Chapter 594 Tough Decision (1/2)

Chapter 594: Tough Decision

Translator: Nyoi-Bo StudioEditor: Nyoi-Bo Studio

Li Du was feeling dizzy from the four of them quarreling among themselves. He regretted not listening to the African-American driver earlier and not choosing another jewelry shop to sell the gemstones to.

Americans sure knew how to disgrace each other. He was waiting there to do business with Roger when the other three decided to sabotage it on the spot.

It was apparent that the deal was off. Harry Winston was definitely facing financial problems and from what the other three had said, they did not have enough money for a bulk gemstone procurement.

It was a little unbelievable to him as Harry Winston was a major brand in the luxury goods industry. Of course, they sold mainly jewelry and gemstones and hence, was not comparable to the giant brands like LV and Dior, which sold all sorts of luxury goods.

Nonetheless, their market share was worth at least a billion dollars and they could not spare a few million?

However, after listening to the four of them, Harry Winston was indeed currently in need of the few million dollars.

Tedrick and the others were not at all intending to avoid humiliating the company and Roger. At the moment, they only wanted to quickly sell their shares.

Feeling dreary from the quarrels, Li Du could not help interrupting. ”Guys, calm down. From my understanding, Harry Winston is currently in a bad situation. Is that right?”

Roger frowned and replied, ”Mr. Li, you are mistaken, our company . . .”

”At this point in time, who do you still want to lie to?” Tedrick shouted. ”Roger, you can go on the internet yourself and have a look. The predicament our company is in has already been posted online. The media has already begun reporting on the problem of the Ekati diamond mine!”

Roger opened his mouth, wanting to speak. However, after moving his lips a little, he ended up not speaking and only let out a dispirited sigh.

Norman said in a dissatisfied manner, ”Initially when the company wanted to spend a large sum of money to procure the Ekati diamond mine, I suggested not to gamble, not to gamble, not to gamble. In the end, did anyone listen?”

”That's right. With the global luxury goods market currently experiencing a downturn, the company was still dumb enough to spend five billion dollars to procure a barren diamond mine. So stupid!”

Seeing them complaining and quarreling again, Li Du raised his hands. ”Guys, guys, calm down. What are you all worried about? Since all of you are Harry Winston shareholders, you guys should be aware of the market power the company has, right?”

”The company has huge market power. Despite that, if we were to declare bankruptcy, what use is there in having that huge market power? The market power of Lehman Brothers was even larger, right? Didn't they still go bankrupt?” Norman said in a cold manner.

Lehman Brothers was once one of the world's top four investment firms. In 2008, they declared bankruptcy, which intensified the global financial crisis.

At that time, Li Du was still attending university in China. Hence, he was not very clear on the whole situation. However, for America, the bankruptcy of Lehman Brothers had a huge impact. Many companies followed suit and also declared bankruptcy, while lots of people became penniless overnight.

Therefore, due to having such experiences before, Norman and the others were very agitated. They knew that once Harry Winston declared bankruptcy, their remaining years would be miserable.

Although Li Du did not intend to partake in their problems, he could not help saying a few words on Roger's behalf. Li Du felt pity seeing him in such a difficult position.

”It's apparent the situation of the Lehman Brothers is different from Harry Winston's. Lehman Brothers was such a huge entity that even the government was unable to take over. On the other hand, Harry Winston is a 100-year-old brand with a good reputation. It will not go bankrupt. Even if the returns are not great, there will be companies who will want to procure it.”

”Even though what you said is right, how much will other companies be willing to pay for our shares?” Tedrick said.

Li Du was silent. Indeed, what Tedrick said was true. If Harry Winston was bought, the other party would definitely lower the price, resulting in a situation where their shares would be less valuable.

Roger said admonishingly, ”I admit, Harry Winston may have encountered some problems. Nonetheless, we still have our brand and with it, potential.”