America's Road to Wealth

As for the gold mine in the cesspit of Qualcomm, Abel certainly intends to get it.

If you can get Qualcomm in this era.

That is equivalent to pinching the meatball of the mobile Internet more than ten years later.

Even if you no longer invest in scientific research after ten years, you can collect taxes for another ten years if you hold Qualcomm.

It is as strong as a chrysanthemum, even if the patents are mutually authorized.

In the end, it still has to pay some patent taxes to Qualcomm more or less.

Abel came here this time, naturally for this purpose.

And Irving Jacobs, the founder and chairman of Qualcomm.

There are also other Qualcomm executives who naturally hope to get investment from Abel.

Mainly in the past two years, the high pass is really miserable.

The stock market refers to falling from more than 35 billion US dollars to 3 billion US dollars in a year.

This kind of soul-stirring dive is rare in the history of world stocks.

This is the Qualcomm main building.

After browsing through, Abel was accompanied by Owen Jacob.

Everyone came to the large conference room on the eighth floor of Qualcomm headquarters.

After everyone was seated, Irving Jacob still hadn't spoken.

Abel has already said straight to the point:

"I think Qualcomm is a good company. But I won't hold it in the near future because it will continue to lose money."

Abel's blunt and direct words made the Qualcomm founders and management present look ugly.

Owen Jacob was even more worried about Abel's words and spread them outside.

In the past two years, the market has been very unfavorable to Qualcomm.

Otherwise, Qualcomm's stock price will not fall so exaggeratedly.

If the words of Abel, the "financial Moses", were passed on to the outside at this time.

The market does not have much information about Qualcomm, and it will definitely collapse immediately.

At that time, the stock price is estimated to be cut in half again.

If this happens two or three more times, Qualcomm can declare bankruptcy and delist.

Fortunately, there are no outsiders in this conference room except Abel and Qualcomm.

Owen Jacob was only worried that Abel would say this to the outside world, and he was not worried that people from Qualcomm would leak this sentence.

"Mr. Smith" Owen Jacob's tone softened, for fear that he would dissatisfy the young man and let him talk nonsense outside.

"Then when do you think Qualcomm will be able to get rid of this predicament?"

However, Abel directly avoided talking about this issue. He said to Irving Jacob:

"I wouldn't own Qualcomm anytime soon, but Smith Capital can help Qualcomm."

What Irving Jacob said above is actually trying to set some good words for Abel to Qualcomm.

This is in case the media leaks it.

You can also use the good things that Abel said later to counteract Abel's negative words about Qualcomm.

Unexpectedly, Abel said so, Owen Jacob immediately asked with interest:

"Oh, Mr. Smith, how do you want to help Qualcomm?"

"Bonds."

"Qualcomm could issue PERCS bonds to Smith Capital," Abel said.

PERCS bonds are actually convertible preferred shares with upper and lower limits.

"PERCS Bonds"

Owen Jacob understood what Abel meant.

That is, Abel is not interested in Qualcomm now, but is willing to lend to Qualcomm.

And his interest in the future of Qualcomm.

So does Qualcomm need a loan now?

Much needed!

Qualcomm is currently worth around $2.6 billion on the stock market.

But their liabilities have reached $2.2 billion.

At this time, Qualcomm was so embarrassed that not many banks and financial companies were willing to lend to it.

But Qualcomm itself knows that its scientific research cannot stop at all.

Once it stops, other competitors in the industry may surpass it.

At that point, Qualcomm's first-mover advantage will be lost.

That's not too far from the complete death of Qualcomm.

Qualcomm is at a time when it needs funding the most.

Gritting his teeth, Owen Jacob said softly: "What about the conditions? What kind of conditions are Smith Capital's PERCS?"

"The annual interest rate is 7.85%, which is much less than most PERCS on the market."

"The conversion period is two years. When the price of ordinary shares does not exceed US$10.8, the conversion price is US$4.5, which corresponds to Qualcomm's price-to-book ratio in 2000 was about 1.7 times, and the price-earnings ratio was about 15 times."

Abel continued to speak clearly.

"If the common stock price exceeds $10.80, the conversion price is $10.80."

"That is to say, the yield of this PERCS bond has an upper limit. In addition to the interest income of 7.85% per year, the common stock conversion investment income after two years is at most 58%."

"In addition, I need the preferred stock to have a protection clause. If after two years, that is, in 2003, if the common stock price is lower than 4.5 US dollars, the conversion period will be extended for half a year."

According to this set of rules, Qualcomm will pay 7.85% interest every year for two years.

Two years later, if Qualcomm's stock price can't rise above $10.8.

Then, at the price of 4.5 US dollars per share, sell the stock within the corresponding value to Abel.

If it can rise more than 13 US dollars or more than 0.8 US dollars per share, it can only be sold to Abel at 10.8 US dollars per share.

This is equivalent to Abel signing a two-year investment and gambling agreement with Qualcomm.

Similar PERCS bonds are not uncommon in the United States and Europe.

For example, when Buffett invested in American Express in 1991, he also used the PERCS bond model.

Generally speaking, only listed companies like the current Qualcomm, which is extremely distressed, can accept such conditions.

This is a kind of unfair usury between enterprises when there is nothing to borrow and there is really no other way.

Abel smiled: "If I want, I can put up $500 million to support Qualcomm as PERCS bonds."

After Owen Jacob heard this, his expression changed.

The other Qualcomm executives present also had different expressions.

But most of them are not very good expressions.

This is not because Abel's conditions are too much.

Actually before Abrew.

Qualcomm has also contacted various gold groups many times in the past year.

But most of the bank syndicates have rejected Qualcomm's financing request.

A small number of banks are willing to use Abel's similar PERCS bond model to support.

But these banks have more stringent conditions and higher interest rates.

As Abel said, the annual interest rate of 7.85% is indeed not high in this model.

Back then, the interest Buffett gave to American Express was 8.85%.

Those who are willing to give Qualcomm PERCS bonds, the interest given is as high as 10%.

Thinking of this, Owen Jacob said in a harsh voice:

"Mr. Smith, thank you for your conditions. But I need to report to the general meeting of shareholders, you should understand."

"Yes." Abel stood up with a smile: "Five months, within five months, this condition is fine."

Owen Jacob nodded, his voice dry, "Thank you for your kindness."

"Well. So be it." Abel nodded, stood up and said he wanted to leave.

Owen Jacobs and others still want to keep it, but Abel is not very interested in Qualcomm, which is still a cesspit at this time.

Before 2003, Qualcomm was really a small broken company.

It will take two years until 2006-07 to really take off.

At that time, the prototype of the smartphone will appear.

Only some investors with a good vision will find that Qualcomm has been invincible on this track.

At that time, Qualcomm became valuable all of a sudden, from a cesspit to a gold mine that everyone wanted.

Soon, Abel left Qualcomm.

On the way to the airport, Edward told Abel one more thing.

That was Laura had left Arlington for Austin, Houston.

Abel remembered the Herbert family, who mainly lived in Austin, Houston.

Little Laura went to Houston, Austin, and should be home.

Abel was already a little numb to this matter.

He also just let Edward continue to send people to watch, and he didn't bother to care about the follow-up development.

Waited until after eight o'clock in the evening.

Abel is back at the cottage at 812 North Bedford Road in Beverly Hills.

Annie didn't come back, she flew to New York tonight.

She'll be in New York tomorrow, as well as several major East Coast cities, to promote The Princess Diaries.

In addition, the first-day box office of "Princess Diaries" is also out.

In the entertainment media's hype, coupled with the fact that Abel gave his first TV interview.

As well as the support of many Hollywood big shots in the media.

"The Princess Diaries" grossed $15.6 million on its first day.

Abel, who owns a large media group, of course knows that the box office on the first day is very good.

Like the "X-Men" of Fox Films last year, it had a global box office of 296 million US dollars.

Its first-day box office was only around $13 million.

If this rule is followed, it is estimated that the box office of The Princess Diaries will not be worse than that of "X-Men".

But know that the cost of "X-Men" is as high as $75 million.

The cost of "Princess Diaries" is only 30 million US dollars.

The difference is more than double, if the box office is the same.

Fox is expected to be pissed off.

But none of that mattered to Abel.

In the capital market, Smith Capital fluctuates by just a few points, and sometimes the numbers of floating losses and floating profits are even more exaggerated than these.

He just glanced at it and forgot about it.

Since Annie was not there, Annie's bodyguard naturally followed.

In the evening, Abel was a little hungry.

He asked Edward to go to the kitchen and make him something to eat.

Half an hour later, a tall, thin, blond girl came over with food.

Abel looked sideways at Edward, and Edward explained softly:

"This is the niece of Gina Korshunova. Her mother is currently the cook here. Miss Anne promised her mother that she would be paid here to do some chores within her capacity."

Abel nodded, and he also remembered what Jinna asked him to do before.

After confirming this, he smiled at the little girl.

The little girl looked a little shy and introverted, she didn't dare to look up at him, she lowered her head and put the food on the table.

Abel looked at it and found that it was some roast mutton, mare's milk and the like.

It's good to change the taste, he thought so and started to do it.

As soon as he ate it, Albert felt that the meal was delicious.

"Oh, very good." Abel smiled and said to the little girl standing next to him:

"This meal is delicious. I'm very satisfied. By the way, girl, what's your name? I'm Abel Smith. You can call me Abel or Mr. Smith."

"Sir." Edward said softly beside him, "She just came from Europe. Her English is not very good."

"Oh." Abel nodded, "Then what language does she speak? Russian?"

"Looks like Russian and Haksa."

"Do you know?"

"I'm sorry, BOSS. I won't." Edward said: "But someone will, do you need me to let him come in and translate for you?"

"Forget it." Abel shook his head, "Let's talk about it after she has learned English well."

Abel finished eating quickly, and then made gestures.

The little girl who didn't understand much English understood his movements and came over to take away the plates and the like.

After eating and drinking, Abel turned around and went to the study, took out his mobile phone and called his grandfather.

The call was quickly connected.

"Good evening, my dear grandpa."

"Good evening, my unlovable grandson."

"Okay." Abel said:

"I'm not so polite with you. Did little Laura go to you yesterday? I hear she's gone today."

"Yes."

"Ah," Abel said again, "then you don't have anything to say to me?"

"No."

Abbot paused, and said in a dissatisfied tone:

"My dear grandfather, you were not like this two days ago. At that time, you said that you and my father will always be my backer!"

"Hahahaha~"

In the handset of the mobile phone, Alex's long laughter came.

Abel was helpless, knowing that the old urchin wanted to play tricks on him.

He just had to wait quietly.

After Alex laughed enough there, he said softly:

"Okay, okay. Little Laura did come to my place. She came once yesterday and spent the night in the room you lived in last night. The bed your grandmother prepared for her was even used directly by you, and she didn't Mind. It's a really good shrub, I have to say. Her personality is too much like Herbert's."

"And then?" Abel was noncommittal.

Alex said: "Then I thought, she's perfect for you."

"Judging by what? Just because she's a good shrub?" Abel questioned.

"Little Laura is different from your grandma and mother." Alex said on the phone:

"Your grandmother and mother are good mothers, good grandmothers and good wives."

"But they can't be good matrons. You know what I mean, boy? Little Laura can be a good matron."

Hearing his grandfather's praise for Laura Bush Lauren, Abel was a little surprised.

He knew that his grandfather always looked down on the people from the bush family because of Herbert.

If it weren't for Herbert and his son, who ascended to high positions and led the family so successfully.

With Alex's bad temper, it is estimated that he would not want to have more contact with Herbert.

Now that Alex is full of praise for little Laura, Abel knows there must be a reason.

Facing his own grandfather, he asked directly.

"Okay. I know you'll ask."

Alex said: "The reason why I feel this way is because little Laura said something to me."

"What words?"

"She said: 'If I marry into Smith, I want every fourth-generation Smith to have a middle name of 'Lauren.'"

Alex said: "Do you know what that means? My dear boy."

Abel was silent here.

Alex's voice sounded again.

"She's already confessed in front of me and Arya that she knew about you and that little starlet. She's only asking for one thing about it. And that's that little starlet, if she's having a girl. The name can only be "Ella Lauren Smith". If the starlet has a boy, it must be Abadi Lauren Smith."

After hearing Grandpa's long speech, Abel was a little speechless.

Little Laura, what does that mean?

Weird name addiction?

But according to grandpa, it seems that she doesn't mind these things about her?

Abel was a little hesitant, he didn't quite believe that such a good thing would happen.

"That's why I said she'd make a good matron. Because I think she means it. Unless she's a better actress than she can fool me and Arya."

Alex's voice, while Abel was silent, came from there again.

"call"

Abel took a deep breath, and after a few seconds he spoke.

"Then what do you and grandma mean?"

"Son, it's not my opinion or anyone else's that matters. It's your own."

Alex said: "Whether Smith is united with the bush or with any other family, the most stable way is marriage plus benefits. The final beneficiary and the person who contributes will also be you."

"Alexander can help you for a few more years. But I can't. I'm old."

"Abel, my good boy. The most important thing is what you think, or what you want to do."

"This is the most important."

When grandfather said this, Abel was completely silent.

He held the phone for a few minutes without speaking, and then said softly after a few minutes:

"Okay. I see what you mean. It's a little late. Good night, grandfather."

"Good night, child."

Hang up the phone, Abel put down the phone.

In the study, he walked to the floor-to-ceiling windows and looked at the night view of Los Angeles in the distance.

As night falls, the entire City of Angels is brightly lit, with the bright sky overhead, presenting the most bewildering side of the capital country.

Watching this scene, Abel was in a daze for a long time.

After standing for more than ten minutes, Abel turned around, walked to the desk, and picked up the phone again.

He found the note of the contact "Little Laura" in his mobile phone for personal communication.

After hesitating for a few seconds, he dialed out.

A few seconds later.

Laura Shrub Lauren's brisk voice came from the receiver of the mobile phone.

"Abel?"

"Um."

"Wait, I'm talking to my father, uncle, and grandfather, wait until I change places."

"good."

after a little while.

"You still have the nerve to call me?"

"Why are you embarrassed. Laura Lauren Smith."

What responded to him was a long silence over there.

And a few minutes later, she laughed softly.