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Chapter 131: Acting with Integrity
"You want those trucks?" Ferrall, who arrived a little later on the court, asked with a cigarette in his mouth. He had a weary look on his face, and it was rare to see him smoking before.
Smoking could leave a lingering smell, which in certain situations was quite impolite. Most people would try to avoid such circumstances, especially someone like Ferrall, an important assistant to the mayor.
Their outward appearances often represented the mayor's image, and they were often entrusted with important tasks by the mayor. Therefore, hobbies that seemed ordinary to many were off-limits to them.
But now, he couldn't care less. Taking a deep drag softened his expression.
Flicking ash off his cigarette, he glanced at Lynch. "Those trucks aren't worth much, but they come with a heavy burden."
"Thirty-three trucks plus forty-nine trailers. You'll need to provide at least sixty job positions, and these positions cannot be terminated during the mayor's term." He explained, flicking ash again.
There was no such thing as acquiring something at a significantly lower price, when its actual value was several times or even dozens of times higher, without giving anything in return.
With EverBright Group's assets in Sabin City being divided, those who swallowed the cake must also bear the responsibility of acquiring those resources. They would need to provide hundreds or even thousands of job positions.
Moreover, these positions would only continue to increase, never decrease.
There was never a free lunch in this world. Even though they had a cooperative relationship with the mayor, they couldn't obtain such a large sum of wealth for nothing.
Ferrall's meaning was simple: acquiring these things was easy, but maintaining them wasn't. Sixty job positions related to truck drivers, each requiring a monthly salary of at least three hundred bucks. Just in wages, it would amount to eighteen thousand bucks.
Although those trucks seemed to be of little value, the job positions they generated would take away over two hundred thousand bucks in wages annually from Lynch. These wages could support at least sixty families and affect the livelihoods of approximately one hundred twenty to one hundred eighty families.
Year after year, as long as the mayor remained in office, Lynch couldn't reduce these job positions. If the economy didn't improve or if his operations encountered problems, these things would become burdens dragging him down.
In fact, other large companies were in similar situations. After seizing these assets, some individuals couldn't bear the responsibility and had to choose bankruptcy. But everyone was still desperately pushing forward, gambling that the economy would improve before they went bankrupt.
Lynch also lit a cigarette and took a few puffs. "I have my ways; don't worry."
After seriously observing Lynch, Ferrall confirmed that he wasn't lying. Only then did he reassure himself that Lynch wasn't acting out of envy for others' sudden wealth.
He tugged Lynch's arm, leading him through a few small doors to the office behind the court. As an aide who often accompanied the mayor to various events, Ferrall had considerable influence locally.
After explaining the situation, the court naturally didn't make things difficult for him. They accepted his explanation, and eventually, after halving the already low price again, reached an agreement with Lynch.
The reason was simple: after the auction failed, the court believed that the valuation was too high, so they revalued it reasonably. Look, didn't it sell immediately this time?
In terms of perfecting this under-the-table operation, it was equally straightforward. Simply incorporate this auction information into the next auction as sold via telephone auction, and no one would find it improper.
After paying the auction fee of less than fifty thousand bucks, Lynch obtained the keys to these trucks and their ownership certificates. Seeing these lovely little documents, Lynch vaguely recalled something.
After chatting casually with Ferrall for a while, Ferrall hurriedly left.
The document Lynch held soon reached Joegleman's desk. With a smile tugging at his lips, Joegleman shook his head in amusement as he examined its contents.
He examined them carefully, not letting any pass. He had an accurate judgment on the authenticity of these things, derived from years of experience in his work.
Having dealt with various certificates, bills, property rights, and liability documents, he gradually developed the ability to appraise such items. Especially with real estate and vehicle ownership certificates, he could roughly tell with a touch of his finger.
"Thirty-three documents..." Joegleman looked at Lynch. "And forty-nine trailers."
He leaned on the armrest of his chair, sighing involuntarily. "This isn't a cashier's desk, Lynch. You can't keep coming to me for money."
Lynch's intention, without surprise, was to cash in these items fully. This time, it wasn't a small amount. Thirty-three trucks alone, even at a conservative estimate of thirty-five thousand each, amounted to over a million.
Adding forty-nine trailers, the total value would be around one million six hundred thousand.
Lynch wasn't concerned about Joegleman's implications. He simply asked with a smile, "We're friends, right?"
Thinking of the thank-you letter Lynch had given him and how this sensible young man had made him look good within the bank this year, even prompting some to suggest he skip building experience at the regional division and directly take over the role of the branch manager in Sabin City, Joegleman couldn't refuse Lynch.
"It's too risky." He muttered. "You've taken a lot of money from me, and if something goes wrong..."
Gettnau Financial had entrusted its assets to Dyson Asset Management for full management, which in turn pledged them to banks for a large amount of cash. This had become an endless cycle, with funds constantly flowing in and out, involving approximately four million bucks.
In addition, Lynch had pledged nearly three hundred thousand bucks worth of goods with the bank himself, putting up all his belongings as collateral. Out of friendship, Joegleman provided the highest valuations for everything.
With these items in hand, their direct and indirect financial transactions would soon exceed six million. Any mistake in any link could turn this six million into nothing but a loss. He felt a hint of pressure, especially considering Lynch's ambitions were greater than he had imagined.
But Lynch interrupted his words, "These trucks will be entrusted to Dyson Asset Management. You don't need to worry."
Joegleman raised an eyebrow, his brow furrowing slightly as his mind raced. He stood up, walked to the door, closed it, and adjusted the blinds.
After completing these actions, he returned to his desk and sat down. "You don't plan on repaying the money?"
He asked this question for a reason. Originally, he thought Lynch had pledged these assets in his own name, which would have made it difficult for him to handle. Such a large personal pledge would attract suspicion, even with his current status, and could invite unwelcome scrutiny or investigations.
Even people who weren't on good terms with him might stir up trouble.
It was like a company worth a billion borrowing ten million from a bank. Regardless of where the company used the loan, the banking system wouldn't be too vigilant. However, if an individual borrowed ten million in their own name, it would raise negative thoughts and emotions, leading to stricter supervision of the money's usage and possibly attracting investigations from the regional division or headquarters.
That was part of why he was in a bind. Occasionally, errors in valuation could be seen as normal mistakes, but consistently making mistakes would be considered negligence.
Initially, he thought Lynch had pledged everything personally, but now it seemed he didn't intend to do so.
If it was under the name of Dyson Asset Management, the value of these items could be included in Dyson Asset Management's market value. After the bank conducted its investigation, it would approve the loan, especially since there was a Dyson Asset Management worth millions supporting these assets.
But Joegleman felt things weren't so simple. Both he and Lynch knew Dyson Asset Management was just a shell company on the surface. It didn't even have a single employee yet. If this company suddenly declared bankruptcy, the approximately six million funds would become bad debts.
However, this bad debt wouldn't affect Joegleman. No one could predict this risk, and even if they could, it would be difficult to resist.
During this time, rumors had been circulating within the banking system due to EverBright's investigation and subsequent bankruptcy. It was said that the bad debts it generated among the six major banks amounted to thirty-seven million. However, the banks didn't make much fuss, nor did they insist on recovering the losses.
Those handlers involved also didn't face any punishment for it either. It was a fairly common occurrence; sometimes, even when banks knew certain projects might have some issues, they still dove into them without hesitation.
This didn't imply that personnel from the six major banks were stupid; rather, they had their own strategies and plans. At times, it may seem like they were experiencing losses, but in reality, they were making profits through various operations.
In Joegleman's eyes, Lynch was a young man with ideas, courage, and a willingness to take risks. So, his immediate thought was that Lynch didn't plan on repaying the money. After letting Dyson Asset Management go bankrupt and liquidate everything, he could legally pocket these millions.
But Lynch shook his head. "No, I don't have the habit of not repaying my debts. Doing this just makes it easier for you. Besides, this amount of money doesn't mean much to me right now. I just need some funds at the moment."
With this additional million-plus in funds, along with the land owned by the club, he would soon be able to raise about four million in cash. This money would be enough for him to lay out his industrial layout in Sabin City and even the entire state.
What he said was indeed true. He didn't see this amount of money as significant right now. Even if he wanted to make some money, now wasn't the time or place.
If he were to do it, he'd do it big!
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