Hollywood starts with an agent

Chapter 505 is precisely the wave of bankruptcies.

"California, Texas, and New York are the top three economies in the United States, and they all have the power to exert influence."

"Now it's Florida, in fourth place!"

Aaron muttered to himself, “Next on the list is Illinois, fifth, and Pennsylvania, sixth.”

Chicago, Illinois' largest city, plus Philadelphia, Pennsylvania's largest city!
"Boss, we've arrived at Miami International Airport."

While Aaron was sitting in the car thinking, they arrived at the airport.

“Hmm,” Aaron then got out of the car…

Upon returning to Asia, Aaron did not go directly to South Korea, but instead went to Hong Kong first.
The Hong Kong International Airport, located in Chek Lap Kok, was originally scheduled to begin operations in April, but it was postponed to July, so Aaron still disembarked at Kai Tak Airport.

Moreover, Leon Cooperman, the current chairman of Omega Consultants, is in Hong Kong, and Aaron made a special trip to meet with him!
"The ongoing financial crisis has had a significant impact on Hong Kong!"

In a suite at the Kowloon Shangri-La Hotel, Aaron sat casually on the sofa.

Leon Cooperman smiled. "Unemployment is rising, the economy is declining, and many ordinary people are burdened with heavy debt."

Aaron looked at them and said, "This is your third major attack on Hong Kong, isn't it?"

"That's quite persistent!"

Leon Cooperman shook his head. "It's mainly the Quantum Foundation; they're extremely persistent in attacking Hong Kong."

Aaron took a sip of his drink. "You people in finance, your thinking is always so hard to understand."

"The process of European integration is accelerating, and the euro is about to be officially launched. That will be the next competitor!"

Leon Cooperman waved his hand. "Don't you understand Washington? The official launch of the euro won't be easy."

"With the current Asian financial crisis, a large amount of capital from Asia is flowing to the United States and Europe to preserve its value. How can the United States tolerate this?"

"It won't be long before there are new big moves."

Aaron sighed. NATO was about to take action against Yugoslavia, and the United States would not allow the Euro to be launched so smoothly.

European integration, with its economic size, poses a significant threat to the United States!
"Indeed, strength is the only truth. With it, one can plunder the world without any scruples. It seems I need to make some preparations as well."

Aaron certainly knew that the euro officially came into circulation in 2002, but that was when coins and banknotes appeared in the market as cash.

The euro has been around for a while, and starting next year, it will be traded in the financial market and begin circulating as a book currency.

The emergence of the euro poses an obvious challenge to the dollar, and the United States will certainly do its utmost to suppress the euro and prevent international capital from flowing into Europe!
The euro is sure to plummet next year, and Aaron won't miss the opportunity.

"By the way, Aaron, Hong Kong's Asia Television (ATV) is currently looking for a buyer."

"Your old rival News Corporation owns Asia Satellite Television, and Hong Kong's Asia Television is Hong Kong's terrestrial television station, which at least has a voice in Hong Kong!"

In Hong Kong, only TVB and ATV have free-to-air television licenses, so of course ATV's viewership ratings can't compare to TVB's.

Now, during the financial crisis, ATV's advertising revenue will certainly not meet its targets.

"ATV was developed by Lai Sun, right?" Aaron thought for a moment and replied.

Leon Cooperman nodded. "As you know, last year Lai Sun Development acquired the Furama Hotel at a high price, incurring huge debts. Then the financial crisis hit, the property market plummeted, and the Lin family's assets shrank significantly."

"Furthermore, at the end of last year, Lim Por-yen, chairman of the Lai Sun Group, was detained in Taipei in connection with a land transaction bribery case, and was formally indicted last month."

"Finally, of course, ATV is at a disadvantage in market competition and its business performance is poor!"

Aaron raised an eyebrow. "Then why did you suggest I acquire ATV?"

Leon Cooperman shrugged. "You're Hollywood's golden boy. Can't you find a way to take care of a tiny place like Hong Kong?"

Aaron was speechless. How many people does Hong Kong have? The market is too small. He wasn't a local force in Hong Kong. Why would he need a struggling TV station?
Everyone knows that TVB is the dominant force in Hong Kong television, while ATV is completely at a disadvantage, lacking the talent pool to match its counterpart.
Now, acquiring ATV means not only having to find ways to invest and reform, but also having to deal with the targeting from TVB.

"It's not worth it. What I want is an American wireless television network!"

Aaron shook his head, showing little interest.

"If it's Lai Sun Development, then I do have some ideas. You know what the current state of Hong Kong's real estate market is like."

Leon Cooperman's eyes lit up. "We've already been shorting the Hong Kong stock market."

"Furthermore, I heard that you have a large sum of money invested in South Korea, and the exchange rate of the Korean won to the US dollar has now reached a historic low of 2060!"

Aaron frowned. "I came here today to see how to handle this money?"

Leon Cooperman shrugged. "South Korea is currently experiencing a wave of bankruptcies, so acquiring some assets might be a good option."

Aaron stood up, walked to the window, and admired the sea view outside. He felt a little irritated. "Let's take a look first. Anyway, the Korean won is going to appreciate in value soon!"

Leon Cooperman smiled without saying a word. He could certainly hear the displeasure in Aaron's tone, after all, the Korean won was currently under severe devaluation.
Holding a large sum of Korean won that doesn't hold its value would make anyone uncomfortable.

"By the way, how's America doing these days?"

Upon hearing Leon Cooperman's question, Aaron turned around, knowing full well that he was referring to the Clinton sex scandal.

"The merger of Citibank and Travellers Group is complete, rendering the Glass-Steagall Act virtually useless."

Is it necessary to forcibly abolish Wall Street?

Aaron shook his head. "The Paramount Decree in Hollywood has always existed, but hardly anyone follows it anymore."

Leon Cooperman sighed. Omega Advisors was a hedge fund, and he didn't really care about this.

But now, American commercial banks are no longer satisfied with low-profit retail business; the returns from investment are much greater!
“The financial industry is different. Only after the Glass-Steagall Act was repealed and the Financial Services Modernization Act was implemented can the boundaries of the business scope of banks, securities firms, and insurance companies be fundamentally eliminated.”

"In this day and age, the separation of financial and industrial operations has become a stumbling block to the development of finance."

Aaron understood what Leon Cooperman meant: after the Glass-Steagall Act was repealed, commercial banks could openly and on a large scale engage in investment banking activities.

Now is the time for a new wave of mergers and acquisitions in the American banking industry, and Wall Street will not allow any obstacles!

(End of this chapter)