50s: Starting with a storage ring

Chapter 582 Eight Days Later, the Offense and Defense Shift
From the 20th to today, the 27th, a total of 8 days, we secured $170 billion in crude oil futures orders, with an average purchase price of $33.68 and a selling price of $40.06.

In this operation, he raised a total of $32.05 billion, and after deducting costs and various expenses, his actual net income was $13.2 billion.

There is another additional source of funds that must be mentioned: the 100 tons of gold he withdrew from the vault overnight, which he then urgently borrowed from within China for $15 billion.

China's total foreign exchange reserves are only over $80 billion. The fact that this money can be lent out is not solely due to the presence of gold.

This is also a reward for Cathay Pacific's tireless efforts in recent years to help the mainland develop and provide sufficient financial assistance for the country's opening up.

The fact that funds accounting for nearly one-fifth of the country's total foreign exchange reserves could be borrowed within a few hours demonstrates the family's financial strength.

He only used a small portion of the money to replenish the margin, and then left it in Cathay's account without touching it.

In other words, his total funds in Cathay Pacific now include: principal of 18.25 billion, profit of 13.2 billion, and 15 billion from selling gold, totaling 46.45 billion US dollars.

He still needs to return the $24.25 billion secured by the 160 tons of gold and redeem the gold.

Ultimately, Cathay Pacific will have $22.2 billion and 160 tons of gold left in its accounts.

Of this, 100 tons of gold were taken out privately by Sun Zhiwei later, and he will also put them back into the safe in the Cathay Pacific underground vault in New York, in the private vault number 061.

The 100 tons of gold only appeared briefly last night, and only the domestic and Cathay Pacific authorities knew about it; the outside world should not have heard the news.

To be on the safe side, after the 100 tons of gold were returned to the safe, Sun Zhiwei remotely repositioned them back into the storage space.

It's not safe to leave this money with Cathay Pacific; there will always be a time when things get out. It's safer to put it in his personal space.

Eight days of thrills culminated in a $13.2 billion profit, proving that making money in the futures market is faster than robbery.

Of course, as long as you have the ability to retain the fruits of victory.

Just like this time, if he hadn't had a trump card to add an extra $1.89 million in margin, he himself would have become someone else's victim.

However, none of this was Sun Zhiwei's ultimate goal. His objective remained unchanged: to target LaGuardia Airport.

Eight days ago, Sun Zhiwei consulted the Port Authority of New York and New Jersey about their opinion on the proposal to sell LaGuardia Airport.

As a result, Sun Zhiwei did not meet with any of the six members of the management committee.

However, the secretary of one of the committee members relayed a message to him, stating that they had no intention of selling LaGuardia Airport.

You read that right, the Port Authority of New York and New Jersey is managed by a committee of six people.

This agency is not a legitimate federal government department at all; it is just a third-party organization responsible for managing transportation connections between New York and New Jersey.

It is accountable only to the governor, and its six committee members are appointed by the governor.

Although it sometimes receives state government funding, it is actually a self-financing, semi-official agency.

It typically relies on issuing bonds and collecting facility management fees to obtain funds to maintain operations.

Eight days later, Sun Zhiwei visited the Port Authority of New York and New Jersey again. Today, he came to inquire about the Authority's views on the sale of LaGuardia Airport.

Although the objective is the same as it was 8 days ago, the situation today is completely different.

In just eight days, international crude oil prices surged from $28 per barrel to $40 per barrel. This change will be directly reflected in airfares within 48 hours. It is foreseeable that passenger traffic at LaGuardia Airport will plummet, further exacerbating the already unprofitable airport's situation.

As a result, this time he was received not by a secretary, but by one of the six members of the committee: Maurice Miles.

In the office of the committee member of the Administration Bureau, Sun Zhiwei met Mr. Miles.

He was in his fifties, with his hair neatly combed and a serious and rigid expression; he didn't look like someone easy to get along with.

If Sun Zhiwei hadn't seen the memo in his desk drawer through the spatial dimension, he would have been terrified.

The memo contained meeting minutes from yesterday, attended by six commissioners from the Administration and the special envoys of the governors of New York and New Jersey.

The document clearly states the conclusion that LaGuardia Airport will attract private investment, and even specifies the minimum price: no less than $8000 million.

It's worth noting that LaGuardia Airport only cost $4000 million when it was built in 1939.

Even taking inflation into account, the price is still high, because you also have to factor in the depreciation of the old equipment that has been running for over 40 years.

"Mr. James, I heard you're very interested in LaGuardia Airport?"

"Yes, Commissioner Miles, I wonder if the Administration has any plans to introduce private funding, given the current situation is not very good."

It's not just a little bad, it's very bad. Oil prices have risen by 42%, which is a devastating blow to all oil-consuming entities.

It is foreseeable that without further injections of funds, the management bureau will soon fall into a vicious cycle.

Yes, it's the entire Authority, not just LaGuardia Airport; LaGuardia Airport is just one of the most prominent burdens within it.

Because the Port Authority of New York and New Jersey includes not only airports, but also ports, railways, highways, tunnels and bridges.

In short, it is an interstate transportation management department that covers all transportation-related departments between the two states, and its actual power is terrifying.

Sun Zhiwei's original target was LaGuardia Airport, but through the meeting memo, he learned that the impact of this oil price surge was much greater than he had anticipated.

The entire Port Authority of New York and New Jersey is now on the verge of collapse.

This surge in oil prices did not occur in the original history, and international crude oil prices would have gradually declined over the next few years.

In the following years, the Authority gradually introduced small amounts of private capital, recovered, and was reborn two years later when oil prices collapsed.

However, the current unforeseen circumstances have left them unable to cope, and without further funding, they will be forced to sell off their subordinate units in large quantities at low prices.

For example, the operating rights of airports, tunnels, highways, and ports.

Having suddenly obtained such important information, Sun Zhiwei's mind began to race as he weighed the pros and cons.

He no longer cares about LaGuardia Airport; a much bigger pie is right in front of him, it's just a matter of whether he has the guts to take a bite.

"The Authority is considering selling LaGuardia Airport, but they also need to consider the capabilities of the investors."

(End of this chapter)