Chapter 790: 790
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Over the next week, Feng Yu had tested the software several times, and the developers made some minor modifications to match Feng Yu’s results .
The final results showed that this software was excellent . But without an experienced stockbroker operating the software, there will be a significant difference . Those mathematicians and software engineers do not know how to tell the difference between good news and bad news that could affect the companies’ shares .
Feng Yu also want to hire some stockbrokers . But he needs to interview them personally first . His investment focus next year will be in NYSE, and he does not have time to watch the market himself . If he could not find anyone suitable, he had to transfer people from Wind and Rain Consulting over .
Kirilenko listened to Feng Yu’s suggestions and decided to hire a few more stockbrokers . But the people he hired were based on their reputations .
Kirilenko had come to the US to invest because he wants to tell the Americans: “Look, a Russian has come to your country to earn your money . ” He will not keep a low profile and wanted to make sure everyone knows about him .
Kirilenko’s office must be located in the most prominent location, and he must rent the whole floor . Although he does not need such a big place, he still insists on doing this .
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Kirilenko had been to Feng Yu’s companies in China . He likes Feng Yu’s relaxing and open renovation style . But the World Trade Center does not allow such renovations . That’s why he was looking forward to buying the Empire State Building .
The Empire State Building is one of the Seven Wonders of the Modern World . It was once the pride of the US . It was an iconic landmark in US history and was the tallest building in the world for over 40 years .
The Empire State Building’s name was derived from the nickname of New York, Empire State .
The initial design of the building was not that tall . But the owner, John J . Raskob, at that time, was not satisfied . He wanted to construct the world’s tallest building and do not want his building to be overtaken . The designs changed multiple times, and the building became 381 meters tall in the end .
What was interesting was in 1951, the architect erected a 68m radio antenna on the top of the building to secure its place as the tallest building in the world .
The construction of this build had started in early 1930 and completed in May 1931 . This was also the Great Depression . The initial 10 years after the building was completed, most of the offices were empty . Some media even gave the building a nickname, Empty State Building!
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This building showed that the Americans were more irrational than the Chinese when it comes to ‘face . ’
When the Chinese government officials knew about this building, they also want to compete to have taller buildings . ‘Giant building’ in China was a good example . The government had interfered in the constructions and demanded the building be built as the tallest building in China . The architect had to change the designs of the building several times to please the government officials . But in the end, the building was not completed .
More funds were needed to build a taller skyscraper . The local government had promised to help Shi Dazhu get loans . However, Shi Dazhu encountered cash flow issues, and the local government stopped giving him loans . The local authorities had made empty promises……
The Empire State Building had almost bankrupted the owner during the first decade because of the taxes . The owner kept lowering the building’s value . The cost of construction was reduced from 40 million to 28 million USD . Also, the maintenance of the building was a significant sum .
In the 1980s, US and Japan’s property markets were doing well . But at the end of 1980s, the US property market crashed, and Japan was made to help the US share the losses .
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This was also the time when the owners of the Empire State Building decided to sell it . In 1991, Japan’s property magnate, Hideki Yokoi, bought the building .
Hideki Yokoi owned the most luxurious hotel in Japan and have many properties in Europe . He made lots of investments in the US and had built Asia’s biggest bowling center with 240 lanes .
In the early 80s, Hideki Yokoi’s luxurious hotel caught fire, and 33 people died in that accident . There were rumors that Hideki Yokoi had asked people to help him cover up the number of victims . The real figure was much more than 33 people .
This was also Hideki Yokoi’s first appearance in courts . But he managed to escape punishment because of his lawyers . It was until 1993 when he was charged in courts and was sentenced to 3 years imprisonment . But he served his sentence in the hospital . He was already 79 years old at that time .
During the late 80s, Japan’s economy was at its peak . Many Japanese felt that in another 10 years, Japan’s economy would be equivalent to the total of the US, Soviet Union, UK, etc .
But Japan’s economy collapsed suddenly . Many people felt Hideki Yokoi was sentenced to jail in 1993, was because he could not afford his lawyer fees . At that time, Japan’s property market had collapsed, and the insurance companies and banks, who had loan Hideki Yokoi money, start to chase him for payments . His total debt was over 2 billion USD, and the value of his shares and properties was less than 1 billion USD!
Hideki Yokoi had become wealthy through investing in properties . He likes to get loans from banks and financial institutions for his businesses . This was fine when Japan’s economy was doing well, and the property prices were rising every day . The banks were not worried that he was unable to repay them . But when Hideki Yokoi really cannot service his loans, it was too late for the banks and insurance companies .
Hideki Yokoi had bought the Empire State Building at 42 million USD . At that time, the Japanese media praised him to the skies and claimed that this was the start of Japan to buy out the whole America .
But Hideki Yokoi was only in the limelight for a short while, and the property bubble burst and the stock market collapsed . After that, he was also imprisoned .
At this time, Hideki Yokoi was still serving his sentence in the hospital . All his properties were handled over to his daughter, Kiiko Nakahara, to manage for him . But Kiiko Nakahara and her husband used overseas companies to conduct a series of complicated transactions for Hideki Yokoi’s assets . In the end, the Empire State Building was owned by a trust company, and if Hideki Yokoi dies, Kiiko Nakahara was the sole beneficiary of the building!
The Empire State Building was not the only property . More than a dozen properties in the US, UK, France, etc . became the joint-assets of Kiiko Nakahara and Hideki Yokoi . Kiiko Nakahara became sole beneficiary for all the assets, instead of Hideki Yokoi’s sons!
Hideki Yokoi’s two other sons were furious . They started to search for evidence to prove what Kiiko Nakahara did were illegal .
But at this time, Kirilenko’s men found Hideki Yokoi’s son, Kunihiko Yokoi, and the first words that were said to him were: “Our boss wants to buy the Empire State Building!”