Chapter 93 – Feng Xingtai is setting up a company again
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Three days later, Feng Xingtai was dragged into a car by Li Shiqiang from the food processing factory and was sent to Bing City.
“Did you do something bad in school? Why did you ask me to come over?”
Feng Xingtai first words when he saw his son was to question him. This made Feng Yu felt hurt.
“Dad, what are you talking about? I am a good boy. I would never do something bad. Today is good news.”
“I am very busy. Just speak your mind. We had just got more than 10 tons of soybean yesterday, and we are very busy. Where did those three experts go to? After you finish using them, send them back to the factory. Without them around, the production speed dropped by more than 10%.”
Feng Yu looked at his father. Did he really think that those experts were hired for this small factory?
“Dad, those are not important. The important thing now is that you are setting up another company!”
Feng Yu was waiting for his father’s praises but what he got was a slap to the back of his head.
“I am barely coping with one factory, and you are setting up another company? You want to work me to death?”
Feng Yu rubbed the back of his head and said: “Dad, did you ever do anything for Tai Hua Trading Company in Bing City? How can you say I am working you to death? I told you to let the others managed the processing factory, but you insisted on managing it yourself.”
“You are right. Then tell me, why are you setting up another company? What is this company for?” Feng Xingtai laughed and rubbed the back of his son’s head.
“You know about Bing City’s Machinery Factory? The plowing machine and the seeder in our farm were produced by this factory.”
“You want to set up a machinery factory?”
“No, I am buying a share of the Machinery Factory. Tomorrow you will be signing a contract, and then you will be one of the shareholders of Bing City’s Machinery Factory. In future, you will get 10 cents from every dollar earned by the factory.”
“What? Buying a stake in the Machinery Factory? How much will that cost? If you have the money, why don’t you buy more machines to produce soybean oil? We can make a lot from soybean oil.”
“Dad, I had already paid the money.”
“You this good-for-nothing son! Who let you make such decisions?”
Feng Yu stepped back to a distance he felt safe and patiently explained: “Dad, this investment will surely make money and I am using technologies to exchange for the shares. I am using the technical information from the Soviet Union. Think about this, we have no use for these technologies. Are you going to set up a machinery factory? I wanted to sell this information to them, but they can’t afford it, so, they used their shares to exchange for these technologies. If you are not going to sign the contract, then the money spent will be down the drain.”
When Feng Xingtai heard that the money would be wasted if he does not sign the contract, he stared hard at Feng Yu: “This is the last time. If you do this again in future, I will beat you to death! Xiao Li, you must watch over him carefully and make sure he goes to school. The money we are earning is not enough? Every day only thinks about making more money. He is becoming a slave to money!”
Li Shiqiang covered his mouth to stop himself from laughing out loud. He said: “Uncle Feng, Xiao Yu’s results in his mid-term exams was not bad. I have been monitoring his studies closely.”
“What’s wrong with trying to earn more money?” Feng Yu said softly to himself.
“What did you say? Say it louder!”
“Nothing. Dad, don’t worry. I will not ask you to set up companies again!” Feng Yu said and thought to himself. I will apply for my identification card next year, and I will set up companies on my own!
“That’s right. You need to study hard and get into a good university. What’s the use of having so much money? People will still look down on you.” Feng Xingtai was satisfied with Feng Yu’s change of attitude.
After that, Feng Xingtai started talking about the food processing factory. The Farm Department Officer had promised to give him an award at the end of the year, and he will be on the district’s tv station to receive it.
Feng Yu just listen patiently and said something like “Ah!” , “Really?” , “That’s great!” to show that he was listening. This made Feng Xingtai beaming with joy.
“Eh, where is Dongjun?”
Feng Yu’s heart jumped. That’s it. He was about to get exposed.
And almost immediately, Li Shiqiang replied: “In school.”
Feng Yu suddenly felt a killing intent, and he quickly steps back to dodge his father’s hand.
“This useless son! You are skipping lessons again! Don’t you dare to run? I will beat you to death! Xiao Li, stop him from running!”
Feng Yu laid face down on the couch after getting punished by his father: “Dad, I still have classes tomorrow afternoon. How am I going to sit on the chair?”
“What afternoon? You better get back to school in the morning!”
“But we are signing the contract with the Machinery Factory in the morning.”
“I can sign the contract with Xiao Li. You don’t need to be present!”
“Dad, do you know that there are a lot of traps in a contract? Furthermore, I am holding on to the technologies documents, and the other party will not sign the contract if they did not see me. Rest assured, this is the last time. I will not be skipping classes again.” In his heart: I will not be caught by you if I skip class again.
The next day, at ten in the morning, they drove to the City Government. Zhang Ruiqiang had convinced his leaders to agree to the Machinery Factory’s restructurings within 3 days. In future, Bing City’s Machinery Factory will be renamed as Bing City Machinery Corporation. Of course, the factory will still be producing agricultural machines.
Sitting in the center of the conference hall, Feng Xingtai was feeling very uncomfortable. Everyone around him was leaders, directors or officials. The highest ranking among them was the Deputy Mayor!
That was the City’s Deputy Mayor and was of a much higher rank than the Farm Department officer. Earlier, the Deputy Mayor even shook his hands. Till now, his palms were still sweating.
Feng Yu read through the contract carefully and used a pen to change some of the terms of the contract. He said to Zhang Ruiqiang when he passed the contract to him: “These terms need to be changed. We cannot accept such unreasonable clauses.”
“What’s wrong? Whoever owns more shares will have the final say.”
“That is true, but you can’t deprive us of our right to voice our opinions. Also, we must have the right to check the finances and any amount involving more than 10,000 RMB, needs to be approved by our authorized personnel. If not, the money cannot be moved. These clauses I requested are not unreasonable. There is one more clause. The percentage of our shares must remain the same if there are any capital injections in the future. We can accept having only one person on the board, but if there is any proposal involving more than a million RMB, we have a vote of veto!”
“It is too troublesome to ask your side for approval for financial matters. Also, why the equity cannot be changed when there is a capital injection? You had put in lesser capital, and so the percentage of your shares will be lesser. Lastly, the vote of veto is ridiculous. I have never heard of it before!” Li Mingde retorted loudly.
“The finances of a corporation must be monitored by all shareholders. But that is just a formality. Every corporation works this way. If you are injecting more capital, we will also do the same. Don’t worry. As for the last clause, it is the most important. If everyone agreed to donate 10 million RMB to the City Government, I must also follow along?” Feng Yu scoffed.
There were other issues in the contract which Feng Yu did not point out. This was considered giving the City Government face. If the City Government don’t agree to the 3 clauses, then he will not allow his father to sign the contract!
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