Chapter 1029: 352, Do not merge

Donnie had once firmly believed that he should never hand over the consortium he founded to so-called professional managers.

Because deep down, these professional managers are actually thinking about how to usurp what isn’t theirs.

Now, Irving Young’s attitude has only strengthened Donnie’s belief.

Since Charles Koffen stepped down as chairman of General Electric’s board in 1922, Irving Young has started to assume the roles of chairman of the board and group president of General Electric.

It can be said that Irving Young is now the person with the greatest nominal power at General Electric.

And if Donnie wants to acquire General Electric, in reality, Irving Young is Donnie’s biggest competitor.

But now, after discussing with Donnie, Irving Young doesn’t want to compete with him; instead, he’s thinking about how to gain greater benefits from Donnie.

“Mr. Block, no matter what, I’m one of the major shareholders of General Electric. Now you want to acquire General Electric, which essentially takes away my voice in the company. It’s only fair for me to ask for some benefits from you, isn’t it?”

Irving Young said confidently to Donnie.

Donnie leaned back on the sofa with a smile on his face: “Young, isn’t it because you know you can’t compete with me that you’ve chosen a way out for yourself?”

Irving Young nodded and said without hesitation: “Of course, if Mr. Block, you really want to acquire General Electric in the stock market, neither I nor the management behind me are your match. But don’t forget, if we do fight back, we will definitely cause you some trouble!”

Donnie did not deny Irving Young’s statement.

“Tell me, what kind of benefits do you want?”

Irving Young said excitedly: “Mr. Block, I know Venus Bank is currently acquiring shares in Westinghouse, indicating that you aim to control Westinghouse next. Have you ever thought about merging Westinghouse with General Electric? If these two groups merge, they could replace the Kuhn, Loeb & Co. consortium and become one of the top nine consortia in the U.S.

You know my capabilities, and I also know that Mr. Block, you certainly won’t personally manage such a consortium, so why not let me manage it?”

This was Irving Young’s idea.

General Electric is already one of the largest group companies in the U.S., and with Westinghouse, the group will be able to compete with other consortia in terms of scale!

At that time, Irving Young would become one of the most powerful people in the U.S.!

Donnie smiled and said: “That is indeed a very good plan. If the two groups merge, patents will be shared, channels will be shared, technology will be shared, and it will certainly become one of the top nine consortia in the U.S., as you said!”

“So, Mr. Block, do you agree with my suggestion?”

Irving Young was even more delighted to hear Donnie say this!

Unfortunately, Donnie’s reply was clearly going to disappoint him!

“You’re right, Venus Bank is indeed completing the control of Westinghouse, but I have never thought about merging Westinghouse with General Electric, even though many people think I would!”

Donnie frankly told Irving Young his thoughts.

The acquisition of General Electric and Westinghouse is underway, and Donnie felt no need to deceive these people about this matter.

Irving Young looked surprised, “Why, the merger of the two companies would not only allow for resource sharing but also save costs and increase competitiveness. I can’t think of a reason why they wouldn’t merge!”

Donnie sat there, gently swirling the wine in his glass, noncommittally asking: “Young, can you really not guess?”

Irving Young was about to tell Donnie that he really couldn’t figure it out, but he immediately stopped himself, realizing that Donnie wouldn’t aimlessly ask such questions.

In an instant, Irving Young understood what Donnie meant; this should be a test from Donnie for him. If he couldn’t answer with what Donnie wanted, he might not get the benefits he desires when Donnie acquires General Electric.

After pondering for a long time, a sudden insight came to Irving Young, and he thought of a possibility.

“Whether it is a country or a company, once they have eliminated all surrounding threats, internal corruption is bound to occur. This is a historical rule, inevitable. Not only will corruption occur, but also, without competitors, they lose the motivation to move forward, which is what people commonly refer to as internal disintegration.

So Mr. Block, you want to maintain competition between these two companies, even if it requires spending a little more wealth, to ensure they each keep their competitiveness?”

Donnie revealed a satisfied smile. While Irving Young in the position of president at General Electric seemed mediocre, this was relative to other presidents of General Electric in different eras.

In fact, in this century, every president of General Electric has been regarded as the best CEO of their time!

What Irving Young discussed was exactly what worried Donnie.

When there is no external competitive pressure, internal disintegration is unavoidable.

This world is constantly proclaiming peace!

But in fact, what drives people’s steps forward is precisely war and competition between nations.