April 25th.
On this day, Kyle dispatched representatives who arrived in Seattle.
"Welcome! Welcome!"
"I am Mondo Gustav, the Vice Mayor of Seattle. Welcome to Seattle, Mr. Lister."
Mondo Gustav, male, 43 years old, has held various positions including Seattle City Council member, Washington State Legislator, and Chief of Staff for the Seattle Mayor's Office. He currently serves as the Vice Mayor of Seattle, in charge of economic development.
"You're too kind, Mr. Gustav. If all goes well, I hope this will be our final negotiation!" said Little Baggio Lister.
As a member of Kyle's think tank team, he was once a vice president at Aviva General Insurance in Britain. He is skilled at information gathering and, likewise, exceptionally adept at negotiation.
Gustav said solemnly, "Of course, I also very much hope that we can reach an agreement in this negotiation."
Lister smiled and said, "I look forward to a pleasant cooperation."
"Yes, to a pleasant cooperation!" Vice Mayor Gustav stated firmly.
Soon... negotiations formally began between the local Seattle government and Kyle's representatives regarding the construction of a technology industrial park.
Negotiations!
In fact, since Kyle visited Seattle in June 1999, he had decided to invest here—investing heavily, that is—and had been continuously sending people to negotiate with the local government.
However, there were differences between the two parties on issues such as bank loans, loan interest rates, local corporate taxes, preferential policies, public transport construction, and the resettlement of displaced residents.
Especially regarding the issue of bank loans!
With the burst of the Dot-com Bubble, a large number of companies went bankrupt, affecting many banks. Bad debts and uncollectible accounts were everywhere, and the banks were short on cash.
"Mr. Gustav, many local banks in Seattle have close ties with your government. With your guarantee, plus the financial strength of my boss, Mr. Kyle Page, how could there be any default?"
Little Baggio Lister said seriously, "A bank loan of $800 million should be no problem at all for the local banks in Seattle."
Hearing this, Gustav couldn't help but smile bitterly.
The bank representatives accompanying Gustav on the negotiation team also had their mouths twitching.
An $800 million loan—he made it sound so simple.
However, everyone knew about the economic downturn and the continuous depreciation of the U.S. dollar. Kyle's desire for a massive bank loan was, to put it bluntly, an attempt to take advantage of the banks.
After exchanging views with several bank representatives, Gustav replied, "Mr. Lister, the banks can lend your company $800 million, but the annual repayment interest must reach 6.3%."
As soon as he finished speaking,
Lister was instantly furious.
"You are showing a complete lack of sincerity!"
"According to the current Banking Act implemented in Seattle, the annual repayment interest for 5 to 7 years is 6.1%. My boss is borrowing $800 million from you, and not only is there no discount, but it's actually 0.2% higher?!"
Lister spoke eloquently, his face filled with indignation.
The accompanying team members also looked ready to walk away if things didn't go their way. At this moment of national economic downturn, Kyle's team really wasn't worried about these banks.
Gustav: "..."
The bank representatives: "..."
At this critical moment,
Lister threw out a major piece of bait.
"On the basis of the $3 billion total investment for the technology park, we will add another $1 billion, bringing the total investment to $4 billion."
"At the same time, from 2000 to 2002, the total investment for the first phase will not be less than $2 billion!"
As soon as he finished, the Seattle negotiation team practically fell to their knees.
Especially Seattle Vice Mayor Gustav, who was beyond excited.
A technology park with a total investment of $4 billion, divided into various ancillary industries and multiple profitable sectors—how many jobs would this create? What kind of massive economic benefits would it bring?
These were all political achievements!
And so, Gustav compromised~
The bank representatives had nothing more to say.
"An $800 million bank loan at 4.5% annual repayment interest!"
—This was the final decision.
At the same time, on issues like local corporate taxes, preferential policies, and public transport construction, Little Baggio Lister secured the maximum benefits for Kyle.
The technology park, covering an area of approximately 900 acres, finally reached a formal agreement today after nearly 10 months of negotiations... The total investment for the first phase of the technology park was as high as $2 billion!
With the banks lending $800 million, it meant Kyle would still have to provide $1.2 billion in cash.
On this issue, Kyle had exchanged views with his think tank.
"If I use this technology park project as collateral, can I borrow another large sum of money from other banks?" Kyle asked.
Clearly, Kyle intended to use other people's money for his own gain.
However, Kyle's idea was rejected by the think tank members.
Over the phone, Little Baggio Lister shook his head and said, "Boss, if your project were residential or commercial real estate, I could get you no less than $2 billion in cash from the banks within three days. Unfortunately, a technology park won't work!"
His personal financial advisor, Anna, also agreed, "Internet and tech stocks have plummeted. In the current climate, banks wouldn't dare to lend such massive amounts of capital like that."
"Uh?"
Kyle was left speechless.
Evidently, the 'empty-handed wolf' strategy wasn't applicable... After the agreement for the technology park, with a total value of $4 billion and a first-phase investment of $2 billion, was formally signed, both parties immediately announced the'shocking' news to the public.
Instantly, Seattle was filled with cheers!
"Mr. Page is truly a godsend!" a middle-aged woman exclaimed.
"Isn't he? With the U.S. economy currently sliding, every industry is suffering. Especially our pride in Seattle, the Amazon Company—its market value has plummeted now," a middle school teacher sighed.
After the Dot-com Bubble burst, nearly a hundred companies in Seattle alone went bankrupt, and the unemployed population reached 14,000.
Such a large unemployed population would undoubtedly put massive social pressure on Seattle's economy, politics, and public security.
But now it was different!
Kyle's investment in Seattle could solve the re-employment problem for at least 3,000 people, greatly relieving the local pressure.
The Seattle Government;
The Seattle City Council;
The State Government and State Legislature;
Even local business alliances, charities, and unions from various industries all gave extremely high praise and acclaim to Kyle's investment in Seattle.
[Conscientious Entrepreneur]
This was the newest title Kyle received, following "Cunning Fellow," "Miser," "genius director," "little emperor of television," and "Little Prince of Venture Capital."
And it was a title that brooked no argument!
If anyone were to offer a different opinion or dispute this title now, everyone from the Seattle government down to the 4 million residents of Seattle would drown them in spit!!!
Investing in and building a technology park was undoubtedly a project with slow results, a long cycle, and difficult returns. Even within 10 years, it would be hard for Kyle to recoup this investment. However... it could greatly enrich Kyle's industries and strengthen his foundation, making those cunning people who wanted to swallow Kyle's assets whole afraid to even take a bite.