As Firefly Group ESPN TV Station once CEO, Steve the Bourne Stan has witnessed Firefly Group and even rising of Firefly system with own eyes. Therefore, he does not doubt and General Electric ambition that side by side in the Eric spoken language displays. 作为萤火虫集团旗下ESPN电视台曾经的CEO,史蒂夫・伯恩斯坦亲眼见证了萤火虫集团乃至萤火虫体系的崛起。因此,他丝毫不怀疑艾瑞克言语中表现出来的与通用电气比肩的野心。 In fact, the development of General Electric has reached the peak, is impossible to have the further large-scale expansion again. Along with Jack the retirement of Welch this legend leader, this magnate of industry future development trend is possible is Sheng Ji fades. 实际上,通用电气的发展已经达到了巅峰,不可能再有进一步的大规模扩张。随着杰克・韦尔奇这位传奇领导人的退休,这家工业巨头未来的发展趋势更可能是盛极而衰。 But the Firefly system is different, Eric just in the prime of life, has enough time and energy leads this financial group influence to continue to expand. 但萤火虫体系却不同,艾瑞克正值年富力强,有着足够的时间和精力领导这一财团势力继续扩张下去。 Moreover, if by the ledger assets scale, the Firefly system has surpassed General Electric only now. 而且,如果单论账面资产规模,萤火虫体系现在就已经超过了通用电气。 In the future some years, so long as can digest the serious bubble cost in the new science company concealing smoothly, further consolidates oneself in the network and media two big core sectors foundations, the Firefly system can grow to have the pivotal influence ultra-large financial group influence truly to the United States economy. 未来一些年,只要能够顺利消化掉旗下新科技公司中隐含的严重泡沫化成本,进一步巩固自身在网络和传媒两大核心领域的根基,萤火虫体系就可以真正成长为对美国经济拥有举足轻重影响力的超大型财团势力。 Although looks like in many people, the Firefly system current entered the bottleneck in the the new development of technology industry and media domain, the future expansion more and more will receive the limits of other United States anti-monopoly law gauges as well as competition capital forces, but Steve the Bourne Stan actually keenly notes, so far, the majority of core enterprise of Firefly system is located in the United States home. 虽然在很多人看来,萤火虫体系当前在新科技行业和传媒领域的发展都已经进入瓶颈,未来的扩张会越来越多地受到美国反垄断法规以及其他竞争资本势力的限制,但史蒂夫・伯恩斯坦却敏锐地注意到,到目前为止,萤火虫体系的大部分核心企业都位于美国国内。 This means that the Firefly system also has broad development space in the global range. 这意味着,萤火虫体系在全球范围内还有着非常广阔的发展空间。 From Nokia this successful foreign investment case, the vision that Eric not deficient global expands obviously, the capital strength that Firefly system also similarly not deficient global expands. 从诺基亚这一成功的海外投资案例来看,艾瑞克显然并不缺乏全球扩张的眼光,萤火虫体系也同样不缺乏全球扩张的资本实力。 Is thinking these at heart, Steve the Bourne Stan has to change the issue that he needs to face at this time. 心里想着这些,史蒂夫・伯恩斯坦还是不得不转向他此时需要面对的问题。 This month, Firefly Group in secret greatly only has bought recently up the Comcast stock. 最近这一个多月来,萤火虫集团一直都在暗中大单买进康卡斯特的股票。 Most starts, the Comcast group high level is quite excited, because of swallowing of Firefly Group, Comcast these days stock price increase scope already over 17%. 最开始,康卡斯特集团高层还颇为兴奋,因为萤火虫集团的吃进,康卡斯特这段时间的股价涨幅已经超过17%。 However, when Firefly Group submits the declaration to SEC, stated after had the Comcast group 6.5% stocks, Comcast Board of Directors and management suddenly awakens. When «Washington Post» financial column reporter Howard Glassman publishes the analysis article about Firefly system once more, Firefly Group purchases the Comcast intention is obvious. 不过,当萤火虫集团向SEC提交申报,声明已经持有康卡斯特集团6.5%股份之后,康卡斯特的董事会和管理层才陡然醒悟。当《华盛頓邮报》的财经专栏记者霍华德・格拉斯曼再次发表关于萤火虫体系的分析文章,萤火虫集团收购康卡斯特的意图更是昭然若揭。 Actually, most starts great writer to buy up the Comcast stock from Firefly Group, Steve the Bourne Stan faintly guessed the possible buyer. After all, although initially cannot be the core of Firefly system, but is involved, he knows from A to Z regarding the expansion mentality of Firefly system. 其实,从萤火虫集团最开始大手笔买进康卡斯特的股票,史蒂夫・伯恩斯坦就已经隐隐猜测出了可能的买方。毕竟,虽然当初并不能算是萤火虫体系的核心,但身在其中,他对于萤火虫体系的扩展思路还是了如指掌的。 Just, Steve the judgment of Bourne Stan is also only the guess. Although wants to call to probe very much Katzenberg and the others, Steve the Bourne Stan actually also understands that he has been separated from the Firefly system, Katzenberg and the others will not disclose the inside story like him. 只不过,史蒂夫・伯恩斯坦的判断也只是猜测。虽然很想给卡森伯格等人打电话试探一番,史蒂夫・伯恩斯坦却也明白,自己已经脱离了萤火虫体系,卡森伯格等人根本不会像他透露内情。 Moreover, from the bottom of the heart, Steve the Bourne Stan does not have too the heart of protection regarding the Firefly system, even has not reported own guess to the Comcast master Roberts fathers and sons. 而且,从心底来说,史蒂夫・伯恩斯坦对于萤火虫体系却也没有太多防备之心,甚至都没有向康卡斯特的控制者罗伯茨父子汇报自己的猜测。 Now, Firefly Group not only had the Comcast 6.5% stocks, but also is continue buy up, annexes the Comcast intention to be obvious. 现在,萤火虫集团不但已经持有康卡斯特6.5%的股票,而且还在持续买进,兼并康卡斯特的意图已经非常明显。 Because the foundation operator belongs to the standard capital-intensive industry, each step development needs a lot of cash support, therefore, Roberts family, although is controlling this company as before, but in recent years, along with unceasing financing dilution, their owning stocks share to Comcast already only remaining 3.1%. 由于基础运营商属于标准的资本密集型行业,每一步的发展都需要大量现金支撑,因此,罗伯茨家族虽然依旧掌控着这家公司,但这些年来,随着不断的融资稀释,他们对康卡斯特的持股份额已经只剩下3.1%。 Although through the license agreement, the Roberts fathers and sons has Comcast reaches as high as 33% voting rights, but they are very clear, so long as the Firefly Group initial price is appropriate, the voting rights that in the Roberts family hand has, are not enough to resist the purchase of Firefly Group. 虽然通过授权协议,罗伯茨父子拥有康卡斯特高达33%的投票权,但他们很清楚,只要萤火虫集团开价合适,罗伯茨家族手中持有的投票权,根本不足以抵挡萤火虫集团的收购。 Realized that the after Roberts fathers and sons of crisis convene Board of Directors and company high level experiences a balance, quickly Steve the Bourne Stan sends. 意识到危机的罗伯茨父子召集董事会和公司高层经历一番权衡之后,很快将史蒂夫・伯恩斯坦打发过来。 In the spacious IMAX screening hall, chatted at will a while, Steve the Bourne Stan opens the mouth regarding the proper business, said: „Eric, you know how initially Berkshire became the ABC group major stockholders?” 空旷的IMAX放映厅内,随意闲聊了一会儿,史蒂夫・伯恩斯坦开口谈起正事,道:“艾瑞克,你知道当初伯克希尔是怎么成为ABC集团大股东的吗？” Eric shakes the head, he naturally understands that Steve why the Bourne Stan will catch up today, has not actually exposed, but smiles was waiting for that Steve the Bourne Stan continued. 艾瑞克摇摇头,他自然明白史蒂夫・伯恩斯坦今天为什么会赶过来,却也没有点破,只是微笑着等待史蒂夫・伯恩斯坦继续说下去。 Steve the Bourne Stan has not waited for Eric to reply that continues saying: „Buffett has been interested in media profession. In 1985, after Tom Murphy expressed purchased the ABC group intention, Berkshire disposable invested 500 million USD to the metropolis company, first became the first major stockholder in metropolis company. Afterward, Tom Murphy is the backing by this 500 million USD fund, adds the stock through the fund the form, to slightly greatly acquire then ABC group.” 史蒂夫・伯恩斯坦也没等艾瑞克回答,就继续道:“巴菲特一直都对传媒行业非常感兴趣。1985年,当汤姆・墨菲表示出收购ABC集团意图之后,伯克希尔就一次性向大都会公司投入了5亿美元,首先成为大都会公司的第一大股东。随后,汤姆・墨菲以这5亿美元资金作为后盾,通过资金加股票的形式,以小博大地收购了当时的ABC集团。” ESPN TV Station very long time ago is the industry of ABC group, Steve the Bourne Stan is since the ESPN establishment works in this TV Station. Therefore, he purchased familiar that the ABC group process displayed not to surprise people regarding the past metropolis company. ESPN电视台很早就是ABC集团旗下的产业,史蒂夫・伯恩斯坦更是自从ESPN成立就在这家电视台工作。因此,他对于当年大都会公司收购ABC集团过程表现出来的熟悉并不让人意外。 Eric actually immediately understood Steve the subtext in Bourne Stan words. 艾瑞克却是立刻就明白了史蒂夫・伯恩斯坦话中的潜台词。 Firefly Group purchases the Comcast intention the person to know widely, similarly, Comcast contacts AT-T in secret, attempts to annex opposite party hand the operation of cable TV property telematics company in industry not to be able to be the secret. 萤火虫集团收购康卡斯特的意图已经广为人知,同样,康卡斯特暗中接触AT-T,企图兼并对方手中的有线电视资产远程通讯公司的操作在业内也并不能算是秘密。 Steve the meaning of Bourne Stan, or the meaning in Comcast aspect, obviously is hopes that Firefly Group like past Berkshire Hathaway, provides the fund to help the Comcast smooth annexation telematics, in this process, Firefly Group can also become the Comcast major stockholder. 史蒂夫・伯恩斯坦的意思,或者说康卡斯特方面的意思,显然是希望萤火虫集团像当年的伯克希尔哈撒韦那样,提供资金帮助康卡斯特顺利兼并远程通讯,在这个过程中,萤火虫集团也可以成为康卡斯特的大股东。 Naturally, on the other hand the subtext is also, Comcast does not hope that Firefly Group meddles their management, but only like past Berkshire Hathaway, had this company stock as pure investor. 当然,另一方面的潜台词也是,康卡斯特并不希望萤火虫集团插手他们的管理,而是只像当年的伯克希尔哈撒韦那样,以单纯的投资者身份持有这家公司股票。 In the plan and Firefly tentative plan that although Comcast proposed simultaneously annexed the series purchase of Comcast and telematics have several points to happen to hold the same view, but the final result actually absolutely was not Eric wants. 虽然康卡斯特提出的方案与萤火虫设想中同时兼并康卡斯特和远程通讯的连环收购有着几分不谋而合,但最终的结果却绝对不是艾瑞克想要的。 Listens to Steve Bourne Stan said that Eric directly said: „Steve, you should understand that what I want is the Comcast domination, but is not only only the pure investment. If only the investment, I can find a rate of return higher goal, but will not choose Comcast absolutely.” 听史蒂夫・伯恩斯坦说完,艾瑞克就直接道:“史蒂夫,你应该明白,我想要的是康卡斯特的控制权,而不仅仅只是单纯的投资。如果只是投资的话,我可以找到回报率更高的目标,而绝对不会选择康卡斯特。” „Eric, this is not easy,” Steve the Bourne Stan shakes the head, said: „Although Roberts family's ownership percentage to the Comcast was very low, but they have the Comcast 33% voting rights. Moreover, now the Comcast stock price has been rising, if no initiative in Comcast aspect, even if Firefly Group can buy in enough stock through the open market, will pay very big price. Moreover, according to my guess, you definitely also hopes that can simultaneously annex Comcast and telematics two companies is right? But does not have the coordination of Comcast, this is very similarly difficult to achieve. Federal several big departments will not authorize Firefly simultaneously to acquire these two companies absolutely easily. Therefore, participates in the investment is Comcast purchases the telematics to provide the fund, in the future will become the major stockholder in new company, regarding Firefly will be a very good choice.” “艾瑞克,这并不容易,”史蒂夫・伯恩斯坦摇摇头,道:“虽然罗伯茨家族对康卡斯特的持股比例已经很低,但他们却拥有康卡斯特33%的投票权。而且,现在康卡斯特的股价一直在上涨,如果没有康卡斯特方面的主动配合,萤火虫集团即使能够通过公开市场吸纳足够的股票,也将付出非常大的代价。另外,根据我的猜测,你肯定也希望能够同时兼并康卡斯特和远程通讯两家公司对不对？但没有康卡斯特的配合,这同样是很难做到的。联邦几大部门绝对不会轻易批准萤火虫同时兼并这两家公司。所以,参与投资为康卡斯特收购远程通讯提供资金,将来成为新公司的大股东,对于萤火虫来说是一个非常好的选择。” „I know that this choice steps in the cable television operator domain to be easier regarding Firefly Group, but, if has chosen very easy development path, the Firefly system is impossible to have the present scale. More often, we must always choose the quite difficult that road.” Eric was saying, turns head to look at Steve the Bourne Stan, shifting to a new subject, suddenly said: „Steve, you want to become the Comcast leader, independent operation this company?” “我知道这个选择对于萤火虫集团涉足有线电视运营商领域会更加容易,但是,如果一直选择非常容易的发展道路,萤火虫体系也不可能拥有现在的规模。更多时候,我们总是要挑选比较困难的那条路的。”艾瑞克说着,扭头望着史蒂夫・伯恩斯坦,话锋一转,突然道:“史蒂夫,你想成为康卡斯特掌门人,单独运营这家公司吗？” Steve the Bourne Stan hears the Eric words, the look twinkle, avoids the Eric vision on own initiative, said: „Eric, I now am the Comcast management, I will defend strictly my work ethics, will not do to harm the behavior of oneself employer.” 史蒂夫・伯恩斯坦听到艾瑞克的话,眼神闪烁,主动避开艾瑞克的目光,道:“艾瑞克,我现在是康卡斯特的高管,我会紧守自己的职业道德,不会做有损自己雇主的行为。” „Naturally, I to a Firefly system occupation Manager person most important request am loyal,” Eric said honestly: „If you make any matter, even if attains Comcast finally, I will also ask the reason to kick you. I now not the Comcast harmful matter that requests you to make. Even, in following purchase process, you can avoid this matter completely. However, when Firefly Group takes Comcast, I hope that you can undertake to handle the heavy burden of this company, therefore, you thought that you can be competent?” “当然,我对萤火虫体系职业经理人最重要的一个要求就是忠诚,”艾瑞克坦诚道:“如果你做出什么事情,即使最终拿到康卡斯特,我也会找理由把你踢掉。我现在并不是要求你做出的康卡斯特有害的事情。甚至,在接下来的收购过程中,你可以完全回避这件事。不过,等到萤火虫集团拿下康卡斯特,我希望你能够承担起打理这家公司的重担,所以,你觉得自己能够胜任吗？” Steve Bourne Stan hesitant moment, said: „Eric, I cannot answer you temporarily this issue. Moreover, gives the devil his due, I think that the Roberts fathers and sons have in the cable television operator domain compared with I richer experience. Even if Firefly Group purchases Comcast smoothly, making them continue maintains own position to this company is also very beneficial, this is also the consistent style of Firefly system, not?” 史蒂夫・伯恩斯坦犹豫了片刻,还是道:“艾瑞克,我暂时不能回答你这个问题。而且,平心而论,我认为罗伯茨父子在有线电视运营商领域拥有比我更加丰富的经验。即使萤火虫集团顺利收购康卡斯特,让他们继续保持自己的职位对这家公司也是非常有益的,这也是萤火虫体系的一贯风格,不是吗？” Early to the Nokia, AOL and other company in purchases, was conducting the acquisition negotiation recently Hasbro, Eric is accustomed to retaining the management of these companies. 无论是早期对诺基亚、美国在线等公司的收购,还是最近正在进行收购谈判的孩之宝,艾瑞克都习惯于保留这些公司的管理层。 However, this time, Eric actually shakes the head, said: „I usually such do, because I am unable to find a more appropriate superintendent . Moreover, all these premises are the Firefly system have the absolute control power of these companies as before, so long as wants, I momentarily possibly replace them. But this time is different, even if you cannot be competent the management of Comcast in the future, Firefly Group has to suit similarly handles the talented person in this company. Moreover, I do not hope that Comcast maintains the condition of independent operation, this company must serve for the overall benefit of Firefly system. But this can definitely have the conflict with the Roberts fathers'and sons' idea, as the Comcast founder, they meet Basic Instinct to strive for more authorities obviously, they also exactly have this superiority.” 不过,这一次,艾瑞克却是摇摇头,道:“我通常这么做,只是因为我无法找到更加合适的管理者,而且,这一切的前提是萤火虫体系依旧拥有这些公司的绝对控制权,只要愿意,我随时可能把他们替换掉。但这次不一样,即使你将来不能胜任康卡斯特的管理,萤火虫集团同样有适合打理这家公司的人才。而且,我并不希望康卡斯特保持单独运营的状态,这家公司必须为萤火虫体系的整体利益服务。但这肯定会与罗伯茨父子的理念产生冲突,作为康卡斯特的创始人,他们显然会本能地争取更多权力,他们同时也恰好拥有这种优势。” Eric was saying, has stopped simply, continues saying: „In brief, the Comcast huge scale does not allow in its management system to present two sounds absolutely, otherwise, this market value will count the 10 billion USD company only to fall into the confusion, is not only unable to form the boost to the development of Firefly Group, even may become implication of Firefly system. I am one am willing to release authority very much to Boss of occupation Manager person, but I will not make Firefly Group fall into AOL Time Warner absolutely the region that type of mountain top stands in great numbers, fundamentally, Firefly Group, and even the entire Firefly system, can only have a sound, my sound.” 艾瑞克说着,简单地停顿了下,就继续道:“总而言之,康卡斯特的庞大规模也绝对不允许它的管理体系中出现两种声音,否则,这家市值数百亿美元的公司只会陷入混乱,不但无法对萤火虫集团的发展形成助力,甚至可能成为萤火虫体系的拖累。我是一个很愿意放权给职业经理人的老板,但我绝对不会让萤火虫集团陷入美国在线-时代华纳那种山头林立的境地,从根本上,萤火虫集团,乃至整个萤火虫体系,只能有一个声音,我一个人的声音。” Steve the Bourne Stan discovered one unknowingly already by the Eric belt leaning mentality, they discuss now, has not related with the goal that just came today completely. 史蒂夫・伯恩斯坦发现自己不知不觉就已经被艾瑞克带偏了思路,他们现在谈论的,已经完全与自己今天刚来的目的毫无关系。 The Roberts fathers and sons send him to come, but hopes that he can convince Eric to give up striving for the Comcast group domination. 罗伯茨父子派他过来,可是希望他能够说服艾瑞克放弃争夺康卡斯特集团控制权的。 However, Steve the Bourne Stan also realized at this time that the Roberts fathers and sons send the decision that he comes to be obviously wrong. 不过,史蒂夫・伯恩斯坦此时也意识到,罗伯茨父子派他过来的决定显然是错误的。 As Firefly system once management, he went far beyond in the time of ESPN work in the deadline of Comcast assignment. At this time, he and Eric dialog, even in unknowingly, has several points ‚person on one's own side’ to discuss meaning that own company develops. 作为萤火虫体系曾经的高管,他在ESPN工作的时间远远超过在康卡斯特任职的期限。此时,他和艾瑞克两人的对话,甚至在不知不觉中,有着几分‘自己人’讨论自家公司发展的意思。 Has smiled bitterly, Steve the Bourne Stan wants to reorganize the mentality, actually discovered one have been speechless. 苦笑了下,史蒂夫・伯恩斯坦想要重新整理一下思路,却发现自己已经无话可说。 After all, the Eric manner is firm, by him once the understanding of Boss this, the matter that Eric decided that will obviously not make the compromise easily. 毕竟,艾瑞克的态度非常坚决,以他对这位曾经老板的了解,艾瑞克决定的事情,显然不会轻易做出妥协。 „Eric, I suddenly discovered that I do not continue to discuss with you. Perhaps, I should fly back to Philadelphia now immediately, then makes Ralph they send other people to come.” “艾瑞克,我突然发现,我还是不要和你继续讨论下去了。或许,我现在应该立刻飞回费城,然后让拉尔夫他们派其他人过来。” Eric had also realized similarly similar issue, or he was having several points of intentional meaning. On the face shows the smiling face, he looked at the watch, sets out saying: „Immediately was noon, please eat meal. After the lunch, you hurry back again are not late.” 艾瑞克也同样意识到了类似的问题,或者说,他本来就带着几分故意的意思。脸上露出笑容,他看了看手表,起身道:“马上就是中午了,请你吃饭吧。午餐之后你再赶回去也不晚。” Steve the Bourne Stan has flown back to Pennsylvania state Philadelphia Comcast Headquarters in the afternoon. 史蒂夫・伯恩斯坦下午就飞回了宾夕法尼亚州费城的康卡斯特总部。 After passing on to Eric my meaning, the Roberts fathers and sons also realize this matter unable the swivel, therefore has made the counter-attack decisively. 转告了艾瑞克本人的意思之后,罗伯茨父子也意识到这件事无法转圜,于是果断做出了反击。 Next day, on Philadelphia newspaper presented Steve Bourne Stan and Eric news of Williams discussion. This obviously is the signal that Comcast sends on own initiative, the capital market also is really similar to Comcast high-level anticipated such, judged Firefly Group and Comcast group wrongly started the merger and acquisition negotiations. 第二天,费城的一家报纸上就出现了史蒂夫・伯恩斯坦与艾瑞克・威廉姆斯会谈的消息。这显然是康卡斯特主动放出的信号,资本市场也果然如同康卡斯特高层预期的那样,错误地判断萤火虫集团与康卡斯特集团已经开始了并购谈判。 Therefore, on the same day the stock market just the opening price, the Comcast stock price rose suddenly on the straight line, the entire day stock price increase scope surpasses 13%, the market value breaks 40 billion USD critical junctions once more. 于是,当天股市刚刚开盘,康卡斯特的股价就直线暴涨,全天的股价涨幅超过13%,市值再次突破400亿美元大关。 Moreover, according to the forecast of Wall Street, the Comcast following some time market value will possibly break through 50 billion USD. This considerably increases the purchase difficulty of Firefly Group to Comcast without doubt. 而且,根据华尔街的预测,康卡斯特接下来一段时间的市值很可能会突破500亿美元。这无疑大大增加萤火虫集团对康卡斯特的收购难度。 Afterward, the Roberts fathers and sons nonstop start other frequent contact Comcast shareholders, the intention win many voting rights. 随后,罗伯茨父子马不停蹄地开始频繁接触康卡斯特其他股东,意图获得更多的投票权。 The Comcast voting rights that if the Roberts family has surpass 40%, Firefly Group also is very basically difficult to buy in the stock to threaten the Roberts family's through the open market control status again to Comcast. 如果罗伯茨家族拥有的康卡斯特投票权超过40%,萤火虫集团基本上也就很难再通过公开市场吸纳股票威胁到罗伯茨家族对康卡斯特的控制地位。 However, this time, the lobby of Roberts family is not smooth. 不过,这一次,罗伯茨家族的游说却并没有那么顺利。 After all, looks like in many shareholders, maintains Comcast and Firefly Group contact situation, or complies with the purchase to join the Firefly system, any, on the one hand, they can get more interests obviously. 毕竟,在很多股东看来,保持康卡斯特与萤火虫集团的接触状态,又或者顺应收购加入萤火虫体系,无论是哪一方面,他们显然都能够获得更多利益。 If made Master Roberts control Comcast completely, the excellent situation that at present the stock price rises suddenly will definitely stop suddenly. 如果让罗伯茨夫子完全掌控了康卡斯特,眼下公司股价暴涨的大好局面肯定会戛然而止。