Chapter 1833: The Wen Corporation in Financial Distress
Translator: Atlas Studios Editor: Atlas Studios
At this point, Cao Zixing and Xue Yishan were in the Chairman’s office reporting to Wen Xinya.
Over the past few years, Xue Yishan had already become Wen Xinya’s right-hand man. She held him in very high regard.
Cao Zixing said, “As of now, five shareholders have already left Wen Corporation. It was a major blow to Wen Corporation’s finances. The company is already in a cash-strapped situation. If we don’t quickly resolve this financial issue, I am afraid things will just continue to s...o...b..ll until it reaches a stage when we can no longer save the company.”
A company’s financial resources were a measure of its power. With the Wen Corporation’s finances in trouble, it meant a major decline in the company’s prowess.
More importantly, the shareholders’ withdrawal had caused Wen Corporation’s share price to drop by 80%. It was a new low and the decline was still ongoing.
Wen Xinya looked very grave. There was nothing she could do to stop shareholders from withdrawing. “The Wen Family has been trying to buy up all the shares that have been given up by those shareholders, but our family’s financial power is also very limited.”
As a result, financial distress had become Wen Corporation’s greatest problem for the moment.
If they could not manage the issue now, Wen Corporation’s financial problems would just become increasingly severe.
Cao Zixing looked rather grim. “The Wen Corporation is mired in the money laundering scandal and suffering from media and public backlash. The public is boycotting us, and our market share has dropped from 70% to just 30% now, and it’s still falling.”
As a result, there was also no way they could alleviate Wen Corporation’s financial crisis by boosting sales.
Xue Yishan said, “Old Mr. Wen is still in police custody. Rumors have been swirling throughout our company. Our employees are very unnerved and second-guessing everything. Several staff members have already resigned over the past few days. Some even jumped s.h.i.+p to Li Corporation. These people are some of the more important skilled workers and management-level staff. The talent drain is just one more calamity to the Wen Corporation.”
The staff had lost confidence in the Wen Corporation. They no longer believed in the company and employee morale was at an all-time low. It was a fatal blow to the Wen Corporation.
Wen Xinya kept silent for a moment. “How are we doing with the flus.h.i.+ng out of spies within our company?”
With so many staff leaving, there must be someone on the inside stirring up unrest within the company.
As a result, Wen Corporation had been conducting a high profile sweep of any spies still buried within the company. On one hand, they intended to scare off those with nefarious intentions, on the other hand, it was a show of power. She was unable to step up to the helm of the Wen Corporation and had no choice but to use such domineering methods.
Xue Yishan replied, “I have carried out the sweep per your specifications. It will be very thorough and merciless. We have currently completed about 80% and should be done within the next three days.”
When chaos reigned, a heavy hand was required.
In order to prevent Li Corporation from destroying the Wen Corporation, they had no choice but to take drastic measures.
Wen Xinya was very satisfied with the progress. “Wen Corporation’s crisis is only a temporary one. Please bear with it this period of time. Remember that no matter what, we must remain steadfast.”
With that, Wen Xinya leaned back in her chair, looking very imperious and a.s.sertive.
Cao Zixing maintained his respectful expression. No matter what befell the Wen Corporation, he would endure everything right to the very end.
Meanwhile, Xue Yishan was observing this young lady before him with a profound gaze. He actually regarded Wen Xinya with higher importance than the company itself. Not that he believed the company was definitely doomed, but so what if it fell?
This woman was fated to become a behemoth in this world. As long as he followed her, anything was possible.
“Madam, you can’t enter. Miss Wen is in a meeting with CEO Cao and Deputy CEO Xue…” A pleading voice sounded from the outside.
Scuffling noises ensued. “Let me in. Who dares to stop me? I am still her elder. I should not have to wait to see her…”
Old Madam Wen’s voice was strident as usual.
Old Madam Wen’s previous scene in the lobby of the Wen Corporation had ended up as front-page news. This time, she had learned her lesson and directly sought Wen Xinya out at her office.
“Bang!” The meeting room door was slammed open as Old Madam Wen charged in.
Cao Zixing and Xue Yishan immediately stood up. They greeted Old Madam Wen before hastily saying, “Since Miss Wen has something on, we will make a move first.”
Cao Zixing and Xue Yishan left and closed the door firmly behind them to avoid any probing eyes.
“Wen Xinya, didn’t you claim that your Grandpa will be released from police custody within two days? I went to the station today, but they told me that he will be detained for a longer period of time! Tell me… what is going on? Did you purposely lie to me earlier just to placate me?”
Old Madam Wen trembled with anger as she glared at Wen Xinya. She looked like she couldn’t wait to skin Wen Xinya alive.
Wen Xinya took up the magazine on the table and handed it to Old Madam Wen. “If you want to know the reason, just take a look at this!”
She wanted Old Madam Wen to see clearly what kind of ingrate her son was. This son, whom she had spent so many years raising. She also wanted to see who would Old Madam Wen choose to side with: her son or her husband?
Old Madam Wen slapped the magazine away. She hollered angrily. “Don’t think you can make use of these trashy reports to continue bluffing me. It is obvious you are the one behind your Grandpa and father’s detainment. You are a jinx…”
Old Madam Wen’s admonishments echoed within the office.
Wen Xinya just looked at her calmly and with a neutral expression. She actually felt quite sorry for the old lady for having such a despicable son.
Even more pitiful was the fact that the old lady remained in complete denial.
Wen Xinya’s pitying eyes was like a huge suppressing pressure on Old Madam Wen. Her voice started to falter until she fell totally silent.
Wen Xinya spoke up in a composed manner, “Wen Haowen told the police that Grandpa was overseeing the entertainment city project, that he had just been following Grandpa’s instructions. Grandpa has now become a suspect and his detainment prolonged.”
She pushed a stack of newspapers before Old Madam Wen.
There was no way she could miss that glaring headline.
Old Madam Wen stepped backward in disbelief. Her face was completely ashen. “Impossible… the old man has always been opposed to the entertainment city project… Haowen can’t possibly have done that… the newspapers must be reporting nonsense…”
As stupid as Old Madam Wen was, there was no way she could deny the facts staring straight in her face.
But she steadfastly refused to believe that Haowen would frame his own father. Haowen was a filial and sensible child. The media was just spouting nonsense.
Wen Xinya said calmly, “Why don’t you drop by the police station to ask Wen Haowen yourself?”
Old Madam Wen left in a daze.
She didn’t believe Wen Xinya’s words.
But the region deep inside her heart was filled with unease. Especially when she recalled the conversation between her and Haowen, right after that old man had chased him out of the Wen Family.