The Joseon Prince Went To America And Didn’t Return – 84



< R&H Motors (2) >

“Hello Prince. How have you been?”

My prediction was correct again.

Last time I spoke to Diesel I predicted that one or more of the existing car companies would come to me.

Look.

As soon as February came didn’t Ford come to my hometown of San Francisco and knock on my door?

“It’s been a while. How have you been?”

“Like everyone else this crisis was a very difficult time for me and Ford. But somehow we overcame this hardship.”

He took out a wad of paper from his briefcase with his characteristically cold expression.

“Your Majesty do you remember the stock acquisition proposal you recommended to me last time?”

“Well then. How I wanted to own your company’s stock. How could you have forgotten that?”

“Is that offer still valid?”

I nodded and confirmed that my past suggestion still stood.

After a while Ford placed the contract on the table and carefully observed my reaction.

“It would be difficult to sell the shares I own so I plan to transfer some of my shares to this prince in the form of new shares.”

I wanted to hurry and check the contract on the table but I patiently pretended not to be interested in it and did something else.

Because takeover negotiations are inherently a fight where the one who is in a hurry loses.

“If you issue new stocks do you plan to increase capital?”

“No. Rather I plan to issue convertible bonds. That will benefit both the existing shareholders and the prince.”

okay.

If there is a paid-in capital increase existing shareholders will also have to pay out of their own pockets.

It would be okay during a boom time when money was overflowing but now is a recession.

This had to be avoided at least out of consideration for the opposition of Ford’s existing shareholders as some of them may not have had sufficient financial resources.

‘It is easier to issue convertible bonds than to worry about complicated paid-in capital increase or bonus capital increase.’

Convertible bonds are both bonds and stocks.

It is similar to bonds in that you can lend money to a company and receive the principal back along with interest at maturity.

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It is a combined financial product that can be viewed as stocks because it also includes the right to purchase new stocks for a stipulated amount at maturity.

‘I would rather have new stocks than a few pennies in interest and principal.’

Because it’s the future.

Ford will have some hope that I will get my interest and principal back.

I know full well how big Ford Motors will grow so I plan to convert this piece of paper into stock when it matures.

“But you know it’s later than I thought. I think it was early last year when I proposed it…”

I gave Ford a little nagging.

Why?

It would have been more beneficial for me if you had come to me when the stock price was low that is when the financial crisis was in full swing.

“The market conditions were so bad that we had to take a breather.”

If only Ford had been a little more hasty.

I could have negotiated a better deal.

That’s too bad.

‘Still where is this? Let’s be satisfied.’

The financial crisis has now subsided somewhat.

Of course no one supported Ford’s ambitious plan to build factories quickly because liquidity was still lacking.

I quickly skimmed through the contract checking the details.

‘As expected the conditions are not very good.’

Well it’s not like it wasn’t worth investing in at all.

As in the history of the original.

So Ford’s early investors couldn’t have enjoyed a windfall by reselling their stock to Henry Ford and making a 2500x return.

It seemed like I could easily suck up some fresh water.

“Do you think the conditions are not that good?”

After a brief pause Ford asked anxiously.

“Well you could say that. I think I’ll sign the contract right away because I care about our friendship.”

“thank you.”

Ford sighed in relief as he recalled the events of the past.

“This prince has a keen eye unlike those greedy Jews on Wall Street.”

If you point this out a little you’ll start hearing a torrent of gossip about Jews.

‘Because Ford is a classic anti-Semite.’

But more than that.

I guess you went to several places before making the offer to me.

but.

Ford will also have existing transaction banks.

They probably realized Ford’s financial situation and demanded harsher terms than those Ford had proposed.

‘You are blinded by greed.’

Ford is a growing company.

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In order to further accelerate that pace they were trying to expand the factory even if it meant forcing it.

In short it meant that I would not default even if I did not borrow money or issue the bonds that were proposed to me.

So you must have rejected the unreasonable conditions of your existing business partner and come to me.

‘Well thanks to them I got a stake in Ford Motor Company.’

I extended my right hand and asked Ford to shake my hand.

“With this our relationship has become even deeper.”

“Yes you may become a shareholder of the company in the future.”

Ford signaled to his secretary who was standing next to him.

Then the secretary quickly went out.

“Oh my prince.”

“Tell me.”

“I’d like to introduce some of the executives who came with us.”

“I’m fine.”

The chief of staff brought in Ford’s staff who had been waiting outside my office.

Ford brought the shortest of them forward and introduced him to me.

“He is the vice president of our Ford company. He is the prince.”

“Hello Your Highness. My name is John Francis Dodge. Nice to meet you.”

* * *

Ford gave me a detailed history of Dodge as he shook my hand and smiled broadly.

“The Dodge Vice President is one of the top authorities on gasoline engines which the Prince so desired. All of our company’s engines have passed through the hands of the Dodge Vice President.”

and.

So what that means is that there’s a great genius in front of me right now.

I’m tempted to say it.

‘Dodge was also a representative automobile company of this era. Along with his younger brother.’

I guess you’re still on good terms with Ford?

If you still see him performing as deputy chief of staff at Ford.

‘But that will end soon. Sooner or later….’

As someone who knows quite a bit about the lives of American businesspeople I also knew that the relationship between these two was destined to fail.

Because there were a lot of fights since the Model T was rushed to market.

From that point on the two had a falling out and eventually went their separate ways.

‘After about five years Dodge left the company and started a new car company.’

In keeping with the trend of the times he started selling cars with his own name on them.

It’s called Dodge Motors.

As far as I remember it was one of the automobile brands that was consistently produced by the Chrysler company.

‘It’s an unfamiliar brand in Korea.’

Because they produce pickup trucks and SUVs that gobble up oil like hippos.

Passenger cars are also produced mainly as large muscle cars that macho men would drive.

That’s why Koreans didn’t like Dodge that much.

‘It was also a company that produced military trucks in the 1910s. Dodge Motors…’

The one who made it is John Dodge right in front of me.

really.

The more I think about it the more I find myself wanting this talent.

‘I guess when the two of you break up that will be the best opportunity.’

what.

The Dodge brothers also started their own company in the original history.

Basically it means having ambition.

So things may not go as I hope.

‘The next best option would be for Dodge to become the second largest shareholder when it starts a new company.’

The Dodge brothers are both quite old.

If history were to continue as it is he would have died around 1920.

Their children had no interest in running an automobile company so they sold it to Chrysler.

If I remain the second largest shareholder I can quickly absorb it.

“Oh would you like to visit the lab with me?”

“yes?”

“Didn’t you sign a technology cooperation agreement with our company? This time I acquired the stock and our relationship has become even stronger. Please visit our research center and give our researchers some advice. I think it would be a great help to me if you did that.”

Ford looked puzzled.

The look in his eyes is like why are you wasting your time by going to the lab?

On the other hand Dodge who was from Gongdol had a very happy expression on his face.

It seemed like he wanted to meet with fellow researchers and talk about the research and development process.

“Okay this way. If you drive that way it won’t be too far so follow me.”

* * *

Dodge was a typical idiot.

After touring our expanding factory he stepped into our company’s research lab with a bright expression on his face.

“Your Majesty who is this person?”

Diesel who had been studying for a while came up to me and rolled his eyes.

Dodge then placed his hand on my waist and narrowed his eyes.

“John Francis Dodge vice president and director of research at Ford Motor Company.”

Dodge took a half step forward and opened his mouth.

“I was introduced by this prince here. What is your name?”

“Me?”

“exactly.”

“Rudolf Diesel the company’s head of research.”

“Diesel?”

Dodge looked at Diesel with a startled expression on his face.

“Or is that the German inventor who developed the diesel engine?”

“exactly.”

“That idiot who opened up his patents to everyone and then got sued by that fucking Edison guy?”

“….”

Diesel stared blankly at Dodge for a moment as if he’d been hit in the head with a hammer.

I too was just standing there with my mouth wide open.

I didn’t know Dodge could suddenly accelerate like this.

“The excited young goat that can’t tell right from wrong has done it again.”

Ford sighed and clutched his temple.

Dodge was a typical lower-class American of the era and was as foul-mouthed as Giannini.

‘Goat? Is it because Dodge’s emblem is a goat?’

Anyway Ford kept bowing his head and apologizing to me and Diesel.

Ford kept apologizing to me saying that he had kept his deputy Dodge out during negotiations about the stock buyout because he was afraid of making a slip of the tongue like this.

“Director of Diesel Research. I apologize again. I have a short temper…”

Dodge took my words away from me pounding my mouth.

Diesel glared at Dodge his expression clearly displeased.

“What stupid thing did you do to deserve such ridicule?”

“I apologize again.”

“….”

“The last words don’t build up too much.

“Huh? So… you were also taken advantage of by that Edison guy?”

“Then. How evil is that Edison guy…”

Oh you too?

Hey me too!

Even people who meet for the first time tend to become friends if they have something in common.

Dodge and Diesel began to have heated discussions about their common enemy Edison.

“I thought I would be in big trouble because I made a mistake at the beginning but luckily it turned out well.”

“I know….”

I exchanged glances with Ford and sighed in relief.

Dodge and Diesel exchanged harsh words about Edison but soon they met our cold gazes and returned to work.

“Is this company continuing research and development on the diesel engine you invented?”

“Of course. Otherwise why would this prince have called me here?”

“oh….”

Dodge narrowed his eyes and offered Diesel a piece of advice.

“In commemoration of Ford’s signing of a comprehensive technology partnership agreement with this prince’s company I will say just one thing: This time you must not release any of the patents you have developed for free.”

“Of course. Would you rather have me suffer once than twice?”

“Some people forget it and get hit twice.”

“This person…..”

The atmosphere was better than at the beginning.

Ford looked at the bickering Dodge and Diesel then turned to me and asked

“Ah… Prince.”

“Tell me.”

“What did you name your company?”

Ford tilted his head as he looked over the list.

“You want to choose one of the first two Genesis?”

“I’m not sure yet.”

“hmm….”

“Why is it not so good?”

“Yes that’s a bit true.”

Ford quickly shared his plan for self-rescue with me.

“Don’t bother just use the name of this prince. Why not call it Lee Motors or Lee Kang Motors? Why go all the way?”

okay.

Ford is made by Ford.

Chevrolet is Chevrolet.

Isn’t Dodge made by Dodge hence the company name?

In the case of JP Morgan the company name is like that because it was founded and operated by JP Morgan.

‘But I am different from them.’

I am oriental.

Even though he is a prince an oriental is still an oriental.

If a competitor interferes with your marketing by mentioning you it could potentially affect your product sales.

So the mission seemed like a good one.

‘Even the companies I’ve acquired are like that. Even American Trust uses that name right?’

ah!

The case is a little different for Lee & Wright an airline.

There’s a surprising difference between selling to general consumers and dealing with corporations or governments.

‘Because the word ‘light’ follows the oriental feel is considerably reduced.’

further.

When negotiating with the government there are times when my name actually benefits me.

“Ah… that may be true.”

Ford gave a look of understanding.

“Then let’s do it this way. I heard that Chinese characters that are widely used in the East have meanings.”

“That’s right.”

“Isn’t the prince’s surname Lee and first name Kang?”

“yes.”

“What does ‘Gang (堈)’ mean?”

“It means hill.”

“Then why don’t you just give it the name Hill Motors?”

“….”

“Or R&H Motors would be nice too.”

“R&H Motors?”

“Yes. The prince’s last name is written as LEE but it is also written as RHEE. Also since the prince is of royal blood the R can be interpreted as Royal which could be an ambiguous name.”

“….”

“I hope I haven’t made things more complicated for the prince.”

no.

Neatly Hill Motors or R&H Motors.

That’s really good.

“Thank you. It feels like the tangled thread has come undone.”

“Thank goodness. Oh… and this prince.”

Ford began to ponder for a moment.

“What? Why are you still hesitating to say something?”

“that is….”

Ford asked me cautiously.

“Your Majesty have you ever read any of the tabloids on the market?”

< R&H Motors (2) > End