Chapter 352: Board meeting at Scarlet HQ part-2
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Originally, Wil had no intentions of making the company go public because of three reasons.
One, he isn't really interested to earn more money as he was content with what he has. Not to mention, his current wealth is more than enough for even the next ten generations.
Two, he was worried that he wouldn't be able to play War Online in peace if the company goes public as he will have to work harder in the future to care about the company's net worth, share price, investing of other giant corporations, frequent board meetings, etc...
And three, if the company goes public, the board of directors will have more authority than in the present situation. They can even remove him as the chairman if necessary like how he did with Lu Heibei. But, if he owns everything, his words will be final and no one would dare go against his wishes.
He doesn't want to bother with all this stuff and let the company run as it is…
However, upon learning that Scarlet Group even has five subsidiary companies, he fell into deep thoughts. It's not about whether to go public or not. Rather, he was thinking about something else.
Until now, he thought Scarlet Securities is the only company that was generating profits. In his past life, he stayed Ecrin city in the western continent, where Scarlet Group or its subsidiaries doesn't operate. So, he knows nothing about it, before either.
His father died without telling him anything and Silver was just letting him do what he wanted to do.
Upon listening to the details from Maria, Wil now realized that several companies needed to be taken care of. Just changing a few rules within the company won't do. He also needed to understand how the other companies work.
If they aren't generating sufficient profits, Wil intended to close them down and shift the staff to newly acquired Ravens Tech…
As Wil continued to think, the whole room was filled with silence. No one opened their mouths and just stared at Wil, waiting for his response.
After a while, Wil finally opened his mouth, "For now, the company stays private. Ms. Glades, I will consider your suggestion once I sort out everything. But first, let me inform all of you regarding the changes I decided to implement, starting from tomorrow."
Everyone just stared at him in silence. In their eyes, since Wil was just a kid without any experience of running the company, they wondered now what kind of mess he will create now.
Last time, when he cut back the staff and shifted to his little gaming company, they faced severe losses and received several complaints from the rich clients.
Wil then raised his hand and showed them five fingers. "One, There will be no more private assignments. If an employee is in dire need of money, the company will provide a loan with low interests or even no interests if necessary, but from now onwards, no one is allowed to take a private assignment.
Two, we will not accept everyone as our clients just because they have money. Every assignment the branch offices receive must be submitted to Headquarters.
I'm not sure whether there is an investigation department. If there isn't, now there will be. The investigating department's job is to investigate the background of the possible clients. Not deeply, just on the surface would be enough.
Then, their file will be passed through an analysis team that will rate them based on four things. Criminal record, financial status, reputation, and necessity. Our team will then decide whether to offer them services or not. To do that, our branches should be in contact with local police stations.
Three, I'm going to form a separate investigation team. Their job is to keep an eye on our employees of all the branches including yourselves.
Remember that they will directly answer only to me. So, threatening or giving orders to them is the same as questioning my authority.
Four, every employee and team leader will go through monthly assessment and bi-annual assessment.
The monthly assessments will let me know whether everyone is following the rules or not. I'm going to ignore whatever happened until now.
But from now onwards, extortion, smuggling, drugs, scams, murder, sexual violence, etc… crimes like these are absolutely not tolerated. They will be handed over to the police without any second thoughts. It is the number one rule of the company.
So, warn everyone to stay away from these things if they are into them in the past. And once again, remind everyone that if they require money, then, don't go into illegal side occupations. The company is willing to lend them a hand at any time. We don't lack the funds.
And if they were being threatened by someone, their team leaders need to help them out.
As for the bi-annual assessments, those who have good conduct will either receive a promotion, extra leaves, a 1-month salary bonus, or might get a raise.
Similarly, people with bad conduct might get a demotion, salary deduction, or even get fired. Prepare new contracts for everyone with these rules adding to them. These new rules are applicable from the cleaner to the CEO.
And lastly five, the Headquarters will be shifted to Leafway city."
From the moment Wil started to speak of the new changes, everyone just looked at him in a daze. They didn't even know how to react.
A client is the one that chooses the company but here, the company will choose the client and that too, based on his merits. If it is just the financial status, and reputation, it will be fine, but criminal record too?
The majority of the influential clients of theirs have criminal records in the past… Their revenue already dropped by 70% due to the cutting of the staff by more than 1500 members. This kind of system will only make them suffer losses.
As for the third and fourth ones, since a few of the directors were also into things like smuggling weapons and drugs in secret, they felt a bit of panic in their hearts. It was only after Wil said that he will ignore the things of the past did they sigh in relief.
And the fifth one was no surprise to them since it was within their expectations. After all, Wil was staying in Leafway city. Either he had to come to Ares city for every board meeting or attend through the video call. Certainly, shifting is easier for someone like Wil.
Meanwhile, Storm was sweating bullets as he was doing everything that his beloved young master despises just so to cover up his mistake. If the company shifted to Leafway city, he will be under the radar of Silver too. It will only make his work very difficult.
"After we shift to Leafway, this building will be used for commercial and residential purposes. Before that, talk to the authorities and acquire land in the outskirts of Leafway city.
It should be big enough to have several residential apartments for all the staff members, playgrounds, parks, training centers, a stadium, of course, office buildings for different departments, in simple words, something like a township. 600-meter Skyscrapers like these aren't my taste."
Retracting his hand, Wil then closed his statement, "This is all I have to say in this meeting. Now, before everyone gets back to their work, I need the past five year financial reports of Scarlet Securities and its subsidiary companies on my desk, right now."
Everyone immediately stiffened as soon as they heard those words. They couldn't help but glance at Storm.
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Originally, Wil had no intentions of making the company go public because of three reasons.
One, he isn't really interested to earn more money as he was content with what he has. Not to mention, his current wealth is more than enough for even the next ten generations.
Two, he was worried that he wouldn't be able to play War Online in peace if the company goes public as he will have to work harder in the future to care about the company's net worth, share price, investing of other giant corporations, frequent board meetings, etc...
And three, if the company goes public, the board of directors will have more authority than in the present situation. They can even remove him as the chairman if necessary like how he did with Lu Heibei. But, if he owns everything, his words will be final and no one would dare go against his wishes.
He doesn't want to bother with all this stuff and let the company run as it is…
However, upon learning that Scarlet Group even has five subsidiary companies, he fell into deep thoughts. It's not about whether to go public or not. Rather, he was thinking about something else.
Until now, he thought Scarlet Securities is the only company that was generating profits. In his past life, he stayed Ecrin city in the western continent, where Scarlet Group or its subsidiaries doesn't operate. So, he knows nothing about it, before either.
His father died without telling him anything and Silver was just letting him do what he wanted to do.
Upon listening to the details from Maria, Wil now realized that several companies needed to be taken care of. Just changing a few rules within the company won't do. He also needed to understand how the other companies work.
If they aren't generating sufficient profits, Wil intended to close them down and shift the staff to newly acquired Ravens Tech…
As Wil continued to think, the whole room was filled with silence. No one opened their mouths and just stared at Wil, waiting for his response.
After a while, Wil finally opened his mouth, "For now, the company stays private. Ms. Glades, I will consider your suggestion once I sort out everything. But first, let me inform all of you regarding the changes I decided to implement, starting from tomorrow."
Everyone just stared at him in silence. In their eyes, since Wil was just a kid without any experience of running the company, they wondered now what kind of mess he will create now.
Last time, when he cut back the staff and shifted to his little gaming company, they faced severe losses and received several complaints from the rich clients.
Wil then raised his hand and showed them five fingers. "One, There will be no more private assignments. If an employee is in dire need of money, the company will provide a loan with low interests or even no interests if necessary, but from now onwards, no one is allowed to take a private assignment.
Two, we will not accept everyone as our clients just because they have money. Every assignment the branch offices receive must be submitted to Headquarters.
I'm not sure whether there is an investigation department. If there isn't, now there will be. The investigating department's job is to investigate the background of the possible clients. Not deeply, just on the surface would be enough.
Then, their file will be passed through an analysis team that will rate them based on four things. Criminal record, financial status, reputation, and necessity. Our team will then decide whether to offer them services or not. To do that, our branches should be in contact with local police stations.
Three, I'm going to form a separate investigation team. Their job is to keep an eye on our employees of all the branches including yourselves.
Remember that they will directly answer only to me. So, threatening or giving orders to them is the same as questioning my authority.
Four, every employee and team leader will go through monthly assessment and bi-annual assessment.
The monthly assessments will let me know whether everyone is following the rules or not. I'm going to ignore whatever happened until now.
But from now onwards, extortion, smuggling, drugs, scams, murder, sexual violence, etc… crimes like these are absolutely not tolerated. They will be handed over to the police without any second thoughts. It is the number one rule of the company.
So, warn everyone to stay away from these things if they are into them in the past. And once again, remind everyone that if they require money, then, don't go into illegal side occupations. The company is willing to lend them a hand at any time. We don't lack the funds.
And if they were being threatened by someone, their team leaders need to help them out.
As for the bi-annual assessments, those who have good conduct will either receive a promotion, extra leaves, a 1-month salary bonus, or might get a raise.
Similarly, people with bad conduct might get a demotion, salary deduction, or even get fired. Prepare new contracts for everyone with these rules adding to them. These new rules are applicable from the cleaner to the CEO.
And lastly five, the Headquarters will be shifted to Leafway city."
From the moment Wil started to speak of the new changes, everyone just looked at him in a daze. They didn't even know how to react.
A client is the one that chooses the company but here, the company will choose the client and that too, based on his merits. If it is just the financial status, and reputation, it will be fine, but criminal record too?
The majority of the influential clients of theirs have criminal records in the past… Their revenue already dropped by 70% due to the cutting of the staff by more than 1500 members. This kind of system will only make them suffer losses.
As for the third and fourth ones, since a few of the directors were also into things like smuggling weapons and drugs in secret, they felt a bit of panic in their hearts. It was only after Wil said that he will ignore the things of the past did they sigh in relief.
And the fifth one was no surprise to them since it was within their expectations. After all, Wil was staying in Leafway city. Either he had to come to Ares city for every board meeting or attend through the video call. Certainly, shifting is easier for someone like Wil.
Meanwhile, Storm was sweating bullets as he was doing everything that his beloved young master despises just so to cover up his mistake. If the company shifted to Leafway city, he will be under the radar of Silver too. It will only make his work very difficult.
"After we shift to Leafway, this building will be used for commercial and residential purposes. Before that, talk to the authorities and acquire land in the outskirts of Leafway city.
It should be big enough to have several residential apartments for all the staff members, playgrounds, parks, training centers, a stadium, of course, office buildings for different departments, in simple words, something like a township. 600-meter Skyscrapers like these aren't my taste."
Retracting his hand, Wil then closed his statement, "This is all I have to say in this meeting. Now, before everyone gets back to their work, I need the past five year financial reports of Scarlet Securities and its subsidiary companies on my desk, right now."
Everyone immediately stiffened as soon as they heard those words. They couldn't help but glance at Storm.
Originally, Wil had no intentions of making the company go public because of three reasons.One, he isn't really interested to earn more money as he was content with what he has. Not to mention, his current wealth is more than enough for even the next ten generations.Two, he was worried that he wouldn't be able to play War Online in peace if the company goes public as he will have to work harder in the future to care about the company's net worth, share price, investing of other giant corporations, frequent board meetings, etc...And three, if the company goes public, the board of directors will have more authority than in the present situation. They can even remove him as the chairman if necessary like how he did with Lu Heibei. But, if he owns everything, his words will be final and no one would dare go against his wishes.He doesn't want to bother with all this stuff and let the company run as it is However, upon learning that Scarlet Group even has five subsidiary companies, he fell into deep thoughts. It's not about whether to go public or not. Rather, he was thinking about something else. Until now, he thought Scarlet Securities is the only company that was generating profits. In his past life, he stayed Ecrin city in the western continent, where Scarlet Group or its subsidiaries doesn't operate. So, he knows nothing about it, before either.His father died without telling him anything and Silver was just letting him do what he wanted to do.Upon listening to the details from Maria, Wil now realized that several companies needed to be taken care of. Just changing a few rules within the company won't do. He also needed to understand how the other companies work.If they aren't generating sufficient profits, Wil intended to close them down and shift the staff to newly acquired Ravens Tech As Wil continued to think, the whole room was filled with silence. No one opened their mouths and just stared at Wil, waiting for his response.After a while, Wil finally opened his mouth, "For now, the company stays private. Ms. Glades, I will consider your suggestion once I sort out everything. But first, let me inform all of you regarding the changes I decided to implement, starting from tomorrow."Everyone just stared at him in silence. In their eyes, since Wil was just a kid without any experience of running the company, they wondered now what kind of mess he will create now.Last time, when he cut back the staff and shifted to his little gaming company, they faced severe losses and received several complaints from the rich clients.Wil then raised his hand and showed them five fingers. "One, There will be no more private assignments. If an employee is in dire need of money, the company will provide a loan with low interests or even no interests if necessary, but from now onwards, no one is allowed to take a private assignment.Two, we will not accept everyone as our clients just because they have money. Every assignment the branch offices receive must be submitted to Headquarters.I'm not sure whether there is an investigation department. If there isn't, now there will be. The investigating department's job is to investigate the background of the possible clients. Not deeply, just on the surface would be enough.Then, their file will be passed through an analysis team that will rate them based on four things. Criminal record, financial status, reputation, and necessity. Our team will then decide whether to offer them services or not. To do that, our branches should be in contact with local police stations.Three, I'm going to form a separate investigation team. Their job is to keep an eye on our employees of all the branches including yourselves.Remember that they will directly answer only to me. So, threatening or giving orders to them is the same as questioning my authority.Four, every employee and team leader will go through monthly assessment and bi-annual assessment.The monthly assessments will let me know whether everyone is following the rules or not. I'm going to ignore whatever happened until now.But from now onwards, extortion, smuggling, drugs, scams, murder, sexual violence, etc crimes like these are absolutely not tolerated. They will be handed over to the police without any second thoughts. It is the number one rule of the company.So, warn everyone to stay away from these things if they are into them in the past. And once again, remind everyone that if they require money, then, don't go into illegal side occupations. The company is willing to lend them a hand at any time. We don't lack the funds.And if they were being threatened by someone, their team leaders need to help them out.As for the bi-annual assessments, those who have good conduct will either receive a promotion, extra leaves, a 1-month salary bonus, or might get a raise.Similarly, people with bad conduct might get a demotion, salary deduction, or even get fired. Prepare new contracts for everyone with these rules adding to them. These new rules are applicable from the cleaner to the CEO. And lastly five, the Headquarters will be shifted to Leafway city."From the moment Wil started to speak of the new changes, everyone just looked at him in a daze. They didn't even know how to react.A client is the one that chooses the company but here, the company will choose the client and that too, based on his merits. If it is just the financial status, and reputation, it will be fine, but criminal record too?The majority of the influential clients of theirs have criminal records in the past Their revenue already dropped by 70% due to the cutting of the staff by more than 1500 members. This kind of system will only make them suffer losses.As for the third and fourth ones, since a few of the directors were also into things like smuggling weapons and drugs in secret, they felt a bit of panic in their hearts. It was only after Wil said that he will ignore the things of the past did they sigh in relief.And the fifth one was no surprise to them since it was within their expectations. After all, Wil was staying in Leafway city. Either he had to come to Ares city for every board meeting or attend through the video call. Certainly, shifting is easier for someone like Wil.Meanwhile, Storm was sweating bullets as he was doing everything that his beloved young master despises just so to cover up his mistake. If the company shifted to Leafway city, he will be under the radar of Silver too. It will only make his work very difficult."After we shift to Leafway, this building will be used for commercial and residential purposes. Before that, talk to the authorities and acquire land in the outskirts of Leafway city.It should be big enough to have several residential apartments for all the staff members, playgrounds, parks, training centers, a stadium, of course, office buildings for different departments, in simple words, something like a township. 600-meter Skyscrapers like these aren't my taste."Retracting his hand, Wil then closed his statement, "This is all I have to say in this meeting. Now, before everyone gets back to their work, I need the past five year financial reports of Scarlet Securities and its subsidiary companies on my desk, right now."Everyone immediately stiffened as soon as they heard those words. They couldn't help but glance at Storm.
