Dick said with some difficulty.
Walker had completed the first round of negotiations with the Dick couple, and Dick was very happy about the condition that allowed Breton Bank to take over the business of the new casino in Atlantic City, even though it was only one-third of the cash flow. After all, entering into this with him was Morgan.
Dick was not arrogant enough to consider himself on par with the giant Morgan.
But when Walker mentioned Donnie’s demands, Dick could not accept them. Taking on a new casino business that looked very promising now, but whose actual outcome was unknown, would cost him 15% of the company’s shares.
No matter how Dick looked at it, they were not getting a good deal!
"So, Mr. Dick, are you planning to give up on our collaboration with Atlantic City?"
When facing Dick, Donnie became even more assertive.
How could Dick willingly give up on this deal? The geographic conditions of Atlantic City were simply too good, and it was too close to New York. If Atlantic City could develop in the future, then Breton Bank would have even more favorable conditions. If Atlantic City were replaced by a city far away from New York,
Dick would want to bring Breton Bank into this city, but he would be beyond his ability!
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"Donnie, I think we can negotiate on the collaboration, but 15% of the shares is too much. Even if I accept, the board would never agree. Morgan can enter Atlantic City, but Morgan’s plate is too big. The fact that they didn’t even send someone and only had General Electric’s Owen Young talk to you about the partnership shows their arrogance!
Our Breton Bank is different. Although we can’t compare to Morgan in terms of scale, it’s precisely because we’re smaller that many things are easier to handle!"
Dick was persuading Donnie.
Donnie pondered, and this was actually why, after planning to bring in Morgan, he still wanted to introduce a smaller bank. A small bank might not be good at crisis management, but as Dick said, being a smaller bank actually provided a lot of leeway within the current American system.
Not only did Donnie need this, but Nucky did too. Both of them had some money that couldn’t see the light of day that needed laundering, like the side bets on Miss America.
If they collaborated with Morgan, the latter would no doubt be more professional in such dealings, but their fees would certainly also be expensive. Most importantly, such a move could potentially give Morgan leverage over them.
"Dick, do you know why, after more than fifty years in New York, Breton Bank has still not grown big?"
Though Donnie needed Breton Bank more, there was a time for bargaining.
Breton Bank meant much more to Donnie than just a business partner. In America, having one’s own bank made many business dealings much easier!
Dick couldn’t grasp what Donnie meant and asked, "Why?"
"Because you lack vision!" Donnie said bluntly, "Imagine, once the gambling business in Atlantic City is legalized in the future, our new hotel will be the only one with a gambling license, meaning the only casino in Atlantic City.
At that time, all the people of Atlantic City would be serving this casino. Once your Breton Bank becomes the cooperative bank for this new casino, your clients won’t just be gamblers, but all the citizens of Atlantic City.
What’s more important is that Atlantic City will definitely attract the richest people from across the United States. If at that time Breton Bank could partner with a few of them, maybe in another fifty years, Breton Bank would become a presence like Morgan!"
Dick was silent. He hadn’t considered the prospects described by Donnie, so when Donnie laid them out, Dick couldn’t help but fantasize about that future scene.
"I must admit, Donnie, the future you describe is very tempting, but I still cannot agree to giving up 15% of Breton Bank’s shares. The board members only see immediate benefits. Trying to exchange future gains for their current interests, I understand these people better than you do, they won’t agree!"
Dick said painfully.
"Donnie, Madeline has already agreed to partner with Walker, so in effect we are already partners. With Madeline’s support, the likelihood of Walker reclaiming the Astor family’s wealth from Vincent’s hands is very high. When the Astor family’s wealth returns to Walker,
given the relationship between you and Walker, I’m sure there’s something in it that will excite you!"
Donnie shook his head and spoke with a righteous tone, "Walker is my friend, and him acquiring the Astor family’s wealth is due to his ability. I will not interfere!"
"Sorry, I didn’t consider this thoroughly!" Dick hadn’t expected Donnie to be so principled.