Chapter 791 – Change it to China State Building
Hideki Yokoi and his two sons needed money urgently. The banks and insurance companies were forcing them to sell off their properties to pay off their debts. Without money, Hideki Yokoi could not even pay the interests, and the banks might seize all of their assets.
Kunihiko Yokoi and his younger brother had been looking for evidence against Kiiko Nakahara. They wanted to regain control over the Empire State Building. This building was bought by their father. But currently, it does not belong to them.
Kunihiko Yokoi and his younger brother had to face Kiiko Nakahara and a New York property tycoon, Donald Trump.
After the US property market crashed, Trump’s assets had shrunk by two-thirds. But he got a series of loans to keep his company operating. The annual interest for his loans was more than 200 million USD!
At that time, Trump threatens those bankers. If you all make me bankrupt, you all will get nothing. The banks had no choice but to give in and let him pay the interest later.
How did Trump recover from this setback? One reason was he published his books and the recovery of the property market. Another reason was the management rights of the Empire State Building. His contract with Kiiko Nakahara states that if he can get rid of the two most prominent long-term tenants, he will have the full management rights of the building. His 50% shares of the building will increase in value!
The Empire State Building had management issues for years, and the building lack maintenance. Many tenants were unhappy with the management. In fact, many of the tenants in the World Trade Center were formerly from the Empire State Building. This cause the value of the Empire State Building to fall.
Hideki Yokoi and his sons desperately needed money now. That’s why Kirilenko’s men went straight to look for Hideki Yokoi’s son, Kunihiko Yokoi.
Kunihiko Yokoi was overjoyed when he heard that someone approaching him to buy the Empire State Building. But he was also troubled as he needed to regain control over the building before, he can sell it.
“Feng, it is hard for us to buy the Empire State Building. The management rights of that building are a mess. This building was bought by Hideki Yokoi, but now, Trump and a French trust company have the ownership rights of it. Those Japanese had nothing to do with the building suddenly.” Kirilenko had a headache. Why was it so difficult to buy the Empire State Building?
Feng Yu did not expect Kirilenko to take him seriously. He only wanted Kirilenko to move out of the World Trade Center. Buying the Empire State Building was only a random suggestion.
“Brother Ki, have you been to the Empire State Building? I heard it is old and run down. Wires are hanging from the ceiling and the windows can’t close properly. During thunderstorms, the building will leak, and it is infested with rats. We need to invest a lot in the renovation if we bought this building!” Feng Yu said.
“So what? This is America’s iconic building, and I want to own it! My people had evaluated the building, and if we renovate the building, the rental will increase. We will not make any losses.” Kirilenko replied stubbornly.
The Americans had made a lot of money from Russia. They had acquired lots of Russian factories and brands. Kirilenko wanted revenge and let the whole world know that Russia also has tycoons! Of course, he had to make sure this investment will not make any losses.
Feng Yu thought for a while: “There is only one solution. We must let all parties give in and agree to sell the building. We must prove that Hideki Yokoi is the rightful owner of the building first.”
Hideki Yokoi was in debt. If Feng Yu and Kirilenko made a good offer for the building, he would surely sell. He had no other choices. Even if he refuses, the banks and insurance companies will force him to sell.
Almost all of Hideki Yokoi’s assets in Japan were taken over by the banks, and he still owes the banks lots of money. Those banks were monitoring Hideki Yokoi’s overseas assets closely.
Feng Yu suspects that the ownership of the Empire State Building was transferred to prevent the banks from repossessing it. Hideki Yokoi should be thinking of transferring this building to his sons. But Kunihiko Yokoi interfered and took over the ownership through underhand means.
Hideki Yokoi’s anger was only a pretense. He can’t be telling others that he was offloading his assets to avoid the banks from possessing it.
After Hideki Yokoi was released from jail, he can apply for bankruptcy. He was already in his 80s when he was released, and it doesn’t make a difference. The Japanese have strong family values. All Japanese tycoons wanted to leave something for their children.
Even when Hideki Yokoi’s business had failed, he still wants to leave an inheritance for his children. This was also for him to stage a comeback. Also, Kiiko Nakahara was his daughter from one of his mistresses.
That’s why Hideki Yokoi must step forward and take back the ownership of the building. This would be the best deal for him. It will not be worthwhile if he let someone manage the building, and he just gets a cut from the rental.
There was also a possibility that Kiiko Nakahara was trying to take over his assets. But no matter what the reason was, Hideki Yokoi was the only person who can solve this problem.
“Hideki Yokoi is still in jail. My men had gotten in touch with his elder son, Kunihiko Yokoi. He is the legal successor of his assets.” Kirilenko said.
Kirilenko also wishes he could speak with Hideki Yokoi.
“I think we can only speak to Hideki Yokoi and see if he wants to leave an inheritance for his family. It’s all up to him. If he is smart, he should know what to do. Brother Ki, leave this to me. I will get someone to speak to him. We will buy this building!”
Jianlibao’s branch office in the US had bought a floor of offices in the Empire State Building in the past. But it was changed to rental later. Just two years ago, Jianlibao bought 26 stories of a building in Fifth Avenue.
Jianlibao had successfully penetrated the US market. During the presidential elections two years ago, they sponsored their drinks to the wives of the candidates, and it appeared in a picture of <New York Times>.
These few years were Jianlibao’s best years in the US. They took advantage of the war between Coca-cola and Pepsi to secure market share. But because of their troubles back in China in the later years, they had to withdraw from the US market.
Feng Yu decided to remove all tenants in the Empire State Building after he bought it. He will pick the new tenants and will make this building as the gathering point of Chinese companies. He will ask Jianlibao to return to this building. He might even be able to make some business deals with Jianlibao. He will also let Wind and Rain Electronics, Wind and Rain Home Appliances, etc. to set up branch offices in the US. He wants to rename the Empire State Building to the China State Building!
Translator’s notes: The author seems to be wasting time by beating around the bush. This chapter is confusing and it is so different from the other chapters in the past.