Chapter 975 - 332, Box Office Myth_3
The Quanter Family wasn’t entirely pleased about this, but in the end, they had no choice but to accept Donnie’s arrangements. After all, their shares in Trident Shipyard left them little alternative but to comply.
In fact, this was done to better align with the current financial practices in the United States.
George Olympia felt a bit helpless now. He understood Donnie’s plan of leveraging the funds from Trident Shipyard’s IPO for acquisitions and expansions. Logically speaking, as the president of Trident Shipyard, he had every reason—and even a legal basis—to be fully informed of these plans.
Yet Donnie clearly had no intention of disclosing them to him.
As a diligent employee, George Olympia could only swallow his dissatisfaction and move on.
After George Olympia left, Jesse Livermore said to Donnie, "Are we going to continue selling off Venus Bank’s shares in Trident Shipyard?"
The $810,000 already raised was a significant amount, but compared to the funds needed for acquiring Kuhn, Loeb & Co. consortium, it was far from sufficient. Even with the upcoming IPOs of United Artists and Apollo Chain, along with additional funds from Morgan, Rockefeller, and Mellon, $810,000 still wouldn’t cut it.
Thus, Donnie planned to sell off more shares of Trident Shipyard in the interim before formally targeting Kuhn, Loeb & Co. consortium.
Such actions would undoubtedly violate regulations in the modern era, as there are lock-up periods during which shareholders are prohibited from selling their shares after a company’s IPO.
But these laws simply didn’t exist at the time!