Bain may do away combined Huang guangyu "Chen"

To weak superiority winning Chen is the best from this they can successfully keep the United States? shareholder status is also willing to capture? more importantly, the Chinese family business from the business in reflection?

Bain is a winner?

Huang guangyu should rethink

The entire event, GOME executives of collective has against GE really surprise capture expectation.

In Xiao announce "incentive programme," the five executives attitude explicitly supports the programme. They are the "betrayal" of the United States? "betrayal" Huang guangyu? the logic is simple, Huang guangyu in power, they not only did not receive any stock, options, even the salary is not more than the same standards high, and the "equity incentive plan" will be give them this situation occurred-shaking changes, therefore, "who we are, we will support the who". I do not know their strengths to capture leading the way is this carried out in-depth reflection?

The GOME shareholders will balance tend Chen, in turnout 81.23% of cases, the shareholdings in 40% of institutional investors, most backward by Chen, also showed that they no longer trust signal capture.

In listing the GOME operation to capture, fully realize the power of the capital, cash share from 75% to 34%, on a separate cash. While all of the shareholders as a result of the repeated cash in and capture a victim, investors pursue their rational to maximize the benefits that they ultimately make this choice.

In my opinion, its roots in the capture of wealth.

Humble's Huang guangyu, accumulated enormous wealth, lack of associated life and values, this issue after the listing in the United States.

In the corporate governance of listed on, GOME, means that has been removed from the family business into a public enterprise, this requires the entrepreneurs gave absolute control of the company; in the humane moral entrepreneurs, who have wealth, the more social responsibility, the true entrepreneur is a group of volunteers for social responsibility is driven by a donkey.

But the Tiger of Huang guangyu has the right to speak as the minimum limits, it was a trip in Macau casino, and respect nature lovers-groups of Confucian merchants style far, these are all worthy of Huang guangyu reflection.

Chen really won?

Public Chen's "crusade against" and "condemned" is not stopped.

But one fact cannot be ignored, a professional manager Chen has acted in the legal framework has been in the Board of Directors acting within the scope of the permission. But public opinion is increasingly positioning in the ethical dimension. Chen Huang, basically, is the company's control, the two sides is basically a contest within the framework of the law. Chen Wong controversy is no exception.

From the listed company level, the United States is all the interests of shareholders and employees, as a professional Manager tool, in law, he should not be simply to capture personal loyalty, but rather should be on the Board of Directors and GOME GOME all shareholders.

This tool seems to understand it more clearly.

The entire event, Chen has repeatedly emphasized the professional managers, modern corporate governance system, to the United States shareholders and investors a standardized, transparent image. Although Chen's "close shop" strategy of beautiful performance figures are not good for the outside world, but the "stock shock" has won the GOME insider of the people.

But the public's negative assessment tool also is not without reason.

Chen at different times, in the face of different investors can show a different image of ability, wonder at the outside world; Chen enough "borrow" money from successful GOME "bribe" soldiers, sufficient public indignation; Chen throughout the event against Huang moves enough outside dazzling; Chen for winning the war into the $ 20 million of unknown origin, sufficient public relations outside conjecture; and Chen will be the largest domestic retail enterprises introduce foreign and release some control over, nor sufficient outside of perplexity.

Even so, Chen still won.

This seemingly more infatuated victories, literally, should be "a victory for equity mechanism", is the institutional investors pursue their own interests to maximize leads the Chen's victory is the private enterprise governance environment.

Bain profit

When the fighting intensified to capture and Chen, stood behind the international investment firms Bain Capital is the theft of his music.

London City Bank analyst Michael LEONG believes that from April this year and no contact with the United States, 8 months, Bain's profit 22.4 billion yields Super 140%.

Moreover, Bain also in 11 of the United States Board of Directors has four seats, the proportion of more than 40%. If the tool and also counted as official to small party allies Bain, Bain in the Board of Directors of "forces" has more than half. This is only the United States civil war Bain in the biggest winners.

International investment banks like see balance has two equal opponents.

Because as long as the gentle pressure in any of the parties, it can be profitable and important method, naturally win higher returns. Bain Capital natural well road. From the final result, Bain Capital's purpose is achieved. And before the decisive battle, in fact, Chen Huang compared to the two parties have lost something, which defeated the idea, to capture the return of the King and the rope set in Chen neck, because Bain Capital can do joint Huang guangyu "off" Chen.

In fact, doped into more national affair, the author believes the GOME scramble originally to quarrel with the "brother" Bain Co. of intervention, so that the two brothers case.

> Bain's win, win in the legends of the game, win in the Chen's dependence on foreign capital, to win in a capture operation on capital, of knowledge of lack of more win in a Chinese family business in bigger and stronger, the transformation of the public enterprises without adaptation and entrepreneurs on the obsession with power and wealth.