Chapter 659: Manuel Stands Out
"Where does the money come from?" one board member questioned.
"Is it possible the funds were temporarily transferred from Phillips Bank and then redeposited?" another boldly asserted, disregarding any potential slight to Manuel.
The meeting room erupted. Such a scenario seemed preposterous. Did Manuel consider them fools? This self-deception was no better than Edward openly favoring Manuel. Murmurs of doubt filled the room. Henry inwardly sneered. Had Manuel underestimated the executives? He was about to humiliate himself.
Susan felt anxious for Manuel.
Manuel pursed his lips. "I'm not that shameless," he stated, a seemingly simple denial that subtly mocked his opponents. The executive flushed with embarrassment.
Manuel produced the operating and financial statements, irrefutably proving no funds were misappropriated from Phillips Bank. This decisive evidence silenced his accuser.
He stammered, "I was merely asking questions. Mr. Johnson's substantial deposit is certainly beneficial to the bank."
Manuel ignored him, showing equal disregard for this second challenge.
Another executive interjected, supporting his colleague. "We admire Mr. Johnson's generosity in supporting Phillips Bank's development. However, we can't determine the precise net profit this ten billion will yield. We lack proof it will increase Phillips Bank's net income by forty percent!"
This was a direct attack. A ten-year, ten-billion deposit would undeniably yield far more than forty percent. Determining the exact rate was impossible without knowing the investment strategy.
Edward, annoyed by their nitpicking, was about to speak when Manuel interrupted. "Hurricane Ventures wishes to borrow ten billion at a basic interest rate. They've agreed to share five percent of the dividend, contingent on receiving the funds within a week. Here's the signed contract. Unless anyone objects, I'll sign it now."
He sent the contract to the secretary, who circulated it. Edward was astonished. How had Manuel managed this so swiftly? He'd not only secured ten billion but also found investors for a loan. Manuel was a genius! Edward, once envious of Cooper Group's Hannah, was now equally impressed by Manuel's rise.
"Is Hurricane Ventures financially sound? Are these attractive conditions deceptive? They promised dividends, but what about the principal?" The executive again raised objections.
Manuel responded, "Hurricane Ventures' backing is the Wold Group—the Wold family. The final page contains their guarantee to cover principal and interest should the investment fail."
The Wold family's financial resources and influence were undeniable. No one doubted them. The questioning executives fell silent, staring at each other, then at Manuel.
Henry fought to contain his rage. How had Manuel accomplished this? He'd secured ten billion and cultivated a relationship with the Wold family, a feat that even the Sawyer Group had failed to achieve.
Henry doubted Hannah's involvement. While her husband, Oscar, had a close relationship with Theodore Wold, the Wold family wouldn't conduct business so casually. How had Manuel done it? Grinding his teeth, Henry admitted he'd once again underestimated Manuel. Manuel's capabilities frightened him; he felt utterly outmatched. The realization was bitter, but he suppressed it.
In the hushed meeting room, Edward stood, a broad smile on his face. His earlier appointment of Manuel might have seemed questionable, but now he felt entirely vindicated.
"Any further comments?" he asked, a subtle dig at certain individuals. Silence reigned.
"I possess a keen eye for talent," Edward declared proudly. "I'm impressed by Manuel's achievements. He's recovered lost revenue, improved yield under immense pressure, and made significant contributions. As chairman, I declare a two-million-dollar annual salary increase for Manuel."
This public display of support silenced any dissent. Instead, enthusiastic applause erupted. Manuel graciously accepted, returning to his seat calmly.
The meeting concluded. Edward was satisfied; someone else was far from it.
Back in his office, Henry swept everything from his desk in a fit of rage. His secretary was terrified into silence. Witnessing the chaos, Susan pursed her lips. She'd anticipated that Manuel gaining her father's approval might wound Henry's pride, so she'd come to console him, but she hadn't expected this outburst. It was the first time she'd seen him so enraged. Was this still the gentle boy who never competed?