[Chapter 876: Oranges from Huainan]
William White felt good today. Filson had told him that the negotiations with Oceanwide had wrapped up, and the outcome had been satisfactory.
William never envisioned taking over 7-Eleven. If he had that much time, he would prefer to start something entirely new. Furthermore, the success of certain consumer habits in Japan wouldn't necessarily guarantee similar results in the U.S.
He thought about an old adage that went something like, oranges grown in the south taste different than those from the north. The leaves might look alike, but the flavors varied greatly--proof that environmental factors played a significant role.
He chuckled, realizing that invoking such sayings could sound forced. Yet, he found it hard to pinpoint better words in his limited knowledge.
7-Eleven was not rooted in Japan; if one were to reference a proverb, something along the lines of blooms from the wall might be more fitting.
As he surveyed the rundown gas station, William couldn't help but grimace. The convenience store inside was a far cry from what one would find in Japan.
"Filson, is this gas station also under 7-Eleven?"
"Not anymore. It used to belong to Southern Company. We bid on it back in the day, but that old man was just too greedy."
William watched as a group of people filed in, the clerk inside showing no emotion, wearing a long face.
"Man, we're your bread and butter. If you had a gun in your hands, wouldn't your expression be a bit more lively?"
After scanning the store, William shook his head as he exited. Dust coated the bottled water, indicating just how poor the business was.
"Filson, let's have some stats on these types of stores. They're not worth keeping open. I hope the others perform better."
"Sir, are we talking about all the gas stations?"
"Yes, in principle, all of them. If they're not generating profits, we'll close them all down."
"Got it."
"Also, I don't think Hispanic employees fit the cashier role well; if possible, let's hire Asian staff."
This directive didn't need to be formalized; a word to HR would suffice.
William felt torn. Such measures ran the risk of provoking backlash and drawing attention.
Discrimination?
The thought amused him; after all, he possessed Asian heritage himself.
The group left the gas station and drove straight into downtown Los Angeles.
While looking over the shops, Filson felt puzzled. "What's with all the scrutiny? Is this some sort of performance art?"
William viewed this project positively, though many in his advisory group were less than convinced. If they aimed to invest in retail, Costco was evidently a better option.
Through an American lens, one must prioritize investing in Costco first and then in Walmart. Without question, these two companies represented what Warren Buffett dubbed as great businesses.
He considered their input but decided against investing in Walmart. At Costco, his investment could carry weight, whereas at Walmart, he would be just one of many.
Besides, Costco even sold diamonds. If he anticipated high volume, doing business with them was an excellent choice.
Surprisingly, Costco did sell diamonds and charged customers an annual fee. Most amusing was their fiercely loyal customer base, who solely patronized Costco and shunned Walmart.
Despite planning to invest in Costco, William's views on 7-Eleven remained unchanged; it still held significant importance to him.
By evening, William felt utterly overwhelmed. He began to understand why Southern Company had abandoned this hot potato.
He imagined that old man somewhere enjoying a good laugh, thinking, "The Japanese are foolish, but you, William White, are foolish too. Ha! How entertaining."
Due to the differences in lifestyle, the U.S. lacked suitable locations.
Gas stations?
In America, these were self-service; you fill up your tank and then pay inside. Occasionally, you might grab a bottle of water, but that was about the extent of it.
Glancing around, no one seemed to be watching--there would be no reason to run away, would there?
There were reports of people skipping out without paying when gas prices spiked. The U.S. even had statistics on the number of gas station thefts. If those numbers kept growing, unemployment rates would worsen, and the economic situation would spiral further.
Thus, Southern Company managed its own refineries and gas stations to extend their supply chain.
With the supermarket not turning a profit, the gas stations provided some support; if that failed too, they could refine their own gasoline and diesel. William figured that had the company not faced operational challenges, they might have considered purchasing oil fields as well.
William also entertained supply chain extensions, but he wasn't looking to sell gas. 7-Eleven was a prime platform for selling books and periodicals. He wanted access to an offline platform if he needed to venture into mobile payments in the future.
"Filson, let's start in Los Angeles and New York. Have you seen the 7-Eleven in Japan? If the name were obscured, who would think it belonged to the same company?"
"Well, boss, it's true that they aren't anywhere close to those in Japan; they're a far cry from what we see there. Let's begin with high-rise offices, shall we?"
"Good idea. Target high-rise offices, upscale neighborhoods, and proximity to luxury boutiques. Oh, and add exhibition centers and high-end hotels."
With that one statement, William was on the verge of closing 70% of the U.S. locations for 7-Eleven. Thankfully, employment levels were still decent; otherwise, the bigwigs in Pentagon Town would have been throwing fits.
"Damn it, is he buying these stores just to shut them down?"
"Mr. President, that's not entirely accurate. From what I hear, he has plans to open plenty of new locations as well."
"If it were a different time, this would be quite the headache, Alan," said Greenspan, scratching his head. With his meager economic theories, he couldn't possibly grasp William White's perspective. To put it plainly, once you rose to a position of power, it was advantageous to align yourself with smarter players rather than consult me about every little thing.
"Bill, one thing I'm sure of is that Mr. White is a patriot, not a greedy vampire."
Bill's face darkened immediately. A mule is a mule, and Bill Clinton was his own man; those two were entirely different.
"Albert is an idiot; he doesn't even realize what he's doing.
But I never expected them to elevate one person to such heights. The praise was so excessive, and now it will all reverse into doubt. Albert's career is over; he's going to shame his family."
Greenspan didn't know what to say. Here he was, with dirty hands himself, planning to provoke a media mogul; it seemed like asking for trouble.
Albert was a minor character, and few would care about his fate. What truly mattered was that William White began to play hardball.
Both were astute individuals, and William certainly didn't need to go this route. As a media tycoon, suppressing a piece of news that wouldn't make headlines was no big deal.
Yet he chose not to go that route. He fired off the dynamite directly, which was likely to terrify the wise guys. The message was clear: you old monkeys better behave, or he wouldn't hesitate to deal with the lot of you.
*****
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