Chapter 285 Initiating the Vote
"I'm the chairman of the Twin Group, Kaelen," Skyview said, his voice dripping with sarcasm. "If it benefits the Twin Group, I'm all in. But selling Lakeview Express? That's a no-go! You're really something else."
"Skyview, you're so short-sighted," Kaelen said with a confident smirk. "Let me walk you through this. Selling Lakeview Express is actually a smart move for the Twin Group!"
Skyview leaned back, his face unreadable. "Alright, Kaelen," he said flatly. "Enlighten us. Let's hear your genius plan."
Kaelen started, "First off, selling to Erin will boost our ties with ApexTech Group and Erin herself. She's got major clout in Golden Valley's political and business circles. Winning her favor is a big advantage for us!" Kaelen had clearly done his homework. The board members mulled it over.
Skyview scoffed, "So you're ready to ditch our promising Lakeview Express just to get in good with Erin? Kaelen, you're acting like a kid! Business is all about strategy. I'm not saying Erin's shady, but if she was that easily swayed, she wouldn't be where she is now." Skyview had a point.
"Hold up, Skyview," Kaelen said, cutting him off. "Let me finish. Before you took over, Lakeview Express was bleeding money, right? It was a financial black hole for the Twin Group, almost shutting down."
"But now it's profitable," Skyview shot back.
Kaelen nodded. "Sure, it's not losing money anymore, but it's not making much either. We're constantly pumping cash into it, and it's still a money pit! It kills me to see Twin Group's funds going down the drain."
"No risk, no reward," Skyview said firmly. "The bigger the investment, the bigger the payoff! Erin wanting to buy Lakeview Express proves my shared locker model has huge potential. It's worth every cent we've put in!"
Kaelen said, "I agree your shared locker model is appealing, but it has some big flaws. Let me spell them out! First, your shared locker model doesn't have a deposit system, so it can't quickly recoup funds like shared bikes! Second, the sharing economy struggles to turn a profit. Most popular sharing models are losing money, and your shared lockers are no different!"
He went on, "Third, shared lockers are just a side gig for e-commerce logistics. The Twin Group isn't a big player in e-commerce. It's great for major e-commerce companies, but it doesn't do much for us."
"And let's be real, the shared locker model is just that—a model. It's not some uncopyable patent. Remember shared bikes? They got copied in no time. The same thing will happen with your lockers. If Erin can't buy it, they'll just copy it and compete with us directly. How can our capital compete with Erin's Southern Club?"
"These four points alone show that selling the shared lockers and getting a big chunk of cash is the best move for the Twin Group and its shareholders." Kaelen laid out his points smoothly, and the board members nodded along, clearly on his side.
Skyview, looking flustered, blushed and gritted his teeth. "Anyway, I won't sell. I won't allow it!"
Kaelen knew he had the upper hand. He gave Skyview a faint smile and said, "Skyview, you're the chairman, but this isn't a one-man show. Since you're against it, let's put it to a vote! I propose we have a board vote."
John was quick to jump in, "I agree!" He might not be the second-largest shareholder anymore, but John still had a lot of influence as Vice President. His vote was crucial.
Here was how voting worked at the Twin Group: If one director proposed a vote and at least a third of the board seconded it, the vote went through. The final decision was based on the number of votes cast.
As the largest shareholder of the Twin Group, Skyview held 19% of the shares, giving him significant power. According to the rules set by Dylan, Skyview alone had six votes, inherited from Dylan.
Dylan's six votes once held absolute control over the Twin Group. Skyview didn't have Dylan's clout, so he could only hold onto his position.
The second-largest shareholder of the Twin Group had three votes. So if Kaelen voted, he alone counted as three votes. The third-largest shareholder, Mason, had two votes. As for the other executives and directors present, they each had one vote.
"I agree!"
"I agree!"
"I agree too!"
Kaelen's earlier bribes had paid off. Soon, a third of the board agreed to his proposal, triggering the rare board vote at the Twin Group.
Hekka looked worried. It wasn't Lakeview Express that bothered her; Skyview had already planned to sell it. Hekka was worried about Kaelen's growing influence, backed by his own power and the Darkmoon family. His entry into the Twin Group was more intimidating than someone like John! It was a great threat that he became the second-largest shareholder.
The vote was simple: Should the Twin Group sell Lakeview Express to the ApexTech Group? Everyone cast their votes. Skyview, with a serious expression, voted no. Hekka followed suit. Kaelen and John both voted yes. There weren't many directors on the board, so the voting results came out quickly.
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