New York, midtown Manhattan, at the Westeros Company headquarters.
Michael Jordan, the chairman and CEO of Westinghouse Electric, arrived punctually as invited. After waiting briefly in the reception room, Simon Westeros entered. Jordan stood quickly and greeted him. "Hi, Simon, great to see you."
"Hello, Michael," Simon said, shaking hands with the executive who shared a name with the legendary basketball star. Both sat down on the sofa. Smiling, Simon continued, "I heard you were in New York, so I thought I'd take the opportunity to talk."
An assistant entered with coffee. After Alison left, Michael Jordan asked, "Simon, what can I do for you?"
Simon took a sip of the freshly poured coffee and leaned back comfortably on the sofa. He looked at the head of Westinghouse Electric. "Michael, the Rovno Nuclear Power Plant in Ukraine is set to activate its unit later this year. Two years ago, when the Westeros system helped facilitate the deal between Westinghouse and Ukraine, everyone came out quite happy, didn't they?"
Michael Jordan nodded in agreement. "Of course."
Two years ago, the construction of the fourth unit of Ukraine's Rovno Nuclear Power Plant—initially a $500 million project—had its costs inflated to $1 billion due to the involvement of multiple parties. The enormous profits generated from this project were evident. Thanks to the Westeros system's facilitation, Westinghouse Electric received $600 million of the project share, making it the biggest beneficiary.
Michael Jordan wasn't naive. He had heard rumors about several developments in recent weeks and could roughly guess why Westeros had called for this meeting. However, as the head of a longstanding industrial giant, Jordan wasn't ready to capitulate outright. He wanted to see Simon's intentions first and respond accordingly.
Simon was in no rush. He continued, "I also know that Westinghouse is currently engaged in discussions with the Chinese government on several energy cooperation projects. Coincidentally, as you know, I have a very good relationship with the Chinese government. Perhaps I can help?"
Jordan smiled, feigning excitement. "Simon, if that's possible, it would be fantastic."
"Hmm," Simon chuckled. "Actually, I also know that Westinghouse is planning to sell off its power division, including its conventional and nuclear energy businesses. Pursuing new contracts now is likely just a strategy to raise the division's valuation before the sale, right?"
Jordan's expression shifted, unable to hide his surprise this time.
After acquiring CBS, Michael Jordan had been pushing for a complete transformation of Westinghouse Electric to further expand into the media industry. Recently, Westinghouse had held secret discussions with Germany's Siemens regarding the sale of its conventional power business. Even its leading nuclear power segment was set to be sold in the coming years.
This was highly confidential information, known to fewer than five people within Westinghouse. Jordan was stunned that Simon Westeros was aware of it.
Simon's knowledge came from his memories of history.
In the late 1990s, Westinghouse's series of sales of its core businesses had shocked the industry, with Michael Jordan being mocked as a corporate spy planted by GE's CEO Jack Welch. Armed with this foreknowledge and leveraging the Westeros system's extensive network, Simon had easily uncovered the details.
After a brief pause, Jordan finally abandoned his pretense of ignorance. "Simon, about CBS's recent criticisms of Eaglet, I must apologize. I was unaware of it beforehand." Pausing for a moment, Jordan added, "How about this: I will fire everyone responsible for the news programming tied to this issue. Will that suffice?"
"Very good, Michael. I appreciate dealing with people who understand each other without needing excessive explanations." Simon nodded slightly before shifting the conversation. "However, that's just a minor matter. I'd like you to do something else for me."
"What is it?" Jordan asked cautiously.
"End all financial and banking relationships between Westinghouse Electric and Mellon Financial Group. Cut ties completely."
Jordan was visibly shocked this time, feeling a chill run down his spine.
Westinghouse Electric and Mellon Financial were both headquartered in Pittsburgh, Pennsylvania. The Mellon family and Westinghouse shared a bond spanning over a century. During the Great Depression, the Mellon family's support had been instrumental in Westinghouse's survival.
That history aside, Simon's sudden demand made Jordan realize that the young tycoon was planning to move against the Mellon family. And Simon's approach was precise—a strike at their lifeline.
Among the Mellon family's many ventures—Alcoa, Chevron, Warner-Lambert, etc.—most were limited to specific industries and had diminishing influence due to reduced holdings. However, Mellon Financial Group had broad influence across Pennsylvania and neighboring regions. Losing control of Mellon Financial would cut the family's power by at least half, if not more.
Simon's decision stemmed from an idea he had while reviewing reports on South Korea's government handling the Hanbo Steel bankruptcy during his recent flight back from China.
Industry represents organs; finance represents blood.
Simon intended to sever the Mellon family's control over the "blood"—the economic lifeline of Pennsylvania and nearby regions. Seeing Jordan stunned into silence, Simon continued, "Michael, this wouldn't be much of a burden for Westinghouse. If you agree, I can immediately arrange a replacement bank to take over your business, with favorable terms. That's one thing. Secondly, I know that Westinghouse's acquisition of CBS is just the beginning. Over the coming years, you plan to fully transition Westinghouse into the media industry. It's a great idea. Currently, in Hollywood's Big Seven, Disney, Paramount, and Columbia are controlled by foreign interests. It's frustrating. If Westinghouse steps in to compete, it could be a positive development. If you agree, I can help with Westinghouse's media consolidation efforts in the years ahead. You should know that just TV or just film won't cut it. The future of Hollywood belongs to diversified media conglomerates."
Once again, Jordan was stunned by Simon's insight into his plans. Fear bubbled up as he struggled to compose himself. "Simon, as far as I know, the Westeros system and the Mellon family don't intersect much. Why are you doing this?"
"If you want an answer," Simon shrugged, "consider it a personal grudge."
Simon wasn't one to hold grudges over trivial matters. Having lived two lives and reached his current position, there were few things in the world that could genuinely upset him.
But the world doesn't reward magnanimity with understanding.
If the Mellon family had chosen to provoke him, they would have to pay the price.
Of course, the grudge was merely an excuse.
At its core, it was a battle for control of the United States.
Through intricate webs of interest, the country had been controlled by old-money families for over a century. For Simon, a newly risen figure of new money, to gain control commensurate with his wealth, he had to dismantle the old-money families currently in power.
In the end, there's only so much power in this country. It's a zero-sum game. One side's gain is the other's loss.
This zero-sum game was necessary not only to secure the growth of the Westeros system but also to safeguard Simon's wealth. If the old-money capital continued to dominate, the larger the Westeros system grew, the more it would become a tempting target for those in power.
Jordan was aware of Richard Mellon Scaife's private efforts to short tech stocks and damage the Westeros system. However, he was unaware of the deeper machinations.
Simon's "personal grudge" explanation failed to provide clarity.
Nonetheless, Jordan understood that sitting in this office left him with little choice.
Simon's promises of support for Westinghouse were implicitly threats. If Jordan refused, these "supports" could easily turn into "obstacles."
In China, the Westeros system's influence could, with a single word, cause Westinghouse to lose potential contracts.
In the media realm, even Daenerys Entertainment had to make concessions to CBS during its acquisition of Metropolis-ABC to avoid antitrust complications. For Westinghouse Electric to grow its media business, it would inevitably need to cooperate with Simon's empire. With the Westeros system's increasing connections in Washington, making Westinghouse's journey difficult could be as simple as a word from Simon.
Meanwhile, completely severing ties with Mellon Financial wouldn't harm Westinghouse. The Mellon family, even without Westeros support, wouldn't be able to retaliate against Westinghouse effectively.
In the end, it boiled down to the sheer disparity in power. Westinghouse had no other option.
Quickly sorting through the situation, Jordan made his decision. "Simon, I'll agree. But honestly, cutting ties with Mellon Financial alone won't deal a major blow to the bank."
Simon smiled. "Leave the rest to me. Since you've agreed, have Westinghouse prepare to announce this publicly by tomorrow afternoon. I'll arrange for Eaglet to issue a press release to accompany it."
Jordan was taken aback again.
Tomorrow afternoon. This left him no time to consider backing out or warning the Mellon family.
After concluding the meeting, Jordan, who had planned to stay in New York for other business matters, promptly flew back to Pittsburgh to make arrangements.
The next day, February 26th, Wednesday.
Having worked until past 1 a.m. the previous night, Jordan was still in bed when his assistant called to inform him of an article published in that day's New York Times: "Mellon Financial and Mellon Family Members Implicated in Loan Fraud, Federal Reserve and OCC Launch Joint Investigation."
The article detailed how Richard Mellon Scaife and other Mellon family members had allegedly secured nearly $600 million in loans from Mellon Financial Group over the past few months through improper means to engage in speculative tech stock trading.
The loans were approved in less than a week, with the review process blatantly bypassed.
Collateral provided by the Mellon family, mainly stocks, was significantly overvalued, amounting to fraudulent loan collateralization.
The loans, ostensibly for industrial investments, were instead used for speculative trading, resulting in losses of nearly 90%. This posed significant risks to investors and amounted to embezzlement.
Mellon Financial executives, complicit in the process, were also accused of serious financial crimes.
As a result, the Federal Reserve and the Office of the Comptroller of the Currency announced the formation of a joint task force to investigate the Mellon family and Mellon Financial Group.
Standing by the fax machine in his pajamas, Jordan read through the article. For some reason, he was reminded of Simon Westeros' maneuvers during the 1987 stock market crash. Reports later revealed that Simon had mortgaged Run Lola Run's profits to secure large amounts of cash for shorting the market, a move that, upon scrutiny, also involved significant violations.
But Simon had emerged victorious.
The world rewards winners.
This time, the Mellon family wouldn't be so lucky.
If the Mellons hadn't crossed paths with Simon Westeros, their speculative losses in tech stocks over the past few months would have remained a minor issue.
Many things only become a problem when someone decides to pursue them relentlessly.
In this case, it wasn't just the Westeros system. The White House had clearly gotten involved as well. After all, President Clinton was still ensnared in scandals unearthed by Richard Mellon Scaife's money and influence.
Without Simon's backing, the White House might have had to endure the Mellon family's provocations. After all, the "butler" cannot openly fight the "owner."
But with a wealthier "owner" now in the picture, the dynamic had shifted.
The New York Times article sparked an avalanche of coverage across television, online, and print media. February 26th turned into a disaster for the centuries-old Mellon family.
When the stock market opened that morning, Mellon Financial's stock price immediately plummeted, dropping 11% in just five minutes. Related companies like Alcoa and Chevron, whose stocks had been used as loan collateral, also saw sharp declines.
With the scandal exposed, the Mellon family lost access to alternative funding sources to cover their losses. Mellon Financial was forced to sell off the collateralized stocks to recover the loans.
And the fallout didn't stop there.
That afternoon, Westinghouse Electric delivered another blow.
Michael Jordan publicly announced that due to the uncertainties surrounding Mellon Financial Group, Westinghouse would terminate all banking relationships with Mellon Financial. As one of Pennsylvania's largest industrial giants, Westinghouse's withdrawal triggered widespread panic. Other businesses rushed to withdraw their funds from Mellon Financial, creating a stampede effect.
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