第一五一二章 凯马特申请破产保护（上）
“董事长，凯马特公司刚刚宣布，今天下午在密歇根州联邦破产法院申请了破产保护，这是我们收集的相关资料。”</P>
1月22日傍晚，余建国和李华斌来到孙健的别墅，余建国双手递给孙健一本打印的资料。</P>
由于募集资金，注册成立GcAEUV光刻机股份有限责任公司，需要孙健这个法人兼董事长亲自出面，一直待在GcA总部，副总裁向冬萍一直陪伴左右，大家都知道前董事长夫人向冬萍和孙董事长的故事，离婚不离家。</P>
“李总，凯马特的股价今天收盘多少？明天是否停牌？”</P>
孙健突然眼前一亮。</P>
前世，孙健知道进入中G市场的沃尔玛，经常排名《财富》500榜首，对凯马特、塔吉特和西尔斯不熟悉，是否破产也不知道？</P>
1996年8月，沃尔玛在鹏城开设了国内第一家沃尔玛购物广场和山姆会员店，引起当地业界一片震动，“狼来了”的呼声不绝于耳，当时有十几家企业联手，希望政府干预。据有关人士透露，避免树敌太多，沃尔玛尽量保持低调，甚至在开业前几次将商品价格上调。</P>
在鹏城有7家淘宝电器商场和12家淘宝便利店，“淘宝电器天天低价”的淘宝电器商场在鹏城耕耘了14年，会员有530多万，是鹏城家电销售的老大，不惧怕沃尔玛的竞争。</P>
“董事长，凯马特的股价今天收盘1.2美元，放量暴跌35%，说明消息已经提前泄露，明日停牌，24日复牌。”</P>
余建国和李华斌眼前一亮，孙董事长对凯马特有兴趣。</P>
作为GpIc电子商务公司的竞争对手，大家对美国第一大零售公司沃尔玛、第二大零售公司凯马特、第三大零售塔吉特公司、第四大零售公司西尔斯、第五大零售公司彭尼公司的经营情况非常清楚。</P>
GpIc电子商务公司2001年营业收入350亿美元，利润14亿美元。</P>
沃尔玛拥有4000多家连锁店，营业收入1933亿美元，利润63亿美元，市值2300亿，位列《财富》2001年第2名；埃克森美孚以2104亿美元的营业收入名列第2，第3、第4、第5是通用、福特和戴姆勒克莱斯勒，安然公司排名16，凯马特排名100。</P>
1962年，凯马特成为美国最大连锁店时，沃尔玛刚成立。</P>
30年前的沃尔玛上市时仅有30家连锁店，收入0.45亿美元，净利润165万美元，市值0.36亿美元，是活在凯马特这个有着70余年历史老字号阴影下的小把戏；10年前，凯马特多少还能同沃尔玛势均力敌，打个平手；然而30年后的今天，沃尔玛一骑绝尘，1995年沃尔玛的利润额超过凯马特、西尔斯和彭尼三家公司之和；2000年沃尔玛利润额54亿美元，三家之和才22亿美元；2001年沃尔玛利润额63亿美元，三家之和只有3.94亿美元。</P>
2001年沃尔玛的规模已是凯马特的6倍。</P>
名不见经传的塔吉特公司也凭借其时髦漂亮的店面，时刻准备夺走凯马特这个美国第二大零售商的位置。</P>
过去十年来，凯马特一直处于半死不活的状态，遭受了以沃尔玛为首的一批竞争者的打压不说，自己也是昏招频出、失误连连。</P>
西尔斯公司业绩多年表现平平，5年前黯然丢掉了1928年以来一直拥有的道琼斯30种工业股票之一的宝座。</P>
“你们喝茶，我先浏览一下你们收集的资料。”</P>
“好的，董事长！”</P>
凯马特之于零售业，正如福特之于汽车业，综合性零售企业的行业标准一度是由凯马特创立的。世界最大的连锁超市、世界最大的零售企业、世界首家使用了现代超市收款系统，是现代超市型零售企业的鼻祖。</P>
凯马特是美国国内最大的打折零售商和全球最大的批发商之一，经营包括传统的凯马特和凯马特大卖场以及凯马特超市；在美国、波多黎各、关岛和维尔京群岛等地区的50个州提供方便的购物。</P>
2001年，为了应对沃尔玛的强悍竞争，cEo查尔斯·康纳威打算将其2113家凯马特店铺全部改造为全天24小时提供全面服务的购物广场，这一年里，康纳威不得不花上整日整月的时间来考虑如何应对沃尔玛的价格战？降低了3万多种商品的价格、把店铺开到了沃尔玛的老家堪萨斯州，甚至还挖来了沃尔玛的不少将领，可是一年下来，购物广场的数量只增加到了124家，而沃尔玛的数量却是在1000家以上。</P>
迫使凯马特申请破产的导火索，是食品供应商弗莱明公司决定暂停向其供货，因为凯马特没有结清过去一周的货款。</P>
凯马特的破产同安然公司的轰然倒塌也有着间接的关联。首先，凯马特和保险公司签定了一种履约保证，根据这种保证，当凯马特没有履行合约时，保险公司会代其支付工人的赔偿金以及枪支和酒类销售所欠的债务，自从同样依赖这种履约保证的安然公司破产后，保险公司出于安全起见而抬高了履约保证的价码，要求保证方提供更多的现金担保，因此凯马特不得不掏光手中的现金去填补这个由安然公司掘出来的窟窿。</P>
由于安然公司引发了有史以来最大的公司破产案，这使得供货商和银行家们变得史无前例的小心翼翼，生怕自己发出去的货和贷出去的款会收不回来，因此货主们纷纷要求货一到就付款。弗莱明一看到凯马特这周没有按合同把钱打进帐就急了，催逼之下，凯马特的cEo查尔斯·康纳威和董事会主席詹姆斯·亚当森连忙关起门来商议对策。然而迟迟没有下文的密议更是引发了其他供货商的恐慌，众人纷纷表示要向凯马特停运货品。</P>
无奈之下，康纳威和亚当森只好跑到当地法院申请了破产保护。</P>
凯马特在全美拥有2114家连锁店，雇员约25万人。</P>
破产保护前，凯马特有10亿美元左右的银行债务、23亿美元的债券、8亿美元的优先股、一些不值钱的普通股以及40亿美元的应付账款。
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