Chapter 41: Chapter 41: Television Laboratory
Durant's true intention was to borrow money from George to stabilize General Motors' shares—a self-evident purpose.
He had initially sought help from his old friend Groman, who then introduced him to the young man recently rising to prominence.
Durant assumed it would be an easy arrangement, but the conditions offered were unacceptable. Had George requested Durant's shares, he might have managed something. But George asked for shares from Morgan and DuPont—far beyond Durant's reach.
On second thought, it was understandable. With $50 million in cash, there was hardly a company whose shares George couldn't acquire.
The two exchanged views on the future economy for a while before parting. George had the funds Durant desperately needed, but Durant couldn't offer what George wanted, so for now, nothing could be done.
Although there were no secrets on Wall Street, Groman's conduct today further redefined George's understanding of ethical boundaries. The first instance had been when Lincoln Company learned through Groman about George's purchase of their shares—information that should have remained confidential. A partnership eventually formed, but not without compromising client trust.
This time, Groman didn't even bother with a call. He treated George as a favor to be handed out. He not only leaked George's client information but also failed to inform him of Durant's identity beforehand.
Had George followed his original plan, he could have secured the shares at around $14 per share. But this oversight cost him an extra $300,000 in security deposits. To be precise, George had to spend an additional $3 million. Though it would be deducted from future profits, the amount was genuinely paid.
Was this an attempt to take advantage of his youth? George made a quiet mental note as he watched Groman laughing with Durant in the distance.
The banquet was still ongoing, and a charity auction had begun. Bidding on an item was a subtle rite of passage into the elite circle.
George mingled casually. Being rich, young, and handsome, he drew attention from several single socialites, all thinking themselves worthy matches. He wasn't bored.
Half an hour later, the auction began. George placed symbolic bids on a Chinese antique and a Western oil painting, spending less than $10,000 total. The oil painting fetched a high price, while the Chinese item—supposedly once used by an emperor—sold for just over $1,000.
George recognized the true value. Just from the seal at the base, he knew this artifact would be worth tens of millions in the future. These people simply didn't understand what they were looking at.
After claiming his items, George waved to Durant and Groman from a distance and left the banquet.
—
The next day at the company headquarters:
Upon seeing George, Paul immediately reported, "Boss, the five companies you selected have been acquired. All shares are now in our hands. Should we delist them or release financing news?"
George reviewed the merger report. Market conditions had pushed companies into financial distress—broken capital chains, bankruptcies, and a lack of profitability. Yet they held advantages: skilled workers, established sales channels, and low acquisition costs.
"No need. Let's maintain the status quo for now."
Now that acquisitions were complete, the only thing left was to wait for patent approvals before beginning production modifications. George didn't request major structural changes. For certain products, the use of plastic components would highlight the advantages of new technology.
For example, the handheld hairdryer George designed was, by modern standards, practical and lightweight. But in this era, metal casings were heavy and prone to electric leakage, posing safety risks. So the factories would remain unchanged for now.
"These patents are being applied for and should be granted by month-end," Paul added.
Before attending university, George had given Paul the patents for the agitator washing machine, the hot-and-cold-air hairdryer, a new electric fan, and an enclosed water heater. Once materials were prepared, production could begin.
George then contacted Leland, whose factory was modifying its production line according to George's starting method design. George intended to inspect the new line personally once the upgrade was complete.
He also thought of the two beverage factories. Though he didn't interfere in their operations, he brought out the pull-tab can design and asked Paul to patent it quickly. He wanted to push for its development. Aluminum alloy doors and windows were already being manufactured; ductility remained the main issue, but George expected to solve that after another semester of study.
He also asked Paul to collect information on regional banks, especially those on the verge of collapse. Since he didn't plan to cooperate with American Bank, he needed alternatives. With so many banks failing, acquiring one to open his own wouldn't be difficult.
—
Meanwhile, Ryan and his team returned with the person George had been seeking. Ryan had been away for nearly a month, suggesting the search wasn't easy.
Seeing that Farnsworth's parents had come too, George understood that persuading them must've taken considerable time.
In the conference room, George sized up the confident, thin, 14-year-old boy beside him, at least forty centimeters shorter than George.
His parents, clearly unused to such luxury, seemed nervous.
Baird wore an expression of anticipation.
George spoke directly: "Welcome, everyone. I now announce the official establishment of the Imaging Laboratory. Baird will lead the team, developing mechanical television. Paul will handle logistics, ensuring all lab needs are met and recruiting research personnel. Also, Paul, prepare a directed training contract for Farnsworth and enroll him in school to finish high school. He'll participate in electronic television development as an intern during the holidays. His parents will be employed by the company to look after him—salaries paid on time."
George added, "Paul, the lab will be here, but with high-level security. Only authorized personnel may enter. All experimental details are confidential."
Confidentiality was critical. In his past life, Farnsworth's carelessness had allowed a Russian-born commercial spy to access the lab, ultimately selling critical blueprints to the American Radio Company. Farnsworth—the father of television—never profited from his patent.
The directed training contract was essentially a disguised labor agreement; since Farnsworth was only 14, it required adjustment. George wasn't about to be accused of employing child labor.
After arranging housing and schooling for Farnsworth's family, the group discussed future lab development and responsibilities.
George also instructed Paul to assign someone to manage Baird's meals. Until the lab was fully equipped, Baird would recuperate at a sanatorium—company-paid.
Baird was deeply moved. Was this still a Vampire Capitalist? George just wanted him healthy enough to continue producing results.
Television had to be realized.
George left the rest to Paul and returned to the villa with Ryan. As it was nearly dinner time, he asked the kitchen to prepare a lavish welcome meal for Ryan.
The two hadn't dined together since George had sent Ryan to find Baird. During the meal, Ryan shared stories from his trip to Britain. George, in turn, recounted recent business endeavors. They chatted like family; the meal lasted over an hour.
Afterwards, they rested, then sparred in the gym. Ryan, now more focused, progressed rapidly. With help from the Heart-Shaped Grass, he'd surely surpass Black Panther.
—
The next day, George planned to return to school, but a morning call from the Morgan family disrupted his schedule.
At Morgan Bank, John Pierpont Morgan Jr. (Little Morgan) arrived at his office. His secretary handed him a stack of documents.
"Has the matter been thoroughly investigated?" he asked.
"Yes, sir. Charlie, a family member, learned in advance about the gold escort. He used the explosion to steal three carts of gold. The plan was to blame anti-government groups, but a flaw emerged: the carts were found empty two blocks away. The gold destined for the Treasury vanished that night. The total loss: $900 million."
"Where are the culprits?"
"Charlie and all involved have been detained."
"Hand them over. Compensate for the loss. The Morgan Family has no use for fools."
"Yes, sir."
"If the FBI needs anything, cooperate fully."
"Regarding the negotiation, you assigned Little John?"
"Durant spoke with the other party, but the offer exceeded his authority."
"Oh? What were the terms?"
"They requested shares from both the Morgan and DuPont families."
"They're bold—but overconfident."
"Also, the other party bought 1.8% of shares over the last two days, then stopped."
Hearing this, Little Morgan looked up, thought for a moment, and said, "Arrange for him to come this afternoon. I want to meet him."
"Yes, sir."
The secretary exited quietly.
Little Morgan studied George's file. What was this young man after? He couldn't truly believe that a battery patent alone would earn him Morgan Bank shares. Someone clever enough to improve battery design wouldn't be that naive. Given the matter's importance, Little Morgan decided to meet George personally.
As for the gold heist, handing over those involved would shield the Morgan Family from blame. Whatever the investigation uncovered, none of it would touch them.
—
That afternoon, George arrived at Morgan Bank on time. After exchanging greetings with Little Morgan, they sat down.
"George, I hear you want to trade your battery patent for shares in Morgan Bank and DuPont?"
"That was just a polite way of declining, Mr. Durant."
"Ah. This patent is unique, and your other ideas are intriguing. I don't mind hearing you out. Of course, if you're willing to sell directly, the Morgan Family can be very generous."
"Sir, direct sale is not an option. Time is precious—let's speak frankly."