America 1919-Chapter 678

Chapter 678: 234.

Factional struggle Chapter 678: 234.

Factional struggle Magichi took $100,000 in cash to the Soviet Union.

In this era, unlike the future, one could not just take a flight and land there directly.

Magichi’s planned route was to first take a ship to Europe, and then travel to the Soviet Union by train.

Additionally, he needed to find a way to exchange his $100,000 into Gold Rubles.

As for the Soviet Chervonets banknotes, they would not appear until October of this year.

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As for the Ruble banknote…

well, the speed of inflation during this period was not much different from that of the German Mark.

In fact, the Soviet Union’s issuance of Chervonets and abolition of Ruble banknotes was a bow to economic laws.

In the initial stage of Chervonets circulation, because the gold content per Ruble was nearly the same as that of the Rubles during the Russian Empire, approximately one Chervonets was equivalent to ten Gold Rubles, which quickly gained acceptance.

The opening prices on the exchange were almost at the same level as the British Pounds.

The official exchange rate was actually one Chervonets equaling 1.06 British Pounds, equivalent to 5.14 US Dollars, and this rate would continue until 1926.

With the Soviet leadership deciding to increase investment in industry, doubling the investment amount, inflation began to surface.

Starting from October 1925, they initiated currency intervention, and by April 1926, the foreign exchange gold reserves of the state bank had dropped by one-third, leaving only 2.214 billion Gold Rubles, which led to the decline in Chervonets exchange rate.

Then the Soviet Union introduced Foreign Exchange Certificates…

Yes, exactly like the Foreign Exchange Certificates in the East during the ’70s and ’80s.

At that time, one US Dollar could exchange for 1.94 Foreign Customer Shop Rubles, and the official exchange rate for one Foreign Customer Shop Ruble was 6.6 regular Rubles.

On the black market, the price was even higher: one Foreign Exchange Shop Gold Ruble could often be exchanged for over 50 Rubles.

As for how Magichi would make the exchange, that was his business.

Donnie did not need to worry about these matters.

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In fact, just a few days after Magichi left, Donnie encountered a matter that gave him some headache.

ABC, as America’s biggest commercial radio, held a near-monopolistic status.

All the other radio stations could not compete with ABC.

But now, KDKA had challenged ABC’s listenership.

They introduced a groundbreaking radio drama, finding several Hollywood screenwriters to create a short play for them.

“Based on our research, KDKA initially did not take this matter seriously, viewing it as a common attempt.

However, unexpectedly, audiences across America really enjoyed this format, so while KDKA broadcasted the radio drama, their listenership began to grow.

Although still not comparable to ours, their increased listenership means we’ve lost some of our audience!”

Mashang Evans reported this matter to Donnie.

Donnie sat there, watching Evans with a smile that was not quite a smile, and said, “I suppose you guys didn’t think much of that radio drama at first, right?”

This sort of thing did not just pop up suddenly, as everyone in this industry knew.

When KDKA decided to produce an unprecedented radio drama, this news would have certainly spread throughout the industry from the start.

Moreover, with ABC’s news network, they must have also known about it well in advance.

But Mashang Evans did not follow suit with ABC, showing that, in the beginning, Evans did not think highly of this program that had never before appeared on the radio.

Evans nodded, speaking earnestly, “Indeed, at that time, we truly did not expect that such a program would become KDKA’s trump card!”

Donnie looked at Evans calmly and asked, “Is that all?”

The earnestness vanished from Evans’s face, panic started to set in, but he finally said, “Indeed, there are some other reasons.”

Donnie sighed in disappointment and said, “Since the inception of ABC, you have been its manager.

Over the course of more than two years, ABC’s growth has been inseparable from your work.

I thought you would have quite some prestige in ABC.

I didn’t expect you wouldn’t be able to handle even this!”

ABC, as a large-scale company valued over one hundred million dollars, inevitably saw the emergence of various factions after its initial unity during the entrepreneurial phase.

Donnie, in fact, was not opposed to the internal factional struggles at ABC, he even subtly supported them, as without external competitive pressure, internal competition could easily enhance the company’s combat effectiveness!

In another timeline in the ’70s, Hong Kong’s TVB became dominant exactly because it allowed for healthy internal factional competition, with individuals furiously innovating programs for their own future.

However, TVB’s decline was also due to factional strife, because they no longer had competitors.

With no competitors, they could only focus all their energy on infighting.

Furthermore, the relationships among these individuals within TVB were complex and, additionally, with Run Run Shaw growing older at the time, he was no longer able to maintain complete control over TVB.

Donnie thought such a situation would take a few years before unfolding at ABC, but unexpectedly, ABC’s internal divisions had already begun, driven by the achievements it had made, leading some individuals to start sacrificing the company’s interests for their own.

Evans, appearing somewhat uneasy, said, “Boss, I’ve let you down!”

Donnie spoke with dissatisfaction, “I’m not here to listen to your apologies.

I want to hear your solution!”

Evans replied hastily, “I am already in separate discussions with them.

I believe we will have results.”