trick you’ve been able to think of, what’s your educated guess on how high you can bump the stock before the bottom falls out of it?”
Again they exchanged glances. Mike pursed his lips. “I employ some pretty good practical psychologists and some dandy statisticians and some bright accountants. The figure we come up with is fifty-four. That’s the place to unload. It may not be the top, but it’s the place where there’ll be enough steam left in it to hold it up there while we unload.”
I thought the figure over and heard myself whistle. Over two and a half millions for Louise alone if she got the word on the right timing. “With no beefs?” I asked them. “How about the SEC? How about the Justice Department?”
“Probably some beefs,” Cam said. “Nothing that can’t be handled. After the bottom falls out, there’ll be some friends who will ride it down, and then we’ll arrange for the sale to an outfit already lined up. With the right timing they’ll get it at less than book, and be glad to get it. By then, of course, it will be off the big board.”
“All this,” I said, “is your second line of defense or something, after you make your survey.”
“There’s no need for sarcasm, Glidden,” Mike said. “You’re not dealing with thieves or vandals. I make damn certain I operate within the law. I’d rather take the money out of Harrison than have it dribbled away over a period of years.”
“How about the town? How about the employees?”
“I don’t think this is the right time to sit around and bleed about that. There are all sorts of social agencies ready and anxious to step into such areas. And, after a time, there will be the inevitable adjustment, and everybody will be happy again,” Bowman said.
“You can’t make an omelette without breaking eggs,” I said.
“I’d hoped you had a little more iron in you, Glidden,” Mike said.
“Remember the rules of the island, Mike. You have to call me Sam, no matter how it hurts.”
He flushed and then grinned. “At least you don’t scare, even though you do sound a little bit Christer. When Harrison starts to climb it will be hotter than a pistol. People will be begging for it. Well plant it in the scripts of a couple of television comics, make gags out of it.”
“If I’m supposed to be bought, I’d like to know the price I’m bringing in the market place, Mike.”
He went over to the writing desk, took something out of the drawer and handed it to me. I looked at the three documents. It didn’t take long to get the picture. And they didn’t play small, either. One was a contract form between me and Michael Davis Dean. He had already signed it. It was dated June second, the day after the Board meeting. It was a three-year employment contract at forty thousand a year. The second paper was a stock option agreement bearing the same date. I was entitled to buy ten thousand shares of Harrison Common from Mike Dean at eleven dollars a share. The third paper was a demand note on a New York bank with the figure left blank.
Mike said, “Will you excuse me and Fletcher for a while, Sam?” They left. I was alone with Cam Duncan. I wondered if they had sensed I felt more at ease with Cam and that, of the three, he was the only one I had found it possible to like.
“The note,” he said, “is in case you need a little extra to pick up the stock.”
“A big package deal. Where does the stock come from?”
“Mike’s personal holdings of Harrison. You come in for a hundred and ten thousand and unload for five hundred and forty thousand on long-term capital gains. Then you’ll have some capital to play with on other deals. I’m frank to admit, Sam, it gives me a little jealous itch. He hasn’t thrown anything like that my way. By the end of three years you could damn well be far enough ahead of the game to retire.”
“First I pinch myself, and then I ask what’s the catch.”
He took a sip of his drink. “Sam, when you
Again they exchanged glances. Mike pursed his lips. “I employ some pretty good practical psychologists and some dandy statisticians and some bright accountants. The figure we come up with is fifty-four. That’s the place to unload. It may not be the top, but it’s the place where there’ll be enough steam left in it to hold it up there while we unload.”
I thought the figure over and heard myself whistle. Over two and a half millions for Louise alone if she got the word on the right timing. “With no beefs?” I asked them. “How about the SEC? How about the Justice Department?”
“Probably some beefs,” Cam said. “Nothing that can’t be handled. After the bottom falls out, there’ll be some friends who will ride it down, and then we’ll arrange for the sale to an outfit already lined up. With the right timing they’ll get it at less than book, and be glad to get it. By then, of course, it will be off the big board.”
“All this,” I said, “is your second line of defense or something, after you make your survey.”
“There’s no need for sarcasm, Glidden,” Mike said. “You’re not dealing with thieves or vandals. I make damn certain I operate within the law. I’d rather take the money out of Harrison than have it dribbled away over a period of years.”
“How about the town? How about the employees?”
“I don’t think this is the right time to sit around and bleed about that. There are all sorts of social agencies ready and anxious to step into such areas. And, after a time, there will be the inevitable adjustment, and everybody will be happy again,” Bowman said.
“You can’t make an omelette without breaking eggs,” I said.
“I’d hoped you had a little more iron in you, Glidden,” Mike said.
“Remember the rules of the island, Mike. You have to call me Sam, no matter how it hurts.”
He flushed and then grinned. “At least you don’t scare, even though you do sound a little bit Christer. When Harrison starts to climb it will be hotter than a pistol. People will be begging for it. Well plant it in the scripts of a couple of television comics, make gags out of it.”
“If I’m supposed to be bought, I’d like to know the price I’m bringing in the market place, Mike.”
He went over to the writing desk, took something out of the drawer and handed it to me. I looked at the three documents. It didn’t take long to get the picture. And they didn’t play small, either. One was a contract form between me and Michael Davis Dean. He had already signed it. It was dated June second, the day after the Board meeting. It was a three-year employment contract at forty thousand a year. The second paper was a stock option agreement bearing the same date. I was entitled to buy ten thousand shares of Harrison Common from Mike Dean at eleven dollars a share. The third paper was a demand note on a New York bank with the figure left blank.
Mike said, “Will you excuse me and Fletcher for a while, Sam?” They left. I was alone with Cam Duncan. I wondered if they had sensed I felt more at ease with Cam and that, of the three, he was the only one I had found it possible to like.
“The note,” he said, “is in case you need a little extra to pick up the stock.”
“A big package deal. Where does the stock come from?”
“Mike’s personal holdings of Harrison. You come in for a hundred and ten thousand and unload for five hundred and forty thousand on long-term capital gains. Then you’ll have some capital to play with on other deals. I’m frank to admit, Sam, it gives me a little jealous itch. He hasn’t thrown anything like that my way. By the end of three years you could damn well be far enough ahead of the game to retire.”
“First I pinch myself, and then I ask what’s the catch.”
He took a sip of his drink. “Sam, when you
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