course. He became fearless, and it was frightening.”
“Now that we’re on the subject, let’s talk about Seth’s money.”
“Sure. I’ll tell you what I know, but I don’t know everything.”
“Okay,” Jake said calmly, as if they were back on the weather. For almost forty-eight hours he had been consumed with the burningquestion of what did Seth possess? Finally, he was about to hear it. He had no legal pad, no pen at the ready, just a cup of black coffee before him.
Amburgh glanced around again, but no one was listening. “What I’m about to tell you is not well known. It’s not confidential, but Seth did a good job of keeping things hidden.”
“It’s all about to come out, Mr. Amburgh.”
“I know.” He took a sip of coffee as if he needed fuel, then leaned in a bit lower. “Seth had a lot of money, and he made it all in the past ten years. After his second divorce, he was bitter, angry at the world, broke, and also determined to make some money. He really liked his second wife, and after she ditched him he wanted revenge. To Seth, revenge meant making more money than what she got in the divorce.”
“I know her lawyer very well.”
“The big fat guy, what’s his name?”
“Harry Rex Vonner.”
“Harry Rex. I’ve heard Seth cuss him a few times.”
“He’s not the only one.”
“That’s what I hear. Anyway, Seth got his house and land, and he borrowed heavily against them to buy a big lumber mill near Dothan, Alabama. I was working there, buying timber, and that’s how I came to know Seth. He got it cheap, good timing. This was late 1979, the price of plywood spiked, and we were doing pretty well. We had a good hurricane season, lots of damage, lots of demand for plywood and lumber. He borrowed against the mill and bought a furniture factory near Albany, Georgia. The place made these oversized rocking chairs you see on the front porches of Griddle restaurants, coast-to-coast. Seth negotiated a contract with the chain and overnight they couldn’t make the rocking chairs fast enough. He pledged the stock, borrowed some more, and bought another furniture factory near Troy, Alabama. About that time he found a banker in Birmingham who was trying to grow his small bank into something much bigger, and he was aggressive. He and Seth were on the same page, and the deals came one after the other. More factories, more lumber mills, more timber leases. Seth had a nose for sniffing out businesses that were undervalued or in trouble, and his banker rarely said no. I warned him against so much debt, but he was too reckless to listen. He had something to prove. He bought an airplane, kept it in Tupelo so no one around here would know, and stayed in the air.”
“Does this have a happy ending?”
“Oh yes. Over the past ten years or so, Seth bought about three dozen companies, primarily furniture plants in the South, some of which he moved to Mexico, but also lumber yards and sawmills, along with thousands of acres of timber. All with borrowed money. I mentioned the one banker in Birmingham, but there were others. The bigger he got the easier it became to borrow more. As I said, it was at times frightening, but the guy never got burned. He didn’t sell a single thing he bought, just held on, looking for the next deal. Deals and debts were like an addiction to Seth. Some men gamble, some drink, some chase women. Seth loved the smell of somebody else’s money as he bought another company. He also liked women.
“Then, sadly, he got sick. It was about a year ago when the doctors told him he had lung cancer. He was ripping along at full speed until he went to the doctor. They told him he had a year, max. Needless to say, he was devastated. Without consulting anyone, he decided to sell out. A few years ago, we found the Rush law firm in Tupelo, and Seth finally had some guys he could trust. He hated lawyers and fired them as fast as he hired them. But the Rush firm convinced him to consolidate
“Now that we’re on the subject, let’s talk about Seth’s money.”
“Sure. I’ll tell you what I know, but I don’t know everything.”
“Okay,” Jake said calmly, as if they were back on the weather. For almost forty-eight hours he had been consumed with the burningquestion of what did Seth possess? Finally, he was about to hear it. He had no legal pad, no pen at the ready, just a cup of black coffee before him.
Amburgh glanced around again, but no one was listening. “What I’m about to tell you is not well known. It’s not confidential, but Seth did a good job of keeping things hidden.”
“It’s all about to come out, Mr. Amburgh.”
“I know.” He took a sip of coffee as if he needed fuel, then leaned in a bit lower. “Seth had a lot of money, and he made it all in the past ten years. After his second divorce, he was bitter, angry at the world, broke, and also determined to make some money. He really liked his second wife, and after she ditched him he wanted revenge. To Seth, revenge meant making more money than what she got in the divorce.”
“I know her lawyer very well.”
“The big fat guy, what’s his name?”
“Harry Rex Vonner.”
“Harry Rex. I’ve heard Seth cuss him a few times.”
“He’s not the only one.”
“That’s what I hear. Anyway, Seth got his house and land, and he borrowed heavily against them to buy a big lumber mill near Dothan, Alabama. I was working there, buying timber, and that’s how I came to know Seth. He got it cheap, good timing. This was late 1979, the price of plywood spiked, and we were doing pretty well. We had a good hurricane season, lots of damage, lots of demand for plywood and lumber. He borrowed against the mill and bought a furniture factory near Albany, Georgia. The place made these oversized rocking chairs you see on the front porches of Griddle restaurants, coast-to-coast. Seth negotiated a contract with the chain and overnight they couldn’t make the rocking chairs fast enough. He pledged the stock, borrowed some more, and bought another furniture factory near Troy, Alabama. About that time he found a banker in Birmingham who was trying to grow his small bank into something much bigger, and he was aggressive. He and Seth were on the same page, and the deals came one after the other. More factories, more lumber mills, more timber leases. Seth had a nose for sniffing out businesses that were undervalued or in trouble, and his banker rarely said no. I warned him against so much debt, but he was too reckless to listen. He had something to prove. He bought an airplane, kept it in Tupelo so no one around here would know, and stayed in the air.”
“Does this have a happy ending?”
“Oh yes. Over the past ten years or so, Seth bought about three dozen companies, primarily furniture plants in the South, some of which he moved to Mexico, but also lumber yards and sawmills, along with thousands of acres of timber. All with borrowed money. I mentioned the one banker in Birmingham, but there were others. The bigger he got the easier it became to borrow more. As I said, it was at times frightening, but the guy never got burned. He didn’t sell a single thing he bought, just held on, looking for the next deal. Deals and debts were like an addiction to Seth. Some men gamble, some drink, some chase women. Seth loved the smell of somebody else’s money as he bought another company. He also liked women.
“Then, sadly, he got sick. It was about a year ago when the doctors told him he had lung cancer. He was ripping along at full speed until he went to the doctor. They told him he had a year, max. Needless to say, he was devastated. Without consulting anyone, he decided to sell out. A few years ago, we found the Rush law firm in Tupelo, and Seth finally had some guys he could trust. He hated lawyers and fired them as fast as he hired them. But the Rush firm convinced him to consolidate
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