Richard leaned back.
"You're asking me to wait while a committee examines invoices."
"Yes."
"And if the audit finds nothing?"
"Then we will have a clearer basis for discussion."
"And if it finds something?"
"Then we will know what needs to be corrected."
Richard stared at her.
"You understand that every week of delay costs money?"
"Yes."
"Investors are becoming impatient."
"Then explain the delay to them."
"They may withdraw."
"Then perhaps they were not the right investors."
Richard laughed.
It was a short, sharp sound.
"You really believe you can manage this company from a small apartment and a dining room table?"
Eleanor looked at him.
"No. I believe the people who manage it should be accountable to the people who own it."
"You're seventy-six years old."
"Yes."
"You've been away from daily operations for more than a decade."
"Yes."
"Then why not accept a generous offer and allow professionals to do what needs to be done?"
Eleanor studied him.
"Because being old does not mean being unable to recognize a bad decision."
Richard's face changed.
He had expected her to become defensive.
He had expected her to argue about her experience.
Instead, she had answered as though his comment were irrelevant.
He pushed the folder toward her.
"Think about the offer."
"I have."
"You haven't even read the full proposal."
"I don't need to read a proposal to know that I won't approve it while the audit is incomplete."
Richard's voice dropped.
"You're making a mistake."
"Perhaps."
"You could be protecting a business that is already failing."
"Then the audit will show us where it is failing."
"You could lose everything."
Eleanor looked at him.
"I have lost people I loved. I have lost businesses I worked for. I have lost money. I have lost time. I know what loss looks like."
She paused.
"But I will not sell the people who remain simply because someone has offered me a large number."
Richard stared.
For a moment, the room seemed smaller.
Then Eleanor stood.
"Thank you for the tea."
Richard did not rise.
"You're refusing the offer?"
"Yes."
"Without negotiation?"
"Without negotiation."
She picked up her handbag.
Richard's expression hardened.
"You should remember that the company needs capital."
"And you should remember that capital is not the same as ownership of everything."
She walked toward the door.
Before leaving, she turned.
"Mr. Halston?"
He looked up.
"Yes?"
"If you truly believe your plan is good for the company, you should welcome an independent review. A good decision does not become worse because someone checks it."
Then she left.
Richard remained seated.
The tea arrived.
He did not drink it.
At 4:10, Christopher Vane entered Richard's office.
"How did it go?"
Richard looked up.
"She refused."
Christopher closed the door.
"Did you offer the full amount?"
"Yes."
"Then she must be more difficult than we thought."
Richard stared at him.
"Do you have something useful to say?"
Christopher placed a folder on the desk.
"I have the ownership information for Northbridge."
Richard opened it.
The first page listed the company's directors.
The second showed its registered address.
The third contained a corporate ownership diagram.
Richard read it carefully.
Then he looked up.
"Why is Vane Strategic Holdings listed as a shareholder?"
Christopher said nothing.
Richard turned another page.
"Who owns Vane Strategic Holdings?"
Christopher shifted.
"I do."
Richard stared.
"You're the beneficial owner?"
"Yes."
"Why wasn't that disclosed?"
"It was a temporary structure."
"That doesn't answer the question."
Christopher took a breath.
"The company was created to manage external service contracts. It was easier to centralize the arrangements."
"Did you disclose your ownership to the group?"
"Not initially."
"Why?"
"Because the company was not intended to be part of the acquisition."
Richard pushed the papers away.
"That is a conflict of interest."
Christopher looked down.
"I was going to disclose it once the contracts were finalized."
"Once they were finalized?"
"Yes."
Richard stood.
"Did you receive payments?"
Christopher did not answer.
"Did you receive payments?"
"Yes."
"How much?"
Christopher named a figure.
Richard's face went pale.
"How much of that was profit?"
Christopher looked at him.
"I don't have the final number."
Richard placed both hands on the desk.
"You're telling me you transferred contracts from the hospitality group into a company you own, then billed the group through that company?"
"It was an operating arrangement."
"Did you tell me?"
"I told you we were consolidating services."
"Did you tell me you owned the company?"
Christopher was silent.
Richard stared at him.
"Get out."
"Richard—"
"Get out."
Christopher gathered the folder.
"You gave me the objective."
Richard's eyes narrowed.
"What?"
"You told me to move the recurring service expenses outside the direct operating structure before closing. You wanted the savings to appear before the transaction."
"I did not tell you to create a company you owned."
"You didn't ask who would own it."
Richard stepped closer.
"Be very careful."
Christopher's voice became harder.