For the first time in weeks, the conversation focused on what needed to be done rather than on whether anyone had been disloyal by asking questions.
By the time the meeting ended, the parties had agreed to continue negotiating under the revised framework.
The investment was not finalized.
The project was not guaranteed to succeed.
But the company had a realistic path forward.
And that path began with acknowledging that the original assumptions had not been adequately reconciled.
After the meeting, Victor asked Richard to remain behind.
Peter Lawson and Margaret Ellis left.
Henry and his advisers were escorted to another conference room.
Richard closed the door.
Victor stood by the window, his hands in his pockets.
“Do you think this could have been avoided?”
Richard considered the question.
“Yes.”
Victor turned.
“How?”
“By reconciling the model before the investor presentation.”
“Who was responsible for that?”
“Several people had responsibilities. But the approval process was unclear, and no one verified that the final summary reflected all the updated information.”
Victor's expression hardened.
“So nobody is responsible.”
“That's not what I said.”
“Then what are you saying?”
Richard took a breath.
“I'm saying the company had a process failure. We need to identify the decisions that caused it, correct them, and make sure the same thing doesn't happen again.”
Victor stared at him.
“And Naomi Carter?”
Richard hesitated.
“What about her?”
“Was she right?”
Richard chose his words carefully.
“Her preliminary findings were accurate within the scope of her review.”
Victor looked away.
“That doesn't mean she was right about everything.”
“No. She didn't claim to be.”
Richard's answer was gentle, but it struck Victor harder than a direct accusation.
Naomi had repeatedly explained the limits of her knowledge. She had not claimed to understand every engineering issue or every legal provision. She had identified the questions that required answers and refused to present uncertainty as certainty.
She had done precisely what Victor had hired her to do.
The realization was uncomfortable.
He had wanted her to make the project easier to sell.
She had insisted on making it easier to understand.
“Did she know the project was going to have problems?” Victor asked.
“No.”
“Did she know about the revised estimate before we sent the materials?”
“Not before she received the documents.”
“Then how did she find it?”
“She reviewed the files we gave her.”
Victor's expression changed.
Of course she had.
He had assumed that hiring a consultant meant receiving a particular kind of help. He had expected the consultant to work within the boundaries he preferred, emphasize the strengths he wanted emphasized, and present a conclusion that supported the direction he had already chosen.
Naomi had understood the assignment differently.
She had treated it as a responsibility to the people who would rely on the analysis.
Victor returned to his desk.
“Has she been paid?”
“Yes.”
“Has she spoken publicly about the project?”
“Not to my knowledge.”
“Has she contacted the press?”
“Not to my knowledge.”
Victor nodded.
“Good.”
Richard looked at him.
“Why does that matter?”
Victor did not answer immediately.
Because if Naomi had gone public, he could have blamed her.
He could have accused her of breaching confidentiality, undermining the company, or trying to damage his reputation.
But she had not done those things.
She had followed the contract.
She had preserved her records.
She had answered the investors' questions through the appropriate process.
She had allowed the evidence to speak for itself.
Victor had been the one who tried to turn the matter into a dispute about her attitude.
“I suppose I owe her an apology,” he said finally.
Richard's expression softened.
“Yes.”
Victor looked at him.
“You could at least pretend that was a difficult conclusion.”
“I'm trying to be honest.”
Victor gave a humorless laugh.
“Apparently, that is becoming a theme around here.”
Richard did not respond.
After a moment, Victor picked up his phone.
He opened Naomi's contact information.
Then he put the phone down again.
He had apologized to people before.
Usually, those apologies had been brief, strategic, and followed by a discussion of how to move forward.
This would be different.
He would have to acknowledge that he had misjudged her.
He would have to acknowledge that the wager had not been harmless entertainment.
And he would have to accept that an apology did not guarantee forgiveness.
For a man who had spent decades controlling negotiations, that was an unfamiliar position.
Naomi learned about the revised investment framework from a public announcement the following week.
Hale Urban Holdings stated that it had reached a preliminary agreement with the Shanghai investment group to continue negotiations under revised financing and reporting conditions.
The announcement acknowledged that the project had undergone an updated financial review.
It did not mention Naomi.
It did not need to.
She read the statement during a break at Silver Pines.
Daniel stood beside her, looking over her shoulder.
“Does that mean the project is going ahead?”
“It means they're continuing negotiations.”
“Is that good?”
“It could be.”
She put the phone down.
“If the revised terms reflect the actual risks, the project has a better chance of succeeding.”
Daniel nodded.
“And if they don't?”
“Then the investors should not proceed.”
He studied her.
“You really don't care whether Victor gets what he wants, do you?”
Naomi considered the question.
“I care whether the project is evaluated honestly. I care whether the people involved understand the risks. I care whether the workers who might depend on it are given a realistic picture of what is happening.”
“And Victor?”
She smiled faintly.