Trading Reality (38 page)

Willie stood up, coughed and stammered. ‘Oh come on Willie,’ I murmured under my breath.

Finally, he got it out. ‘Votes for the resolution, seven hundred and sixty-one thousand. Votes against, thirty-two thousand, three hundred and twenty.’

My heart sank. I looked over to Rachel for confirmation. ‘The bitch,’ she hissed.

Karen had voted against me. My own girlfriend had voted to have me fired.

Rachel leaned over. ‘Seven hundred and sixty-one thousand is thirty-eight point oh five per cent,’ she whispered. ‘That’s basically all the public shares except Jenson’s plus Karen’s three point seven five per cent. The bits and bobs against the resolution were those employees who aren’t here and voted by proxy.’

‘So they only need another twelve per cent to win?’ I asked.

Rachel nodded. I looked down at her piece of paper and then along at my fellow board members. Jenson had 5.7 per cent, Sorenson had four per cent, David had two per cent, and Willie had one per cent. They would all vote for the motion. It added up to 12.7 per cent or 50.75 per cent in total. They would win, no matter which way my father voted.

I saw a smirk on David Baker’s face, and a broad grin on Scott Wagner’s. They knew.

I felt a rush of bitterness sweep up inside me from somewhere in my gut. It felt acidic, like bile. I wanted to retch. I had fought so hard for this company over the last few weeks. I had anticipated how things might have gone wrong: bankruptcy was always a possibility that I had taken seriously. But some-how this wasn’t.

And to be forced out by Karen!

My thoughts were interrupted by Walter Sorenson. ‘Thank you Willie. I now call upon those shareholders present to cast their votes. All those in favour of the resolution?’

The Jenson Computer man raised his hand sharply, but no one else from the floor moved. I was aware of a row of hands being raised along the board table to my left, but I didn’t focus on them. My eyes fixed on my father. He sat there, immobile. Sorenson repeated, ‘Any more in favour?’ I quickly glanced at Sorenson, who was staring at my father, but to no avail.

I felt the tears well in my eyes. I was touched. Dad had listened after all. He had supported me when I’d needed him. It wasn’t his fault that his support was not going to be enough. After the way I had ignored him over the last ten years, I had no right to expect his backing; following Karen’s treachery, it was especially moving to receive it.

‘All those against?’

I raised my own hand, as did Rachel, and my father. The FairSystems people at the back waved their hands up and down. Keith even raised two hands in a typically childish attempt to even the scores.

I looked over to Willie for the result.

My heart stopped.

He was rocking back and forward on his chair, his face ravaged by contortions of anguish. His hands were pushed firmly into his lap, and he was leaning on them in an attempt not to let them escape.

My God, I thought, hadn’t he already voted for the resolution? I realised I hadn’t actually checked to see how the board had voted.

David Baker was staring at Willie too. Within a couple of moments everyone was.

Willie reddened. He hasn’t voted yet, I thought. But he needed to vote against the resolution for me to win. An abstention wouldn’t do.

Willie’s agony was harrowing to watch. I thought at any moment he would collapse, or simply run out of the door.

There was a cry from the far end of the room. I recognised the voice. It was Terry, the big hairy Yorkshireman. ‘Come on, yer great poofter! Stick yer ’and up!’

This was met with cries of agreement from the others at the back of the room, Keith most vociferous amongst them.

Something clicked in Willie. His face cleared, he smiled at the rabble, and raised his hand to a huge cheer.

‘Thank you, ladies and gentlemen,’ said Sorenson, unmoved. ‘Perhaps you could give me the results when you’re ready, Willie?’

Willie put his hand down and shuffled through bits of paper. After a long minute, he handed a small sheet to Sorenson.

‘Votes for the resolution, nine hundred and ninety-five thousand. Votes against the resolution, one million and five thousand. Therefore, I declare that the resolution is defeated.’

A cheer came from the back of the hall. I turned to Rachel. Her eyes shone, and she smiled broadly at me. ‘Well done,’ she said. We shared our success for a moment, before we were surrounded by the FairSystems rabble. They had been courageous, I thought. They had chosen the risky path, which could easily lead to all of them losing their jobs. I was thankful for their loyalty. I would remember it.

I looked over their shoulders into the room. The Jenson representative gathered up his papers, and left alone. Hartman’s man was impassive, and wandered over to Scott Wagner, who chatted to him, throwing bitter glances in my direction. Nigel Young walked past, paused briefly to nod stiffly at me and murmur ‘Well done’, and then left, embarrassed. He was followed by a red-faced David Baker. He glowered at me with a mixture of savaged pride and pure hatred. I had never seen him so angry.

There was a flurry of backslapping as the FairSystems people, Keith and Terry prominent among them, mobbed Willie. It was as though he had scored the winning goal in the cup final, which in a way he had. He had a lop-sided smile on his face. He looked bewildered by the attention, but obviously enjoyed it.

‘Why did you do it?’ I asked, shaking his hand.

‘Oooh, I don’t know. I suppose I just didn’t want to see you lose. I must be mad. Why did I ever leave Price Waterhouse?’

I smiled. ‘I don’t know, Willie, but I’m very glad you did. Thanks,’ I said, and meant it.

The small crowd dispersed. I saw my father talking to Sorenson. Sorenson noticed that I was free, and walked over to touch my arm. ‘Can I see you in Graham’s office in a few moments?’ he asked.

I nodded, and as he walked off, I turned to my father.

There was a lot I wanted to say to him, but I still didn’t feel comfortable saying it. In the end, all I could manage was, ‘Thanks, Dad.’

He grinned at me, his face full of pride. ‘You were right to come and see me in Oxford. And this isn’t something I did for Richard. I did it for you. God knows how you’ll keep FairSystems alive, but I trust you to do it. Good luck.’

I couldn’t say anything. But I knew he could tell from my smile what I felt.

Once again, he had put his trust in me to save FairSystems. And I would do the best I could. For me, for Richard, and for him. For our shattered family.

He took a deep breath. ‘Come and see me in Oxford for lunch one Sunday. Bring your girlfriend,’ he said. He glanced up at me, waiting for an answer.

I paused for a moment. My mother was dead. Richard was dead. My family was standing right in front of me. I needed him. Everything has to be forgiven sometime.

I nodded. ‘That will be nice.’

He tried to contain his smile as he said, ‘See you then,’ and walked out.

I searched out Graham Stephens’ office, and found him in there with Sorenson. Stephens left us to it, congratulating me and saying, ‘Use the office as long as you like. Let my secretary know when you’ve finished.’

Sorenson sat on Stephens’ sofa, and beckoned me to sit in his armchair. He was a lot like Bob Forrester. Both men enjoyed successful careers, and were full of energy and authority. Although older, Sorenson was if anything bigger than Forrester, and fitter. He had an easier charm.

But he had just tried to fire me and had failed. I wondered how this encounter would go, what I should do. Fresh from my vote of confidence, I didn’t feel overawed, and I was sure I was quite capable of standing up to him. Would he try again to persuade me to sell out, I wondered. Perhaps this was just the beginning of a board-room war.

Sorenson began in calm tones. ‘Congratulations, Mark. You have just won a very important vote. As you know, I differ with you on the right way forward for the company. But I must respect the views of the majority of the shareholders, even if that majority is a narrow one.’

I nodded, wondering where this was going.

Sorenson continued. ‘I would be more than happy to carry on as chairman of FairSystems. I think we can both agree that the company has a difficult period ahead of it. As I told you at the time, my proposal of the resolution to remove you was nothing against you personally. I genuinely thought the sale of the company was in the best interests of the shareholders. But I quite understand if you feel that you’re unable to work with me in future. So I’m happy to tender my resignation as chairman, if you want it. It’s up to you.’

I didn’t reply immediately. I was surprised at first by Sorenson’s proposal. But as I thought it through I realised he was right to suggest resignation right away. The company was not going to survive if its chairman and managing director were at loggerheads. He was willing to make peace. As he said, it was up to me.

‘No need to answer right now if you don’t want to,’ Sorenson continued. ‘But it would be a good idea to let me know in the next day or two.’

‘No, that’s all right, I’ve made up my mind.’ I was pretty sure that Sorenson was genuine when he said he would support me. And the company would need all the help it could get over the next few weeks. I didn’t feel anything against him, he had been very open with me at all times. ‘Please do carry on as chairman, at least until the end of the year, if we get that far. We should have a better idea what’s happening then. But you’ll have to accept that I’m not going to sell out, whatever the circumstances.’

Sorenson smiled. ‘Good. I shall be happy to continue. And I kind of got the message about you not being wild about selling.

‘Now, I want to spend today and tomorrow in the company. I think it’s important to preserve morale, and to show that the board isn’t split over this. I’ll call Nigel Young and make sure that he’ll give you his support as well. I’m sure he’ll agree. I’d also like to talk to you and Willie about how exactly we’re going to get through the next few weeks. You have these horrible insolvency laws in this country that make directors liable if a company trades while insolvent. FairSystems must be pretty close to that now. I don’t mind sailing close to the wind on this one, but I don’t want to end up in jail.’

‘Fine,’ I nodded.

‘Also, you’ve got to try to keep the management team together. Can you rely on them?’

‘Rachel, yes. Willie, yes. David, no.’

Sorenson nodded. ‘That’s not going to be easy. This little episode won’t have helped much. But you badly need someone with general business expertise. I admire your guts, but you haven’t got David’s experience. I’ll talk to him, and try to persuade him to stick around.’

I wasn’t sure I wanted him to stick around. I wasn’t at all sure about David. Whenever I thought about the constantly shifting swirl of enemies that surrounded FairSystems, David Baker was always in there somewhere. My victory at the EGM had dealt with an immediate problem, but there were people out there who wanted to see FairSystems ruined or sold, people who had wanted Richard killed, who at that moment might even be planning my death. And I still didn’t know who they were.

David was a link to these people. Perhaps it was wise to keep him where I could watch him.

‘OK,’ I said. ‘He stays.’ I looked at my watch. It was twelve o’clock. ‘I’m going back to the factory now. Shall I give you a lift?’

‘No thanks,’ said Sorenson. ‘I’m having lunch with your father, and I’ve hired a car. I’ll see you about three.’

And he did. The whole factory felt his presence. Despite the predicament we were all in, the result of the EGM had raised spirits throughout the company. Sorenson’s enthusiasm, and visible support for me simply raised them further. Even I began to feel confident that we would get through.

True to his word, Sorenson spent a long time poring over the figures with Willie and myself. We worried over Jenson’s delayed payments. I told Sorenson that I thought Jenson was just trying to weaken us so that he could force us to sell out.

‘That’s typical of Carl,’ he said, grimly. ‘He sure knows how to play it tough. And there’s not a whole hell of a lot we can do about it. I tell you what, when I get back to California, I’ll give him a call. I’ll try to persuade him to give you at least part of the advance payments he originally promised. I can’t guarantee it’ll work, but it can’t hurt.’

We all worked late that night. Finally at nine thirty Sorenson left for his hotel, Balbirnie House. Willie was going to meet him for an early breakfast the next morning to go through more figures.

I headed for Kirkhaven, tired but exhilarated by the day’s events.

When I got home, there was one telephone call I still had to make that evening. The phone rang ten times before she answered.

‘Hello?’

‘Karen? It’s Mark.’

‘Oh. Hello Mark.’ She was expecting trouble.

She got it.

‘Why did you vote against me?’

‘Because you’re wrong,’ said Karen, coldly. ‘You’re carried away with FairSystems, just like your brother was. You can’t see straight. It’s in a mess. You should sell it.’

That riled me. ‘It’s up to me to decide whether to sell or not. It was my brother’s company, I’m the managing director. I can’t believe you could be so disloyal. You, of all people, should have supported me!’

There was silence at the other end of the line.

‘Karen? Karen?’

‘I don’t have to listen to you shouting at me,’ she said, and hung up.

I called back and let the phone ring and ring. But she didn’t pick it up.

We were all three of us bunched round the small table in my office, Sorenson, Willie and I. We were looking at Willie’s daily cash-flow projection, in particular the column headed 13 June. That was two days before pay day, the day when the cash figure went from positive to negative. Negative forty-five thousand pounds to be precise.