No. The simplest explanation was always the best; it was a nasty joke.
‘Mary?’ Ben was looking at her. ‘Any comments?’
She blinked, feeling colour rush to her cheeks, caught out in her lack of attention.
She looked down at the memo. They must have moved on from the options she had outlined.
‘About the memo?’ she said.
Mack shook his head. ‘About Ben’s idea.’
‘I didn’t mention it earlier,’ he said. ‘Apologies, but it’s hot off the press. I’ve been working on this this afternoon. But I wondered whether I should walk Mack through it anyway. Thoughts, Mary?’
Thoughts? She had no thoughts. She’d missed it all.
Try to Cover Up
Ben caught her eye. He had a mocking half-smile on his lips, almost as though taunting her. She knew what he wanted; he wanted her to try to cover up, pretend that she knew what he had said, bluster a vague response that hid the fact she hadn’t been listening.
Yes, good idea, why don’t you flesh it out some more?
Forget that. She would come clean.
‘I missed that,’ she said. ‘Could you go through it again?’
Ben nodded. ‘Of course. The final option is to simply walk away from the deal. Leave Tony with his twenty-five percent and Marla with hers and be done with it.’
Mary frowned. When she had consulted Ben earlier in the week he had suggested this and she had told him it was a non-starter. She and Mack had discussed it, and it wasn’t something he was prepared to do. Tony was a friend and Mack didn’t want to mess him about, but more than that he didn’t want to work all hours just to send a dividend cheque for half of what he created to someone else, least of all Marla.
So why was Ben bringing it up now? It wasn’t helpful.
‘We did consider this,’ she said. ‘And I think Mack had some objections.’
‘Yes,’ Ben said. ‘I’m aware. Mack wants to treat Tony fairly, as well as ensure he isn’t working half the time for someone else. And my suggestion might fix that.’
It might, Mary thought. But how would I know? Yes, I should have been listening, but if he had something new he should have shared it ahead of the meeting.
‘OK,’ she said. ‘How, exactly?’
‘Well,’ Ben said. ‘Let’s say Mack walks away from this deal, but instead of paying dividends he invests all the returns in the business – buying land, maybe acquiring a company, whatever. That way, instead of paying out cash, he grows the pie.’
Mary considered it. ‘But between Marla and Tony they own half the company. They can block any of these investments.’
‘Not quite,’ Ben said. ‘Because Mack can get Tony on board. Then they can do whatever they choose.’
‘But Tony wants out,’ Mary said. ‘So why would he do that?’
‘Because when Marla sees what’s going on,’ Ben said. ‘She’ll realize that the only way to get any cash is to take the offer that’s currently on the table.’
‘Or she can sit back and watch the company grow.’
Ben shrugged. ‘Maybe. But my guess is she wants the money now. And from Tony’s point of view it works. Once Marla agrees to sell he can cash out as well.’
‘But what if she doesn’t?’ Mary asked.
‘Then the business grows for a while,’ Mack said. ‘And I buy them out at a later date.’
‘For more money,’ Mary pointed out. ‘You’d be back where you are now.’