Thursday
All or Nothing
The church service was short and informal. Ken would have liked it. The priest asked Bradford to give a 5-minute eulogy telling the group about Ken. “Talk about your relationship with Ken at work, or on the golf course. He had a good sense of humor, but reminded Dave that this was a church service, not a roast.
Dave split his time with Mary, or maybe they each talked for five minutes. She did a much better job.
“Sure, Ken was about work and golf. Dave tells me he was almost a scratch golfer and could talk international financing with the best of them. The people he worked with liked and respected him. He was a man’s man.”
“But, Ken was more than that. I knew him better than they did. Ken was a gourmet chef that spent two years in Paris learning his trade. With Ken, cooking was an art. Shopping for vegetables and meat was a science. He taught me to snap peas and stand a lamb chop on end to hold the juices inside. He showed me how to marinate an average piece of meat to make it tender and delicious. We talked about the art of presentation and the tricks restaurants used to make the food more appealing. He was my friend, and I will miss his tenderness.”
After the service, at least five women sought Mary out to congratulate her on her eulogy. Only one person said, “Dave, nice job.”
Mario suggested Fred’s new Shells in New Port Richey for lunch. Fred would be there and they could mix a little business and pleasure. Bradford hoped to talk with Mario alone, but if necessary, he didn’t mind talking in front of Fred. With Ken gone, Fred was Dave’s new best friend.
Fred recommended the blackened grouper, and it was excellent. “Fred, it was so good that even Ken would have liked it,” Mario quipped. They laughed at the obvious reference to Mary’s speech.
“He was a pretty good cook,” Dave said in defense of Mary. Did you know how many recipes he had in his head? Lots. Mary would ask him how to make a sauce just to see if he was conning us. They checked out.”
“Yeah, Ken must have had a photographic memory,” Mario added.
“I hope it didn’t get him in trouble,” Dave said thoughtfully. “I still would like to know what happened. He was at the top of the world when he came back from Zurich, and hours later he is dead.”
“Speaking of Zurich, Dave, what is this idea you have about resolving the impasse. Don’t worry about Fred, I tell him pretty much everything anyway.”
Bradford made his pitch. “Mario, both you and the Zurich group want to buy out the other. Initially I thought we should try to reach an accommodation and try to make this partnership work, but I don’t think that’s possible anymore. Do you agree?”
“No, it won’t work, Dave. We’ve burned too many bridges. I can tell you that my partners are pissed.” Bradford found it interesting that Mario avoided using Romano’s name in front of Fred.
“Did your friend come through for you, Mario? Do you have the money to buy them out?”
“I’ll have the money Saturday.”
“Okay, the next problem is that unless both sides are in agreement, the other side can tie the projects up in court for years. Everyone’s a loser, Agreed?” They both nodded.
“Here is my idea. Mario, you told me to bet $140 on Buzz Saturday, at 5 to 7 odds. If Buzz wins, you get $100. Do you still feel that Buzz will win? Don’t answer that. Let’s assume that Zurich will bet you even up that I will beat Buzz. Would you take the bet?”
“Even up? You know I would. We’re friends Dave, but money has no friends. How much?”
“The whole project. Winner takes all.”
After a few moments, Fred interjected, “are you saying the loser gets nothing for their share?”
“Good point, Fred, I exaggerated a little. The winner only wins the right to exercise their option to buy out the other party, at the price in my valuation. I get paid an equal sum either way so I do not have a financial stake in who wins or loses. I just want to win, for Ken.”
“Has Sven agreed to bet on you?” Mario asked.
“I will ask him tonight. I wanted to ask you first.”
“Okay, I’ll do it, but I need to be paid by Monday if Buzz wins.”
“Agreed, I’m having the legal papers drawn up as we speak. Their buyout will be conditional upon your receiving payment Saturday. Both of you will need to have wire transfer authorizations put in escrow, to be executed in the event that you win. And Mario, we are friends, but I still intend to win.”
“Dave, for your sake, and Ken’s memory, I wish you would. But I spoke to Buzz earlier and he says he is playing every day and hitting the ball good. Did you know he shot a 70 yesterday?”
“No, I didn’t Mario. There are some things I would have preferred not to know,” Bradford said as the group got up to leave.
“Okay, Fred thanks for the hospitality and great food. You have a gold mine here. By the way, I saw you talking with Gary Gagne last night. Did you bet on Buzz?”
“No, I bet $100 on you Dave. I want Mario’s $140.”
It was almost 3:00 when Mario dropped Bradford off at the office. Chris had left a message earlier saying the legal documents were ready and needed his blessing. Dave told Mario he would get the papers to him first thing in the morning, assuming Zurich agreed to their little wager.
Chris was there going over the documents with Dave’s attorney, Mike Addison, and the lead attorney from the DEA. The DEA attorneys had done the work, but Mario and Sven had to think they came from Bradford. Addison also wanted to be sure that Bradford was protected.
“How do they look?” Bradford asked no one in particular.
“Dave, these guys do great work. It does what you want,” Addison replied. “The winner of the golf match has the right to exercise the buyout provision in Paragraph 14 of your Zurich loan agreement. The money must be transferred Saturday or the contract is voided. Both parties are required to escrow their wire transfer instructions for execution immediately after the winner of the match is determined.”
“What’s my exposure? None, I hope.”
“I don’t see any downside for you. You get a nice commission either way. If Buzz and Mario win, it will just take a little longer. You would get less up front, but you also get a nice chunk of money from future broker commissions.”
“Mike, let’s change my payout to a flat $25M, win or lose. I want to be completely out of this mess after Saturday.”
“Okay, consider it done.”
“We are also changing the wording in a number of places to make it read less like a government contract,” Mike added. “It would be a warning to an experienced attorney. We can have the revised contracts ready by first thing tomorrow morning.”
“Are you available Friday and Saturday if needed? Their attorneys will probably want to talk with you.”
“I’m yours, Dave. The DEA is paying me enough to make it worth my while. There is no charge to you.”
“A free attorney, now that’s an oxymoron,” Dave joked.
“Can you get me a couple free tickets for the match?”
“Very funny, Mike.”
“I like this restaurant, Mary, nice choice,” Sven said as we walked into the Bonefish Grill. “It reminds me of a restaurant in Geneva.”
“Why does Dave call it the Bonehead Grill?” Dag asked.
They laughed, and Mary told the story about the first time they had brought Ken here, and let Ken order the wine. “Ever since he calls it the Bonehead Grill because he learned not to let someone else order the wine when you are picking up the tab.”
“I used to complain to Ken about it all the time, and he kept saying it was only a $45 bottle. I swear it was $60 or $70 because the tab was close to $200 for the three of us. Anyway, it’s a good memory and one reason we chose this place. Besides, the food is great, and I’m buying. I’m also ordering the wine.”
The dinner was delicious. The trout, salmon, sea bass and grouper; all were excellent and the sauces were phenomenal. Sven wasn’t a drinker, so the other three shared a bo
ttle of Kendall-Jackson Chardonnay. Dave limited himself to one glass.
After dinner, Bradford asked Sven if they could spend a few minutes talking business. He agreed, so Dave plowed right in.
“After Sunday’s meeting in Cabo, I was hoping to figure out a way to convince the two of you that we should keep working together. I don’t see that happening, do you?”
“No I don’t, Dave. One of us has to take over. By the way, Dag and I went over your valuation and think it is fair. I’ll pay that amount to Mario, even the $50M.”
“Thanks, Sven. The next challenge is to find a way to determine who will buy out the other party, because if we don’t, this project will be tied up in the courts for five years and everyone will lose. Agreed?”
Sven and Dag nodded, and Dave continued. “I have an idea. You’re aware that I’m playing a two-day tournament for the Club Championship. That’s why I couldn’t get into Cabo until Saturday night.”
“I’m aware of your tournament, Dave. Dag tells me you are a slight underdog.”
“That’s correct. The going odds are 7 to 5. Buzz is probably or four strokes better if we played straight up golf, but match play is an equalizer. I also will have an emotional edge if the match is close; Ken was my mentor and I don’t intend to let him down.”
Sven looked into Dave’s eyes and liked what he saw. “This sounds interesting. What do you have in mind?”
“I want you to bet on me, Sven. If I win the match, you win the right to buy out Mario. If I lose, Mario has the right to buy you out. Mario has already agreed to back Buzz. The only condition Mario requested is that procedure be in place to wire transfer the money Saturday afternoon so that he doesn’t lose his $40M deposit . That’s it, winner takes all.”
“Do you really think you can win?” Dag asked.
“I do. I promised Ken.” Dave held his breath as he waited for Sven’s decision. Sven leaned back in his chair and considered Dave’s offer. He looked at Dave and got the feeling that if the match was close, Bradford would find a way to win – for Ken.
“I accept; winner takes all,” Sven answered, “and let’s hope you win. I assume you have some legal documents you need us to review. Email them to Dag and to my office this evening.”
Bradford didn’t wait. He called Mike on his cell and gave him Sven’s email address and the address for Dag’s portable computer. He turned to Sven.
“Excellent, you won’t regret it. My attorney, Mike Addison, will be available this evening and tomorrow if you have any questions. I won’t be available, I’m going to play some golf.”
Bradford called Chris when they got home and left a message. “Chris, it’s a go. Sven agreed to back me. Mike emailed the contracts to his Zurich office. Call me on my cell if you need me. I have a 9:00 tee time.”
“I had a good time, Dave. How about you? You must be pleased that Sven agreed to back you.”
“I had a good time too, Mary, I’m glad you were there. Yes, I am happy about Sven. It went better than I expected.”
Almost too easy, Bradford thought before he fell asleep.