Authors: Avi Domoshevizki
New York, October 23, 2013, 7:45 AM
Ronnie opened his eyes, glanced at his watch, and quickly sat up
when he saw where the hands were pointing. He couldn’t recall the last time
he’d slept so late. He’d spent most of the night next to Liah’s bed. Last
night, when he had reached her hospital room, she seemed like a small pale dot
in the middle of a white hospital sheet. She was in a daze from all the
medication she’d received, and they hardly spoke. The doctor who arrived after
midnight to follow up with her asked to speak with him outside the room.
“We gave her a cortisone shot and some sedatives to relieve the
symptoms during the night,” he reported. “It’s important for us to know whether
Liah has undergone stressful events lately. Crohn’s is a disease suffered by
perfectionists. When something ruins their plans, they react with stress, which
in turn awakens the Crohn’s demon from its sleep.”
“Not as far as I know. The only thing I can think of that may
have caused some stress is that I proposed to her nine days ago,” mumbled
Ronnie.
“I don’t think that’s the reason, unless, and pardon me for
saying so, she’s not really interested in getting married. If that’s not the
case, this may be the first time someone has been hospitalized for being too
happy. All right, if you think of anything, please update the medical staff. I suggest
you go home and get a good night’s sleep. With the amount of narcotics she’s
been given, I don’t think Dr. Sheinbaum will be waking up anytime soon,” he
summed up.
Ronnie took the doctor’s advice and went home. He arrived at two
o'clock and spent the rest of the night in his own bed.
He called the hospital and was told no visits were allowed
before the afternoon; it didn’t matter that Dr. Sheinbaum was a staff member.
He hung up, frustrated and dragged himself to the kitchen to make his morning
coffee. Not really interested in the dubious pleasure of taking the subway in
rush hour, he decided to stay and begin his workday from home. He turned on his
computer and discovered an incoming email marked as “urgent” from David. His
lips curled into a smile as he opened the email and read it.
“Per your
request, attached please find a letter authorizing you to be the fund’s sole
negotiator of TDO’s sale. Below, you’ll find Robert’s phone number. Now cut it out
with your games. Call him immediately and close the deal before he changes his
mind.”
Ronnie printed the letter, wrote down the telephone number that
appeared at the end of the message, closed the computer, shut his eyes, and
recalled a sentence his father, an amateur historian, told him Napoleon had
once said to his valet: “Dress me slowly because I am in a hurry.” Sometimes,
you need to take your time. He dressed leisurely and went down to Kumar’s deli
to collect his paper bag. When he returned, he set the table and put out only
half the contents of the bag. Liah’s absence filled him with a sense of gloom.
He slowly sipped the coffee he’d prepared himself while dialing the telephone
number he’d received, and waited.
“Good morning, Robert Brown’s office. Sinead speaking, how may I
help you?”
“This is Ronnie Saar, may I speak with Robert?”
“Just a moment, please.”
“Hello, Mr. Saar. You’re an extremely busy person,” the
authoritative voice of Robert rumbled.
“Hello, Mr. Brown. I apologize for not getting back to you last
night, but there were a few things I needed to finalize in order to conduct the
negotiations with you in good faith. Let’s get to the matter at hand. I
understand from David that Mentor is interested in acquiring TDO. I’d love to meet
with you to discuss the details, of course. I’m available today and tomorrow,
and I’m willing to fly to Chicago immediately, assuming your schedule allows
it, of course.”
“Unfortunately, I’m not available for an appointment either
today or tomorrow,” came the answer Ronnie had expected.
“I understand. So I suggest our secretaries coordinate a time
that’ll be suitable for both of us. Like I said, I’d be happy to come to your
office to save you some valuable time.”
“Before you drag yourself all the way to Chicago, perhaps we
should agree on the terms of the deal,” Robert continued, not even trying to
hide his pleasure at the fact he was now the one holding all the aces.
“Gladly.”
“Write this down,” Robert commanded. “The offer is valid only
till Saturday the twenty-sixth. We’re offering to acquire TDO for three hundred
million dollars. TDO’s shareholders will receive Mentor shares in exchange for
theirs. The exchange rate will be based on the value of Mentor’s shares on the
day the contract is signed. If you agree to the terms, I’ll clear some time for
us to meet on Friday morning, and of course, I can extend the deadline, based
on the progress of the negotiations.”
“The offer is clear. Thank you. I understand that in the past
you offered four hundred million dollars for the company —”
“Patients die, a CEO kills himself,
what
did you expect?
For the value of the company to rise?”
Robert’s tone became coarse.
“I’ll get back to you with an answer later on today. Have a good
day,” Ronnie said with a pleasant voice.
“Remember, you’ve got till Saturday.” The call was disconnected.
Things are about to get interesting
, Ronnie thought
bitterly. He searched his computer for the phone numbers of the three other
board members and began to make the round of calls.
“Steve.”
“Hi, Steve, this is Ronnie Saar, Henry’s replacement as chairman
of TDO. We haven’t had a chance to meet yet, but I’ve heard some great things
about you.”
“Thanks. Sad story with Christian, isn’t it? How can I help
you?”
“An offer’s on the table to purchase the company. They’re
offering us three hundred million dollars through a share exchange. I don’t
have the offer in writing, but I believe it’s serious. In my opinion, it’s an
extremely low offer — almost demeaning — and the moment we prove we were not
responsible for the recent patient deaths, we’ll own a company that’s worth
over a billion dollars. Anyway, I wanted to hear your opinion, as someone who’s
been involved with the company longer than I have.”
“Sell.” The brief answer surprised Ronnie.
“Excuse me?”
“Sell,” Steve sounded determined. “When the lawsuits against the
company arrive, I prefer to be light-years away from it. Just make sure the
contract mentions that the day the purchase is made, we’re released from all
past debts and all future legal claims.”
Ronnie was amazed. “You think there’s a chance the company is
somehow responsible for the deaths?”
“It doesn’t matter what I believe. The moment a lawsuit is
filed, we’ll be at the mercy of jury members who don’t understand the first
thing about microbiology or pharmaceutical development processes. You want to
gamble on the results? I don’t. I’d rather gamble on things there’s a chance
I’ll profit from. The company belongs to my investors, and I have a principle
not to gamble with their money. I hope I’m being clear enough.”
“Every investment is a gamble, but what sets us apart from
gamblers and turns
us
into good investors are good
judgment and the ability to assess the risks as well as the potential upside.
In the case of TDO, I believe the chances of success are high,” Ronnie
attempted to speak convincingly.
“And I don’t! Will there be anything else?”
“No. Thank you. I’ll let you know about my decision as chairman
and the fund’s position soon.”
“I think I know what the position of your fund is, and I hope
you know the wise decision you should take as chairman. I hope you won’t force
me to summon a shareholders’ meeting that’ll compel you to make the right
decision.”
Anger began to churn in Ronnie’s stomach as he dialed the second
number.
“Hans Schmidt.”
“Hi, Hans, this is Ronnie Saar, I’m replacing —”
“Yes, I know who you are. I just received a message from Steve
to expect a call from you about selling the company. Allow me to save you the
presentation. Sell.
At any price.
The gamble is too
risky here. It’s better to earn less than lose all the money,” echoed the
baritone voice on the other end of the line.
“Hans, they’re offering only three hundred million dollars for a
company that could easily be worth five times as much. Wouldn’t it be
worthwhile for us to wait? Isn’t that the name of the game in our world? The
big success
story
that’ll have your name appear on the
annual Midas List of top tech investors?” Ronnie tried to appeal to his
interlocutor’s ego.
“We all want to be recognized as the best, but the graveyards
are full of lousy gamblers. Ronnie, I really think we should sell — even at an
unattractive price.
The sooner, the better.”
Hans
mellowed down a bit.
“OK. I hear you. With your permission, I’ll get back to you once
I get the opinions of all the parties involved. Thank you for expressing your
opinion in such a clear way. Have a good day.”
“You too.
I hope to hear from you
soon.”
Ronnie wasn’t surprised that his third call was almost identical
to the first two. Sell. We mustn’t gamble. The sooner we
sell,
the better.
Same messages and same manner of speech.
It wasn’t a coincidence that David had waited to send the letter, Ronnie
realized, he’d needed that time to get the investors on his side.
Now they
know my fund wants to sell. No wonder they’d all used the word “gambling.” It
was the same word Henry spat in my face just a few days ago. This game is
fixed, and I’m the only player on the field not in on it. On the other hand,
perhaps I’m wrong and they’re right, maybe we should sell.
Ronnie stood up and began to pace the room, trying to postpone
the inevitable. Finally, he dialed Robert, and when the latter answered, said,
“OK, Robert, the company’s board has agreed to the acquisition. Please send me
a detailed offer and set up a time for our meeting.”
“You’ve made the right decision,” Robert determined. “I’ll send
you the documents later today. They’ve been ready and waiting for three weeks.”
Ronnie could have sworn he heard him laughing contentedly before hanging up the
call.
New York, October 23, 2013, 12:30 PM
The telephone ring startled Ronnie. Brian’s name flickered on the
screen.
“Yes, Brian.”
“I think you should come to the hospital. I may have finally found
a breakthrough that’ll shed some light on everything that’s happened.” He
wasn’t able to conceal his pride.
“It might be easier if you’d just tell me,” Ronnie practically
barked at him, then immediately regretted his words and added, “My
fiancée is in the hospital, and I was about to go visit her. It would be
very helpful if you could update me over the phone.”
“I’m afraid that’s not an option; it’s important that you come
here,” Brian said secretively. “I’ll wait for you in the same place we met last
time.”
“I hope there’s a real good reason. I’ll be with you in half an
hour,” Ronnie muttered, slightly put out.
He remained
seated,
feeling drained,
and stared at the silent telephone. Finally, he pulled himself together,
collected his bag, and marched toward the subway station so immersed in his own
thoughts, he didn’t notice the man with the Asian features following him and
entering the subway car next to his.
Thirty-five minutes later, he stood, as promised, in front of
the reception desk and saw Brian whispering with one of the department doctors.
When Brian noticed him, he threw the doctor a remark and she burst out
laughing. Then he patted her on the shoulder and approached Ronnie.
“Let’s go down to the cafeteria,” Brian whispered mysteriously
and turned toward the elevators without waiting.
Something has taken the shyness out of Brian
, Ronnie
thought and followed him silently.
When they reached the cafeteria, Brian led Ronnie to a corner
table, sat in front of him and sent him an indecipherable gaze.
“Do me a favor, we’re not actors in a spy movie,” Ronnie said
impatiently.
The sharp words took the wind out of Brian’s sails all at once.
He lowered his eyes and a blush spread up his neck.
“I’m sorry, Brian.” Ronnie placed his hand on Brian’s arm. “I
really appreciate what you’re doing, but I’m under a lot of pressure. I’m sorry
for erupting like that. It was uncalled for.”
Brian raised his head and quietly said, “No, you’re right, I got
carried away. Sorry.” He looked at Ronnie, and when he saw that he’d calmed
down, continued, “As you’ve noticed, I’ve managed to establish a pretty good
relationship with the staff, especially the female members.” The blush rose up
from his neck to his face. “After you left the hospital yesterday, I continued with
my efforts to try to understand what’d happened and mainly to understand what
our friend, the Muslim doctor, had meant by talking about our patient’s
‘misfortune.’ I checked with all the nurses and doctors, but no one would talk.
I have to admit I was very frustrated —”
“Brian, let’s get to the point,” Ronnie interrupted as gently as
he could.
“Sorry.” Brian smiled with embarrassment. “A short while after I
called you, one of the receptionists came to me, her name’s Gabriela, and asked
how much the information I’m trying to get is worth to me. I was very
surprised. I’ve never had a special relationship with her. You know, she’s
old…”
Ronnie gave him a hint by raising an eyebrow.
“Yes…I’ll keep it short. I asked her what she meant, and she
told me her son was just accepted to MIT. He wants to study genetics. He
received a partial scholarship, but unless he gets a full scholarship he won’t
be able to attend. She gave me a questioning look, and I immediately told her
our company helps outstanding students, but I’m not in a position to promise
her anything. I tried to figure out what information she has, but she was very
secretive. Finally, she suggested I bring someone who’s authorized to promise
her what she needs and went away. That’s why it was important for you to come
personally.” Brian stopped talking and stared at Ronnie.
“Let’s go talk to her.” Ronnie started to leave his seat.
“She won’t talk to you in the hospital.” Brian motioned with his
eyes for Ronnie to sit back down. “She finishes her shift in about half an hour
and will meet you at 97th Street at the Central Park entrance. I suggest that
we go back to the department. She’s sitting in the office in the reception area
and she’ll be able to see you through the glass. Once she’s seen you, you’ll go
wait for her at the scheduled location and let her be the one to initiate
contact. Sorry I’m behaving like I’m in a spy movie again, but this is what
she
requested.” Brian flashed an apologetic smile.
“Terrific. It looks like I have some time to spare before my
cloak and dagger appointment. I think I’ll grab a bite to eat. Want to join me,
Casanova?”
“I…” Brian hesitated but then joined Ronnie as he shuffled
through the food line with his tray.
Ronnie chewed mechanically, his thoughts drifting to Liah and
his worries about her health. Brian, on the other hand, wouldn’t stop reciting
nostalgic and amusing stories from TDO’s history. It was clear he cared deeply
about the
company,
just like many other people Ronnie
knew who were lucky enough to be part of a start-up’s founding team.
“We need to get a move on,” Brian suddenly turned serious and
they walked back toward orthopedics. They stood next to the reception desk and
chatted when suddenly, as if he’d received a sign, Brian shook Ronnie’s hand and
said,
“
I’ll see you later, then. Goodbye.” Ronnie
glanced at the three women behind the desk. None of them seemed particularly
interested in him.
Even though it was a short walk to the park, Ronnie felt the
freezing wind all the way to his bones.
When will I finally learn New York
is cold in October?
He was annoyed with himself. He was standing at the
entrance to the park rubbing his hands furiously to try and warm himself, when
a woman in a blue skirt and gray coat, wearing a pendant with a large silver
cross approached him and asked in a low voice, “Mr. Saar?”
He nodded and began to walk after her into the park. After five
minutes of marching down the park’s pathways, the woman sat on a bench and
waited for Ronnie to join her.
“Brian tells me you have some information that might help my
firm understand a little better what went wrong with the operation,” Ronnie
began, straight and to the point.
“I never said I know what happened during the operation. I only said
I know about something irregular that has to do with it. But there’s another
subject we need to discuss before I’ll be willing to talk.” She stared at
Ronnie with a penetrating gaze.
“OK, let’s take it from the top. My name is Ronnie Saar and I’m
the chairman of TDO. And you are?”
“Gabriela Rodriguez.”
“Pleased to meet you, Mrs. Rodriguez.
I
understand your son was accepted to the MIT graduate biology program, wants to
study genetics, but is lacking some funds to pay for school. He received a
partial scholarship, so I assume he was an excellent student, right?”
“My Javier finished college at the top of his class.” Gabriela's
chest swelled with pride.
“Our company has a small scholarship fund that supports
exceptional students and also provides them with part-time employment.
Regardless of what you tell me, I promise I’ll get him an interview in the
company’s offices in the Boston area. If he’s as sharp as you say, I promise
you, we’ll offer him a scholarship and open many doors for him. I give you my word,”
Ronnie repeated his promise, allowing his words to be digested.
Gabriela examined him with suspicious
eyes,
and after some slight hesitation, asked, “Let me understand, are you saying
that even if I get up and leave right now, you’ll still give my Javier a chance
at a scholarship and see to it that he’s interviewed by your company?”
“That’s exactly what I’m saying.” Ronnie looked into her eyes.
“But any information you might have will help us solve our current difficulties
so we can concentrate on all the good things our company can do for the
community. That’s why I’m asking for your help. I promise that everything you
tell me will be confidential and that I’ll never expose you as my source.”
“And how will I know you’ll keep your word?” she asked, and in
her voice Ronnie could hear years of disappointment over broken promises.
“I don’t know what to tell you. Neither of us really wants any
written documentation of this conversation. I guess you’ll just need to follow
your gut feeling and your heart,” Ronnie explained softly.
“You’ve got a weird accent.” She changed the subject.
“Yes, I’m from Israel, the Holy Land.” He decided it wouldn’t
hurt to try and play the religious card.
The woman rose from the bench and began to pace up and down the
pathway, deliberating how to proceed. Ronnie remained seated. After a few
moments that seemed like an eternity, she sat next to him again, clutching her
handbag close to her chest. “Until very recently, a girl named Roselyn D’Angelo
worked with me in the department. About a week and a half ago, I noticed she’d
been acting really weird, like she was afraid of something. When I asked her
what was going on and if I could do something to help, she avoided the subject
and said she didn’t know what I was talking about. From that moment on, she did
everything she could to avoid me.”
Gabriela paused for a breath, an expression of relief on her
face. “A day before the operation that went wrong, Roselyn told us she’d
decided to go on a trip to Guatemala or someplace like that and handed in her
resignation. I was really sorry to hear that because Roselyn is a hardworking
and honest person, one of the good girls. She dedicated her life to taking care
of her elderly grandmother. When I asked her who was going to take care of her
abuela while she was away, she told me she’d found a home nurse for her. We all
wished her the best of luck and asked her to write us about her trip. She
promised to update us with Facebook posts and pictures. After the patient died,
I accessed the file with the patient information so I could pass it on to the
legal department; that’s our standard procedure. I discovered Roselyn cancelled
an operation for another patient, who’d been scheduled two months ago, and gave
his appointment to the new patient. Out of curiosity, I gave the original
patient a call. Apparently, he’d been told his operation was postponed because
of an unexpected emergency surgery. Needless to say, the tragic operation was
never classified as ‘urgent.’ Out of curiosity, I kept digging and discovered
there was only one emergency operation that day, and it was for a man who was
injured in a car accident that very same morning, long after the operations
were switched. I didn’t tell the hospital management about it, because I didn’t
want to get Roselyn in any trouble…”
Gabriela's eyes wandered nervously to and fro, and Ronnie gently
put his hand on her arm to try and soothe her. “Could you send me a copy of the
documents proving what you’ve just told me?”
“No. I’ve said too much already.” Gabriela stood up, and it was
apparent she regretted talking to him.
“Sit down, please,” Ronnie asked quietly, “and give me your
son’s information so we can contact him. I promise you everything you’ve said
stays between us. I really appreciate your courage in agreeing to speak with
me. You’ve done the right thing.” Ronnie waited until she wrote her son’s
telephone number then took the note from her hand and left the park. A short
time later, an Asian man left a bench at the other end of the path, turned in
the opposite direction, and disappeared among the multitudes walking in the
park.