Chapter 32

"While we are waiting for Tom, there is one more thing that Morris wanted me to do today," Mr. Reynolds said, solemnly. He reached into his pocket and handed Missy a sealed envelope.

I watched as Missy stared at the envelope. I could see that she recognized the writing on the outside. With a sad smile, she broke the seal and pulled a two page letter from the envelope, walking over to the sofa to sit and read her father's last message to her.

A tear trickled down Missy's cheek as she read her father's words. She slumped into the sofa and held the letter to her chest. I walked over and sat down next to her, taking her hand in mine.

She smiled at me and folded the letter back up, placing it in the envelope. She didn't say a word, but she put her head on my shoulder and snuggled in close, smiling even more when I put my arm around her shoulders.

"So what did he say, Missy?" Mrs. Harmon asked, staring at me as if it would make me go away.

Missy looked up at her mother. "It was just a happy birthday note, Momma. He passed on a little fatherly advice." She shot me a glance. "And he said he'd be watching you, John."

"Morris mentioned John?" Mrs. Harmon was incredulous.

"Well, not specifically, of course," Missy replied, smiling. "But he did say he was watching over me like he always did."

Mrs. Harmon called the board meeting to order after Mr. Wallace and the board's secretary, Laura Higgins, arrived.

Missy and I were added to the board. Mr. Reynolds read some legalese into the record changing the ownership of the company. The board voted Mr. Warren chairman for the period of one year while Missy learned the ropes.

Mr. Reynolds asked for the floor and Mr. Warren recognized him. I was beginning to catch on to this 'Parliamentary Procedure' stuff. "As you know," Mr. Reynolds began. "Up to now, this board has existed to advise Mrs. Annabelle Harmon on matters of business for the company. It was specifically charged to run the corporation until such time as Melissa Ann Harmon reached eighteen. No mergers or buyouts could be discussed until now. Nabisco, Inc. has made an offer to purchase Harmon Morris, Incorporated for a dollar and thirty five cents per share cash and three shares of Nabisco stock for one share of Harmon Morris stock. Now that Melissa is eighteen, Mrs. Harmon felt it was time for the Board to consider this offer."

I raised my hand. "Question, John?" Mr. Reynolds asked.

"I didn't know there were shares in Harmon Morris. How many shares? And what is Nabisco stock worth?"

"There are one million nominal shares of stock in Harmon Morris, John. They are nominal shares as they cannot be traded publicly, and held for voting purposes only. Nabisco stock is worth about thirty dollars a share."

"So Nabisco is offering about ninety million for the Company," I said as I did the calculations in my head.

"A little more than that, but yes."

"And Harmon Morris is worth?"

"Book value of the shares is one hundred ten dollars, so about twenty million over that," Mr. Warren added.

"We also have a huge balloon payment of fifteen million due in six months," Mrs. Harmon added.

"We can handle the debt," Mr. Perkins said firmly.

Missy chimed in. "If we sell, what will happen to the plant?"

"They aren't sharing their plans with us. Chances are that they will come in and cut back on some things, maybe even close the plant and try to sell it."

"I think we should sell. I don't have any interest in running the plant. Melissa is too young to run it. Profits are down. If we don't get out soon, we'll never get our money out of it," Mrs. Harmon said emphatically.

"I'm not sure that's in the best interests of the town or the workers," Adam Warren said softly. "Too many plants are shutting down around us. Eastbridge lost Maytag last year. Things are really bad there right now. There's nothing else in town. If the Factory closes, two thousand families are on welfare for the foreseeable future."

"Oh, don't be so doom and gloom, Adam," Mrs. Harmon said dismissively. "The employees' twenty percent would come out to more than eighteen million dollars, which should cushion the blow. Besides, my responsibility is to the family, Melissa and I. We need to get out of the bakery business and get on with our lives. I loved Morris, but his devotion to this town is what put him in the grave and its making it tough for me to continue to live here."

"That eighteen million sounds impressive, Mrs. Harmon," Mr. Warren interjected, "but it only comes out to a little more than nine thousand dollars per family. That won't last long without a job."