Climbing the Ladder 5 - Reaching New Heights
Copyright© 2026 by Michael Loucks
Chapter 29: Other Duties as Required
Fiction Sex Story: Chapter 29: Other Duties as Required - Jonathan's business life is booming, but he's also suffering from yet another loss. While he's done his best to pick up the pieces of that sundered relationship, he can't help but feel responsible. However, where two close relationships have withered, another blooms. Violet has transitioned from a badly damaged girl to a vibrant woman. Will he continue to climb this ladder, or will there be another ladder to climb in his future? No matter what, the only direction he plans to go is up.
Caution: This Fiction Sex Story contains strong sexual content, including Ma/Fa Workplace
July 31, 1984, Chicago, Illinois
"Your analysis tracks close to mine," Noel Spurgeon said after I presented my report to him late on Tuesday morning. "Now, tell me why I shouldn't follow your analysis, or mine, for that matter."
"In order to even attempt to salvage either fund, you would have to book the losses with no guarantee you could recoup them by the end of the year, even with the rally projected by our technical analysis. Given the funds' redemption rules, booking a loss is likely to trigger a run, exacerbating the problem and making recovery even more difficult. The reputational risk is tremendous, especially with realized losses.
"I'm not a legal expert by any stretch, but standing pat could provide you a defense if a broad bull market develops next year. But that's a big if. Yes, our models and analysis show that, but all it would take would be Soviet military action in Poland to crack down on «Solidarność», and gold would skyrocket, the market would fall further, and all bets would be off. Our analysis shows that scenario to have a low chance of happening, but given Hungary in 1956 and Czechoslovakia in 1968, it is a real possibility."
"What's your bottom line?"
"Ultimately, to use a technical term, we're fucked no matter what we do with Carl Taylor's fund. Even an attempt to stem the hemorrhaging leaves us open to severe market risk, no matter how well we hedge, AND we'll have booked the losses. Fundamentally, I think you have to liquidate the positions, close the fund, and move the cash to another fund or return it to the investors. Nothing else makes sense unless you're willing to modify the firm's risk tolerance profile.
"I would advise strongly against doing that, as I'm positive both Compliance and Legal would. The last thing we need to do is attract Imperial attention. I'm also revising my view on transferring the positions to an external brokerage, as that could lead to a tax nightmare for Spurgeon Capital due to carried interest and the fund's dissolution. To make matters worse, that would hit the Spurgeon Millennium Fund, given its composition."
"I agree. With regard to Fletcher's fund, how confident are you in your strategy?"
"I'd give it a 75% chance of success with current and projected market conditions, but it would require tearing up the asset allocation plan, which grants any investor the right to redeem their shares immediately, with no lockup and no penalties. You would need written agreements to waive that provision of the contracts; otherwise, you risk a run."
"Did you consider anything not in your report?" Noel asked.
"I briefly considered moving all their positions to another Spurgeon fund, but it would depress or even wreck that fund's return, making the reputational risk even worse. I also considered severing the funds from Spurgeon and having Taylor and Fletcher form their own firm, but I don't think it would be viable for a number of reasons, and would leave us exposed with no control.
"The final thing I considered was selling those two funds to someone. The problem with that is the discount would be too steep, assuming you could find a buyer for those piles of shit at any price, because, again, that provides investors the opportunity to walk away, which they likely would. In the end, the only solution is to liquidate Taylor's fund and follow either your strategy or mine to polish the turd that is Fletcher's fund."
"What would you do to try to salvage the client relationships?"
"Emoluments of some kind, such as reducing or even waiving the management fee for a year, which, in effect, gives them a free gain of up to 2%. Another option is a higher hurdle and reduced cut from the gains above the hurdle."
"Would YOU be willing to do that in your fund?"
"I could see my way clear to do it for the good of the firm, yes."
"And a way to gain AUM?" Noel asked with an arched eyebrow.
"I didn't say I was being completely altruistic!" I chuckled. "That had crossed my mind."
"And the lawsuits?"
"We're Americans, so we have a god-given right to sue anyone for anything, and juries hate ultra-rich bastards like you. They probably hate young, up-and-coming, rich, snot-nosed kids like me, too."
Noel laughed, "You're right, of course. Gutsy calling me a bastard."
"I meant it as a compliment," I replied with a grin.
"Listen, punk..." he growled, but it was good-natured.
"Did you, or did you not, compliment me for standing up to you and speaking my mind?"
"Fuck you, Kane!" Noel exclaimed with a grin of his own. "Keep all this under your hat; you'll hear from me when I'm ready to pull the trigger. Dismissed."
I nodded and left his office. His tone and body language made it clear that I was going to be involved 'when he was ready', and that was going to be soon, not the end of December. The numbers demanded it, as every day increased the risk that neither fund would be salvageable, no matter what we did.
"You had a phone call from Roger Schumann while you were meeting Mr. Spurgeon," Violet informed me when I returned to my office.
"Thanks. Did he give a specific time I should call?"
"No."
I went into my office, found his number in my Rolodex, and dialed the number.
"Roger Schumann's office," a female voice announced.
"Good morning. Jonathan Kane, returning Mr. Schumann's call from earlier today."
"One moment, Mr. Kane. He's expecting your call."
She put me through.
"Schumann."
"Kane, returning your call."
"I think we can work together, but I'd like to meet you face-to-face."
I quickly looked at my calendar.
"I can be in New York any day during the next two weeks except Fridays."
"Let's say Wednesday the 8th; my office at 11:00am. We'll have lunch, and I'll introduce you to some people."
"You're at One Times Square, right?"
"Yes."
"Then I'll see you on Wednesday, August 8th at 11:00am."
"Good. Tara insisted I relay a message that you call her and have dinner with her if possible when you're in town."
"I'll call her and make the arrangements. I'll see you next week."
We said 'goodbye', and I hung up. I had Tara's home number, and it was just after noon in New York, so I dialed the number.
"Schumann residence; Tara speaking."
"Hi, Tara! It's Jonathan Kane."
"Hi! Dad said he was going to call you."
"He did, and I'll be in New York on the 8th for a meeting. He suggested you want to have dinner."
"I do! When are you flying in?"
"I need to speak to the travel agent, but it's probably best if I fly in on Tuesday so I can deal with any flight delays or cancellations without impacting the meeting with your dad."
"Well, this is New York City, so unlike Chicago, no matter what time you get in, we can have a really nice dinner. You can get a full multi-course steak dinner at 2:00am, at a top restaurant, if you want!"
"Good to know. Let's plan dinner on the 7th. I'll call you back once I make the flight arrangements."
"Awesome!"
We said 'goodbye', and once I'd ended the call, I dialed Windy City Travel to speak to Barney. He answered, and I explained what I needed.
"You'll want to stay at the InterContinental Times Square, which is about a five-minute walk from One Times Square," he said, and I heard keys clicking. "I can get you on an American Flight at 2:30pm, 4:30pm, or 6:30pm. United flights are on the odd hours."
The flight was about two hours, and I'd lose an hour, which meant either 2:30pm or 3:30pm was best, given I'd have to get from LaGuardia to the hotel.
"2:30pm works best," I said. "Return flight should be late afternoon or early evening."
"7:00pm and 9:00pm on American are available."
"9:00pm will work best," I said.
I made a mental note to let Erin know I wouldn't be home until around midnight that Wednesday.
I heard keys click, then he said, "Confirmed. You'll want a car from LaGuardia to the hotel, right? And for the return as well?"
"Yes."
"What about in Chicago?"
"Chicago Livery; use my account."
"I'll fax the full itinerary this afternoon. Is there anything else?"
"Actually, I have a question — on that Hawai´i trip, is there any chance of changing it to depart on the 27th?"
"No. The tickets are part of a block on a specific flight. May I ask why?"
"The 27th is the one-year anniversary of my wife's death. I didn't think about that when I agreed to take the tickets."
"You know what, let me call the airline and see if there is anything I can do based on that. For the hotel, we'd just change your arrival date, and they could book that room for a night and earn the extra revenue. That won't be a problem."
"Thanks, Barney. I appreciate it."
"Don't thank me yet!"
"The effort is appreciated, either way."
"Thanks."
We said 'goodbye' and ended the call. I made a note in my Day-Timer, then went to Violet's desk to let her know.
"Am I going with?" she asked.
"Not this time. It's just a meet-and-greet that was arranged by one of Deanna's friends from the School of the Art Institute."
"Uh-huh," Violet smirked. "NOW the reason becomes clear!"
"Don't you have work to do, Miss Clemmons?"
"Teasing you is part of my job description! What do you think 'other duties as required' means?"
"At Spurgeon?" I asked with a smirk. "Blowjobs, among other things!"
Violet laughed, "You get those anyway!"
"And I appreciate them! In any event, Barney will fax over the itinerary later today."
"OK. The materials you need for Friday's meeting with the unions in Overland Park are ready. Do you want them now, or should I hold on to them until you leave on Thursday afternoon?"
"Put them on the credenza in my office, please."
"Sure thing!"
I returned to my desk and called Noel Spurgeon's office. Julie put me right through.
"What is it, Kane?"
"I have a meeting on Wednesday of next week in New York with an M&A guy from Lehman Brothers."
"Most of the guys I knew at Lehman left during the power struggle between the traders and investment bankers, so new contacts are good. What do you have going with Lehman?"
"This is relationship building, which will hopefully get us better IPO allocations as well as the opportunity to provide financing via preferred stock."
"Who? And how did you meet him?"
"Roger Schumann; his daughter is a classmate of Deanna's at the School of the Art Institute."
"What did you offer him?"
"One and ten on his family money, plus sharing contacts and information. His wife is with Bank of New York, focusing on wealth management."
"That sounds like a good couple to get to know. Just remember the rules about your proprietary research and programs."
"I will."
"Do you need backup?"
"This is just a meet-and-greet. He's only expecting me, so it's better if I go alone."
"OK. If something changes, let me know."
"Will do."
He hung up as he usually did, and I made a few notes in my Day-Timer, then joined Violet and Bianca for lunch. We ate quickly, then went to First Chicago so I could get a safe deposit box. All of us signed the forms and received keys, and I put the spare safe key into the box, as the only item, at least for the moment.
After we returned from the bank, I received a call from New Accounts to let me know that the final Hollywood positions, those belonging to C. Robert Manby, had been transferred. I saw nothing in his current portfolio that needed immediate action, so I returned to my usual afternoon work of FX analysis. The fax from Barney arrived, and after reviewing it, I called Tara to give her the details. Just before 5:00pm, Barney called.
"I managed to get the airline to change your tickets," he said, "which they were willing to do because the flight was sold out for the 26th, but they had empty seats on the 27th."
"I appreciate it. Was there a fee?"
"No, because it'll fill seats that otherwise might have been empty on the 27th. I notified the hotel that you wouldn't arrive until the 27th, and that they were free to use that room the night of the 26th."
"Excellent. Thank you very much."
"You're welcome. You've brought me a nice chunk of business, and I'm going to do my best to take care of you!"
"I appreciate that."
We said 'goodbye', and as it was the end of the day, I locked all my work in my desk, then headed to the condo for dinner and a quiet evening at home.
August 1, 1984, Chicago, Illinois
"OK, that's just weird!" I declared, nodding to Misty, who was sitting like the Sphinx in the middle of the bathroom, staring at Deanna and me as we showered on Wednesday morning.
Deanna laughed, "Misty watching us fuck isn't weird, but watching us shower is?"
"No, I think they're both weird! I mean, I know cats can be strange, but the amount of attention she pays to me is a bit spooky!"
"Be glad she's grey and not black!"
"There is a pussy with black fur in my shower!" I chuckled.
"You like playing with it, that's for sure!"
"And you purr when I do!" I grinned.
Deanna and I finished our shower, and Misty never took her eyes off us while we dried ourselves. There was something fundamentally strange about her, but she didn't cause any trouble, used her litter box, and was generally friendly. She padded into the bedroom behind us, got onto the loveseat, and watched us as we dressed. When Deanna and I went downstairs, she followed us, and while I made breakfast, Deanna put out food for Misty and cleaned her litter box.
About forty minutes later, I was in the office, working on my portion of the daily analyst report. The major news, if you could call it that, was the formal deregulation of banks in Australia, but that had been in the works for some time. The other notable item was overseas trading indicated big moves for the American equity market. In addition, the dollar had risen in overnight trading, but US futures looked weaker, despite the overseas trading.
Just before 8:00am, my phone rang.
"Research; Kane."
"Noel here," he said. "You have permission to hire two data analysts and purchase the new computer. I'll send Mandy Peterson the position reqs."
"I'll get right on both of those things," I said.
"Keep up the good work, Kane."
He hung up, and I went to Bianca's desk to let her know.
"Whoa!" she exclaimed after I told her what Noel Spurgeon had said.
"I thought that wasn't possible," Steve Smith said.
"With Noel Spurgeon, all things are possible!"
Steve laughed, "Noel Spurgeon is our god, with the power of life, death, and pay!"
"No question about that. Bianca, please coördinate with Phil on the computer. Mandy Peterson will have the position reqs later today. If you have any changes to your hiring criteria, get them to her today, please, and let's get moving, because I'm positive we'll be expected to have the new staff on board by noon, as any other result will result in instantaneous losses of millions of dollars!"
Both Steve and Bianca laughed.
"The Suits can be really dumb in that regard," Steve said. "Mr. Spurgeon doesn't seem to be as bad as the others."
"He's not," I confirmed. "He simply expects results."
"I'll get in touch with Phil and our rep at Sun Microsystems later this morning," Bianca said. "And I'll double-check the hiring criteria."
"Thanks."
I returned to my desk and pulled up my organization chart in Lotus 1-2-3, and added the new positions. Bianca's team was now four strong, and unless I was way off base, it would double in size over the next five years. Departmental computers and desktop computers were becoming much, much cheaper, and much, much faster, and that meant we'd have even more capacity, which I was positive would be used by our analysis programs.
The rest of the morning was typical, and at 11:30am, I had lunch with Violet and Bianca, and we went to the gym. When we returned to the office, I reviewed my talking points for my trip to Overland Park, then printed a copy and put it on the credenza with the materials Violet had prepared for me. At 2:30pm, Violet let me know Morris Stoller was calling, and I asked her to put him through.
"Kane," I said.
"Jonathan, it's Morris. I have a possibility, but I need to swear you to absolute secrecy. You can share the details with your budding director friend, but nobody else. Agreed?"
"Agreed."
"I arranged for a full-time internship with John Hughes for a film he's shooting in Chicago and in the back lot at Universal City Studios here in LA. Filming is set to begin on September 24th in Skokie, and after a month or so, move to LA. They expect to wrap mid-December."
"John Hughes directed Sixteen Candles, right?"
"Yes. Let me give you his assistant's contact information. Have your friend call, and they'll arrange for her to fly out to Los Angeles for an interview. As long as she doesn't make a fool of herself, the internship is hers. You'll have to foot the bill for the flight and any expenses in California. The studio can arrange a place for her to stay for the six weeks or so they'll shoot here, but again, you'll have to pay for it."
"No problem. I'll let her know right away."
"Remember, all you can say is she has an internship with a Hollywood director. Nothing about who it is, nor anything about the movie. She won't be able to discuss it with anyone except you or the production team."
"Understood. I owe you basically any favor it's in my power to do."
"I'll remember that! You can count on me asking at some point."
"And it will be my honor to accommodate you in whatever way necessary! Thank you."
He gave me the contact information for John Hughes, and I repeated it back to him. We said goodbye, and I ended the call. I checked my watch and saw it was late enough that CeCi was likely to be home, and given Violet and I were going to a Sox game, and Erin was spending the night, I decided to go up to the condo. I let Violet know I'd be gone for a bit, then made the three-elevator journey to the condo. I found CeCi photographing Misty.
"Oh, sure," I chuckled, "give her even bigger delusions of grandeur!"
"As if that were possible! The Ancient Egyptians told the cats they were gods, and the cats have NOT forgotten!"
"TELL me about it," I chuckled. "She watched Deanna and me have sex last night, then watched us shower this morning!"
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