Chapter 29

There were none, so he moved on.

“I have spoken to Chairman Yeats about a structural survey of all the hangars, and he will arrange for that to be done. It only requires a basic survey to confirm that the structures remain sound, and I think they are. Next, as all the goods stored within the hangars now belong to us, I want the material to be transferred as soon as possible to the hangar we chose as our main warehouse. Do we need storage shelving installed there first, or do we simply lay it out on the floor for the present?”

I offered, “I would suggest laying it out as you suggest, sir, so that as each load arrives from a hangar, we can check which items can be laid with those from other hangars. There may be variants of parts models, for different engine types or aircraft types, and this will allow us to make a preliminary sorting. Once that is done, we can see about shelving units to fit what we have.

Do we transfer shelving from the other warehouses, or purchase new for the new place?”

“I think new would be best, but I was yesterday told about a defunct engineering company where machinery might be bought cheaply. Perhaps the same company also has redundant shelving in good condition? Who wants to look into that?”

Bruce volunteered.

“I can look into that, sir. I may be able to negotiate a good price for the shelving if it is in good enough condition for dismantling and moving. Much depends on the construction of the shelving, but most types are made to be dismantled for re-use. The same discussion might be relevent to any stores still held there, and that might prove satisfactory, if our finances can stand it.”

I intervened, “Mr Davis, in my report you will find I have located a source of finance at a good interest rate, so we will have access to up to a million dollars if we need it. The cash availablity has yet to be agreed, but if Mr Bruce can make a deal with finance guaranteed within a month, I am sure there will be no problem.”

Davis stared at me, and Bruce also raised his eyes in query. I gave in a little. “It is a private investor who is prepared to finance our move. He may want to buy in to the Group at a later stage.”

Davis demanded of me, “How reliable is this investor, Mr Hargreaves?”

“Very reliable, sir, backed by many more millions of assets.”

Bruce asked me breathlessly, “Anyone I know in the finance world?”

“I don’t think so, Mr Bruce. The principal unfortunately did not mention the fund’s name when offering assistance. They may be wishing to remain in the background for the meantime.”

“Huh!” He settled back down, slightly annoyed at not being able to do his own research on the investor.

Bruce asked Mr Davis for permission to start operations at the air base.

“Mr Davis, can I start today in having the goods moved from the hangars to our new warehouse?”

“Go ahead, Mr Bruce, but if you find anything unusual that might be of particular interest, do let me know. You seem to be taking on most of the work, so far, I might observe.”

I intervened, “Sir, I am more of an odd-ball thinker than a do-er. That makes me useful in discovering things that are wrong in some way.”

“Hmm, that is true. You are also an innovator, suggesting new ways of doing what we do. That was Mr Yeats’ thought in sending you to us. Between you and Mr Bruce, it is almost a revolution, but a fortunate revolution. ‘Copies’ will be the better for it, mark my words.”

As we broke up to go our own ways, Mr Davis told me, “I think you should go back to the Group headquarters for this afternoon’s meeting, Mr Hargreaves, in case the board members want more clarification on any questionable assumptions in your report.”

“Yes, of course, sir. I will go as soon as I have had lunch in the canteen.”

Davis put a hand on my arm.

“Jimmy, something puzzles me. Why do you always have your mid-day meal in our staff canteen? You have the social standing now and can also afford to eat out, surely, and get better food and company more to your liking?”

“No doubt, sir, but the canteen staff see me eating here, so they make sure my choices are up to a high standard, in case I might complain about sub-standard catering. The same choices are available to all the staff at the same time. That way, all the staff benefit from my presence, even if they are unaware of it.”

“Oh. Clever. I hadn’t thought of that. Good staff P.R., but as you say, probable improvements in quality of food served to our staff, or at least no drop in standards. Does it make much difference in the end, do you think, Jimmy?”

“If the staff have had a satisfying meal, sir, they are likely to be more contented with their work in the company, and the company probably benefits from that improved morale.”

“I see. You do think constructively, Jimmy. I can see now why Chairman Yeats puts a lot of store in your mental abilities. You don’t just think over what is put to you. You look about more widely, and see what might benefit the company. Yes, Mr. Yeats deserves his position as Group Chairman, for his perspicacity, and you deserve your current position and salary, as does our Mr Bruce.”

“No doubt, sir. I just do what seems correct to me, and that in turn generally comes out well for the company.”

Mr Davis added,”By the way, the staff rumor pipeline, my secretary advises me, has it that you have linked up with a lady at Reception; someone of more mature years and experience, not a teenage nymph. Is this a temporary arrangement, or signs of something more permanent to come?”

“Permanent, sir. We plan a wedding ceremony at our home in a short while.”

“Good for you, young man. I normally frown at in-house romances, but if you are getting hitched to a sensible lady, that is a different matter. Might I send you a wedding present?”

“There is no need of that generosity, sir. It is to be a quiet affair; just family members. There is nothing that we really need for setting up home, so there is no social pressure for gifts. Many normal wedding presents are more a matter of form and show, and we have no desire to impose on anyone, as we are not inviting people to the private ceremony or to any reception.”

“But you would not object if something happened to arrive, unsolicited?”

“No sir. That would be discourteous of me.”

“Fine. We will leave it like that. Will your bride be leaving her post?”

“No, sir. She enjoys working here, you will be pleased to know, and as far as I can tell wishes to continue. She also likes to be able to pop into my office for a kiss and cuddle some days!”

David chuckled.

“Keep such meetings short, Jimmy; that is all I ask.”

When I met Marjory for lunch, I told her what Frank Davis had said, and she grinned.

“So I have his approval to continue ‘visiting’ you after we are married?”

“Yes, but remember that instruction to keep it short.”

She pouted, but took it well.

She asked instead, “You said you had to go back to group HQ today?”

“Yes, as soon as we finish lunch. I am the so-called ‘expert witness’ if they need more information, or clarity on statements I have made. I must remember and take my copy of the report, so I can refer to it if need be.”

I picked up my copy, and soon made that short journey, taking a detour via Daddy Emerson’s office. Knocking, I was instructed to enter, and he looked up in surprise.

“Jimmy! What are you doing here?Nothing to do at Copies?”

“Made a report, sir, and it is going before the group board this afternoon. I am present in case they want more information or have questions for me.”

“I heard there was some sort of spanner in the works. I should have known it was you. What have you done this time?”

“Nothing complicated to begin with, sir. I was looking for a much larger warehouse site, with the idea to amalgamate several old and scattered warehouses into a single more efficient building for Copies to use. An available aircraft hangar was targeted, as it was redundant at the air force base. We went to have a look at it yesterday: me, Chairman Frank Davis and Robert Bruce the finance officer.

It transpired, through Mr Bruce making pertinent observations and asking the right questions, that the whole air base was up for sale, and had been on the market for over ten years with no takers. He upped and offered fifty thousand cash, and it was accepted; for the whole blasted base!

I was shocked, I tell you. I was happy to have us pay that sort of money for the single hangar, and Mr Bruce snaps up the whole base for that amount. Then we discovered what had been obvious to him.

The Air Force were fed up having a redundant base still hanging around their necks, with the high cost of maintenance, security, and insurance, so they wanted rid of it to help their budget!”

“What? Fifty K for a whole base? Are they mad?”

“Think farther, sir: a base that was costing hundreds of thousands a year, just sitting there doing nothing? Getting rid of it at any figure will be a godsend to them, for they will save a packet every year when they drop these costs.

Mr Bruce, for his part, was delighted with the deal, for two reasons; one: we discovered that the hangars have side rooms filled with abandoned parts and equipment that Copies can sell as spares, and two: the hangars we don’t need can be rented out or sold as massive warehouse space or distribution depots. That man has an amazingly practical outlook on finance that I can admire.”

“So what about your report? What has that to do with us?”

“I suggested that perhaps Copies could save in the long run by transferring its whole business to the air base and sell off their existing land and buildings to cover the cost of the move, then I had a brainstorm; a wild thought about the space available and the economies of pulling all the companies together. I changed my proposal to suggesting the whole Group move to the air base site.

Frank Davis liked my whole crazy idea and asked for a full report on the practicalities of the proposal. He must have told Chairman Yeats about it, as Mr Yeats came back to me and demanded a slimmed-down easy-read report to go before the Group Board today. That made it easier to compile, and I delivered the copies to the boardroom this morning. I am here this afternoon to be able to supply further details if required.”

“Damn!” Daddy Emerson exploded. “You never do things by halves, Jimmy. Did you look into the dangerous basics, like financing the move?”

“Yes, sir. Selling off existing land and buildings will help a lot, and sales and rentals at the airfield will bring in cash, so over the next few years our finances will improve somewhat, but there is a temporary shortfall of between half a million and a million dollars; difficulty to quantify exactly, due to many variables involved with the move. I had to explore how to finance that, but then I found a private investor to cover that with a temporary loan.”

He blinked at my final statement.

“You did? How the hell did you manage that? You don’t have any blasted access to major investors that I know of, my boy! A hefty loan like that is a major operation even for finance experts.”

“True enough, sir. The investor approached me with the proposal, not the other way round. We can afford the attractive terms offered, I am sure. The offer promised to undercut the bank’s charges.”

“Jimmy, I hope you are right, for major investors usually like to make a killing. Probably a seat on the Board for starters.”

“That wasn’t mentioned, but she said she was happy to have me keeping an eye on things for her.”

“Her? A woman investor? That is not common; in fact damn unusual.”

“I know, sir, but she has been managing a multimillion fund for ten years or so, so she knows what she is about.”

“If she has been doing that successfully for that long, her head must be screwed on correctly. How did you meet her?”

“I can’t tell you, sir, as it is confidential and I am sworn to secrecy. She is a nice woman and reliable as all getout. In fact, as reliable as my wives are nowadays, and you know what that means!”

“Well, you are the best judge of that, Jimmy. On your head be it. Shouldn’t you report to Chairman Yeats before the meeting, to let him know you are here?”

“Oh, damn, you are right! I’d better go see him now, if he is in the boardroom. Can your secretary confirm that he is there?”

She did that and found he was indeed in the boardroom, so I rushed to join him. He was still going through my report in detail, rereading it in advance of the meeting to be fully prepared. He had the same query for me as Daddy Emerson. I gave him a similar explanation. He smiled in relief.

“That’s good, as I haven’t enough realizable assets to finance the move in a single year. As for the other board members, I doubt if any of them are willing or able at short notice to fork out towards the move; they are a bunch of scared kittens as a rule, where finance is concerned. Risk is anathema to them. If your investor wants, I would be happy to have her on the board. She sounds a canny woman; probably from one of the top families in the country, if I am any judge of it.”

“I couldn’t say, sir. She hasn’t revealed her family background to me beyond saying that her grandfather left her the fund to administer, bypassing her widowed mother, his daughter-in-law, who he clearly did not trust with money. Her father once revealed that grandfather told him he was a fool to marry her, but he had to live with his mistakes.”

Mr Yeats liked this aphorism and chuckled.

“You can come in and be with us for the meeting, Jimmy, but take a chair at the back of the room near the door so you are not obtrusive. You’ll be able to hear everything from there. If I need to, I’ll explain your presence as our technical adviser, and call you if anyone asks awkward questions that I can’t answer from your report. Most should be answerable by me referring to points in your excellent report. That lot never read reports fully, which they really ought to do, to be properly informed. Moneyed idiots, they are.”

“Right sir. When does the meeting start?”

He glanced at his expensive wrist watch. “Twenty-three minutes from now. Be here ten minutes before, with a carafe of coffee and another of hot milk. You can act as waiter as you are hanging around anyway: multitasking, my boy!”

With a grin, I positioned a chair as directed before I hurried off to get the coffee from the canteen. The staff seemed to be aware of the routine for meetings of the board, for they presented me with everything ready on a large tray, complete with a bowl of sugar cubes and a batch of sugar/stirring spoons, plus a small jug of cold milk in case someone wanted their coffee that way. I was impressed at their comprehensive preparedness and said so, getting grateful beaming smiles for the compliment. It looked like compliments were in short supply. That had to change in future. It was not just the Emerson girls that had to learn about respect, it seems.