The only thing that cheered Spencer and reassured her that she was on the right path was working one-on-one with the homeless on the nights she did. It touched her deeply every time and added a profound joy, peace, and satisfaction to her life. And she was encouraged when they got Ben’s test results. He had a slight delay in reading ability but the educational psychologist found him to be happy and well-adjusted, so maybe Spencer was doing better than she feared, despite the school counselor’s initial critical appraisal. She had just assumed that Spencer was neglecting her kids, which wasn’t true.
Paul Trask walked into Spencer’s office and sat down on the same day the school counselor had called her, which he didn’t know. But Spencer was already feeling low after the initial call. He reminded her of how much the renovation after the fire had cost them out of pocket, above what was paid by the insurance, what several leaks had cost them for their deductible, and in lost merchandise, how still not having a strong online presence was giving their competitors an advantage. Her homeless program was a noble venture that she was financing with personal money, and it had reduced the severity of the homeless population immediately around the store. But she was trying to empty the ocean with a thimble, according to Paul, and if she wanted the store to have longevity, they would have to move eventually, and they couldn’t afford to do that without money from an investor.
“What are you telling me?” she asked him bluntly.
“That we need a large influx of money to remain competitive in the marketplace. It requires more than we can afford. We need one or several investors, Spencer. We have to face that. We can’t hide from it anymore. And we need them soon.”
“We tried. I talked to Mike Weston. He wants forty percent ownership for starters, and within two years he wants sixty to eighty percent ownership of the store. He wants to move us uptown to a store ten times this size and have branches all over the country that we’d have no control over. There is no way I’m going to let that happen. We might as well burn the place to the ground now. I’m not giving anyone sixty to eighty percent ownership of Brooke’s.”
“Then we need to talk to other investors. Maybe he’s too big. He’s used to dealing with billion-dollar companies and having control.”
“He’s our only option that I know of,” Spencer said, looking straight at Paul. “And he’s not going to bend the rules for us. He’s not that kind of guy. He’s nice, but business is business.”
“Then negotiate with him. See if you can get him down to more reasonable percentages.”
“Within two years of investing, he wants majority control. That’s how they run their investments. And this won’t be a big moneymaker for him. We’re an oddity, kind of a little luxury snack, not a full meal. And he wants to gobble us up.”
“You’ve got to talk to him again, Spencer. We don’t have any other options right now, and I’m worried about the future. The future comes first. It’s tomorrow.”
“Are we in trouble now?” She looked worried too.
“No, but we will be. Sooner than you think. The world doesn’t protect little specialty stores like us anymore. They’ll eat us for lunch. We have to get our online shopping feature up and running in the next few months. It hurts us every day not to have it.”
“I thought you hired someone to do that,” she said, and frowned at him.
“I did. They’re slow. I’m still waiting for their final presentation and the estimate of what it will cost us.”
“Well, tell them to hurry up.”
“Will you talk to Weston again?”
“We don’t even know if he’s still interested. I doubt he is. I was very clear with him when I rejected his offer.”
“He showed up the night of the fire, that says something,” Paul said, clutching at straws. He loved the store too, and wanted to protect it now and in future.
“That means he’s a nice guy, it doesn’t mean he wants to give us millions for the business, and not take control. Why don’t you see if you can find out if he’s still interested? If he is, I’ll talk to him. But I guarantee you it will go nowhere. I’m not giving him sixty to eighty percent, and those are his figures.”
“See if you can get him to forty and keep him there.”
“He’s smarter than that, Paul. And tougher. He has the money and calls the shots.”
“You’re smart too. He invited you to the party at the Met just so he could talk to you. That shows ingenuity and determination.”
“Because he thought he could con me into giving up majority ownership. Now he knows he can’t.”
“I’ll check around, but if he’s not interested, we have to talk to others. And one day we’ll have to move uptown to broaden our customer base. We have to move forward, Spencer, and move with the times.”
“I’m willing. I want to, I’m even willing to consider investors, but I won’t give up majority control.” She was rock solid on that, and it was nonnegotiable.
“I get it,” he said, standing up. “I’ll let you know what I hear about Weston.” She nodded, and Paul left her office, but she didn’t think that anything would have changed, if Mike Weston was even interested. Mike was a smart businessman, and he wouldn’t invest with them unless he could devour them, and Spencer was never going to let that happen. And Mike knew it.
Chapter 11
Paul’s sources reported to him that Mike Weston would still be interested in talking. He loved the store, the quality of their merchandise, the way it was run, and the history. He’d be happy to talk to them anytime. Paul reported it to Spencer a few days after their conversation in her office.
“Give him a call. My source says he’ll talk to you,” Paul urged her.
“I feel like an idiot calling him,” she said. “Nothing’s changed, I still won’t give up majority ownership. I’ll be wasting his time.”
“Talk to him, you never know what can happen with some artful negotiation.”
“I think he has his ideas and I have mine, and we’re too far apart.”
“What have you got to lose?” Paul asked her.
“My credibility, and my dignity,” she said humbly.
“He knows you’re an honest woman. You were straight up with him before. All you can do is try again and if it’s no, it’s no. Maybe you can reason with him.”
“Why don’t you tell your source to have him call me if he’s interested. That’s a little less embarrassing.” Paul left her office with his mission clear. He passed the message along to the person he knew in Mike’s office, and two hours later, Mike called her. The response had been swift, and she was happy to hear from him.
“I hear you want to talk to me,” he said, laughing. “You can call me yourself, you know, whenever you want,” he reminded her. “You have an in with me.”
“Thanks, Mike,” she said gratefully. “How’s Zack doing?”
“He’s doing great. He’s tired of his casts and being stuck at home a lot of the time, but he’s living with me, and I love it. And he seems happy too.” What Mike said confirmed what Spencer had suspected the last time they talked, that he and his wife had split up, but she still felt awkward asking him, and what he had just said sounded pretty clear. “Do you want to have a drink? We don’t have to do this over the phone.” And it was an excuse to see her.
“Sure. I’d love it.”
“The Plaza? Five o’clock today, or six if you prefer.”
“Six would be great.” It meant she would miss putting the boys to bed again. It took time to get uptown, and their conversation would take a while. But this was an important meeting. She’d make it up to the boys when she got home or the next day.
“See you then,” he said, and they both hung up. She was wearing a plain black summer dress and a blazer, and she wished she had worn something more exciting, but maybe it was better to be businesslike with him, for this purpose anyway.
Traffic was heavy and she was ten minutes late when she arrived. He was wearing a suit and tie, sitting at a quiet corner table, and he smiled and stood up as soon as he saw her. She tried not to be impressed by how handsome he was with his thick dark hair and strong blue eyes as she walked across the room to him. He was a striking man and everything about him exuded power in the most distinguished way. He didn’t flaunt it, he wore it well. You could also tell that neither his power nor his success was new. They were part of his persona and his charm.