20 - Leverage
Jimmy paced across his office. He looked at Tony, his associate of development, a made up title. Tony did whatever he needed whenever he needed it. Unlike Baxter who relied on Danielle for everything with an entire company to support their work, Jimmy had a smaller staff and relied on a handful of trustworthy associates. Romy was the newest addition to his team. He needed to hire a lawyer, because his previous lawyer left to move down south for warmer climates. He kept Martin, Walsh, and Blum on retainer, but it was frivolous. If Tom didn't join his team, he would hire a replacement. The problem was Jimmy liked and trusted Tom, even though he was dating Tate.
"Tony, is it ready?"
The younger man nodded. "It looks good."
"Romy, the financials?"
"All printed and in folders. Tony and I made sure the slides lineup. It's a polished presentation."
It had been four months since he found Romy in Paris. At the previous meeting of the Bates Financial Board of Directors, Jimmy had raised concerns about discrepancies in the financial statements. He had volunteered to investigate. The board approved it with only the two Jarrods voting against. Senior was adamant they had staff in-house to handle it. Thankfully Jimmy's reputation won over the other members.
In an hour, he would reveal the results of the work his team had done. He planned to show father and son were both involved.
"How do I look?"
Martha, his executive secretary, picked lint off his shoulder. "You look impeccable like you do every day."
He smiled at the woman who was well past retirement age. She was great at securing a reservation and keeping his schedule. He would keep her employed for as long as she wanted. Maybe he would hire someone as competent as Dani to replace her when she finally retired.
"Okay. I should go. Traffic."
"You'll be early." Martha patted his shoulder.
"Knock it out of the park, boss."
"Let's hope there isn't a tech glitch."
"No way, but I'll be standing by just in case." Tony gave him a thumbs up.
Romy looked green. Jimmy smiled reassuringly. "Don't worry. You are just one of many."
"I know. Tom's coming over to wait with us. We might go for drinks to celebrate."
"Have fun." He held his head high as he left his office suite.
Tate was the only other person who knew he was working on exposing Bates. Maybe she would be with Tom. He hated they were still dating, but Tom was too valuable to hold it against him. Unfortunately, Jimmy had given him a deadline to decide if he wanted to work for him. He needed someone on staff to deal with the sports stores that were bleeding out.
He had been neglecting the Dawsons, but Duncan had called asking for more capital for his company. Jimmy expected Dickie would have a similar request. Once again he thought of Tate.
The ride to Bates Financial took less time than he expected. "I'm early. I might make a call."
He lingered on her face before pressing send. It was a picture Ivy took on the boat. She shared the photos with all of them like a mom.
"Hello. Jimmy. What's wrong?"
"Nothing. I'm going to take down Junior. My team has been working nonstop."
Tate laughed. "I know. I haven't seen Tom in weeks for a date."
Jimmy felt happy about that even if it wasn't his place. "I just wanted to let you know."
"Okay. Thanks. Um, Jimmy. Let me know how it goes. I want all the details about him squirming."
He smiled. "I'll call you." He ended the call. "Okay, O'Hara, I'm ready. Thanks for working tonight for me."
"Yes, Sir." The old chauffeur got out of the car and slowly made his way around. He needed to retire with Martha, but not Charles. He needed his butler.
Jimmy was one of the first to arrive in the boardroom. The next to arrive was Philip Kane. He had been on the Bates board for years. "Did you figure out the financials?" Jimmy nodded. "Am I going to like it?"
"It depends on what side you're on. The balance sheet might get worse."
"I trust you Jimmy."
"I'm glad someone does."
"She thinks we've all forgotten, but I haven't. I know you looked out for my Tate that night."
Jimmy felt like a heel. He cleared his throat. "Thanks." Philip had brought up some old business. It made Jimmy miss his uncle. It thrilled him that his friend's father had a second chance at life, but Uncle Grant didn't. "Others are coming." Focus Jimmy.
It took awhile for all the members to arrive. As greetings and small talk continued, Jimmy plugged the projector cord into his laptop. Junior was the last to enter with a sullen face. Senior was harder to read.
The meeting started, and Jimmy listened to preliminaries. Senior's voice was monotone when he announced the first agenda item. "Sinclair and his theories."
A few members laughed, as he passed out folders. "You'll find in these statements the sums in question highlighted and numbered. I will explain what each one represents. My job is to reveal the facts. Your job will be to interpret them."
He brought up the first amount withdrawn from the company. "As you can see this date. It was a check written for cash in the amount of ten-thousand dollars." He clicked an embedded link. A video popped up. On the screen was a nervous woman. "My name is Maria Suarez. I worked as a secretary for Mr. Jarrod Bates, Junior. One day he had me stay late. Everyone was gone, and he pinned me against the wall and touched me. I tried to push him away and screamed at him. He punched my face. He never raped me. I got away. The next day, when I didn't come to work, an envelope arrived with a courier. If I signed a document stating I wouldn't tell anyone I would get ten-thousand dollars and a job reference. I was scared, so I signed and they handed me a check." Jimmy clicked a picture of the bruises on her face.
"She signed a contract. We need that money back."
"Shut up, Jarrod," Senior demanded.
"And next is..." Jimmy played a video and showed evidence for each amount. After six, he said, "This next one. Ms. Bouchard worked in finance and discovered the withdrawals and brought her concern to Bates Senior's attention. This video is different. He clicked on the link and the ladies' room video appeared.
"It's a trap." Junior shouted.
"The trap is that you followed two women into the women's room at the event to support youth programs."
Philip's voice cut like a knife. "One is my daughter. That young woman sat at my table."
"Shall we continue?" He pressed the triangle to play the video. The foul language caused gasps in a room full of men. Philip smiled as Tate took the scum down. Jimmy felt pride in his chest every time he watched it. Occasionally, he felt it in his pants too, but not in the boardroom.
Philip pounded the table. "I've seen enough even if there are more victims."
Bates Senior stood. "It's a dog and pony show."
Jimmy had recently purchased a pony, and she would be insulted.
"The proof is there. I believe it." Another member said.
Hands went up. "Me too."
"Ironic phrase, gentlemen. Believe me, this was not fun work." Jimmy's goal was to sit back and let the older men hash it out.
"Everyone signed hush agreements."
Philip said, "The agreements are meaningless. Bates can sue them, but he'll expose himself. It's about more than money. They have compromised the reputation of this bank."
John Pownall, a ninety-year-old titan in Boston said, "Bates must step down."
Senior frowned. "Junior. You're fired. Leave."
The titan said, "I meant both Bates. Jarrod, your father and grandfather would be ashamed. There is no way that imbecile boy handled any of that on his own. You were involved in the coverup."
"You can't prove it."
Every eye was on Jimmy. "You signed the checks, and another video will prove you offered the settlement to the employee directly. It was a bit more sensitive."
"How so?"
Jimmy looked at Bates as his whole body deflated. "Jarrod raped her. They paid her to get an abortion."
The old man said, "I motion Bates leaves the meeting."
Another called out. "Second."
"All in favor of Jarrod Bates leaving this meeting." Every hand went up, but one. "Seven to one."
"This isn't fair."
"Certainly not to us shareholders."
Philip sighed. "My wife thinks I should limit my stress, but I'll say it. Shouldn't that video go to the police?"
"I would have to confirm they all agree. We need to protect the victims. They were very brave."
One member said, "I have two daughters. It sickens me."
Philip nodded. "Same."
Old Pownall had moved to the head of the table. "The value of this organization will plummet as soon as word gets out. I propose we buy Bates out and sell it." He looked at Jimmy. "I bet you can find a buyer. Legal action can wait, we have a fiduciary responsibility to the customers of this bank."
"Is any of this legal?"
"If we hold the majority shares."
Jimmy cleared his throat. "Bates has been leveraging off his shares."
"I've heard enough. Let's do the math." Philip demanded.
After the tally was done, Jimmy read the results. "If he defaults, we hold eighty percent. If he doesn't, we're at fifty-five. He already sold me shares outright, losing his majority."
"He's a fool." Jimmy liked the old man. "Sinclair, your grandfather would be proud."
"Thank you, sir."
"Son, I'm proud." Philip shook his hand.
He smiled. "I was proud of Tate. Gentlemen, I suggest we digest this. Meanwhile, I'll put some feelers out and be in touch."
Everyone moved towards the elevator, except Pownall, he went towards the offices. Jimmy followed him. He turned back and nodded.
"Jarrod. The first offense, you fire your son. If not, the first, then the second. You did this to yourself. Do you have the money, you owe Sinclair?"
"What? No."
"Then this makes it easy, those shares are his. You keep twenty percent unless you want to sell them now. I'll buy them if Sinclair doesn't want them."
"He'll own a majority share."
"You can take the proceeds from your twenty percent and go retire to an island."
"My father."
"Will want you to bow out gracefully."
"I need to think about it."
"Either way, the rest of us have the majority."
"What about Juniors?"
Jimmy said, "I bought his shares when he needed money for his bastards two years ago."
"What?"
"I promised to keep it secret."
People leveraged their companies without realizing they were giving it away. The Bates had and soon the Dawsons would too.
He smiled. He promised to call his team and Tate to report on his eventful meeting.
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