Dad leaned toward me. “You don’t understand what it takes to protect a legacy.”
“I warned you before the first expansion.”
“You were nineteen.”
“I was correct.”
For the next hour, our independent committee presented a rescue plan. Calder Ridge would provide the forty million dollars, settle the predatory debt and protect every nonexecutive employee from dismissal for at least two years.
In exchange, Dad and Brooke would resign from management. Calder Ridge would receive a controlling interest, while twenty percent of the company would be placed into an employee ownership trust.
Dad rejected the conditions before the presentation ended. He said no outsider would take control of the business he had built with his own hands.
“Without this agreement, your lender can begin liquidation in ninety days,” Eleanor Price reminded him from the other end of the table. “Your equipment, contracts and headquarters may all be sold separately.”
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