Chapter 21 - THE OFFER IN THE ELEVATOR
Three banks withdrew their credit lines within twenty-four hours.
Suppliers demanded advance payment. Investors sold their shares. Financial commentators predicted Rowan Meridian would enter bankruptcy before the end of the month.
Victor sent Claire one final offer through his attorneys.
A private investment group would purchase the debt and keep the company operating.
Claire could remain chief executive.
The conditions were hidden on page eighty-seven.
The employee ownership fund would be dissolved.
The community programs would be sold.
The factories would be separated from the profitable technology division and closed within two years.
Claire rejected the proposal.
Several directors did not.
They called another emergency meeting and accused her of sacrificing the company to protect her reputation.
After the meeting, one director entered the elevator with her.
“You could save your position,” he said. “Sign the agreement and adjust the company later.”
“Later never comes for the people losing their jobs now.”
“You cannot run a corporation with emotion.”
Claire pressed the stop button.
The elevator halted between floors.
“This company spent decades calling greed strategy and fear discipline,” she said. “Do not call responsibility emotion.”
She restarted the elevator and stepped out.
That evening, Rosa presented an alternative plan.
Employees were willing to temporarily reduce executive bonuses, delay profit distributions and purchase additional ownership shares.
It would not raise enough money.
But it gave Claire an idea.
She contacted the communities where Rowan Meridian operated: suppliers, local pension funds, small investors and former employees.
Instead of asking one wealthy investor to rescue the company, Claire would ask thousands of people to own it.
Mara studied the proposal.
“No corporation of this size has tried this.”
May you like
Claire looked at the thirty-day deadline.
“Then we have twenty-nine days to become the first.”
