“You wanted another twenty percent ownership from me in the second year, which would put you up to sixty percent ownership within a year. So, within a year you’d be the majority owner, and have control of the business. And a year after that, another twenty, which would bring you to eighty percent ownership. And I’d have a very small voice in the business, and no control whatsoever, with you as eighty percent owners, and me only having twenty percent.”
He felt guilty listening to her, particularly at the look in her eyes. She looked devastated, but was being painfully gracious about it, and polite. She didn’t blame him for the situation they were in, or anyone but herself. And it wasn’t her fault either. It was a result of the times they lived in, and of the Brookes having established themselves in a dubious neighborhood to begin with, that had gotten worse.
“I could soften the third installment,” Mike said in a low voice, “and make it only fifteen, which would give us seventy-five percent ownership in the end, rather than eighty. I think our investors would be satisfied with that. It’s a very strong position for us, as investors.”
“And a terrible one for me,” she admitted, but with no other options and no choice. The shootout had pushed their situation over the edge.
“Well, you’ve summed it up very succinctly,” Mike said. “And I fully understand why you don’t want it.” He wasn’t sure why she’d invited him to go over it again. They both understood his offer and their respective positions.
“I actually invited you here to tell you that I accept. I really don’t have a choice. We need an influx of money to keep the name and the store alive. It won’t be the same store under different ownership, but I hope you’ll do your best to respect what it was,” she said with quiet dignity, to such a degree that it tore at his heart. She looked so brave and strong as she sat there watching him. He wanted to put his arms around her, but not while they were talking business.
“Don’t forget that part of that deal was a long-term management contract for you to continue running the business as you have until now, so that it does, in fact, remain the same store. We offered you a ten-year contract,” he said, “at a high salary, to protect the brand.”
“I couldn’t do that,” she said quietly. “I’d be willing to stay for the first year, while I still have majority ownership, but once that changes after a year, I wouldn’t want to stay. It would be too painful to watch everything change.” So, she was willing to break her heart and give him her grandfather’s business on a silver platter, but she was not willing to sell herself as a slave, at any price. “I wouldn’t be willing to stay longer than that first year,” she said firmly, “but you’d have the store, and all the information I could provide before I leave. I could use that year to make sure that the transition goes smoothly,” she said with a sad smile.
“You’re the life and soul of that store,” he said passionately. “Without you, it would be meaningless, just a store like any other, with a lot of expensive merchandise. You’re what makes it all work, Spencer.”
“You’d have all my notes and our records to follow. You could easily do it without me. You’d have the template for it. You won’t need me at all.” But he did, in more ways than she realized, and just as much for the store. She was a beguiling creature with a magic touch, like the homeless program she had organized that was working so well. It was a gift from the heart. What she was offering would have no life and no soul without her, but he also understood from what she was saying that she couldn’t be bought. Basically, she was handing over her business to him, and her grandfather’s dream, and planning to jump ship in a year, once she no longer had control. After that, she had no interest in staying. In a way, he didn’t blame her, but the deal was much less appealing without her, if at all.
“I’ll have to think about it,” he said when he stood up. “I’ll let you know.” He was shocked that she had accepted his terms and was willing to give him majority control, on his terms, but she was no longer part of the deal, which took all the magic out of it for him. He was excited to work with her, but not just to oversee a high-end store. And he knew perfectly well that without her, the soul of Brooke’s would be gone. She was the ephemeral secret ingredient that made it all work.
It had been a huge step to be willing to give him eighty percent of the business, and essentially total control, but that was all he would have. Control of something he didn’t want without her. He had overplayed his hand. The master negotiator had failed. She had won. And they both lost in the end.