Judith McNaught - Remember When

Cole flicked a wry glance in the attorney's direction as he slid the proxy forms into his briefcase. "You've been losing sleep over nothing," he said. He swiveled his chair around and began removing files from the credenza behind his desk. "Cal's mind is as sharp as a razor blade."

"Even so," John persevered, addressing Cole's back, "he's in his seventies, and elderly people can be tricked into doing some very peculiar and damaging things. Last year, for example, a group of small shareholders of an Indiana chemical company decided to oppose a merger its board was trying to push through. The shareholders located an elderly woman in California who owned a major block of shares she'd inherited from her husband, then convinced the old lady that the board's action would cause massive layoffs and vastly decrease the value of her shares. They then escorted her back to Indiana, where she personally voted her shares against the merger and got the damned thing blocked. A few weeks later, she wrote a letter to the board claiming she was forced to do what she did!"

Cole locked the credenza, turned back around in his chair, and regarded the worried attorney with unconcealed amusement while he put the files into his briefcase. Calvin Downing was his mother's uncle, and Cole was not only closer to him than he'd ever been to his real father, he also understood him well enough to know that the attorney's fears were ludicrous in Cal's case. "To the best of my knowledge, no one, including me, has ever been able to convince, coerce, or force Calvin to do anything he didn't want to do—or prevent him from doing something he did."

When the attorney continued to look dubious, Cole cited the first example that came to mind. "For five years, I campaigned for him to leave the ranch and move to Dallas, but he wouldn't. I spent the next five years trying to convince him to build a nicer house at the ranch, but he argued that he didn't want a new house and it was a waste of money. By then he was worth at least fifty million dollars, and he was still living in the same two-bedroom, drafty old place he was born in. Finally, two years ago, he decided to take his first—and last—real vacation. While he was gone for six weeks, I hired a contractor who brought in an army of carpenters, and they built him a beautiful place on the west side of the ranch." Cole closed the briefcase and stood up. "Do you know where he lives today?"

John heard the ironic note in Cole's voice and made an accurate guess: "In the same old house?"

"Exactly."

"What does he do out there, all by himself in an old house?"

"He's not entirely alone. He's had the same housekeeper for decades, and he has a few ranch hands to help out on the place. He spends his time either interfering with them or else reading, which has always been his favorite pastime. He's a voracious reader."

That last piece of information didn't fit at all into John's preconceived Yankee notion of an elderly, weathered Texas rancher. "What does he read?"

"He reads everything he can get his hands on that pertains to whatever happens to fascinate him at a particular stage in his life. His 'stages' usually last three or four years, during which he devours dozens of tomes on his current subject. He went through a period where all he read were biographies about war heroes from the beginning of recorded history; then he switched to mythology for a while. After that came psychology, philosophy, history, and finally westerns and murder mysteries." Cole paused to make an entry in his desk calendar before he added, "A year ago, he developed an acute interest in popular magazines, and he's been reading everything from GQ to Playboy to Ladies' Home Journal and Cosmopolitan. He says popular magazines are the truest reflection of the state of a modern society's collective mind."

"Really?" John said, carefully hiding his instinctive unease with the eccentricities and obsessions of a stubborn, elderly millionaire who happened to hold an enormous block of shares in Unified Industries—and who could, if he chose, wreak havoc on Unified's complex corporate structure of subsidiaries, divisions, joint ventures, and limited partnerships. "Has he drawn any conclusions from his reading?"

"Yes." Cole shot him an ironic smile, glanced at his watch, and stood up to leave. "According to Cal, our generation has flagrantly violated the rules of morality, decency, ethics, and personal responsibility, and we are further guilty of breeding a new generation of children who don't even understand those concepts. In short, Cal has surmised from his reading that America is going down the toilet in the same way as ancient Greece and Rome and for the same reasons that caused their decline and collapse when they were world powers. That impossible metaphor, by the way, is Cal's not mine."

John got up and walked toward the office door with him, but Cole paused with his hand on the knob and said, "You're right about the need for Cal to transfer his shares over to me. That's a loose end that I should have tied up years ago, but for a variety of reasons I've postponed it. I'll work it out with Cal when I see him later this week."

"Work it out?" John repeated worriedly. "Is there some sort of problem?"

"No," Cole said, somewhat disingenuously. The truth was that he had no desire to try to explain to a stranger the role that Cal had played in his life, or the gratitude Cole felt for him. or the love. Even if he had wanted to try, Cole knew he could never explain or justify to a corporate attorney that sheer sentimentality alone had prevented Cole from asking his uncle to sign back to Cole the stock Cole had issued to him fourteen years ago.

Back then, Unified Industries had been only a vague, farfetched dream of Cole's, but Cal had listened to his plans. With boundless faith in Cole's ability to turn his grand scheme into a reality, Cal had lent him a half million dollars to get it started —an investment that, at the time, constituted all his profits from the oil and gas leases on his land as well as an additional two hundred thousand dollars he borrowed from a bank. Cole had then approached a Dallas banker for a loan of an additional $750,000, using the future income of Cal's wells as collateral. Armed with more than a million dollars, a quick intellect, and a wealth of inside knowledge he'd obtained merely by listening to Charles Hayward and the other millionaires who gathered at the Haywards' stable, Cole made his first gamble in the high-stakes world of business and finance. He placed his opening bet on one of the riskiest, and potentially most profitable, of all ventures—oil and gas leases.

Having seen one large drilling company try twice and fail on Cal's ranch, he decided to buy an interest in the second and smaller company, the one that had ultimately succeeded. Southfield Exploration was owned and badly managed by Alan South, a cocky thirty-three-year-old third-generation "prospector," as he called himself, who loved nothing more than finding oil and gas where major drilling companies had failed.

The challenge was what drove Alan; the adrenaline of success was what he sought, rather than making and maintaining profits. As a result, he was low on funds and anxious to acquire a partner when Cole approached him with a million dollars to invest. Alan was not nearly so anxious to turn over full financial control of the operation to Cole, but Cole was adamant and Alan had no choice.

Cal had wanted Cole to consider his investment a loan, but Cole's pride made him go one step further. He had insisted that Cal be a full partner, as well as insisting on paying back the loan, and he'd had the documents drawn up by a lawyer. In the three years that followed, Alan made strike after strike—and had fight after fight with Cole, who flatly refused to let him overextend again, no matter how promising various locales looked. At the end of that time, Cole allowed Alan to buy him out for five million dollars, and the two men parted friends.