by David Hockey
Chapter 40 Lori and Craig
Bob was sitting at his desk when Lori walked in first thing on Wednesday morning. She said ‘Hello’ then asked if she could talk to him and Ken as soon as everyone had started work.
“You have some news? Have you found anyone?”
“Possibly, but can I wait until Ken comes in before I tell you?”
“Sure. Is Craig in the shop? He’ll look after everything.”
“Yes, he’ll probably be in the storage room. We’ve doubled the wood order and he’s not sure it’ll all fit in the racks. We expect it to be delivered this morning.”
“I think that was Ken who just arrived, it sounded like him going into the shop. I’ll fetch him.”
“No, I’ll go,” said Lori. “I want to have a word with Craig too.”
Two minutes later she returned with Ken and Craig. She asked Ken to sit down and once he was seated said, “Craig and I want to buy the workshop. We had a big conference with my parents and uncles last night and everyone agreed to lend us the money. Not all of it but perhaps enough to suit you. We’ve put our offer on paper and everyone has signed it.”
“Wow!” exclaimed Bob, “you’ve come up with half-a-million pounds?”
“No, not exactly. My dad and his brothers will mortgage their houses and use some of their savings. We think we’ll have at least three hundred thousand pounds. We may have more because they’ve only estimated how much they could get on a mortgage and they’ve done that conservatively. What we would like to do is to buy the company, using the money we can get from my family, then pay the rest in instalments. We’d pay it off as quickly as we could of course.”
“Let me see if I understand this Lori,” said Bob. “Let’s say you give us quarter of a million pounds. You would then owe another quarter million. Would you pay interest on that?”
“Yes, of course, and we’d pay ten percent on what we owe. We’ve written that in the offer.”
“You’d pay us from the money you receive from the sales?”
“Only from the sales after the date we bought it. The money from We-Have-It that comes before the date of sale would go to you. But we would own all the stock that’s in the stock rooms here at the date of sale. That’s what you said yesterday.”
“Right, we said that. And who gets paid first, us or your relatives?”
“You. You’d be paid first. They said they can carry their mortgages. It’ll be hard for two of them but I’m sure we can pay them back within a year.”
“What do you think about this Ken? I like it very much.”
“I like it too. It’s almost too good! You know how to run the shop, Craig, and you know how the company operates, Lori. And you’d probably keep employing everyone. Yes. I’d like the idea. Let us read what you’ve written to be sure we understand what you’re offering.”
“We’d want our lawyer look at it too,” added Bob. “Do you have a lawyer?”
“Yes, my Dad’s lawyer would represent us I’m sure.”
“You know you might be buying a company that could collapse in a year or so?”
“We’ve talked a lot about that,” said Craig. “We plan to make other toys as soon as we’ve settled down.”
“And other wooden items as well, under a different trade name,” added Lori. “Things like condiment holders for kitchens or nameplates for gardens and houses. But we wouldn’t do that until next Spring.”
“Well you’ve certainly thought about things,” said Bob. “You’ll do very well I bet. Let me see the offer.”
“I’ve two copies, one for each of you. I’ve an extra one for your lawyer if you decide to go ahead. Craig and I’ll go to the shop and work there until you’ve discussed this. Let’s go Craig.” Lori stood up and they both left the office.
Five minutes later Bob said, “It looks okay to me. How about you?”
“Yes, it’s just as Lori said. Then we accept it?”
“Yes. Unless Arthur finds something wrong,” said Bob.
“Let’s take it to him. I’ll call and see if he has time to see us today.”
“Mr. Glane has no appointments between eleven and two” Jennifer told Ken when he called. “Do you want to see him during those hours?”
“Yes. Let’s make it at eleven. Thanks.”
Ken went to the shop and told Craig and Lori that they liked what was written and that he and Bob would take it to their lawyer that morning. “We’ll leave immediately and be back after lunch. You’re in charge until then. You might as well get used to it!”
On their way to Southampton Ken and Bob discussed some of the details that we not included in the offer.
“What date should we sell Bob?”
“I’d leave it as late as possible. Might as well get the income from the toys we’ve made as long as possible. How about making it November 1st?”
“That’s okay with me but we’re planning to leave for Manchester before then if we’ve found a place to live. I’ve agreed to start work the first week of November.”
“That’s no problem. You can leave as soon as you like. Craig and I can run the shop. In fact I’d let Craig run it and just turn up as a consultant. That’ll be fun!”
“He’ll want you to design new toys for him if you were a consultant.”
“I wouldn’t mind doing that if he asked.”
“Should we put that into the contract, that you’d be a consultant for a year or two, paid at such-and-such a rate?”
“No thanks. No, I don’t want to do that nor do I want to tie them down in any way.”
“Bob, about my house. I’ve talked to a couple of real estate agents. They’re willing to sell it for me but they think I should lower the price if I want to sell it this time of the year. They both thought it would likely get around a hundred and seventy five hundred in the Spring but doubted if it would get that now. When I told Mary that she said I should offer it to you. She said that you liked it when you saw it. What do you think? Are you interested in buying it?”
“It’s a lovely place Ken but it’s too big for one person I think.”
“Yes, but you might live there with Maria sometime. Look, think about it. I haven’t listed it yet. Let me know before Monday. And I’ll drop the price by ten thousand to sell it right now. I’d take a mortgage from you ‘cos I know you and that you’ll be getting lots from the company over the next two months, money from the toys we’ve already sold.”
“It’s an thought. I do like the house. As a matter of fact, I’ve been planning to renovate my house this winter. I’ll think about it and let you know Monday.”
“Good.”
“So you’ve found a buyer,” said Arthur. “That’s wonderful. I was tempted to buy it when you told me about how much it generates but I couldn’t run the company, I was also afraid that the market for wooden toys might collapse. That was what my contacts also thought when I told them it was for sale. They didn’t want to take the risk even though the profits were amounts people dream of. You know, you’ve done very well. And all within six months!”
“We’ve been very lucky, both in the number of toys we’re been selling and in finding a couple of employees who can run the workshop and manage the company. They can raise enough to give us half as a deposit and we’re willing to loan them the rest. Here’s what they propose. As far as we can see it looks okay. We want to know what you think of it.”
“I’ll take a quick look now but I’ll want longer to think through each clause. I can do that after you’ve left if no one needs to see me. I’ll call you tonight to tell you if there’s anything you should change. Let me read it now. Hum, I don’t see a date-of-sale. When do you want to sell?”
“November 1st is good for us Arthur,” said Ken. “It’s a Friday. However, we usually get an order from We-Have-It on Fridays so we want to sell the company after we’ve received that order. That way the money from that sale comes to us.”
“That would be a bit awkward to arrange. I’d suggest a way
around that. Why not call the wholesaler on Thursday, October 31st and get the order then. That way you’d get the order and the money. That way the company can sell on November 1st with no complications. It would be simpler and better I think.”
“Yes. We could do that. I’ll tell him we want to do that the week before we sell.”
“You should have your auditor check the books a week or two before the sale to be sure there’s no inconsistencies.”
“Yes, you’re right. Lori would want that too although she’s the one who has been keeping them. Doing that would also help us deal with Inland Revenue too.”
“Okay. Leave this copy with me and I’ll call you tonight Ken. Will you call Bob or should I?”
“Come to supper tonight Bob,” said Ken, “and we’ll hear what you have to say together. I’ve got a speakerphone. And you’ll be able to look over the rest of the house at the same time. Can you do that?”
“Yes, sure, Ken. Thanks. Mary won’t mind?”
“No, I’ll call her from here if I can. Arthur?”
“Sure. As soon as we’re finished.”
“What time can you call us?’ Ken asked. “Would eight o’clock be okay?”
“Yes, that’d be fine.”
There was lots to talk about over lunch and on the drive back to the shop. “Mary says we’ll have to have chops from the freezer because that’s all there is. She’s glad you’re coming Bob, because she knows you like the house and thinks you should be the one to buy it.”
Once back at the workshop they asked Lori and Craig to come to the office and they told them that they would sell the company to them if their lawyer didn’t find anything wrong with the offer. They also explained what they had decided about the sale date and that the income from the last week’s order would go to them. Lori and Craig thought that was fair and agreed.
“Our lawyer will call us tonight to let us know if there’s anything else we should discuss with you or change before signing. All he’ll do, I imagine, is turn your proposal into a legal contract,” said Bob. “He’ll need the name of your lawyer sometime, too.”
“And we’ll have to have the books audited by our accountant before the sale too,” said Ken.
“Yes. We had thought of that and were going to ask you to have it done if you didn’t suggest it. That way I know I’m in the clear and that my records are correct,” said Lori.
“Well, we’ll tell you what he says tomorrow. Don’t say anything to anyone here until everything’s totally settled, please.”
“No, of course not,” said Lori. “You know, I’m so happy about this. Thank you!”
“We’re very lucky people,” said Craig.
“Well don’t celebrate until you know what our lawyer says.”
“Do you think I should tell my Dad and uncles about it when we get home?”
“I’d suggest you just say we’re thinking very positively about it,” said Bob. “It’s better not to tell them you’ve bought it until everyone’s signed the contract.”
“All right. But I can’t help smiling!”
“Me too,” said Craig.
“Oh, another cheque arrived this morning,” said Lori. “It’s the July 29th one, £18,750. It’s in the safe.”
“Good. Then I’ll write a cheque for your £15,000 Ken,” said Bob. “Do you mind if I post-date it to next week to let this one clear. How about making it next Friday?”
“That’s fine.”
The only shop that sold flowers in Small End was the newsagent. It never carried many but Bob found three bunches which, when combined, would make an attractive group. He bought them and had them gift-wrapped. Once home he carefully unwrapped them, selected the best for Mary and rearranged them with some wooden stems from his garden and put them in a bucket filled with water. The rest he put in Betty’s best vase and placed it in the living room. ‘The last time I’ve had flowers in this room must have been ones from Betty’s funeral,’ he thought.
Ken had asked him to come at six-thirty so Bob had a bath and dressed in a white shirt, his best grey trousers and a pullover. He sat in his lounge and thought through the day’s happenings. He was very glad that Lori and Craig would be buying the company. It solved so many of the problems that had been bothering him. He hoped that nothing would go wrong with their financing and that Lori’s father and her uncles could get their mortgages. He began thinking about Ken’s suggestion that he should buy their house. It was such a nice place, a house he could never have afforded in the past. It was exciting to think about it but it was scary too; it was too big a house for one person and, although he might be able to buy it, it would cost much more to run than his present home. He’d have to ask Ken what the taxes were, how much it cost to heat, their water and sewage costs, all that kind of thing. He’d have money coming in as Lori and Craig paid the rest of what they owed but would it be enough to cover what he’d have to pay Ken? Would there be enough to run it and also pay for his holidays? Holidays came first, not the house. Or did they? Then it struck him; if he bought Ken’s house he could sell his house. Maybe he’d have plenty and could buy the house and have holidays. He looked at the clock and realised he was going to be late so he grabbed the flowers from the bucket, wrapped them in the gift paper, put the wet bottom in a plastic bag and ran to the car.
Ken opened the door when he arrived. “Hello, Bob. I was beginning to think you had forgotten about supper. Did you fall asleep?”
“No. I was wondering if I could afford to buy your house. We must talk about what it costs you each year. These are for Mary. Can I give them to her?”
“Sure, she’s in the kitchen. Come to the study after seeing her, I’ll be there.”
“Thank you Bob,” said Mary. “These are nice. Can you put them in the sink for now, I’ll put them in a vase when I’ve finished here.”
“You don’t mind showing me the rest of the house later? I could come back if you wanted more time to prepare.”
“No, now would be fine. We’ll do it after supper, no, after Arthur’s call. You’d better join Ken now, he likes to have a drink with his guests before supper. I can’t join you yet for I’ve still things to do.”
It was scotch and water again for Bob when he joined Ken. This time the fire was lit and they sat looking at it while taking their first sips. Bob felt so comfortable and relaxed. If anything was going to persuade him to buy the house this was it. To have a study with a fireplace like this!
“Ken I’d love to buy the house but I don’t know if I can afford to run it. I need to know how much you pay for heating, water , taxes and so on.”
“I guessed you’d be asking about that and you should take this. I prepared it for the real estate agents. All the expenses are listed though they’re last year’s, of course. This year they should be about the same.”
“Oh! You pay about three times what I pay in taxes. And your heating is nearly four times mine. Not much difference for water and sewage. All that would have to come from money I’d get from the company, or from the sale of my house, my pension wouldn’t carry it.”
“I’m sure you’ll have enough, Bob, and still have plenty left over for holidays. Holidays—that’s what this year’s really been about, hasn’t it?”
“Yes, being able to have a nice holiday each year. But to have a house like this and holidays too, I can’t believe it’s possible.”
“It’s been a good year for me too, helping to set up a company, solving interesting puzzles and then being offered a job near James’ home. And having fun all the time too. We’ve enjoyed ourselves, haven’t we?”
“Yes, I guess so. Most of the time. It’s been exciting but worrying too. Just like the thought of buying this house, that’s exciting and worrying.”
“Maybe that’s your nature Bob. Try to forget the worrying part and enjoy the exciting part. That’s what I try to do. Ah, that’s Mary’s calling; it’s time for supper.”
Squash soup, with a touch of garlic and garam masala; lamb ch
ops, with cauliflower, green beans, roast potatoes and mint sauce, and ice cream with a caramel covering, together with two glasses of wine made Bob full and happy.
“That was wonderful Mary. Thank you. With a meal like that I can’t see myself refusing to buy this house! I very much enjoyed it.”
“I’m glad Bob. I’ll show you the upstairs after Arthur’s call. We’d better go into the study now to hear it. Can you make the coffee Ken?”
“Of course.”
They sat by the fire until Arthur’s call came then moved nearer Ken’s desk to hear what he said. “There’s nothing I can see to worry about. Provided they can find the down payment. All you have to do is sign the sale agreement. It’ll be ready to sign by ten. When do you want to come in?”
“I’d have to check with Lori and Craig about that. I’ll call you tomorrow and set a time. All right?”
“Yes, that will be fine.”
“Then, thanks, Arthur.”
Ken went to a cupboard door and pulled out a bottle of cognac. “Let’s have some of this with our coffee. To celebrate. Some for you Mary?”
Bob was already a little woozy from the scotch and wine but he accepted and they sat for a while, each thinking about the future while enjoying the fire that Ken brightened by adding another log. Then Mary told Bob she’d show him the upstairs part of the house.
“There are four bedrooms and an extra room that we use for storage,” she said as they climbed the stairs. “All the doors are open. Go into any of them.” Bob looked in each but didn’t need to more than stand at the door and look. They were good-sized rooms, nicely furnished with pretty curtains.
“There’s one bathroom here,” and Mary opened the door. Bob walked in and saw that it had a big bath and a large storage cabinet.
“And the master bedroom’s en suite. I’ll show you that now.”
It was the en suite that decided Bob; he’d buy the house. To have his own bathroom, with a bath and a separate shower. It would be like living in a luxury hotel.
“It’s lovely Mary. I love the whole place, the upstairs, downstairs, the garden and the river. You must be very sad to be leaving here.”
“I am a bit. We’ve put a lot into it. The garden, of course, but also the rooms, decorating them and buying suitable furniture. You know, if you buy it, you can have the curtains. They were made for these rooms and I don’t suppose they’d fit another house.”
“Then that decides it. I’ll buy it.” Bob said.
“Ken, did you hear that? Bob said he must buy the place!”
“You did? Wonderful. You’ve worked out that you can afford it?”
“No, but everything is so nice. I love the place. And Mary says the curtains are included.”
“Didn’t know curtains made such a difference,” Ken said, smiling as he climbed the stairs.
“Well, it’s not really them, it’s the whole place. I’d love to live here.”
“Then let’s have another drink to celebrate that!”
“No. I daren’t. I’ve got to drive home.”
“You can stay here if you like,” said Mary.
“That would be nice but I’d rather go home. You know, I’d like to save sleeping here until I’d bought it.”
He drove home very carefully, parked the car, undressed and was falling asleep when he realised he’d left the paper with the cost of running the house in Ken’s study. ‘I’m sure he’ll bring it in tomorrow,’ was his last thought.
Lori and Craig were sitting in the office and they jumped up immediately when Bob walked in the room Thursday morning.
“We caught an early bus. Couldn’t wait any longer. What did the lawyer say? Will you sell to us?” asked Lori.
“Wow, yes,” said Bob, “yes, we will.”
“Oh! That’s marvellous. Can I give you a hug?”
“Sure.” They hugged then Bob shook hands with Craig.
“Oh, so you’ve told them!” said Ken, as he walked in and saw everybody smiling. “Hi Lori, Craig. Yes, we’ll sell the company to you. Did I see you giving Bob a hug, Lori? Are you going to give me one too?”
“Yes,” and Lori ran to him and gave him a big hug. Ken and Craig then shook hands.
“Now it’s not legal until we sign the contract,” said Bob, “so we shouldn’t say anything to the others until that’s done.”
“I’ve thought about when we should do that,” said Ken. “Tomorrow’s our reward lunch and half day. I’ve two suggestions. The first is, we could book one of the rooms at The Windlass Tree in Warmly. We could go there, tell everybody what we had decided, then go to the lawyers and sign the contract afterwards. And it would also be the treat we talked about having at Christmas because we won’t be here for that.”
“That would work, “said Bob, “if they have room for us.”
“Well we can phone and ask. And the other idea is to tell everybody today and turn tomorrow into a holiday. We could go to the lawyer anytime on Friday then.”
“They’d like the idea of a holiday but wouldn’t like not having a lunch,” said Craig.
“That’s what I guessed. How about giving everybody a cheque for twenty five pounds instead of having a lunch this time.”
“Oh, I’m pretty sure they’d like that the best!” said Lori.
“Then let’s do that,” Bob said. “We’ll tell everybody about the sale during the tea break. Is that okay with you Lori, Craig?”
“Oh yes. I’d like everybody to know as soon as possible, although it’ll be strange getting used to the idea!”
“Then I’ll call Arthur and ask him if we can meet tomorrow at nine to sign the contract. We’ll have to do it early because Dave might want more sets. Can you catch an earlier bus and be here at eight? I’ll drive us to Southampton.
“Yes, we can do that,” said Lori. “I must phone Dad. I told him I’d call as soon as I knew what you had decided.”
“Sure, call him as soon as I’ve talked to Arthur.”
Everyone was surprised with the news. No one had thought that Lori and Craig would want or be able to buy the company.
“It’s not really us buying it,” explained Lori. “My Dad and my uncles are putting up the money. Craig and I will be the formal owners but they’ll have shares in it.”
“What are you going to do when the company is sold Bob?” asked Diane.
“I’m going to retire again. Like I did four years ago, and have some holidays. I’m going to live in Ken’s house too, for I’m buying it.”
“That’ll be very nice,” Diane said. “It’s a lovely home.”
“And you can fish in the river there,” added Craig. “Let me know if you want some tackle or want to know what baits to use.”
“I will Craig.”
“To celebrate everything we’re going to change what we do this end of the month,” said Ken. “We’re making tomorrow a full-day holiday and, because we won’t have a celebratory lunch we’re giving everybody a cheque for twenty five pounds. You can have an extra good lunch with that, if you like. We’ll have our Christmas celebratory lunch at the end of October because Craig and Lori will own the company from the first of November and because we won’t be here at Christmas.”
“Would you come if we invited you?” asked Lori.
“Oh yes, I would,” said Ken.
“I would too, but I might not be here over Christmas. I might be in Paris.”
“With Maria?” asked Diane.
“You know about her?”
“Yes. We all do. Will you be there with her?”
“If I go, yes, I will.”
“Then we forgive you if you don’t come.”
There were lots to talk about as everyone went back to work. Most of it was about what they would do on Friday and how they would spend the extra money, but Jean said how nice it’d be that Craig and Lori would be running things.
Bob thought about telling Joe about the sale as he walked home that evening but decided to wait until the contract was signed
just in case something went wrong.
There was a letter from Maria on the door mat. She wrote about Paris, saying she had done some research. ‘The agency can get a good price at the Hôtel de Ville between Christmas and New Year’s Eve. It is a central hotel and there are many places we could walk to from there. And it is near the bus and metro so we could easily explore the whole city. Have you decided what to do? Have you talked to the children about this?’ She ended by saying ‘I hope you say yes. Please tell me what you decide in your next letter so I can book the room. With much love, Maria.’
He couldn’t decide what to do about Christmas without first talking to Regina and Sam. ‘I’ll tell them everything on Sunday, about selling the company and then discuss Christmas. He’d have to tell them about Maria when he explained the reason for the holiday, but it was time they knew he had a lady friend. He hoped they wouldn’t mind.