The Board Counted Five Votes And Took Gideon's Keys Away
Part 6 · 4 min read ·
The board met in a rented room above a downtown law office. Gideon had wanted to use the plant conference room. The other directors chose a place where he could not summon staff to bring him coffee.
Celia and I waited outside until they asked for us.
On the wall hung a watercolor of the river. I studied the painted ripples instead of the door.
“Are you hoping they fire him?” Celia asked.
“Yes.”
It felt good to give a plain answer.
“I'm also hoping there's still a company when they're done.”
Inside, four directors faced Gideon across the table. He held thirty-eight percent of the shares, but he held only one board seat. The other owners had trusted him to run the place. That trust was now spread across six audit folders.
He said Lea had handled the invoices. He said outside agents had prepared the sale materials. He said everyone had known my mother wanted to help.
One director lifted a delivery receipt.
“You signed for notice that Nayeli inherited this note.”
“I sign for mail.”
The director lifted another page.
“You answered it.”
Celia had kept that letter too. Gideon had asked me to wait until maturity for repayment. He had written the date himself.
“I was trying to keep things friendly,” he said.
“Then why did you certify that it was paid?”
He looked at me.
“She understands what family means.”
“My mother understood interest,” I said. “She also understood signatures.”
I gave my account of the held rings. Then the directors asked us to wait outside again.
Twenty minutes later, the board lawyer opened the door.
Four votes had removed Gideon as chief executive. His access to company accounts was revoked. Lea was placed on leave while her conduct was reviewed. The company would send the evidence to law enforcement and pursue recovery of the diverted money.
Gideon still owned shares. Removal did not turn him poor. It did mean he could no longer write checks with other people's names on them.
The sale nearly died anyway.
Aster Reach had offered $4.6 million before the audit. Now it offered $3.55 million, with money held back for claims. The bad inventory, customer credits, and cost of fixing records had changed the price.
The bank was owed $1.42 million. Its loan covered receivables and inventory. Its own documents excluded our furnace and named my mother's earlier lien.
“They had it in their file all along,” I said.
Priya nodded.
“Mr. Voss appears to have counted on people reading separate files.”
The directors asked if I would discount the note to help save the sale.
I thought of Mom checking her small rental house after tenants left, patching nail holes herself to save money. That money had not grown in an old woman's purse.
“I'll waive interest after July first if the closing pays the full $211,600,” I said. “That offer expires September seventeenth.”
Celia put it in writing. It was a limited offer, not a new promise to wait forever.
The directors accepted it.
Then Aster Reach asked to meet without the sellers present.
Their operations head offered me a job at $112,000 a year, with authority to hold product and a direct report to the quality director at headquarters. A failed test could not be changed to a pass by a sales officer.
“I want that in the job letter,” I said.
“Priya warned us you would.”
Priya looked over her glasses.
“An exacting habit. Apparently contagious.”
I read the whole letter. Then I signed it, subject to the sale closing.
“There's one other letter I need,” I said.
I asked the old company to correct my personnel file. I had been dismissed by Gideon, not resigned. There had been no finding of poor work or misuse of records. The board lawyer agreed to a signed correction and a copy for me.
Outside, Della waited with her coat folded over one arm.
“I should have questioned those entries sooner,” she said.
“You questioned them while they could still be checked.”
She nodded, but she did not look relieved yet. I understood that too. Neither of us had reached the end of our folders.
The board also approved an $18,000 settlement of my claims over the dismissal and use of my name. The false vendor records would be corrected. Della confirmed that no tax form had been filed under my name for those payments. Her audit note would stay in the permanent record.
I could finally picture returning to work without having to explain myself at every desk.
That night, I moved my cream tile an inch along the windowsill. Its fine cracks still caught the light. Getting paid would not mend them. I liked it better that way.
At nine, Celia forwarded a new closing draft.
The sellers' lawyer had added one paragraph: I would withdraw all prior reports about the furnace as a condition of payment.