house.”
“What?” Noah said. “But he bought the house outright when I was a kid.”
“So he did. When times were good. But he’s routinely used it as collateral – it’s waterfront, you know, worth quite a bit. He’s had to raise money several times throughout the years, and he always used the house to guarantee the loan. Maxwell always paid it off, but I guess this time, he didn’t have a chance.”
“Why?” Noah asked, sitting, looking interested. All his life, his father had tried to drum in the lessons of wealth, always belittling Noah’s interest in computers and the Internet as being akin to fool’s gold.
Gary put his hands on the edge of the desk, grasping it as if for strength. “I don’t know why for certain.”
“But could you make a guess?” Noah said.
“Don’t take this the wrong way,” Gary began, “but your father wasn’t quite the financial genius he made himself out to be. Between you and me, even though everything always looked good on paper, ever since Lucas Montgomery died, the Randall Group goes boom and bust. Somehow Maxwell always managed to pull it out of the bust, but I think his time was cut short. I believe he was using the equity from the house to cover some bad investments at the company.”
Noah leaned back. “So there’s no money, you’re telling me. After all those years, my father was, what – basically broke?”
Gary cleared his throat. “Broke is a bit of an overstatement.” Noah looked at him levelly, and the lawyer swallowed. “Okay, so yes, your father was basically broke, personally.”
“Oh, that’s rich. You know what he told me when I left for California to start TechSpace?”
Gary shook his head.
Noah laughed. “Said the Internet was a fad, good for nothing more than playing games and wasting time. Well, he was right about that. Just didn’t know people would pay good money for the chance to do that.”
Noah took a deep breath. “Okay, so if I want to keep the house, I have to pay the bank. Done. But what about the Randall Group? Is it a viable company, or do I need to go fire people?” Noah had done it before, and while he didn’t fear it, it was never a pleasant task.
Gary shook his head. “There’s enough money to keep it going for awhile. You don’t have to do anything just yet. Actually, the Randall Group appears to be on an upswing again. Given some time, everything will probably play out just right.”
“What do you mean?”
Gary Burton looked at Noah, a look that was appraising. “You father made some new hires recently. They seem to be working out well.”
“Like Caitlyn Montgomery?” Noah asked.
Gary nodded. “Yes. She’s a very sharp girl, just like her grandfather. She’s great with people – great at getting people to trust her and invest their money with her. And she seems to have a nose for picking winners. Maxwell was quite pleased with her performance, and she’s only been here a few months.”
“I see.” Noah said.
“Your father also hired Tommy Anderson – a new MBA from the city, he seems pretty good – and Sam Harris, his chief of operations. He’s been around awhile, solid, ready to take on more.”
“So, where does this leave me?” Noah brought himself back to the now.
“Well,” Gary said, and Noah could tell he was phrasing his words carefully, “as I said, the company can run itself. Sam Harris is the natural to take over day-to-day operations. You can be involved if you’d like, but he can run the show. Are you eager to get back to California?”
Noah shook his head in frustration. “I have some time to spare, but, no, I hadn’t planned on running the Randall Group. Not really my thing.”
He hadn’t told anyone but his father about his plans, tentative though they were, to move back East. But it hadn’t been to get involved in the Randall Group, no matter what his father thought. Noah had been a CEO, dealing with the day-to-day headaches that came with managing a bunch