Chapter 4 - The Florida Deal

At 7:45 the following morning, Harold Harper sat on the screened patio of his home in Sarasota, sipping decaf coffee and watching the morning sun reflect off the water of his private pool.
He was seventy-two, had spent forty-five years running diners in Chicago, and had sold out to enjoy what remained of his cartilage.
His cell phone rang with a 312 Chicago area code.
“Harold Harper speaking.”
“Good morning, Mr. Harper. My name is Arthur Davies. I represent Calloway Capital Partners in Chicago.”
Harold lowered his mug. “Calloway? As in Ethan Calloway?”
“That is correct, sir. Mr. Calloway has instructed me to extend a formal, unconditional cash offer for one hundred percent of the equity, trademarks, and operational assets of Harper’s Table LLC.”
Harold let out a dry cough of astonishment. “Is this a prank? Harper’s Table is a two-hundred-seat neighborhood diner. It does decent volume, but why in the world would a private equity titan like Calloway want my greasy spoon?”
“Mr. Calloway has an eye for undervalued community assets,” Arthur answered smoothly. “We have already executed an agreement to acquire the underlying real estate on West Grand Avenue from the Midwest Realty Trust this morning. The property deal closes at noon. We are offering you eight hundred and fifty thousand dollars cash for the business entity. Zero contingencies. Wire transfer to your escrow account within two hours upon digital signature.”
Harold’s jaw went slack. The restaurant was worth four hundred thousand on its best day.
“Eight hundred and fifty?” Harold whispered.
“Yes, sir. On one condition: full, immediate operational control takes effect today at 11:00 AM Central Standard Time. You will notify your general manager, Mr. Gregory Vance, that new management is assuming ownership immediately.”
Harold stood up from his patio chair, his heart thumping. “Hell, for eight hundred and fifty thousand, I’ll tell him myself. Where do I sign?”
Ten minutes later, the documents were signed via secure portal.
Inside the top-floor corner office of the Calloway Tower in the Chicago Loop, Arthur Davies hung up the receiver and turned toward the massive mahogany desk.
Ethan Calloway was standing by the floor-to-ceiling glass, watching the morning fog roll off Lake Michigan. He wore a crisp white shirt with the sleeves rolled twice, his hands resting in his trouser pockets.
“It’s done, Ethan,” Arthur said. “The real estate deeds have been transferred. Harper’s Table LLC is entirely under your subsidiary. Total expenditure: 2.85 million.”
Nolan, sitting on the leather sofa with a tablet, looked up with an arched brow. “Now what, boss? You going to remodel it into a five-star French bistro?”
Ethan turned slowly. His face was unreadable, but a faint, dangerous spark flickered in his eyes.
“No,” Ethan said. “The menu is fine. The food is fine. It’s the human element that needs restructuring.”
He checked his platinum wristwatch.
May you like
“It’s 10:15. Grab your coat, Nolan. Lunch service starts in forty-five minutes.”
***