him, then you can deal with anyone.”
Her optimistic mother would see the silver lining. “As usual, you’re probably right,” Megan said. “I didn’t think about it that way.”
Barbara smiled. “Joe Jacobsen must really think you’re special if he gave you his grandson as a mentor. I think you’ll discover that this works out better than you had ever hoped.”
Megan forked the last bite of cake into her mouth to keep from answering. That remained to be seen.
TWO WEEKS LATER Megan stepped out of her cubicle and one last time attempted to smooth the wrinkles out of her skirt. It was her best suit, but the stubborn wrinkle at midthigh refused to budge.
“Good luck,” Cheryl, the floor receptionist, called as Megan stepped into the elevator that would take her upstairs and to her first executive-level meeting as part of the Jacobsen Stars program.
“Megan, welcome,” Joe Jacobsen greeted her as she stepped off the elevator. “We’re in the large conference room. Just follow Sally.”
And Joe passed Megan off on Sally as he waited for the next person.
Megan made a quick mental note. This was why Jacobsen was one of the best places to work. It was class personified. Knowing each “Star” would probably be nervous, Joe Jacobsen had greeted them personally and then had his secretary show them to their respective seats. His foresight eliminated what could have been many awkward moments.
Sally showed Megan to a seat between Jill Benedict and Alan Dalen, other Jacobsen Stars. Harry was across the table from her. His eyes narrowed as she pulled her chair out. “Harry,” she said as she sat.
“Megan,” he acknowledged before he reengaged the executive sitting to his right. It was the first time she’d seen him since their ill-fated meeting two weeks ago.
“I’m too excited,” Jill confided to Megan.
“I know. It’s a great opportunity,” Megan replied as Joe Jacobsen came to the head of the table.
“Welcome, everyone. I’m excited to announce that this meeting marks the first of many for our new Jacobsen Stars. Today’s session is a think tank on the acquisition of Evie’s Pancake Houses that we are planning. The information is in the folders in front of you.”
Like everyone else, Megan opened the folder and studied the pages as Joe Jacobsen kept talking. “We’ve run into a problem, though.” Everyone turned their heads to look at their boss.
“We never went after this as a merger. Evie’s is a privately held chain of ten restaurants in the New York City market. Most of their value is in the actual real estate of the buildings themselves. Anyway, we now have competition. Odyssey Holdings has come along and proposed a merger. Whereas we would have been refurbishing the restaurants and replacing the Evie’s name, they’ve proposed to keep it. Thoughts?”
Conversation began flying as people began tossing out ideas. Megan half listened but at the same time she started to really study the portfolio in front of her. Evie’s, named for the owner’s wife, was only being sold because the owner wanted to retire and none of his children wanted the business. Whereas Jacobsen Enterprises wasn’t offering any stock, just cash, Odyssey had proposed stock options in its company as well. Odyssey had also proposed to keep all the restaurants open.
“I think we need to offer them more money,” Harry said. “After all, we only want half of the locations and the rest can be sold to recoup some of our initial investment. Several of the restaurants are actually not showing a profit anymore.”
Megan tapped her pen on the binder. She was missing something.
“That idea has merit,” someone else said. “Some of the neighborhoods are not experiencing urban renewal. We should get out while we can before property value drops further.”
Megan watched Harry nod his agreement, a strand of blond hair falling into his face. He pushed it back. “Exactly what we should do,” he said.
“But it’s the wrong thing to do.” The room got quiet and Megan realized she’d spoken her thoughts aloud.
“And just why is that? Do you have a reason to back your thoughts up?” The words, of course, came from Harry.
Megan glared at him. She would not let him get to her. “As a matter of fact, I do.”
She turned and directed her comments to where Joe Jacobsen sat. “Mr. Jacobsen, Evie’s is a chain of restaurants named after the owner’s wife. It’s her legacy. No amount of money is going to sway him. Sure he wants financial freedom for the rest of his life, but not at the expense of his wife. It would have been like Dave Thomas selling Wendy’s and it suddenly being called Sandy’s. You have name recognition. That comforts people. It’s why travelers on highways often go to McDonald’s instead of the truck stop. They know what they’re getting.”
“And how is this important?”
Megan shot Harry another dirty look. Hopefully he’d get the message and keep his mouth closed, although she doubted it. “It would be like Grandpa Joe’s Good Eats suddenly being called something else. Mr. Jacobsen, could you just give up Grandpa Joe’s knowing it was going to be torn down or sold for something else?” She looked back at Joe Jacobsen. He looked thoughtful. “It was your very first business venture, the one that gave you the capital to launch Henrietta’s and Jacobsen. It’s the company cornerstone. Well, could you give it up? Sir?”
Grandpa Joe shook his head. “No, which is why I haven’t even considered the option even though the land value has quadrupled. The restaurant is like a baby. It even predates my children.” He leaned back in his chair, his blue gaze fixating on her as he waited for her reply.
“Exactly. I’m sure neither can Mr.—” she checked the folder “—Althoff. While he wants out, he also has a bond with these neighborhoods. It’s a private company, not public. It has no stockholders but himself and people he chose to sell shares to.”
“But what about the restaurants that are losing money?” Harry asked. “What proposal do you have for them?”
Megan tapped her pen on the folder again. “We need to see why they are losing money. Is it that the neighborhood is in decline? Maybe there is too much competition in the area. Maybe the factory has closed. That’s research we need to do. We may be able to move an Evie’s restaurant down the block a ways and discover that it becomes an overnight sensation in its new home.”
“Can you prove that works?” Harry asked.
“Absolutely,” Megan turned back to Harry. If looks could kill. She pressed on anyway. “Remember when the Chicken Clatch found it wasn’t successful in Eureka’s fast-food row? So the company closed the store and built one five miles west in Pacific. It’s a runaway success. We need to consider these types of things before we up our offer, or decide to kill the Evie’s name.”
Joe Jacobsen signaled his approval by nodding. “Excellent thoughts, Megan. Those are points we need to consider. Keeping ten successful venues, even if we have to move some down the block as Megan says, would be more income to Jacobsen than five. Jill, will you look into those possibilities?”
“Yes, sir,” Jill replied. “I’d be delighted.”
“Good,”
