“Thank you for honoring my invitation to another meeting.” Jack stated charismatically as Lucas Zack, the chief executive officer and lead director of Zack holdings walked into the meeting room that was an extension of his office with his secretary. Zack was a young twenty-five-year-old man, fresh out of business school.
Upon graduation, he took over the management of his family’s business. Zack holdings were one of the fast-rising private firms in san Francisco. Even though they had been in business for over fifteen years, they still weren’t as big as they should be, mainly due to poor management.
“My pleasure” Lucas replied, shaking Jack’s hands firmly. They both sat on opposite sides of the table. Lucas sat with his male secretary by his side while Jack sat alone. His secretary was standing in front of the projector screen.
“I found out that you rejected the partnership.” He stated after Lucas had made himself comfortable in his chair. There were cups of coffee in front of all of them.
“Yes, I wasn’t comfortable with the details of the partnership.” Lucas replied, a little arrogantly, dropping his cup back on the table after he had taken a sip. He stared at Jack as he opened his bag containing the documents and placed them on the table.
“If I may ask, what part of the deal are you not comfortable with?” Jack asked calmly. He wasn’t anxious today. The meeting involved very few people and he was the superior among them. He raised his eyebrow in curiosity as Lucas racked through the different documents in the briefcase before pulling out one and pushing it to him.
“The sharing ratio. Why is my company taking thirty-five percent and yours sixty-five?” Lucas asked and his eyes darkened in anger.
“Everything was explained in that document.” He replied with a little bit of anger, pushing the document back at him. Lucas scoffed looking at him “I demand we share the profit equally or at least a fifty-five, forty-five ratio.” He fired calmly and Jack scoffed. He realized that Lucas was one greedy young man.
“Do you know I’m doing you a favor by doing this partnership?” he asked the arrogant Lucas who scoffed in response.
“Zack holdings, founded more than fifteen years. Has a net worth of a hundred million United States dollars. Ranks fifth on the richest business index in San Francisco and twenty-fifth in California. Last year, two major investors pulled out of the company after the company was unable to meet its fiscal goal for the year. The company is in a little financial situation so they need finances and resources to carry out a major deal” He cited fluidly making Lucas look at him in shock, his secretary cowering in shame beside him.
“How did you know all that?” Lucas stuttered, still in shock from all the information Jack had spilled out. The company was truly going through some financial patches though it was kept as top-level information among the board members of the company. It wasn’t supposed to get to public ears, and therefore not to their competitors.
“I do my research before going into any deal or partnership.” Jack replied icily. He could notice the discomfort Lucas was going through and he scoffed internally. “Such a greedy fellow!”
“So why did you accept the contract if you had no means to execute it?” he asked, staring at him intently as if he was a criminal which he was in this case. “Your client company isn’t aware of the mess you company is in so you get the deal from them and then go behind their back to look for other means to execute it.” He added, displaying disgust. He was highly disgusted by the act.
“My company needed the money so I had to do that.” Lucas answered cowardly.
“So, why did you decide to propose a deal with me?” he asked and when Lucas didn’t reply, he continued. “In case you don’t know, I started my company, JNT five years ago, now I’m the biggest construction company in Los Angeles and Top five richest men in California. What is the difference between your fifteen years old company and my five years old own?” he questioned with a bit of pride in his tone. He had created his company at age twenty-one when he had just graduated from Havard. He had a flair for business management so when he graduated with a first class in the major, he decided to start up his own firm against his father’s will of joining his business though he still managed it too. It was something he was always proud of.
Lucas sat silent, staring at nothing in particular. He was angry at him. Angry that the fact that he had uncovered his incompetence and was rubbing it on his face.
“Here’s a new deal, you come out clean to your client, you accept my 65/35 sharing ratio or I will carry out the project with my resources and you would take the glory for it, but you would give me seven percent share in your company as compensation.” He listed out and all the heads in the room turned to him. He pretended to adjust his tie, ignoring all the gazes that fell on him while staring at Lucas, waiting for a response.
Lucas stared back at him in shock, ever since He had spilled the information about the company, he had been in mild shock and was yet to recover.
They sat for more than two minutes, none of them saying a word. Lucas was weighing the options in his head. It was a difficult choice to make. Coming out clean to the client would put his reputation and that of his company to the mud, giving Jack a free stake in his company was also something he didn’t want to do. It was like giving your enemy the keys to your home.
“I will think about it.” He finally voiced out, eyeing Jack dangerously.
“Better.” Jack exclaimed. “In this case, the meeting is over, when you’ve made your decision, send a mail.” He added, getting up to shake Lucas who ignored his handshake and stormed out angrily, followed by his secretary.
He broke into a little laugh as he fell back on his chair still laughing. His secretary smiled as she watched all the events unfold.
“How did you get all that information?” she asked, her eyes glinting in surprise and amusement. Her boss had just uncovered one of the biggest secrets of Zack holdings. She was very surprised when she heard him state all those information about Zack Holdings.
“Let’s say, hmmm…” he pretended to be in thought before responding. “That is what makes me a good CEO.” She smiled genuinely as she watched him go back to the files.
“Please go downstairs and get me a cup of coffee.” He ordered as she picked up her things to go out of the meeting room.
After his secretary had informed him about the partnership rejection, he had immediately done some research on the company. The percentage ratio he was offering was the best offer, looking at the fact that his company would basically offer seventy percent of the services.
The information he got from the company’s website made him more inquisitive. For a company that was claiming to be that big in finances and resources, why did they need another company’s help so he sent a message to Harry who was one of the investors in the company and he filled him in on the problems that were rocking the company. He had felt sad and wanted to offer help, but when he realized that the boss was a proud and arrogant dude, he decided to be very strict and professional.
Arrogant and unsuccessful people needed to be out in their places.