Frame-Up (39 page)

The shock hits me unprepared. So that explains the courtesy of the
staff. They must have heard that I will be offered this position and don’t
want to be on the wrong foot with their new boss.

"I see you are surprised —"

"Surprised is hardly the word for it, sir. Overwhelmed fits better."

"Miss Walker, I have not taken this decision lightly. I have checked
and consulted widely. I realize that you may not have the years of
experience that are usually a prerequisite for such a position, but it is
clear that you are quick, highly intelligent, and from what I hear, able to
assess when you need help and advice and not afraid to ask for it, nor it
seems does success make you overconfident or go to your head. So I’m
confident that if you need help, you will consult with the appropriate
person at head office. When do you expect that you will be able to take
up your new position?"

What an undreamed of opportunity! Manager of the London branch,
getting my share of the commissions on all transactions executed by all
stockbrokers, not just my own! I must admit that for a moment I’m
tempted to accept, and then sanity returns.

"Mr. Levy, I feel greatly honored by the trust and belief in me
conveyed by this unique offer, but I don’t think that I should accept for
a number of reasons. I would go from stockbroker to manager, jumping
ahead of two loyal senior members of the London branch with many more
years of experience. It would cause bad blood —"

"I’ve considered that aspect carefully. I even spoke to Bob Kent and
Lucas Waszinsky. The latter is close to retirement. He told me he is not
interested in the position and fully supports your choice. Bob Kent was
rather taken aback, but I don’t think because of being bypassed — Fred
Garland was also appointed ahead of him — but by your young age.
However, on further probing he could not raise a single objection as to
your suitability."

"Again, I feel honored by their trust in me. However, the second
reason why I think it would be a mistake to make me manager is the
resentment that this would create among the junior staff of which I was
part just three weeks ago —"

"The ones that have shown a lot of negativity toward you?"

"Yes. You know yourself that a manager has to rely on the willing
support and commitment of the staff —"

"As manager you have the authority to fire any staff member who fails
to give you that support."

"Firing a staff member is not something to be taken lightly. It may
have serious effects on staff morale. The mistaken perception is that
authority over subordinates is vested in the position of a superior, but in
reality it is the subordinates who grant authority to the superior, and there
are many subtle ways of withholding that other than straight
disobedience. I’m afraid that some of the eight junior staff with whom I
shared the trading room would find ways to make life difficult for me.
Their acts would not be of a nature that would warrant sacking them. This
would just be a constant irritant that would divert my energy away from
where it should be, namely managing the branch successfully and making
it grow."

"What you tell me convinces me even more that you are the right
person. I would have been surprised, to be quite frank, if you had jumped
at the offer, but the fact that you reflect on it so carefully and perceptively
reinforces my wish that you accept."

"Thank you, sir, you’re kind. There is one further reason and it is from
my point of view the most important one. I was very enthusiastic when
I accepted the job as stockbroker. I found it a challenge that I wanted to
conquer —"

"And you did admiringly well."

"However, if I may speak frankly, as time went on, the hothouse
pressure atmosphere of the business with its aggressive culture of
gamesmanship made me reflect on whether I wanted to be part of this in
the long run. I also became somewhat disillusioned that our activity does
not add any productive value to wealth. Most trading is to help
speculators play the market. I have no objection to people playing
lucrative games, but I don’t necessarily wish to be one who facilitates
that. Furthermore, I’ve also come to realize that the intrinsic value of a
firm does not change by a change in the value of its shares. Although in
theory, stock exchanges may be efficient vehicles to produce a global
market equilibrium of all shares, in practice they don’t even get close to
that. The short-run behavior of stock prices is irrational, feeding on
rumors, neuroses of the masses, and speculators fleecing naive investors.
Given my disillusionment with stock trading, accepting your offer would
be unfair to Lewis."

"I’m regret you see it that way. I’ve always seen our role as essential
for the smooth functioning of the market. But I realize that it takes a
special person to cope with the constant stress of the stock market."

Should I point out that I cope well with the pressure and stress of the
job? That in fact I thrive and do best when under pressure, that my
disenchantment with the profession and its environment is of a
substantive nature, but decide not to bother. He is unlikely to hear it,
seeing it as excuses for not being capable to cope under such pressure.

"Won’t you reconsider your position?" he continues, seemingly
baffled. My rejection of what he sees as a fabulous and unique offer takes
him as much by surprise as the offer took me. "I would be willing to offer
you a senior position if you don’t feel ready at this stage in your career to
take on the role of branch manager."

"Thank you, sir, but the Sanvino affair has made me realize that I do
no longer enjoy working in this profession. So I shall not return to Lewis
Stockbrokers."

The smile that has hovered on his face for most of the discussion
vanishes for good. "Is this really your last word, Miss Walker?"

"Yes, Mr. Levy, it is."

"I cannot express how disappointed I am. I really had been looking
forward to working with you, but I also appreciate your frankness and
since you have been so frank with me, what is your opinion about
appointing Bob Kent to the managing position?"

"I guess he would do an adequate job and be fair to the employees, but
he lacks vision and drive. Bringing in new blood from outside would
seem a better option. A new person won’t be burdened by the current
culture of the branch."

"Which I perceive you think is not healthy. There you see that my
assessment of your managing potential is spot on. I’m really sorry that
you are not willing to reconsider." He pauses, eyeing me expectantly for
several seconds. When I remain silent, he sighs and continues: "So the
only aspect left for me to do is to negotiate a fair departure settlement
with you." Again he pauses. "The usual period of notice is one month.
The records show that you have accumulated leave of three weeks.
However, to be fair to you and do some reparation for what happened, we
will also make up for the commission income on which you missed out,
based on your commission income during this year. Does that sound fair
to you, Miss Walker?"

"Yes, sir, thank you."

"I’ll type that agreement, and once you’ve signed it, the funds will be
deposited in your bank account. I also see that Lewis holds quite a nice
portfolio of shares for you. What are your instructions on that?"

"I’ll take possession of them when I return the signed agreement. That
is the simplest."

"And what are you going to do with yourself now, if I may ask?"

"I’ve made no decision on that yet. There are several things that
require my attention for the coming weeks."

"Miss Walker, my offer for a senior stockbroker position remains
open, should you decide to change your mind."

The interview is over. It still feels unreal. Did I make the right
decision? Part of me tells me that I’m crazy to turn down such a unique
opportunity, while another part feels like I’ve escaped a horrible trap.

When I get back into the trading room, silence falls and all eyes turn
again on me. It is Long who musters the courage to ask: "Miss Walker,
are you our new boss now?"

"No, Edward, there is no need to fret. I’ve turned the position down.
In fact, I’ve resigned from Lewis."

"She’s crazy," someone mutters. It is Grant Hanson’s voice.

"Maybe, Grant, but look at it from your personal point of view. The
Ventura account is safe with you, although I won’t be surprised if
Carvaggio switches brokers."

"But why did you resign?" questions Long.

"Because the money is no compensation for the sick culture that rules
stockbrokers. Can you understand that, Edward?"

He averts his eyes and murmured: "Sorry, Miss Walker, I misjudged
you. I thought you were a climber."

"It’s all right, Edward. I think we’ve settled our differences. Goodbye
to you all."

With that I walk out. While waiting for the lift, I hear Grant’s loud
voice. "Good riddance," answered by another voice I think is Long’s:
"But she is a much better broker than you."

I make a detour via the hotel to pick up my sports bag. In the
underground on my way home, I make a few quick calculations about my
financial position: about 320,000 pounds in shares, even at the current
slump in prices, 60,000 in commissions which Garland withheld from
being paid out, and another 30,000 plus in compensation for lost earnings
promised by Levy. I can afford to remain unemployed for a while longer.

Wednesday, 12:40 p.m.

Back home, I call my father. I arm myself to receive a severe dressing
down for refusing the offer as branch manager. He doesn’t disappoint me.

"Yes, dad, I know I may be throwing away a unique opportunity, but
I simply couldn’t see myself spending years and years in a career that has
lost its challenge —"

"But being in charge of your own branch, that is a tremendous
challenge at a young age like yours."

"True, but it wouldn’t have satisfied me. I wouldn’t have enjoyed it.
Besides, you know yourself what kind of foul culture that outfit breeds.
No, dad, I wouldn’t be happy there. I want a career where I can have a
family, where I can devote ample time to the upbringing of my children
and not be burned out every day when coming home from work."

"Maybe you are right," he replies after a pause. "Anyway, it’s your
choice. I shouldn’t interfere. Are you serious about this Italian chef?"

"Yes, I am and so I feel is he, but he has to get a divorce first —"

"He is already married? You didn’t tell me. That’s no good."

"Yes, he’s married. He has a four-year-old daughter. His wife ran
away with another guy shortly after the birth of the girl. So for all intents
and purposes the marriage ended four years ago." I don’t think there is a
need to say more at this time.

"All right, it’s not for me to judge. He seems to be a nice fellow."

"Dad, another thing … are you willing to meet Carlo, reconnect with
him as a father?"

He takes a moment to answer. "All right, at your place or on neutral
ground."

"No, at your place for a meal with the family. Then both of you will
have to behave in front of the girls."

"You have it all figured out. I’ll have to ask Lucy."

"You do, but I’m certain she will agree. You see, the girls have already
taken a liking for their long lost brother."

Wednesday, 6:30 p.m.

Fausto arrives exactly on time. I guess he must have waited in the parking
area. Carlo and I are sitting at the bar. Silvio is in the kitchen, giving last
minute instructions. When I see Fausto enter, I go to meet him partway.
We shake hands and then I surprise him with the traditional brushing of
cheeks. He seems taken aback by it, but recovers fast, a pleased smile on
his face.

"Cecilia, I hardly recognize you all dressed up.
Sei stupenda
."

I’m wearing the same outfit as for the dinner with Silvio in my
apartment, except that I also wear underwear. My high heals make me as
tall as Fausto.

"Thank you Fausto. Come, join us at the bar. Silvio will be with us
shortly."

Carlo and Fausto exchange greetings.

"What would you like to drink?" I ask.

"What are you drinking?"

"Barbaresco."