Chapter 7 A Whole New Ballgame
We walked into the office of Valley Investments precisely at ten on Monday morning, noticing that Norman Fears' secretary was still out on an errand. He appeared almost immediately.
"Good morning, Mr. Monahan. I'm pleased to see you are on time. I assume you have a proposal to put forward this morning?" he said, completely ignoring Catherine.
"Yes, as promised, I have a proposal," I confirmed as we sat in front of his desk.
I handed him a binder with several pages in it and he quickly opened it, flicking through pages, obviously looking for the number I was offering. When he found it his face darkened and I could see anger forming.
"This is unacceptable, Mr. Monahan. You've wasted my time and I'm not pleased," he bluffed.
"Well, if you review the material, you'll see my rationale for that offer, Mr. Fears. First of all, its only value is as either a golf course or farm land. You will find an independent appraisal of the property as potential farm land and it indicates a maximum price of forty-five-hundred per acre. That would equate to a little less than four hundred thousand for the eighty-eight acres. That is the maximum value and I'm prepared to offer that to you here and now."
"It's worth more than that as a golf club," he spat, now quite agitated.
"Perhaps, but not in the condition that Bending Willows is in right now. It's going to take several million dollars to put it into the shape it needs to be in to make it viable. My offer is unconditional and is in cash. You won't be taking any paper in exchange."
He looked up at that, clearly not having read the proposal in any detail yet. He sat back in his chair and rubbed his chin, probably trying to think of a way to save face. I didn't need to rub it in any more. It was his decision to make.
"I'd like some time to study this offer and discuss it with my partners. I have to tell you that it's very disappointing but I will at least do you the courtesy of looking it over carefully. I should be able to get back to you today," he said, with a crestfallen look. His little dreams had been shattered and he knew it.
"Fine. I can give you that. I have all my other components in place so a yes or a no from you will complete our discussions."
He stood, but again didn't offer his hand.
"Thank you for your patience, Mr. Fears. I'll look forward to hearing from you."
With that, we left the office.
"Did that go the way you expected?" Catherine asked.
"Not quite, but close enough. His mythical partners are probably one Mr. John Fortrand who will no doubt encourage him to accept my offer. Unbeknownst to Norman, I have sent Mr. Fortrand a copy of the real estate appraisal so he knows what we believe the disposal price is. That should speed up the process."
"You've thought of everything haven't you," she said seriously.
"I hope so," I sighed. "This has become important to me. Every day I'm thinking about what kind of golf course I want and how I will market it to the people of the Portland area. I've been making notes about buildings and contractors and golf course architects. I will have to make all kinds of decisions, even down to how we will mow the grass and tend the greens. I've got a whole lot more questions than I have answers."
"Well, for what it's worth, I hope he sells to you. I can see how much this means to you."
"That's worth a lot to me, Catherine. I want you to be as happy and as confident of the future of Bending Willows as I am."
"Do you think there is a place for Scotty in this plan?" she asked.
"There very well could be. Why don't we go out there and talk to him. Let's see how he feels about it."
Catherine agreed and we drove over to the old course, arriving just before eleven. There were only three cars in the parking lot when we arrived.
"Doesn't look like there'd be much of a wait to tee off," I joked.
Catherine just shook her head. She didn't see anything humorous in the situation at all. I think she was more concerned with her friend. I would keep that in mind when we talked.
When we found him, Scotty was dusting the pro shop inventory, such as it was. A few dozen golf balls, a handful of gloves, some used clubs and a couple of pairs of odd-sized shoes. Other than that the shelves were barren.
"Hi, Scotty," Catherine said as we entered the shop.
"Hello, Catherine. How are ye today, Lass?" he said in his thick brogue. "I see ye still have the Irish lad in tow."
"I'm fine, Scotty. I don't know if you heard but I won the Open yesterday," she said proudly.
"Aye, Lass, I heard. Congratulations. I suppose that means ye will be back on the tour soon." He didn't say it as if he was happy about that possibility.
"I don't think so," she said. "I have a new job ... executive assistant to the president of Bending Willows Golf Club. So I won't be able to just drop my duties and take off on tour."
The look on Scotty's face was priceless. He couldn't believe what he was hearing, especially not from Catherine.
"Is it true, Lad?" he asked, turning to me.
"It will be in a few hours. That's why we're here. We'd like to talk to you about the future of the course and where you might fit in with our new company. Can you spare some time for us?"
"Look about ye, Lad. Does it look like I'm buried in tasks?"
I nodded with a smile. For the next hour, I detailed some of my thinking and some of the questions I had about what made the most sense. It was there that Walter Ferguson showed his true worth. He knew the business and he knew what worked and what didn't and explained why. It wasn't just opinion, it was years of experience in both Scotland and here.