The Last Leaf

All he thought about was his money. He had no time for a family, nor for friends he could not use.

Eventually he owned all or most of nearly 500 small companies. He was investigated and cleared by authorities not believing his meteoric rise in wealth didn’t hide criminal activity.

He only used one low-wattage bulb in his little apartment. He bought used clothes at the thrift store, and wore them until there was nothing left. He bought nothing extravagant, and ate the simplest foods. His reputation became one of an eccentric businessman, tough, focused, innovative, ruthless, but above all, frugal.

He worked constantly. He converted the next-door apartment to an office to not waste time commuting. He hired a secretary, then additional staff for menial work as needed. Typically, he met with each of his CEO’s or managers at least once per month for an in-depth review. They never got a third chance to do well, and depending on how much they missed expectations, they might not get a second chance. He paid those doing well the highest salary, grading them on how well they answered his questions before he asked them. They must know what he wanted and know it well.

He re-organized his small bank before taking it private. The bank managed the accounts receivables and payables for all his companies. It processed payroll checks, and accumulated monies for paying taxes. Employees using the bank received a special incentive bonus, increasing the bank’s deposit base. The bank started selling bonds, which they then loaned the proceeds to his different companies. The bond business captured the profit financial institutions normally made, eventually becoming the most bank’s lucrative business. The primary customer for the bonds was his company’s pension funds and employee 401k funds. The bank’s size exploded, becoming a prominent regional financial institution.

Soon other businesses approached his bank for their bond business. His bank’s endless appetite for all types of bonds welcomed the business. However, what started above board slowly drifted into shadow arrangements including using foreign currency exchange, multiple layers of off-shore shell companies, and other potential unsavory arrangements. The bank’s major capitalization continued depending on his personal assets.

It was sudden, very sudden. It started with a fire in one of his warehouses, likely started by an indigent, that became more than another minor business loss. Somehow, the fire detection and suppression system didn’t work. Several solvent drums ignited which, in turn, took flight like flaming bottle rockets. One landed on a freeway, hitting a tank truck of propane. The resulting fire and explosion caused numerous freeway deaths and injuries. Another drum landed on the roof of an elementary school. The roofing tar ignited (later they found the fire retardant was inadvertently not added), burning the school to the ground and killing over 100 second and third grade children and severely scarring another 50. The fire marshal reported the school’s fire protection systems (supplied and installed by another of his companies) were defective. Unsurprisingly, the courts found his companies negligent.

One of his companies made the coating on the inside of soft drink cans. Some medical researcher discovered this coating caused permanent neurological damage, eventually resulting in Alzheimer’s. Worse, mid and upper level managers hid the problem, trying to buy and bury the research. He testified before congress to his product’s safety, based on information given him. Now he was potentially facing Contempt of Congress charges as well.

Lawsuits mounted, forcing him to give more oversight of his companies to managers. He selected one to oversee the entire portfolio as he focused more and more on the lawsuits. His consuming legal problems limited properly vetting him.

Two months after the fire, the IRS called. They discovered the foreign currency shadows, and wanted answers he didn’t have. In addition, his new manager embezzled most of his money, and had left the country. Worse, he took the taxes withheld from employees. The next day business news was “very juicy” to say the least. His attorney indicated it likely he will serve jail time.

He sat in the same tiny room he had since he moved from his parents’ home, under his single light bulb, stacks of statements and judgements on his table staring at him. He knew they consumed far more than his cash accounts.

“I might be able to cover most of these if I completely liquidate everything. My problem will be getting their value in a fire sale. I will be lucky to get ten cents on a dollar! There is nothing left!”

Wave after wave of hopelessness and despair washed over him, mingled with the regret of a life wasted by his obsession.

He felt pathetic, miserable, and worthless. A vicious back stroke of his hand scattered the stacks across the floor.

“Now what? What will I do?”