Monday morning, the Wall Street Journal broke the news of the collapse of the settlement negotiations down in Hattiesburg.
The story, on page 2, was written by a reporter with some very good sources inside Krane Chemical, one of whom blamed the plaintiffs' lawyers. "Their demands were just too unrealistic. We went in in good faith, and got nowhere." Another anonymous source said, "It's hopeless. Because of the verdict, every trial lawyer thinks his case is worth forty million bucks." Mr. Watts, Krane's CEO, said, "We are very disappointed.
We wanted to get this litigation behind us and move on. Now our future is quite uncertain.”
Carl Trudeau read the story online at 4:30 in the morning in his penthouse. He laughed and rubbed his hands together in anticipation of a very profitable week.
Wes called Jared Kurtin throughout the morning, but the great man was traveling and could not be reached. His cell phone was stuck on voice mail. His secretary eventually became rude, but then so was Wes. He and Mary Grace seriously doubted if the wild demands by Sterling Bintz had frightened Krane away. In relative terms, his suggestion of $30 million would be a fraction of any workable settlement.
When the news finally arrived in Bowmore, it was received like another plague.
At McCarthy headquarters, Nat Lester had worked through the night and was still wired when Sheila arrived at 8:30, her usual time. He had e-mailed the Times story to every newspaper in the district and was calling reporters and editors when she walked in with a well-rested smile and asked for a pineapple juice.
"We've got these clowns on the run!" he announced jubilantly. "Their dirty tricks have caught up with them.”
"Congratulations. It's beautiful.”
"We're sending the editorials and the Times story to every registered voter.”
"How much does that cost?”
"Who cares? With a week to go, we can't pinch pennies. Are you ready?”
"I leave in an hour.”
The next seven days would take her to thirty-four stops in twenty counties, all made possible by the use of a King Air on loan from one trial lawyer and a small jet from another. The blitz had been coordinated by Nat and would take place with the help of schoolteachers, labor bosses, black leaders, and, of course, trial lawyers. She would not return to Jackson until after the election. While she was on the stump, her last round of television ads would flood the district.
By the time the votes were counted, her campaign would not have one dime. She was praying that it would not be in debt.
Ron Fisk finally left the house on Monday morning, but he did not make his usual trip to the office. Instead, he and Doreen drove to Jackson, to the offices of Judicial Vision for another long and stressful meeting with Tony Zachary They had slugged their way through a four-hour ordeal on Sunday afternoon in the den of the Fisk home, and they had resolved little. Ron was suspending all campaign activities until he could repair his good name. He had fired Tony at least four times, but they were still talking.
Throughout the day and into Sunday night, Tedford in Atlanta had been polling furiously, and by late Monday morning there were some results. In spite of the barrage of condemnation, Ron Fisk was still three points ahead of Sheila McCarthy. The gay marriage issue had captivated the voters, most of whom still favored the more conservative candidate.
Ron wasn't sure if he could believe anyone who worked for his campaign, but the new poll did lighten his mood somewhat. "You've got this thing won, Ron," Tony said again and again. "Don't blow it.”
They finally reached an understanding, one that Ron insisted they sign as if they had negotiated a contract. First, Ron would stay in the race. Second, Tony would keep his job as campaign manager. Third, Ron would meet with the newspaper editors, admit his mistakes, and promise a clean race for the remaining eight days. Fourth, no campaign literature, ads, TV spots, direct mail, radio commercials, nothing would be used until it was first approved by Ron.
When they were pals again, they enjoyed a quick lunch at the Capitol Grill, then Ron and Doreen drove home. They were proud that they had held their ground, and anxious to resume the campaign. They could smell the victory.
Barry Rinehart arrived in Jackson at noon on Monday and established his base in the largest suite of a downtown hotel. He would not leave Mississippi until after the election.
He waited impatiently for Tony to arrive with the news that they still had a horse in the race. For a man who took great pride in staying cool regardless of the pressure, the past twenty-four hours had been nerve-racking. Barry had slept little. If Fisk quit, then Rinehart's career would be severely damaged, if not outright ruined.
Tony walked into the suite with a huge smile, and both men were able to laugh. They were soon reviewing their media buys and advertising plans. They had the cash to saturate the district with TV ads, and if Mr. Fisk wanted only positive ones, then so be it.
The market's reaction to the settlement news was swift and ugly. Krane opened at $15.25 and by noon was trading at $12.75. Carl Trudeau watched the fall gleefully, his net worth shrinking by the minute. To add to the fear and frenzy, he organized a meeting between the top Krane executives and the company's bankruptcy attorneys, then leaked this news to a reporter.
On Tuesday morning, the Business section of the New York Times ran a story in which an in-house lawyer for the company said, "We'll probably file for bankruptcy protection this week." For the first time in twenty years, the stock fell through the $10.00 floor and traded around $9.50.
At midday on Tuesday, Meyerchec and Spano arrive............