Jonathan listened carefully.
"Would you consider proceeding if those conditions were satisfied?"
"Possibly."
"Even after what happened?"
Naomi looked down at her right arm.
There was still a faint red mark where the security guard had grabbed her.
"The incident at the hangar is not the only problem."
"I understand."
"No, I don't think you do."
Naomi continued.
"I am not interested in punishing a company because one executive was arrogant. I am interested in ensuring that the assets being sold are accurately represented and safe."
Jonathan was silent.
"If the company has a genuine maintenance problem, we can evaluate it. If it has a financial problem, we can evaluate that too. But if anyone deliberately concealed information, that changes everything."
Jonathan sighed.
"I agree."
"Then I suggest you begin by asking your chief executive why the maintenance records were altered."
The chairman did not answer immediately.
Finally, he said, "I will."
The investigation continued for the next five days.
Northstar's independent auditors worked with Sterling's maintenance department.
The results were increasingly troubling.
Seven aircraft required additional inspections.
Four had incomplete maintenance histories.
Two had component records that could not be independently verified.
One aircraft had been listed as having a recently replaced engine even though the available records did not establish that the replacement had occurred.
The spare-parts inventory contained discrepancies involving millions of dollars.
And the financial review revealed that Sterling had been using anticipated transaction proceeds to meet immediate obligations.
The company was not simply seeking a buyer.
It was depending on the sale to survive.
On Monday morning, the Sterling board held an emergency meeting.
Richard attended.
So did Jonathan Pierce, Peter Caldwell, and the remaining directors.
The first item on the agenda was the suspended Northstar transaction.
The second was an internal investigation into the maintenance records.
The third was Richard's conduct.
Jonathan placed a printed report in front of the board.
"We have reviewed the available documents. The discrepancies are serious."
Richard leaned forward.
"They are being exaggerated."
"Seven aircraft?"
"Administrative issues."
"Two aircraft requiring immediate inspection?"
"Routine technical work."
"Unverified components?"
"An inventory reconciliation issue."
Jonathan looked at him.
"Richard, I have spent forty years in aviation. Do not insult my intelligence."
Richard's face reddened.
"You're allowing a buyer to dictate how we run this company."
Jonathan shook his head.
"No. I'm asking why our own records don't match the aircraft."
Peter spoke quietly.
"We need the Northstar money."
Jonathan turned toward him.
"That's precisely why we should be careful."
Richard slammed his hand against the table.
"Careful? If this deal collapses, we could lose everything."
Jonathan looked at him.
"Then perhaps you should have told the board how serious the financial situation had become."
Richard said nothing.
The chairman opened another document.
"There's also the issue of the attempted escrow amendment."
Richard looked toward the door.
"That was a routine request."
"Without board approval?"
"It was an operational matter."
"One hundred and twenty-five million dollars is not an operational matter."
Richard leaned back.
"Are we seriously discussing this?"
"Yes."
Jonathan looked around the room.
"I am proposing that Richard Voss be placed on administrative leave pending the outcome of the investigation."
The room went silent.
Richard stared at him.
"You cannot be serious."
"I am."
"After eleven years?"
"Yes."
"You know what I've done for this company."
"I do."
"Then you know this is ridiculous."
Jonathan closed the folder.
"Your record will be considered. But it will not protect you from the questions we need answered."
Richard looked around the table.
Nobody supported him.
For the first time in eleven years, he was no longer the most powerful person in the room.
On Wednesday, Naomi received a formal invitation to meet the Sterling board.
She initially declined.
She had no interest in sitting through another meeting where executives explained why the documents were incomplete.
But Elizabeth persuaded her to reconsider.
"The board has removed Richard from the transaction process."
"That's a start."
"They have also agreed to an independent review."
"Good."
"And they want to discuss restructuring the agreement."
Naomi looked at her.
"Why?"
"Because the company still has valuable assets. The aircraft are not all compromised, and the maintenance facilities are operational."
Naomi thought for a moment.
"What are they proposing?"
"An asset-by-asset transaction instead of a single fleet acquisition."
Naomi nodded slowly.
"That makes more sense."
"Would you attend?"
"Yes."
"Under what conditions?"
Naomi looked at the file.
"First, the safety issues must be resolved. Second, the financial information must be independently verified. Third, the company must establish a proper compliance structure."
Elizabeth made a note.
"Anything else?"
"Yes."
Naomi paused.
"Robert Lang stays."
Elizabeth looked up.
"The maintenance engineer?"
"Yes."
"Why?"
"Because he told the truth when it would have been easier to remain silent."
Elizabeth nodded.
"I'll include that."
The following Friday, Naomi returned to Sterling Aerospace.
This time, she arrived with Elizabeth Carter, Daniel Mercer, Samuel Reed, and two independent aviation auditors.
She wore a simple black tailored suit.
No fur coat.
No dramatic accessories.