GML Staff Meeting
“Just what in the hell is so important that it couldn’t wait until morning!” Ranell bellowed at his team as he burst into the conference room door.
Dominique Larbonne stepped forward as if he had drawn the short straw to face Ranell's wrath on behalf of the entire team. “Please don’t be angry, Josef. Zee bank has moved up our timeline, and we must make a decision tonight.”
“How about we decide to wait until tomorrow morning!” It felt good to lash out, to release some of his pent-up frustration. But it didn’t change the circumstances, and deep in his heart Ranell understood that.
Now Mitch Anderson stepped forward, puffing up like he was ready to take a swing. “Because if we wait until tomorrow morning, there won’t be a GML to come back to!”
The two men stared intensely at each other as electric tension crackled between them.
Ranell backed down. “Take it easy, Mitch,” he said, raising both hands in a sign of surrender and waiving his teammates back to their seats. “I’ve had a long flight, and I’m just tired. Please," he implored, "someone tell me what's going on."
Larbonne leaned forward in an evident attempt to diffuse the tension, but the fear emanating from his eyes betrayed him. "Josef, we're so sorry to bring you in, but we’ve just received word that our bid to restructure GML’s debt has been denied.”
“Why?” Ranell understood from the original text message that this deal was at risk, but since his corporation’s financials were solid, he needed to understand why the proposal was being rejected. "Don't they know I just landed the deal with Strange Lake? All we need is a little time, and we’ll be making more than enough to cover the payments for our airships.”
“It’s not just the damn airships, Josef.” Anderson was still glowering, but he seemed to have regained some control of his temper, “It’s everything, the trucks, the planes, the cargo ships, all of it.”
“What?” Ranell felt the floor drop out from under him. “You’ve got to be kidding. How is that even possible? Was there a problem with our documentation? What did we do wrong?”
“No, no, nothing like that,” Larbonne shook his head vigorously and waved the idea away before placing his hands over his temples as if he could massage the tension away. "It's nothing we did. Josef, a lot has happened in the last twenty-four hours. While you were returning to LA, there was a run on our bank."
Ranell slumped back in his chair, collapsing in an exhausted heap. “You’ve got to be kidding me. Another one?" The collapse of the commercial banking industry distinguished the beginning of the Depression. But the federal government had finally stepped in with massive intervention and a suite of new regulations. “I thought we were past all that!”
“The FED increased the interest rates again,” Anderson commented flatly. Then, with more heat, “Regional banks all over the country are being forced to merge with the few remaining large national banks.”
“So what?” Intellectually, Ranell was engaged, but emotionally he was exhausted. He squeezed his eyes together and pinched the bridge of his nose. I’ve got to concentrate. “Why does it matter if a big or small bank has our loans in its portfolio? Isn't a loan just a loan? You know I’m a logistician, not a finance guy. Help me with this.”
Choose Option 1: Learn about Interest Rates
Choose Option 2: Consider Liquidating Assets