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He smiled at her and said thank you and commenced reading.Moody got back to his position and asked for someone who was at last year meeting to confirm. The lady next to her confirmed and another one seconded. He then made the mistake of asking any questions? Andrew stated “Yes, what is your minimum number of owners that must attend, together with the number of units in this complex? Why is there no financial statement attached? Where is a duly timed copy of this meeting? Just to start?”He quickly replied “You are not an owner so you cannot ask.”Helena stated “He is representing the owner for unit 2202.” Jane kept a straight face!I hold the proxy for 2202 not him, Helena asked “What about unit 2201?”Moody replied “Yes I hold that as well even though it just changed hands?”Helena replied “Liar” Everyone looked at him. “I am the new owner and I did not give you written permission.”Jane who had moved away from Andrew, stated “It must be in writing please show us.”“No I do not have it in. Some of the older ones down here are treasure troves of undervalued assets from depression acquisitions. I've had the W & R staff look at the major holders of First National stock. We identified a couple of very interesting opportunities: Jefferson Life in Birmingham and an Alabama wholly owned sub of Peachtree Life in Atlanta. They own more than twenty percent of the stock in First National. The find was that they hold another fifteen percent in convertible bonds and hold options for ten percent. Jefferson and Peachtree own controlling interest of several of the major papers and radio/television stations in Alabama. Gannett is sniffing around newspapers, but they're concentrating on Florida right now."We have several potential deals, which we could do, but only if you're staying in Alabama. The net cost to acquire Peachtree and Jefferson should be between fifteen million on the low side, and a hundred million on the high side. The net cost will depend on how much of the assets we.
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