Everyone does. But he wins a lot more than he loses.'
'What's he into now?'
'I don't know like I said, close-to-the-cuff's his style. Invests only for himself, so he's got no shareholders to deal with. I doubt, though, that he's high on real estate.'
'Why's that?'
'Because real estate's a turkey. I don't mean for someone like you who bought in years ago and is just looking for some stable income.
But for traders out for a quick profit, the party's over, at least for now.
I divested myself a while ago, moved back into stocks. Jones is smarter than me, so odds to evens he got there before I did.'
'His son owns a big block of land out in the Valley.'
'Who said wisdom is genetic?'
'His son's a college professor. I don't think he was able to buy fifty parcels for himself.'
'Probably his trust fund-I don't know. You'll still have to convince me Chuck's getting into r.e. in a big way. The land the hospital's on is Hollywood, right?'
'Several acres,' I said. 'Purchased a long time ago-the hospital's seventy years old-so it's probably all paid for. Even in a slump, a sale would be pure profit.'
'Sure it would, Alex. But to the hospital itself. What'sJones's incentive?'
'Commission on the deal.'
'How many acres are we talking about and where exactly are they?'
'Five or so.' I told him Western Peds's address.
'Okay, so that's ten, fifteen million-let's even say twenty because of contiguous lots. Which is liberal, because that big of a chunk would be hard to unload, so you might have to subdivide into smaller parcels.
That could take time-there'd be zoning hassles, hearings, permits, environmental shenanigans. The biggest cut Chuck could take for himself without attracting a commotion would be twenty-five percent-ten's more likely. Meaning two to five mil in his pocket..
.
No, I can't see Chuck messing around for that kind of money.'
'What if there's more to it?' I said. 'What if he not only plans to close down one hospital but is also figuring to open up a new one on his son's land?'
All of a sudden he's in the hospital business? I doubt it, Alex.
oNo offense, but health care's a turkey too. Hospitals have been going obelly-up almost as fast as savings and loans.'
'I know, but maybe Jones figures he can do a good job anyway, obucking the trend. You just said he doesn't pay attention to what everyone else is doing.'
o Anything's possible, Alex, but once again you'd have to prove it to me. Where'd you come up with all this theorizing, anyway?'
o I told him about Plumb's comments in the paper.
Ah, the other name on your list. Him, I'd never heard of him, so I looked him up in every directory I've got. What emerges is your basic corporate drone: M.B.A doctorate, a series of management o o. jobs, climbing the ladder. His first job was at a national accounting firm named Smothers and Crimp. Then he moved into the head office of another place.'
'Where?'
