A week ago the Honorable Harold had dropped by to protest Alex's veto of Keycharge credit-card advertising prepared by the Austin agency. "Keycharge marketing expansion was approved by the board of directors," the Honorable Harold had objected. 'What's more, the department heads at Keycharge had already okayed that particular ad campaign before it got to you. I'm of two minds whether to bring your high-handed action to the attention of the board or not."
Alex was blunt, '`To begin with, I know exactly what the directors decided about Keycharge because I was there. What they did not agree to was that marketing expansion would include advertising which is sleasy, misleading, half-truthful and discreditable to the bank. Your creative people can do better than that, Harold. In fact, they already have I've seen and approved the revised versions. As for being high-handed, I made an Executive management decision well within my authority, and any time necessary I'll do the same again. So if you choose to bring the subject before the board, you can. If you want my opinion, they won't thank you for it they're more likely to thank me."
Harold Austin had glowered, but apparently decided to drop the subject, perhaps wisely because Austin Advertising was going to do just as well financially with the revised Keycharge campaign. But Alex knew he had created an antagonist. He doubted, though, if it would make any difference today since the Honorable Harold obviously preferred Roscoe Heyward and was lately to support him anyway.
One of his own strong supporters, Alex knew, was Leonard L. Kingswood, outspoken, energetic chairman of Northam Steel, now seated near the head of the table, conversing intently with his neighbor. It was Len Kingswood who had telephoned Alex several weeks ago to advise him that Roscoe Heyward was actively canvassing directors for support as president. "I'm not saying you should do the same, Alex. That's for you to decide. But I'm warning you that what Roscoe's doing can be effective. He doesn't fool me. He's not a leader and I've told him so. But he has a persuasive way which is a hook that some may swallow."
Alex had thanked Len Kingswood for the information but made no attempt to copy Heyward's tactics. Solicitation might help in some cases but could antagonize others who objected to personal pressure in such matters. Besides, Alex had an aversion to campaigning actively for Ben's job while the old man remained alive.
But Alex accepted the necessity for today's meeting and decisions to be made here.
A hum of conversation in the boardroom quietened. Two late arrivals who had just come in were settling down. Jerome Patterton, at the table's head, tapped lightly with a gavel and announced, "Gentlemen, the board will come to order."
Patterton, projected into prominence today, was normally self-effacing and, in the management echelon of the bank, something of a timeserver. Now in his sixties and near retirement, he had been acquired as part of a merger with another, smaller bank several years ago; since then his responsibilities had quietly, and by mutual agreement, diminished. Currently he concerned himself almost equally with trust department matters and playing golf with clients. The golf took priority, to the extent that on any working day Jerome Patterton was seldom in his office after 2:30 P.M. His title of vice-chairman of the board was largely honorary.
In appearance he resembled a gentleman farmer. Mostly bald, except for a white, halo-fringe of hair, he had a pointed pink head uncannily like the narrow end of an egg. Paradoxically, his eyebrows were matted and fiercely sprouting; the eyes beneath were gray, bulbous, and becoming rheumy. Adding to the farmer image, he dressed tweedily. Alex Vandervoort's assessment of Patterton was that the vice-chairman had an excellent brain which in recent years he had used minimally, like an idling motor.
Predictably, Jerome Patterton began by paying tribute to Ben Rosselli, after which he read aloud the latest hospital bulletin which reported "diminishing strength and eroding consciousness." Among the directors, lips were pursed, heads shaken. "But the life of our community goes on." The vice-chairman enumerated reasons for the present meeting, principally the need to name, speedily, a new chief executive for First Mercantile American Bank.
"Most of you gentlemen are aware of procedures which have been agreed on." He then announced what everyone knew that Roscoe Heyward and Alex Vandervoort would address the board, after which both would leave the meeting while their candidacies were discussed.
"As to the order of speaking, we'll employ that ancient chance which all of us were born under alphabetical precedence." Jerome Patterton's eyes twinkled toward Alex. "I've paid a penalty sometimes for being a 'P.' I hope that 'V' of yours hasn't been too burdensome."
"Not often, Mr. Chairman," Alex said. "On some ocasions it gives me the last word."
A ripple of laughter, the first today, ran around the table. Roscoe Heyward shared in it, though his smile seemed forced.
"Roscoe," Jerome Patterton instructed, "at your convenience, please begin."
'Thank you, Mr. Chairman." Heyward rose to his feet, moved his chair well back and calmly surveyed the nineteen other men around the table. He took a sip of water from a glass in front of him, cleared his throat, and began speaking in a precise and even voice.
"Members of the board, since this is a closed and private meeting, not to be reported in the press or even to other shareholders, I shall be forthright today in emphasizing what I conceive to be my first responsibility, and this board's the profitability of First Mercantile American Bank." He repeated with emphasis, "Profitability, gentlemen our priority number one."
Heyward glanced briefly at his text. "Allow me to elaborate on that.
"In my view, too many decisions in banking, and in business generally, are being excessively influenced nowadays lay social issues and other controversies of our times.
As a banker I believe this to be wrong. Let me emphasize that I do not in any way diminish the importance of an individual's social conscience; my own, I hope, is well developed. I accept, too, that each of us must re-examine his personal values From time to time, making adjustments in the light of new ideas and offering such private contributions as he can. But corporate policies are something else. They should not be subject to every changing social wind or whim. If they were, if that kind of thinking is allowed to rule our business actions, it would be dangerous for American free enterprise and disastrous for this bank by lessening our strength, retarding growth, and reducing profits. In short, like other institutions, we should once again stay aloof from the socio-political scene which is none of our concern other than how that scene affects our clients' financial affairs."
The speaker intruded a thin smile into his seriousness. "I concede that if these words were spoken publicly they would be undiplomatic and unpopular. I will go further and say that I would never utter them in any public place. But between us here, where real decisions and policy are made, I conceive them to be wholly realistic."
Several of the directors gave approving nods. One enthusiastically thumped his fist upon the tabletop. Others, including the steel-man Leonard Kingswood, remained expressionless.
Alex Vandervoort reflected: So Roscoe Heyward had decided on a direct confrontation, a total clash of views. As Heyward was undoubtedly aware, everything he had just said ran contrary to Alex's own convictions, as well as Ben Rosselli's, as demonstrated by Ben's increasing liberalization of the bank in recent years. It was Ben who had involved FMA in civic affairs, both city and statewide, including projects like Forum East. But Alex had no delusions. A substantial segment of the board had been uneasy, at times unhappy, about Ben's policies and would welcome Heyward's hard, all-business line. The question was: How strong was the hard line segment? With one statement made by Roscoe Heyward, Alex was in full agreement. Heyward had said: This is a closed and private meeting… where real decisions and policy are made. The operative word was "real..