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Return to Gotcha! - click on green buttonCHAPTER ONE
The majestic Maryland countryside was in full splendor on this brilliant morning in May of 1993. Temperatures hovered in the low 70s, and the wind blew gently from the northeast. It was the sort of day that comes along only a few times in the course of the season. The skies were a celestial blue, and puffy cumulus clouds infrequently cast shade on a lush ground still damp from the heavy late-April showers. The flag of the Whittaker Corporation flapped rhythmically atop the tall pole centered just in front of the building’s imposing glass entrance. Today was the first day of Peter Moses’ new job with the Whittaker Corporation.
Peter parked his car in the Visitors Parking lot. He sat for a moment, reflecting on how he had arrived at this pivotal point in his life. Then with a self-satisfied smile, he opened the door of his Acura and stepped onto the hot pavement. He looked at the Whittaker Corporation building, glistening in the midmorning sun, and again smiled to himself. He then locked the car door and walked briskly toward the building.
Peter was a man of average height, with a large chest and massive shoulders. His build and athletic carriage caused people to believe that he was a physical fitness devotee, but that was incorrect. He didn’t mind physical activity, but it bored him. His sole physical activities were sailing his boat on the Chesapeake Bay and practicing Tai Chi. He had sailed his entire life, but now he was limited to making short two- and three-day cruises for relaxation and thinking through important decisions he must make. In his midyears he had begun to practice Tai Chi, and that had contributed to his sense of balance and grace. It also gave him a feeling of calm and inner peace.
In his late fifties and a bachelor by choice, Peter had devoted his entire life to his career. He had graduated from college with honors twenty years before, earning degrees in both mathematics and industrial engineering. Peter began his career as an apprentice engineer for a small aerospace company. He soon mastered both the technical and business aspects of the military-industrial macrocosm that he wanted to be a part of, in order to help bring the Cold War to a successful and peaceful conclusion.
Peter had established his own company, Moses Associates, about fifteen years earlier, during the mid-1970s. He had prepared for the founding of his company through his experience in several different jobs in both government and industry. Moses Associates, specialized in problem solving for various branches of the military-industrial complex, with particular emphasis on the research and development section of the Department of Defense. After a few years during which he and his rapidly growing company provided consulting services, he had been approached by several government agencies to help with the development of “one- of-a-kind” systems that, despite the difficulty involved, had to be completed and in working order within budget and time constraints.
After successfully completing these projects to the full satisfaction of his clients, Peter was approached in early 1992 by the Whittaker Corporation to merge Moses Associates into their massive operation. Whittaker’s reputation was flawless, having served clients in government and industry in a more general industrial manner than had Peter and his company.
Whittaker focused on industrial operations and was now branching into the burgeoning electronic and computer/communication fields. While they were known for their excellent products, they did not always produce innovative solutions that were needed by both government and industry. Many of Peter’s government clients, after retirement, had become consultants to Whittaker Corporation. They had slowly convinced Whittaker’s management team that buying Peter’s flourishing company would be “a match made in heaven.”
Further, since Whittaker Corporation was a successful publicly held company, it would not be too difficult to arrange for the buyout of Moses Associates through an exchange of stock with only a small amount of cash required. Negotiations between the two companies began in an atmosphere of trust and mutual anticipation. Fritz Bacon, the Chairman of the Board, took considerable effort to learn the technical attributes of Moses Associates. He also made discrete inquiries regarding Peter’s character and reputation. He found that both Peter and his company were highly regarded for their integrity and ability to get any job done. Alexander Mollino, the President and Chief Executive Officer of Whittaker, and Leland Eisenstein, the Chief Financial Officer, both recognized the wisdom of the merger and attempted to bring it to a swift conclusion.
Senior staffs of both companies were excited by the prospect of the merger. The two companies had distinct and different, yet compatible capabilities. Negotiations were conducted under the watchful eyes of several interested parties, including Wall Street analysts, who heard rumors of the impending takeover. Eventually, Whittaker Corporation purchased Moses Associates for a small amount of cash and an exchange of stock, an important consideration in the merger. Whittaker’s stock was doing extremely well; further, its financial future looked extremely bright.
Peter, as the majority stockholder in his own company, was now a major shareholder of the Whittaker Corporation and a very wealthy man. The merger guaranteed Peter the right to sell his Whittaker stock back to Whittaker Corporation at a contractually established floor price, no matter what the publicly traded value of the stock was at the time of sale. In return for these financial windfalls, Peter agreed to stay with Whittaker Corporation for at least five years. He was also to continue to operate Moses Associates as a wholly owned subsidiary of Whittaker, to serve on the Board of Directors of Whittaker, and to provide policy guidance to Whittaker’s senior officials on all matters that related to his expertise. In short, Peter became rich beyond his wildest imagination doing the type of work that he always enjoyed. From being just comfortable, he was about to accumulate astonishing amounts of wealth for his own personal pleasure.
Peter, who had toyed with the idea of taking early retirement and doing other vague, ill-defined projects, was now committed to a course of action over the next five years that would eventually change his life and those of thousands of his fellow employees beyond anything that they could have ever expected. Today was the first day of his new job with Whittaker Corporation.