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“I’d like to open this meeting by welcoming my son Sebastian Clifton onto the board.”
Hear, hears echoed around the ballroom.
“While being inordinately proud of his achievement at such a young age, I feel I should warn Mr. Clifton that the rest of the board will be observing his contributions with considerable interest.”
“Thank you, chairman,” said Sebastian, “for both your warm welcome and your helpful advice.” Seb’s words caused several members of the board to smile. His mother’s confidence, with his father’s charm.
“Moving on,” said the chairman, “allow me to bring you up to date on what has become known as the Home Fleet incident. Although we cannot yet afford to relax, it would appear that our worst fears have not been realized. Nothing of any real significance found its way into the press on either side of the Atlantic, not least, I’m told, because of a little assistance from Number Ten. The three Irishmen who were arrested in the early hours of our first night at sea are no longer on board. Once we’d docked and all the passengers had disembarked, they were discreetly transferred to a Royal Navy frigate, which is now on its way to Belfast.
“The damaged propeller, although not back to its full capacity, still has a rev count of around sixty percent, and will be replaced once we arrive back in Avonmouth. Our maintenance team worked day and night on the damaged hull while we were docked in New York and have done a first-class job. Only a seasoned mariner would be able to spot any sign of repair. Further work on the hull will also be carried out while we’re in Avonmouth. I anticipate that by the time the Buckingham sets out on its second voyage to New York in eight days’ time, no one would know we ever had a problem. However, I think it would be unwise for any of us to discuss the incident outside the boardroom, and should you be questioned on the subject, just stick to the official Home Fleet line.”
“Will we be making a claim on our insurance policy?” asked Knowles.
“No,” said Emma firmly, “because if we did, it would undoubtedly throw up a lot of questions I don’t want to answer.”
“Understood, chairman,” said Dobbs. “But how much has the Home Fleet incident cost us?”
“I don’t yet have an accurate figure to present to the board, but I’m told it could be as much as seven thousand pounds.”
“That would be a small price to pay, given the circumstances,” chipped in Bingham.
“I agree. However, no reference to the Home Fleet incident need be recorded in the minutes of this board or disclosed to our shareholders.”
“Chairman,” said the company secretary, “I’ll have to make some
reference to what happened.”
“Then stick to the Home Fleet explanation, Mr. Webster, and don’t circulate anything without my approval.”
“If you say so, chairman.”
“Let’s move on to some more positive news.” Emma turned a page of her file. “The Buckingham has a one hundred percent occupancy for the journey back to Avonmouth, and we already have a seventy-two percent take-up for the second voyage to New York.”
“That is good news,” said Bingham. “However, we mustn’t forget the 184 free cabin spaces we have offered as compensation that are sure to be taken up at some time in the future.”
“At some time in the future is what matters, Mr. Bingham. If they are evenly distributed over the next couple of years, they’ll have little effect on our cash flow.”
“But I’m afraid there’s something else that might well affect our cash flow. And what makes it worse, the problem is not of our making.”
“What are you referring to, Mr. Anscott?” asked Emma.
“I had a very interesting chat with your brother on the way out, and found him fairly sanguine about the consequences of the country having to borrow one and a half billion pounds from the IMF in order to stop a run on the pound. He also mentioned the possibility of the government imposing a seventy percent corporation tax on all companies, as well as ninety percent income tax on anyone earning over thirty thousand a year.”
“Good God,” said the admiral. “Will I be able to afford my own funeral?”
“And the chancellor’s latest idea,” continued Anscott, “which I find almost inconceivable, is that no businessman or holidaymaker will be allowed to leave the country with more than fifty pounds cash in their possession.”
“That won’t exactly tempt people to travel abroad,” said Dobbs with some feeling.
“I think I may have found a way around that,” said Sebastian.
The rest of the board turned toward the newest recruit.
“I’ve been carrying out a little research into what our rivals are up to, and it seems that the owners of the SS New York and the SS France have come up with a solution to their tax problems.” Seb had caught the attention of the board. “The SS New York is no longer registered as being owned by an American company, despite the fact that its headquarters are still in Manhattan, along with the vast majority of its employees. For tax purposes, the company is registered in Panama. In fact, if you look carefully at this picture,” Seb placed a large photograph of the SS New York in the center of the table, “you will see a small Panamanian flag flying from the stern, despite the fact that the Stars and Stripes remain emblazoned on everything on board, from the plates in the dining rooms to the carpets in the staterooms.”
“And are the French doing the same thing?” asked Knowles.
