Bel-Air Dead Read Free Page A

just about the biggest racing farm in the country, isn’t it?”
    “The biggest outside Kentucky, anyway. The owner, Rex Champion, who’s a friend of mine, is getting on in years and is ready to sell. Horse farms are down in price right now, along with everything else, and this is a wonderful opportunity.”
    “How much?”
    “I got him down to fifty million dollars.”
    Stone was struck dumb.
    “Hello? Are you still there?”
    “I’m still here; I’m just stunned.”
    “My financial adviser says it’s worth sixty million, and that’s what he was asking, but I got him down to fifty. I can’t sell stocks right now, what with the market being the way it is, and my biggest asset is Centurion. This buyer has come along at just the right time.”
    “And that’s all you can sell to raise the fifty million?”
    “I’m afraid so. Oh, I’m sentimental about the studio, Stone, but I’ve always wanted to be in racing.”
    “I thought your only interest in horses was hunting and dressage.”
    “Those things cost money; racing horses makes money.”
    “Arrington, you’re not a businesswoman, and that’s a big business.”
    “The beauty of it is that I get the whole thing intact, with a staff, a board of directors, and all the real estate and stock. In a better year, it would cost seventy-five million!”
    “Arrington, let me look into all this. I’m having dinner with Rick Barron tonight, and I want to hear what he has to say, and I can look into Virginia Champion for you, too.”
    “Oh, all right, but I’m not going to change my mind about this, Stone. Remember, you’re working for me, not yourself.”
    “I’ll speak with you in a day or two,” Stone said, and hung up.

4
    Stone got dressed and called Bill Eggers. Eggers was the managing director of the law firm to which Stone was of counsel—meaning he handled the cases the firm did not wish to be seen to handle. This association gave him advice and backup when he needed it, and he needed it now.
    Eggers came on the line. “Morning, Stone; what can I do you for?”
    “You can do me some advice, Bill, and some other help.”
    “What have you got yourself into now?”
    “Two very large business deals,” Stone replied.
    “That’s a little out of your line, isn’t it?”
    “Bill, why do you think I’m calling you?”
    “Oh, all right; what do you need?”
    “I need these two deals looked at objectively,” Stone said. “The first is the possible sale of Centurion Studios to some real estate developer. I know you have the contacts out here to put an ear to the ground. I want to know what’s being said about the deal.”
    “I can do that; what’s the other one?”
    “Arrington Calder wants to buy Virginia Champion Farms for fifty million dollars. You know the company?”
    “I do, and I know Rex Champion. He’s a gentleman, but with a sharp edge.”
    “I want to know what the farms are worth in today’s dollars—land, horses, other assets—and I want to know about the quality of the current management, and see the profit-and-loss statements for the past ten years or so.”
    “To find out all that I’m going to have to send a business appraiser outfit down there to rake the books and talk to the people. We can’t do this surreptitiously.”
    “Of course not.”
    “And Arrington is going to pay for the assessment?”
    “She will.”
    “I need a direct statement from her about that, not your opinion of what she’ll do. This is going to cost in the low six figures and take a couple of weeks.”
    “I’ll get her permission today.”
    “I’ll make the call as soon as I hear from you. In the meantime, I’ll make some calls about the Centurion deal. Are you in L.A.?”
    “Yes, I’m here to vote Arrington’s shares in Centurion.”
    “Okay. See you.” Eggers hung up.
    Stone called Arrington. “We have to send somebody to Virginia Champion to look the company over.”
    “Why? I trust Rex Champion.”
    “This is just due