shook his hand anyway. “A real pleasure, Ms. Pilecki.”
“For me as well, Mr. Gage.”
“Please, both of you, have a seat.”
Gage waved at the two leather club chairs in front of his Danish-minimalist desk. “Can I get you anything to drink? Coffee? Tea? Something stronger?”
“We’re fine, thanks.”
“So, according to my appointment book, I understand you’re looking at investment opportunities here in Poland. How can I help?”
“I know you’ve been on the ground here for a while. I just wanted your CliffsNotes on the lay of the land.”
“Mine? My God, you’re with Hendley Associates. That’s one of the best financial firms around. Why would you need my advice? How’s Gerry, by the way?”
“He’s great. Still the sharpest knife in the drawer. And thanks for the compliment, but we’re not in Poland, and Google is a poor substitute for hands-on experience.”
“Well, my first advice would be to meet with my personal banker, Stanislaus Zbyszko.” A thin smile creased Gage’s mouth. “But then, you’ve already met him, haven’t you?”
Jack didn’t pretend to be surprised. They both knew that Zbyszko had reached out to one of his most important American clients regarding his visit, especially after Jack flashed the $10 million letter of intent.
“Very nice guy, but a little short on details. He suggested real estate, generally.”
“I agree. They’re not making any more land, are they?”
Just assholes, Jack thought. “Real estate is a great investment, but not very liquid, and the European situation is, well, how to put it? Fluid. We were hoping for something with a little more flexibility, in case things went sideways.”
Gage waved a dismissive hand. “Europe is a real mixed bag these days. A few productive nations like Germany are subsidizing the shirkers, like the Greeks. I think the euro is doomed, and when it collapses, chaos will follow. Might be some interesting opportunities then.”
“You picked Poland. Why?”
“We liked the idea that they kept their own currency, which is good for us because the zloty is very weak against the dollar. And the government is very pro-business.”
“Sounds ideal.”
“Well, we’ve put a few chits down. Nothing spectacular has happened, to be honest with you.”
“Transportation bets, right? Trucking. Shipping.”
“That’s right. You met Stapinsky. Quite a character, isn’t he?”
“Nice fellow, if you like your cookies in a plastic wrapper.”
Gage laughed. “He’s a cheap bastard, for sure—pardon my French, Ms. Pilecki—but he’s a smart one, too.”
“So, if you don’t mind my asking, what’s your overall goal?”
“We wanted to start slow. A distribution warehouse in Warsaw—Stapinsky’s, the one you visited—and one in Gdańsk. We thought we’d start with setting up a regional distribution base and then expand into manufacturing. But the Chinese and the Germans are crowding everybody out around here.”
“Looks like there’s a heck of a building boom going on.”
“We were a day late and a dollar short in this market. Prices are out of line now, according to our valuation metrics. If I were starting over today, I’d think about Portugal. A lot of bargains over there right now, especially in real estate. Buy low, sell high, right?”
“Aren’t the Chinese moving there, too? I just read something about Portugal wanting to get on board with the BRI.”
“Yeah, but it’s still early. Strike while the iron is hot is my advice. The best deals to be had in Poland have already been struck.”
“Hu Peng is your partner here at BGS, right?”
“You have done your research.”
“What’s his background?”
Jack kept pushing the questions, trying to rattle Gage. But Gage was playing it very cool.
“He comes from banking. I wish he was here. He’s the big-picture man. I’m just the smile-and-dial guy.”
“I’d say you’re more than that. You’ve built up a great portfolio for yourself, and for your dad’s company as well.”
“Thanks. I try.”
“I was thinking that maybe we could come up with some kind of partnership. Your expertise, our cash.”
“Zbyszko said you had some serious money in your wallet. Thirty million?”
“Well, that’s what the letter of intent says.” Jack leaned slightly forward and winked. “Between you and me? Gerry will double that if the deal’s right.”
Gage made a long face, nodded. “Wow. Impressive.”
“You know Gerry. He’s a serious man,” Jack added. “A good man to be in business with.”
“He must have a lot of faith in you to give you that kind of walking-around money.”
“Thanks. I try,” Jack said. “So, interested?”
Gage rubbed his face. The money clearly tempted him. But something was holding him back.
“Man, I wish you would have come to me six months ago. Right now, we’re tied up in several contracts that don’t give