The ultimatum

Atlas Shrugged – Day 020 – pp. 194-203

Her ultimatum?

“I am going to complete the construction of the Rio Norte Line. I personally, not Taggart Transcontinental. I will take a leave of absence from the job of Vice President. I will for a company in my own name. Your Board will turn the Rio Norte Line over to me. I will act as my own contractor, I will get my own financing. I will take full charge and sole responsibility. I will complete the Line on time. After you have seen how the Rearden Metal rails can take it, I will transfer the line back to Taggart Transcontinental and I’ll return to my job. That is all.”

That’s ALL??? To undertake something like this would seem that she still has some trust in her brother. I’d wonder whether that’s a smart move at this point. Frankly, I’m not sure where he is in terms of his politics or relationships…

But he’s still covering his ass…

“And . . . if you fail?”
“If I fail, I’ll go down alone.”
“You understand that in such case, Taggart Transcontinental will not be able to help you in any way?”
“I understand.”
“You will not count on us.?”
“No”
“You will but all official connection with us. So that your activities will not reflect upon our reputation?”
“Yes”
“I think that we should agree that in case of failure or public scandal . . . your leave of absence will become permanent . . . that is, you will not expect to return to the post of vice-president.”
She closed her eyes for a moment. “All right, Jim. In such case, I will not return.”

For a guy in no position to negotiate, he’s doing a helluva job!

“Before we transfer the Rio Norte Line to you, we must have a written agreement that you will transfer it back to us, along with your other controlling interest at cost, in case the Line becomes successful. Otherwise you might try to squeeze us for a windfall profit, since we need that Line.”
There was only a brief stab of shock in her eyes, then she said indifferently, the words sounding as if she were tossing alms, “By all means, Jim. Have that stated in writing.”

Jim is really pretty stupid (I think.) He doesn’t seem to get it that if Dagny fails, TT is up shit creek anyway… Unless he’s working something on the other side

And here comes the interesting twist…

“What are you going to call it?”
She turned startled,. “What?”
“What are you going to call you company?”
“Oh . . . Why the Dagny Taggart Line I guess.”
“But . . . do you thin that’s wise? It might be misunderstood. The Taggart might be take it as…”
“Well what do you want me to call it?” she snapped, worn down the anger. “The Miss Nobody? The Madam X? The John Galt?” She stopped. She smiled suddenly, a cold, bright, dangerous smile. “That’s what I’m going to call it: The John Galt line.”

Touche!

Cut to her office where Francisco in sitting in front of her desk. Dagny is raising funds. She needs $15 million. She has raised $7 million against her own stock and now wants to issue bonds in the amount of $8 million. She wants Francisco to buy them.

He already knows what she wants. And he has already decided to refuse. His character is becoming more and more mysterious.

Dagny lays it all out. She’s begging him…

“Judging by every objective fact, the Rio Norte Line is to be the best railroad in the country. Judging by every known standard, it is the best investment possible. And that is what damns me. I cannot raise money by offering people a good business venture: the fact that it’s good, makes people reject it.”

She can’t understand that. She can’t understand him. He’s got a bit of ominous sounding advice for her.

“I’ll give you a hint. contradictions do not exist. Whenever you think that you are facing a contradiction, check your premises. You will find that one of them is wrong.”

Huh. ?????

Dagny’s probably as frustrated as I am at the moment. She says Francisco has chosen sides with Orren Boyle, Bertram Scudder and Dr. Stadler…

“My old teacher? . . . He’s the looter who thinks that his end justifies his seizure of my means.” He added,  “You know, Dagny, I’d like you to remember which side you said I’m on. Someday, I’ll remind you of it and ask you whether you’ll want to repeat it.”

So what is your new venture to be called?

The John Galt line…

“Dagny, I wouldn’t if I were you.”
“Jim didn’t like it either”
“What do you like about it?”
“I hate it! I hate the doom you’re all waiting for, the giving up, and that senseless question that always sounds like a cry for help. I’m sick of hearing pleas for John Galt. I’m going to fight him.”
He said quietly “You are.”
“I’m going to build a railroad line for him. Let him come and claim it.”
He smiled sadly and nodded: “He will.”

Cue spooky, ominous music . . .

Ok now she’s at Rearden’s office finalizing the purchase of materials for the Rearden Metal bridge. Seems that she’s got her financing from somewhere…

Who are the bond holders of the John Galt Line?

Ellis Wyatt, Ted Nielsen, Andrew Stockton, Lawrence Hammond… All the successful industrialists from Colorado.

And one more signature. Hank Rearden’s in for a cool million…

Things are starting to look up . . .