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The Bold & The Beautiful Tuesday 1/22/02 By Linda Ridge: Thanks, Megan. Megan: Sure. Ridge: All right, I think we're set here. Everybody's got a copy of the agenda, all the reports, tax tables and the minutes from the last meeting. Taylor: You think you might be one set short? Ridge: No. We got 'em all. Taylor: Well, there's enough for the board members, but what about Rick? Ridge: What about him? Taylor: What if he decides to show up? Ridge: Doc, after what happened last time, I don't think so. Taylor: Well, maybe he's been able to prepare this time. Ridge: Not this time. I have a feeling Rick's been in a panic ever since he got a copy of this agenda right here. There's no way he's gonna crash this meeting. He wouldn't dare. *********************************************************************** Massimo: No, no, no! You are not listening. Rick: I am. I just don't get it. Massimo: You have to focus, Rick. We are running out of time here. This meeting happens in less than an hour. Rick: Okay. Forrester international is based in Paris. Are we talking francs or the euro dollar? Massimo: Forget about the currency exchange rate, okay? We are talking taxes now. All right? Whether it is the franc or the euro, the money is subject to the local taxes of that country. Then, when the money is sent to California, it is taxed again by the IRS. And the state. Rick: But we still have to pay taxes? Massimo: Yes, you do. In Europe, there is no reason for international to send its profits to the states. The money that is generated in France should stay in France and be reinvested there. Rick: Well, that's good. That totally makes sense. Okay. All right. But what about the profits that we generate here? 'Cause we do most of our business in L.A. Massimo: Um-hmm. But you do have other bases of operation. Rick: Yeah, we've got department store outlets in the Midwest. We have boutiques in New York and San Francisco. Massimo: And Las Vegas. Rick: Well, yeah, we just opened one there last year. Massimo: Has anyone ever thought of making Forrester a Nevada-based corporation? Rick: You mean, move the whole company to Las Vegas? Massimo: Oh, no. You could keep the design department here. The Las Vegas office would handle the financial operations. Rick: Why? Massimo: Why? Nevada does not have a state income tax. So, if you report your domestic earnings there, you keep the 9.3% that you would have given the state of California. Rick: 9.3% -- that's -- that's a net increase of $2 million or $3 million a year. Massimo: Now you are starting to get it. Rick: Oh, yeah. Yeah. This stuff is really interesting, Mr. Marone. I can't believe nobody's thought of it before. Massimo: Well, obviously, it's time for some new ideas and some new blood at Forrester Creations. ********************************************************************************* Bridget: Amber, are you sure this isn't a bad time? Amber: No. I am glad that you're here. Bridget: Is everything okay? You seem kind of distracted. Amber: I'm worried about Rick. Bridget: Oh, yeah, that's right. Today's the big meeting. Amber: It's not just that. What do you know about Massimo Marone? Bridget: Uh, well, I'm sure you know what he did to our mother. Luring her to Paris. Paying off our grandfather. I mean, as far as I know, the guy's a monster. Amber: That's what I'm worried about. Rick went to see him today. Bridget: Why? Amber: I don't know. The note just said that it's urgent. Look, Rick found this in his briefcase. Bridget: Rick went to Massimo's office? Amber: Mm-hmm, and he left hours ago. I've been trying to call him on his cell phone, and he's not answering. Bridget: Man, this is not good. Massimo is trouble. Amber: Yeah. I just have to wonder what he wants with Rick. I mean, what is he really after? Bridget: Amber, Rick wouldn't have gone over there if he thought Massimo was dangerous. Amber: Well, he's trying to protect your mother. Bridget: He thinks Massimo is up to his old tricks? Amber: Well, that's what he's going to find out. Bridget: That doesn't make any sense. I mean, all that stuff that happened with my mom -- that's history. Amber: Why else would Massimo want to see him? Oh, no, I should never have let Rick go over there. He should be studying for his board meeting. Bridget: How's that coming? Amber: Rick might not go. Bridget: Why not? Amber: Well, because Ridge sent over this agenda, and it's a set-up. He knows that Rick doesn't know about any of this stuff. And if Rick shows up at that board meeting, then ridge is going to totally humiliate him. ***************************************************************************************** Taylor: Ridge, I'm just saying I think you should take it easy on your brother. Ridge: Rick had to realize who's in charge here, doc. [ Knock at door ] Chuck: Ridge? Ridge: Hey, chuck. Come on in. Chuck: Megan said I could find you here. Hello, Taylor. Taylor: Hi, Chuck. This is a surprise. What brings you by? Chuck: Well, Ridge asked me to sit in on your meeting. He thinks that Forrester could use my input. Ridge: Sharpest financial brain in the business. Taylor: Oh. Well, then I'll get you a copy of the agenda. Chuck: Oh, I've got one. And from what I've seen, looks like you're dealing with some pretty heavy topics today. Ridge: Yeah. Well, it's like I said on the phone. Forrester's going through a critical transition right now. We've got to really pare down and focus. I want to make sure that nothing can trip us up or slow us down. Nothing or no one. ********************************************************************************************************* Massimo: All right. That takes care of taxes and currencies, huh? Now, what's next on the agenda? Rick: Corporate jet operations. Massimo: All right. Forrester owns a plane? Rick: Um, I don't know if it's paid off yet. Massimo: But it is registered to Forrester creations? I mean, the pilot, the crew, they're all Forrester employees. Rick: Right. Massimo: No, Rick. Not right. It is a horrible mistake. What do you think would happen, let's say if, god forbid, the plane were to crash? Rick: Well, I don't even want to think about it. Massimo: Yeah. No one would like to think about it. That's probably the reason it's set up the way it is. But, a smart businessman would be prepared for the worst case scenario. And the way this thing is set up here, the worst case scenario would totally destroy Forrester creations. Huh? Let's say in the event of a crash, that the plane was carrying someone who is not a Forrester employee, which, from what I have heard, happens a lot. You would be wide open for a lawsuit. Suits so gigantic that your insurance companies couldn't cover them. You see, by directly owning the plane, Forrester can be held liable. Huh? Now, you could lose everything -- everything, Rick. I've seen it happen. Rick: Well, what can we do? Can we buy more insurance? Massimo: No, no, no, no. You have to eliminate the liability. Now, listen to me, and listen to me very carefully. When you go into that meeting, I want you to ask the board to establish an LLC. -- Write it down. Rick: Right, right, an LLC. I've heard of that. Massimo: Uh-huh. It's a limited liability corporation. They take over the ownership and operation of the plane. Rick: Separating it from Forrester Creations, protecting the company and all of it's assets. Massimo: Precisely. Rick: Look, Mr. Marone, I still don't understand why you're doing all this for me. Massimo: Because I want you to be prepared when you go into that meeting. Rick: Oh, god, the meeting -- it's about to start. Massimo: Okay. Rick: I've got to go. Massimo: All right. One more thing. And, Rick, I have to have your word on this. This is our secret. You can't tell anyone, you understand? No one must know what we are doing. Rick: You have my word. I promise. I just hope this works. [ Door closes ] Massimo: So do I, Rick. For Ridge's sake, so do I. ******************************************************************************************* Chuck: Any transfer of power within a corporation will cause some difficulties. But in a case like this, they should all be manageable. Ridge: Well, they should be. But some problems are more difficult than others. Chuck: Well, I thought Brooke made her intentions clear. Ridge: She did, when she made me a CEO. Chuck: And the board ratified her decision? Ridge: Unanimously. Chuck: Well, then I don't see any reason for concern. Taylor: You know, Ridge cut the -- Brooke's bedroom line. Chuck: Yes, I read about that. It's a very bold move. Ridge: Yeah, I wish everyone felt that way. Chuck: You mentioned something about Brooke's son. He doesn't agree with your decision? Taylor: Actually, he's furious. He feels like Rridge is trying to destroy his mother's legacy. Ridge: He's acting like a spoiled brat. He thinks a couple years of business school should make him an expert on international finance. At least that's what he felt when he barged into the meeting last time. He was singing quite a different tune when he limped out. Chuck: What happened? Ridge: I taught him a lesson. And if he didn't learn it last time, you and I are going to make sure he learns it this time. Chuck: You want me to target the kid with questions? Ridge: Chuck, I want you to hit him right between the eyes. If he shows up for this meeting, humiliate him so badly that he never comes within a mile of this boardroom ever again. Can I count on you? Chuck: You know where my loyalties are. Stephanie: Well, here we are. Eric: Am I allowed back in my office? Ridge: Yeah. Come on in. We're all set up. Thorne: Hi, chuck. Chuck: Hey, Thorne. Mr. And Mrs.. Forrester, how are you? Stephanie: Fine, chuck. Thanks. Eric: It's good to see you. I'm glad you're here, actually. I want you to meet my youngest son. He's gonna be very impressed to meet you. Chuck: Really? Ridge: Oh, don't be so modest, Chuck. You're a financial legend around here. I'm sure little Rick has read about your telecom merger in his textbooks, but I don't think you're gonna really see Rick today. Eric: Ridge gave him a hard time at the last meeting. But I think he's still gonna show up. Ridge: Well, if he does, I'm sure Chuck here will give him quite the education. ************************************************************************************ Bridget: You think Ridge did this on purpose? Amber: Absolutely. He's trying to scare Rick off. Bridget: Why? Amber: So he can do what he wants with the company. With your mother out of the way, no one's going to argue with him. No one's going to question his decisions. Bridget: What about dad? He started this business. He won't let him jeopardize it. Amber: Bridget, your father is in Ridge's camp. He's behind him all the way. Don't you get it? They're trying to cut us out. We're nothing to them. And the only thing standing in their way is Rick. He's determined to fight them. But if Rick falls flat on his face at that board meeting, we're done. Ridge has absolute power, and no one's gonna stop him. [ Phone ringing ] Hello? Rick: Amber, it's me. Amber: Rick! Oh, my god! Where have you been? I've been calling you. Rick: I know, I'm sorry. I left my cell phone in the car. I've been with Massimo this whole time. Amber: All this time? You've been gone for hours. Rick: I know. I'm sorry, it's late. But I'm on my way to the meeting right now. Amber: But all your notes are here and -- Rick: I don't need them. Massimo told me everything that I need to know. Amber: What? Rick: We went through the entire agenda together. Amber: I just don't understand -- Rick: Amber, I don't understand either. But Massimo wants to be my mentor. And he doesn't want anybody to know about it. Trust me. Don't ask me any questions, okay? But I've never been more prepared for a meeting in my life. And it's all because of Massimo. Amber: Rick, I don't like this. I mean, can we trust this guy? Rick: We don't really have a choice. Amber: What if he's double-crossing us? Rick: Then I'll break his neck. I'll call you after the meeting. Bridget: What's going on? Amber: I don't know. But if Massimo's involved, it can't be good. ************************************************************************************** Heidi: Mass? Were you expecting a delivery? This just arrived for you. Massimo: Ah, yes. Yes, yes, yes, yes, yes. Heidi: It's from the Forrester photo lab. Massimo: Thank you. Heidi: So what would you want from the Forrester photo lab? Massimo: Shh, shh. No questions, Heidi. I have a friend there. Heidi: You've got friends everywhere. So what is it? Massimo: No. Heidi, this is personal. Yes. Yes. What a beautiful picture. It's perfect. Right now, this family is apart. But someday, we'll be joined together. Someday. When the Forrester creations lets you down, Ridge, when they disappoint you, I'll be there for you. I'll be ready to give you the future that you deserve. And you will accept it. You will accept me. And maybe -- just maybe -- your mother will, too. Someday. Someday, if Rick Forrester just does what I tell him. That day will come much, much sooner. ************************************************************************************* Chuck: Oh, I've been keeping up with it in the news. The whole industry is buzzing about Ridge's unexpected ascent to the throne. Stephanie: Well, it's something that we've wanted for a long time. Eric: Since we started this company, we've dreamed of the day when one of our kids would take over. Chuck: Ridge tells me that not all of your kids are happy about that. Thorne: Well, Rick will come around. Taylor: Well, he's a little headstrong. You know that age. You know what you were like when you were that age. Chuck; oh, man, do I? I just wish I knew now, everything I thought I knew then. [ All laughing ] Ridge: All right, everyone, let's take our seats, and we'll get started. Chuck: Sure. Ridge: If you take a look at your hymnal, we'll sing a few songs from the agenda. Eric: What about Kristen? Aren't we going to wait for Kristen? Thorne: She can't make it, dad. But she gave me her proxy. Ridge: All right, I know everyone's busy. We've got a lot to go over here. So let's get to it and we won't take all day. Let's go to the first item on the agenda. Rick: Whew! Just in time. Ridge: Sorry, Rick, the meeting's already started. Rick: Already? Well, the meeting's not scheduled to start for a few minutes, Ridge. I still have time to get some coffee. Eric: Rick, I'm glad you're here. There's somebody I want you to meet. Chuck Williams. Chuck, this is my son, Rick. Rick: Yes, Chuck Williams. I've heard a lot about you, and I'm looking forward to hearing what you have to say. Chuck: Thank you. Eric: Well, I'm going to get some coffee. Ridge: That little punk actually had the nerve to show up. Well, when we're through with him, he'll wish he hadn't. Little Ricky wants to hear what you have to say. So, fine. Let's let him have it.
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