"We can meet normal payroll this week if the operating bank processes the standing instructions," she said. "But the revolving facility restrictions have delayed supplier payments, and we have too much inventory sitting in the wrong places. If the bank continues reviewing signatory authority for another week, production interruptions become unavoidable."
"How much liquidity do we need?" Otis asked.
"About four and a half million dollars in accessible working capital would stabilize the next thirty days, assuming we don't lose a major customer. That's not the same as solving the underlying problems."
Otis studied the figures. "And the four hundred positions?"
Grace lowered her eyes. "Cutting them might improve one quarter's payroll calculation, but Denise's report suggests it would also reduce output and create contractual penalties. I don't think the proposed restructuring is financially defensible as written."
Eleanor leaned back. "Then we need a better plan. One the lenders can underwrite."
They spent six hours examining receivables, customer contracts, overdue orders, inventory that could be sold, and expenses that could be deferred without putting workers at risk. Grace did not pretend the situation was simple. Some product lines were less profitable than they should have been, and the company had allowed overhead costs to expand during years when revenue growth concealed the problem. Otis listened to every unpleasant fact. She had come to protect the workers, but protecting them required understanding how the company paid them.
At two in the afternoon, Otis asked Grace to show her the consulting budget. Grace highlighted a column of payments that Jake Wilson had already questioned. The amounts were too large and the descriptions too vague to ignore, but no one present could yet say exactly where the money had gone. The committee formally authorized independent forensic accountants to trace the payments through corporate and vendor records. Outside counsel issued preservation notices and contacted regulators concerning possible misuse of funds.
"I should have asked about these earlier," Otis said.
Grace looked surprised. "You were working in facilities. You didn't have the reports."
"I had the right to ask for them. I let myself believe other people were using their authority responsibly. That was my mistake."
Later that afternoon, Otis walked through the production building with a notebook while supervisors described what they needed to fulfill the next month's contracts. The list contained ordinary necessities: replacement seals, overtime limits that protected exhausted workers, revised inspection schedules, and permission to fill vacancies that had been held open to make staffing figures appear leaner. None of it would impress a magazine photographer. Every item mattered to somebody on the floor.
She found Maya checking the wiring on a control assembly under a senior technician's supervision. Maya looked up and tried to stand, but Otis waved her back to the work. "Did they fix your class schedule?" Otis asked.
"Not yet. HR said my transfer request is on hold."
"I'll ask for it to be reviewed without favoritism. Your supervisor should explain why the shift can't be adjusted, and you should have a chance to respond."
Maya grinned. "You're really going to do that?"
"I said I would. If I don't, ask me why."