Library of the Dead by Glenn Cooper

Author:Glenn Cooper
Language: eng
Format: mobi, epub
Publisher: Harper
Published: 0100-12-31T22:00:00+00:00

JUNE 28, 2009

LAS VEGAS

The call from Peter Benedict rattled Elder. It was deeply unsettling to receive an offer to help Desert Life from a man he had met once in a casino. And he was almost certain he hadn't given out his mobile number. Add to that the FBI's sudden interest in him and his company, and this was shaping up to be a worrisome weekend. During times of trouble he preferred to be in his headquarters with his people surrounding him, a general among his troops. He thought nothing of pulling in his executive team during a crisis to work on Saturdays and Sundays but needed to deal with this situation alone. Even Bert Myers, his confidant and consigliore, would have to be blacked-out until he knew what he was dealing with.

Only he and Myers knew the extent of Desert Life's problems because the two of them were the sole architects of a scheme to get the company out of its financial hole. Undoubtedly, the correct adjective to describe the scheme was "fraudulent," but Elder preferred to think of it as "aggressive." The plan was in its early stages, but unfortunately it wasn't working yet. In fact, it was backfiring and the hole was getting deeper. In desperation, they had decided to shift some cash from their reserves to artificially boost profits for the last quarter and shore up the stock price.

Dangerous ground, the path to Hell, or at least prison.

They knew it, but in for a penny, in for a pound. And God willing, Elder thought, things would turn around in the next quarter. It had to. He had built this company with his own two hands. It was his life's work and his one true love. It meant more to him than his arid country club wife or his dissolute offspring and it had to be saved, so if this Peter Benedict character had a viable idea, then he was obligated to hear it.

The backbone of Desert Life's business was life insurance. The company was the largest underwriter of life insurance policies west of the Mississippi. Elder had cut his teeth in the business as a life insurance man. The steady actuarial predictability of forecasting death rates had always attracted him. If you tried to predict an individual's time of death and put money on it, you'd be wrong too often to make a consistent profit. To get around trying to figure out an individual's risk, insurers relied instead on the "law of large numbers" and employed armies of actuaries and statisticians to conduct analyses on past performance to help predict the future. While no one could calculate what premium you'd have to charge one individual to make money, you could predict with confidence the economics of insuring, say, thirty-five-year-old male nonsmokers with negative drug screens and a family history of heart disease.

Still, profit margins were tight. For every dollar Desert Life took in as premiums, thirty cents went to expenses, most went to cover losses, and the little left over was profit.

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