“I understand the board’s unease with the amount of money allocated to the Soho project. Of Hayward’s holdings, this building represents a relatively small annual income. However, this small income has been steady. Over the last ten years, this complex has needed—or I should say received—little or no maintenance. You know, of course, from the quarterly reports just how much this property has increased in value in this space of time. I believe, from a purely practical standpoint, that the money I allocated is insurance to protect our investment.”

She wanted to stop, to pick up her glass and drain it, but knew the gesture would make her seem as nervous as she was.

“In addition, I believe Hayward has a moral, an ethical and a legal obligation to insure that our tenants receive safe and decent housing.”

“That property could have been made safe and decent for half of the money budgeted,” Lloyd put in.

Sydney barely glanced at him. “You’re quite right. I believe my grandfather wanted more than the minimum required for Hayward. He wanted it to be the best, the finest. I know I do. I won’t stand here and quote you figures. They’re in your folders and can be discussed at length in a few moments. Yes, the budget for the Soho project is high, and so are Hayward standards.”

“Sydney.” Howard Keller, one of her grandfather’s oldest associates spoke gently. “None of us here doubt your motives or your enthusiasm. Your judgment, however, in this, and in the Wolburg matter, is something we must consider. The publicity over the past few days has been extremely detrimental. Hayward stock is down a full three percent. That’s in addition to the drop we suffered when you took your position as head of the company. Our stockholders are, understandably, concerned.”

“The Wolburg matter,” Sydney said with steel in her voice, “is an eighty-year-old woman with a fractured hip. She fell because the floor in her kitchen, a floor we neglected to replace, was unsafe.”

“It’s precisely that kind of reckless statement that will open Hayward up to a major lawsuit,” Lloyd put in. He kept his tone the quiet sound of calm reason. “Isn’t it the function of insurance investigators and legal to come to a decision on this, after a careful, thoughtful overview of the situation? We can’t run our company on emotion and impulse. Miss Hayward’s heart might have been touched by the Wolburg matter, but there are procedures, channels to be used. Now that the press has jumped on this—”

“Yes,” she broke in. “It’s very interesting how quickly the press learned about the accident. It’s hard to believe that only days after an unknown, unimportant old lady falls in her downtown apartment, the press is slapping Hayward in the headlines.”

“I would imagine she called them herself,” Lloyd said.

Her smile was icy. “Would you?”