Documentation, accounting, credit assessment procedures and legalities were finally in place for the new Equipment Finance Department. They were ready for business.
Now it was up to James to make it work.
Katherine was on yet another of her many visits to Berlin. She and Jamie exchanged visits every month. ‘I wonder when they will get serious?’ Jeremy said to himself with a smile as he thought of his sister.
While Katherine was in Berlin, Erica and Jeremy took the opportunity to announce that they were expecting a child the following July. The Blackstone family was growing.
Erica caught Jamie surreptitiously looking at Katherine a lot. He was obviously thinking a great deal about something. What is on his mind? We all know that the two of them are in love. When is he going to pop the question?
Letter to President Roosevelt from Jamie.
Greetings Mr President
I don’t seem to have a lot of news for you this month. I sometimes think that Germany is entering a new, more settled phase. Perhaps my usefulness here is coming to an end, Sir. I have now been in Berlin for exactly two and a half years.
I was told yesterday that Italy will once again be making a formal application to join the European alliance early next year. From what I hear, they are making progress in improving the economy, but less impressive performance with their military, which is still too big and inefficient. I was in Italy last month and I noticed a definite measure of acceptance by the people that the government is at least trying, and that things are slowly coming right. I saw few traces of fascism.
A source within the German military has confirmed to me that their intelligence services report almost zero communist activity in Albania these days. I think this is due to a combination of firm police and military action, in conjunction with the increased benefits from investment in the country by the Italians.
As you are aware, after some prevarication on the part of the more conservative elements in Italy, it was finally decreed that Libya would be given independence. Talks are underway with the exiled Libyan King, Idris I. It is the Italian’s aim to withdraw most of their people over a three year period. As they amount to fewer than twenty percent of the population, they are bowing to the inevitable.
The Greeks have again quietly raised the question of them joining the Alliance. The German Foreign Minister assured them that there is a place for them — once corruption and nepotism in Greece are brought under control. Privately I think Baron von Altendorf believes the Greeks are incapable of meaningful change.
An incredible, almost frantic, effort is being put into the new Anglo-German airliner by the manufacturer, Focke-Wulf. They are worried that we Americans could monopolise world aircraft production in the future, and they see it as such a potentially huge industry. They want a part of it for themselves. I can’t say that I blame them.
Norway has finished re-writing its constitution. It is expected to release copies of it in a couple of months. Once I have read it, I will give you my thoughts.
James believed that he now knew as much as any other banker in England about the airline and aircraft industry. Over the past months he had read every publication he could get his hand on, and spoken with airline officials and aircraft manufacturers across the country. Now he just needed his first deal!
It was his sister who unknowingly provided him with the opportunity he was looking for. Katherine and her American boyfriend, Jamie, were in London for the weekend, and they invited James and Fiona to meet them for lunch. Fiona declined because of their young baby. Since becoming a mother she had changed. She doted on the child. She had matured and preferred to stay home more. She had even become less extravagant! James confirmed that he would love to meet them for lunch but he would be coming alone.
The venue was a pleasant Thames-side pub well known for its traditional fare and fine ales. They were midway through their meal before James started talking aircraft and airlines to Jamie. He had become almost obsessed with his work. When he paused for breath, Jamie innocently asked if he was working on any particular deal?
James stared into the distance for a moment, then leaned back into his seat and let out a drawn-out exaggerated sigh. “I am as ready as I could possibly be, Jamie. My bank is pushing me to sign deals. We have the money burning a hole in our vault. I have talked to everyone remotely concerned with aircraft in Britain. And — nothing….” He lapsed into silence. He was despondent. If he didn’t put a deal together soon he suspected the bank might let him go.
Without thinking, Jamie made an observation. “You know, James, that the workhorse of the German air force is the three engine Junkers JU52.” James nodded. He knew the aircraft.
Jamie continued. “The Luftwaffe took delivery of about two thousand of them for the war. With the unexpected quick ending to the war they now have many surplus planes.”
“I know.” James interrupted, “But even if a buyer were to be found for them, our bank is precluded from financing military equipment.”
“Fair enough. But that is not at all what I am suggesting. The pre-war civilian versions of these aircraft have been used by national airlines and small charter or cargo carriers for some years now. They have established a good reputation.
Why don’t you get yourself across to Germany and go see Junkers, and maybe the Aviation Minister. Perhaps Junkers would be interested in acquiring the surplus units from the Luftwaffe and refurbishing them to civilian standards. You could offer to finance the deal.”
James stared at him. Bloody hell. It was so simple! He had not heard even a whisper of anyone else in the industry coming close to something like this. It was bloody marvellous!
Katherine, amused, said, “Well say something, James.”
And say something he did. He was agitated. “Jamie, I don’t know to thank you. You have just hit me between the eyes with a corker of an idea. Look, I am so excited I cannot possibly finish my meal. Can I be terribly rude and leave? You have just given me a lot of work to do.”
Laughing, they both excused him. He swallowed the remains of his drink and literally ran out of the pub. Katherine was giggling uncontrollably. She had never seen her brother in such a state.
“I do hope I haven’t sent him off on a wild goose chase.” Jamie moaned. Then after a couple of seconds pause, “But he sure as hell is fired up.” He joined in the laughter.
James had studiously looked into all aspects of aircraft refurbishment. It wasn’t exactly commonplace at that time, but neither was it unknown. Only after a major war, such as the recent European War, would prime military aircraft, perhaps originally designed for civilian use, come onto the open market in quantity. He was facing a unique opportunity.
Two days after Jamie had put the idea in his head he decided to go to the top in Germany and seek the blessing of the Aviation Minister, Albert Kesselring, after which he would immediately meet with Junkers.