Lawrence Garfield doesn't really have to say that he loves
money; it's obvious from the sparkle in his eyes when he
talks about accumulating big piles of it, particularly other
people's money. Proprietor of one of the largest and
most powerful securities firms on Wall Street, Garfield is
one of the most successful players in the 'game of
capitalism' in America. He makes his money through
leveraged buyouts of undervalued companies. Companies
he takes over, shuts down, breaks up, and sells the pieces
to the highest bidder. "Larry the Liquidator" is a
well-earned nickname.
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Larry's latest project involves the takeover of New England Wire and Cable, a second-generation
family firm that has fallen on hard times. The company
has a treasure trove of real assets, a pension fund brimming
with cash, and best of all in Larry's eyes absolutely no
debt. Larry's plan is to raid the company, strip the
assets, and sell off the unprofitable divisions. In
exchange for a sizable 'golden parachute' of severance pay,
Garfield has arranged for the clandestine support of the
company's CEO, Bill Coles. Unfortunately, the Chairman
of the Board, an old-fashioned stalwart named Andrew
Jorgenson, wants to continue making wire and cable. "Jorgy"
is intent on running an ethical business, and protecting the
jobs and livelihoods of his employees. He calls in
Kate Sullivan, a high-priced Manhattan attorney, to block
the hostile takeover. Garfield finds himself legally
stymied.
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The situation is immensely complicated
because Ms. Sullivan is Jorgenson's stepdaughter. She
is blonde, sleek, chic, and a foot taller than Garfield; she
also knows how to push all of Larry's buttons. From
the moment she walks into his office determined to defeat
him and save the company, he knows he is in love. He
also knows he wants to win, and Kate is the only obstacle
that stands between him and the acquisition of New England
Wire and Cable and the millions of dollars it could bring
him. On the other hand, Garfield is a smart man and
immensely likeable--even when he is trying to strip-mine the
family firm. Kate finds him intriguing, but is
committed to besting him in the struggle for the company.
The plot becomes a struggle between love and greed, two of
the strongest motivations known to humankind.
BY ROGER EBERT / October 18, 1991
