"I hear it just sold again," Sanders said.

"Oh yes? Who bought it?"

"Some California asshole."

Bainbridge slid to the stern. They looked out at the gray water of the Sound. The coffee steamed in the morning sunlight. "So," Benedict said. "You think maybe Garvin won't step down?"

"Nobody knows," Sanders said. "Bob built the company from nothing, fifteen years ago. When he started, he was selling knockoff modems from Korea. Back when nobody knew what a modem was. Now the company's got three buildings downtown, and big facilities in California, Texas, Ireland, and Malaysia. He builds fax modems the size of a dime, he markets fax and e-mail software, he's gone into CD-ROMs, and he's developed proprietary algorithms that should make him a leading provider in education markets for the next century. Bob's come a long way from some guy hustling three hundred baud modems. I don't know if he can give it up."

"Don't the terms of the merger require it?"

Sanders smiled. "If you know about a merger, Dave, you should tell me," he said. "Because I haven't heard anything." The truth was that Sanders didn't really know the terms of the impending merger. His work involved the development of CD-ROMs and electronic databases. Although these were areas vital to the future of the company-they were the main reason Conley-White was acquiring DigiComthey were essentially technical areas. And Sanders was essentially a technical manager. He was not informed about decisions at the highest levels.

For Sanders, there was some irony in this. In earlier years, when he was based in California, he had been closely involved in management decisions. But since coming to Seattle eight years ago, he had been more removed from the centers of power.

Benedict sipped his coffee. "Well, I hear Bob's definitely stepping down, and he's going to promote a woman as chairman."

Sanders said, "Who told you that?"

"He's already got a woman as CFO, doesn't he?"