Peggy was very excited about her very first business trip, even if it wasn’t to Paris. It was also her first time on an airplane, I believe she said.
That scene was to show that her business trip was in no way glamorous, with her not only staying at a lower-end hotel, but also being stuck on the ground floor w/ two dogs fucking outside her window.
And even with all of that “non glamour” around her, she still was quite happy to be there.
I think it’s foreshadowing. In the last story arc, Peggy and Don will at last get together* and Peggy will get pregnant. In the last scene of the last episode, Don will ask her what she wants to name their child, and she’ll reply, “Well, remember when I went on my first work trip?”
Re: Joan and expanding space.
IIRC, it was Joan that suggested tabling talk about more space at the partners’ meeting. She had been intending on checking on the higher floor (until Harry came along) to prep for the partners’ meeting. Running the office is part of her job. It wasn’t until her talk with Don that she apparently decided that she could deal with it and had a positive attitude.
I thought it was interesting that Lane’s wife got exactly $50,000 back, the amount invested. It seems to me that she should get whatever the value of his share is, not the amount he put in. Now, if the value of his share is less than $50,000 then I suppose this can be a good will gesture, but if it is worth more than that I would think they owe her the full amount.
Presumably. he’d have gotten a larger share had he hung around a bit longer.
Well, since his insurance policy was for $150,000 (IIRC), that means there’s an additional $100K, and as his share of the company was 12.5% that means that she should be owed at least $12,500 more.
The insurance policy was to cover Lane’s value to the company. They are under no obligation to provide any of it to his wife - the point of the policy is to compensate the company for the “damage” they suffered as a result of his death.
The amount of money she is entitled to, if anything, depends solely how the share of a deceased partner is treated under the partnership agreement. It would be unusual for a partnership agreement to require the company to “buy out” the share of a deceased partner. It is possible that she now holds a 12.5% non-voting interest in SCDP, that she can sell if she wishes, and will allow her to participate in any future distributions of the company profits to partners - but I don’t think she can demand to be bought out.
People avoid putting clauses requiring a buyout in these sorts of agreements because it can cause problems for the company if someone dies and there are not funds available to actually execute the buyout.
Not sure I follow you here. The insurance policy was taken out by the firm, not the Pryces; SCDP was both owner & beneficiary, not Mrs. Pryce. I’m sure Lane had private life insurance, and Don was being more than generous in giving her anything.
ETA: Damn you, Absolute!
They didn’t deduct the amount that Lane embezzled–that Don covered. Nor did they tell her about his embezzlement. So she can continue to feel superior because of her British restraint.
Lane was beaten by his dreadful father into going to the UK to bring her back to the US, after she’d made a passive-aggressive separation. If she’d known about that tasteless financial stuff, she would not have bought the Jag–that helped drive him around the bend. Well, it would have driven him if he could have started it…
Don said that the company had 6 years to repay him/his estate, IIRC.
As an extreme example, if SDCP was worth a billion dollars then Lane’s wife would deserve more than $50,000. Of course it isn’t worth a billion, who knows what it is worth. Now it is not clear if the $50,000 was simply Don making a nice gesture and it is independent of Lane’s share, or what. He said something like they have six years to do something, but what exactly? And is it an issue that Don didn’t take it to the other partners? That $50,000 was the company’s money, and it was not a small amount either. It is just kind of confusing.
Yes. He was paying her back early because he understandably but incorrectly blames himself in part for Lane’s suicide.
Oh, I remember now, thank you Sampiro.
Lane owned 12.5% of SCDP. When they lost Lucky Strike, all the partners contributed capital according to their share in order to keep the company afloat. Lane contributed $50,000, and the resulting effect on his personal finances was what drove him to suicide in the first place.
SCDP had 6 years to repay all the partners for the capital contributions required by the loss of Lucky Strike. Don decided to repay Lane’s contribution in full immediately, rather than waiting 6 years (or 5 years at this point, or whatever) as he was legally allowed.
This still leaves the question of Lane’s 12.5% ownership of the company itself unresolved. This is certainly worth a lot more than $50,000 - but it also likely that the company is under no obligation to buy it out from Mrs. Pryce. Many partnership agreements simply change the ownership of deceased partners to a non-voting share, but this is by no means guaranteed, and Mrs. Pryce’s comment to Don suggests that she believes they do actually owe her something for it.
OK, that helps quite a bit.
Wouldn’t it be 11.875% now? Joan earned a five percent stake by making the beast with two backs, so I expect the other partners’ shares were all proportionately reduced.
She would receive $0 of the death benefit. They can use the death benefit to pay her what she is owed, but she isn’t entitled to a percentage of it.
Yeah, likely so.
Now the other question, is there any potential issue with Don unilaterally deciding to pay back the widow?
Why? The money was legitimately owed to her and Don ran it by Joan, who is running the books. I doubt that anyone would really want to make the Widow Pryce wait five more years.
I don’t believe anyone will complain. Roger & Bert are rich enough apart from the fortune of the agency not to care. Pete, odious little twerp in need of daily asskickings administered by a girl not yet old enough to join Scouts to underscore the fact that even a Brownie can take him in a fistfight, may consider saying something, but then he’ll recall that he himself didn’t come up with the $50K he owed and that Don paid his share, so he’ll sulk and pout and go out and have sex with some hooker whom he’ll pay to call him Peter High King of Narnia. And Joan’s a mensch. Well, whatever the female equivalent is.