Kevin Tawil

So in that time period, the first two years...

And he sees what's going on.

He reads the decks.

He sees us overperforming on revenue and underperforming on margin.

And he paused during the board meeting and says something to the effect of, so Jim and Kevin, do I have this right?

Feels like you're overperforming on all the uncontrollable items and underperforming on all the controllable items.

I don't think there's any response needed for that.

Got it.

Message received.

That will never be forgotten and will be retold again and again.

Going back to CUC, we had an offer from the CUC who were high fighters at that time.

I don't think they had merged with HFS at that point in time, but this was before the principles of CUC all went to jail.

It was sort of incredible.

Was that 15 times it would have been in two years?

And we were proud is the way to describe it.

It's like, wow, this is real.

Somebody will actually pay a lot of money for this.

It was more of a LOI offering.

They hadn't gone into diligence.

And so we don't know if they really would have paid that.