Chapter 2

 

Adam Hampton II took control of Hampton Industries in 1969 at the age of twenty-nine, when his father committed suicide. He operated the business for the next thirty-five years. Adam earned a reputation for being ruthless, cunning and dishonest in his business negotiations. His hard-heartedness spilled over to his personal life. His wife of thirty years divorced him for extreme mental cruelty. In 2004 he attempted a hostile takeover of Preston Industries, a major competitor, but was defeated by a last minute influx of proxies from private investors. For several months, he brooded over the loss until he had the opportunity to purchase several global businesses. Within a year he acquired, through hostile takeovers, a British couturier, Italian shoe designer and a French perfumery. Sales reached the two billion dollar mark and Adam Hampton II became the darling of the fashion world, appearing on the cover of numerous fashion magazines and on radio and TV talk shows. His life took on a whole new meaning, but it was the media frenzy that would eventually lead to his ruin, as Adam became so caught up in the glamour that he spent most of his time traveling and entertaining on his new toy, a one hundred and five foot Mangusta motor yacht. He had not been to his office for over nine months, preferring to operate from home or some exotic resort using the phone and fax.

The high life took its toll on Adam. Almost overnight he lost his zest and began to have periods of anxiety bordering on hysteria. Doctors were completely baffled by his rapid mental deterioration, but after three months of this behavior they unanimously declared him incompetent to conduct his business affairs. His son, Adam Hampton III immediately petitioned the courts and after the hearing, control of his father’s estate and Hampton Industries was turned over to him. His father’s attorney had no choice but to agree with the court and signed off on the decision.

 When Adam III took over the estate, he immediately sectioned off the West Wing of Hampton Manor to be his father’s residence and hired round-the-clock medical care for his father, who often didn’t even recognize him. His visits to his father decreased to once a week and even then, it took a significant emotional toll on him.