Review: DRY POWDER Teaches the Art of the Deal at Alley Theatre

I remember some years ago, the Broadway production of THE BEST LITTLE WHOREHOUSE IN TEXAS played the West End in London. In the front of the program was a glossary of terms used in the play, so the Brits would know the meaning of words like "pissant", "Aggie", and "Chicken Ranch".

In their production of DRY POWDER, the Alley has followed suit, and believe me, unless you happen to be an MBA, you will need it, beginning with the title itself. "Dry powder" refers to the amount of capital available for an equity firm to invest. An "LP" is a limited partner, "ROI" is "return on investment", and "PE" is "private equity". Keep your finger on this page for ease of reference.

The 93 minute one-act is set in the amoral, cutthroat world of private equity, companies that buy other companies, usually to dismantle and sell at a profit, with the attendant loss of jobs and ways of life.

Rick(John Feltch) is the owner of one such company, and he's in a sort of PR bind. It seems he has bought a grocery chain, stripped it, and in so doing has eliminated a large number of employees. This is fairly SOP, but it's complicated by the fact that, on the same weekend that the layoffs are announced, he has thrown a lavish engagement party, and he's getting flack. The party had a Balinese theme, and elephants were involved. Or "elephant" as Rick keeps saying. "There was only one elephant."

Seth (Jay Sullivan) Rick's eager beaver and right-hand man, thinks he has found a way to defuse the issue and make a profit at the same time. Seth has found an old family company, one that makes luggage in the US, the old-fashioned way. The elderly owner wants to sell at a bargain price, on condition that the company be left intact to do business as usual, with no layoffs. Seth, working closely with the company's representative, Jeff (Chris Hutchinson), has given his word, and the deal is all but done.

It remains for Seth to pitch the deal to Rick, which he does, succinctly and with enthusiasm, pointing out that a friendly takeover of an American company in order to sustain it is a public relations plus, and by expanding into internet sales, a good profit may be obtained. Rick is interested, and ready to go forward, but there is a fly in the ointment, in the person of Jenny (Elizabeth Bunch), Seth's female counterpart and rival.

Jenny, who by her own admission, lacks a certain, shall we say, humanity, sees a much larger profit in off-shoring production and transferring headquarters to China, under the auspices of a shady character who is willing to put up the money. Rick is tempted.

Seth argues that the deal is done, and that he has given his word. Jenny counters with the hard facts, that once they own the company, they are under no obligation to fulfill Seth's promises. Seth decries the immorality of that premise, but Jenny is non-plussed. The bottom line is the bottom line. Seth threatens to tell Jeff, but chickens out in a one-to-one meeting. Rick seems to vacillate between the two arguments, seeing the validity of each.

The final decision, which I won't reveal, is something of a shocker, and you may not see it coming.

Director Taibi Magar has steered this vehicle with a deft hand. The lines are sharp as glass, and their delivery, even when given at a staccato pace, is crisp and clean. The cast is at the top of their game.

From time to time I glanced at the full house on opening night, to get a reaction (I do this routinely; be warned.) A well-heeled audience hung on every word. Suited and power-tied men, looking like Central Casting's idea of a boardroom, nodded sagely. It was difficult to tell who they were rooting for; it was a little disconcerting, but the playwright was obviously resonating with her audience.

DRY POWDER is a 21st century morality play, and drips with the cynicism of the times. A play about the arcane world of high finance might be considered a hard sell in these economic conditions, and it might be argued that the more you know, the better you will like it, but I'm not sure. I wasn't exactly waiting to beat down the door, but it was a highly satisfying evening in the theater, and one I would not hesitate to recommend.

---

DRY POWDER, by Sarah Burgess, will run through February 12 at the Alley Theatre, 615 Texas Avenue, Houston 77002. Contains explicit language and adult content. For tickets, call 713.220.5700 or go online at www.alleytheatre.org.

To post a comment, you must register and login.