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"Did the Adelaides commit any other unforgivable sins during their early history? Did they betray their clients or give up their missions without good cause?"

"The Adelaides might not always be clean, but they often get the job done, at least that is what we have heard. They have rarely failed their missions and never without proper cause."

Ves smiled in relief. "That sounds good. That means that they still made an effort to cling onto their integrity during those difficult times."

The Black Cats managed to uncover a lot of incident reports about the affairs where the Adelaide Mercenary committed wrongs. A part of them had even been buried in a forgotten classified archive!

While all of this sounded like interesting reading material, Ves didn't have the time or inclination to dig that deep into the Adelaide Mercenary Company's ancient history.

Ves tapped a finger against his head in thought. "From what I have witnessed of the Adelaides of today, none of them carry the impression of cynical war dogs whose trigger fingers have become a little too itchy. A major transition took place along the way, am I correct?"

Calabast nodded. "The Adelaide Mercenary Company was one of the few mercenary organizations that was capable of fielding expert mechs. They had also done a good job at training new ones and equipping them with expert mechs developed by its business partners. Although the Adelaides had little choice at the beginning, once they gained a solid footing and secured their finances, they needed to address other priorities. Their reputation in the mech community had declined and numerous expert pilots have expressed objections to the state of the mercenary company at the time."

"So the Adelaide Mercenary Company cleaned up its act as soon as it could afford to do so, am I right?"

"That is correct, Ves. This transition took decades, but the Adelaides had shown great patience and did not give up even if progress happened too slowly for most people to notice. By the time Marissa Lewandowski successfully advanced to ace pilot, the mercenaries have successfully completed their reforms and cleaned up their reputation. Most people don't pay special attention to mercenary companies and do not care so much about the misdeeds they committed a few generations ago. This combined with taking on much more lucrative and high-profile war contracts has allowed them to build a positive reputation."

In the end, the history of the Adelaides was not that special. The former military mech regiment turned mercenary company managed to climb their way up from their lowest point through a combination of persistence and adaptability.

Although the growth rate of the company was not that great, the fact that it managed to maintain a positive trend across multiple generations spoke of sound leadership and a commitment to long-term interests.

"So aside from committing a few war crimes in the heat of battle, the Adelaides don't have any other dirty laundry under the surface?" Ves questioned the spymaster.

"We have yet to find traces of any other objectionable or problematic stories related to their organization or activities, but we are still in the early stages of our investigations. Do not assume that the intelligence that I have presented to you is the complete picture. We are still in the process of digging into their internal hierarchy. We need to move much slower and more cautiously here, as getting caught may have serious implications for the ongoing negotiations."

"Got it, Calabast. Keep up the good work." Ves spoke before turning back to Minister Shederin. "Tell me about the leadership structure of the Adelaide Mercenary Company. So far, I only had personal contact with Mech General Herman Foraine. How much power does he wield and who else has a say in how the company is run?"

The minister smiled in an intriguing manner. "That is an interesting topic, sir. Most military mech units and commercial organizations tend to be led by a single leader who holds most of the authority. They may have to answer to shareholders or a civilian administration, but by and large they have a mandate that allows them to implement many decisions without needing to ask permission from above."

"And the Adelaide Mercenary Company is different?"

"Yes." Shederin nodded. "Back when the Adelaides only operated a single shabby fleet of deserters, it was easy for a single general to keep the entire unit in line. Once they started to expand and form multiple fleets, multiple mech generals emerged from the ranks. As these fleets often accepted different war contracts that caused them to be stationed far away from each other, these mech generals mostly focused on leading their own units and rarely intersected with the other fleets."

That indeed sounded interesting to Ves. "Since these mercenary fleets spend so much time away from each other, there is always a risk that they break away from the mother organization. Has that happened with the Adelaides?"

"Surprisingly, no. They have been remarkably good at instilling enough loyalty and belonging in their cadre to keep every fleet within the company. It also helps that their headquarters and back office handles much of the overhead and work that is common among all of the fleets."

"So who is actually in charge of the Adelaide Mercenary Company?" Ves asked.

"The Adelaide Mercenary Company should formally be classified as a cooperative, sir. It has no outside shareholders. Every fleet owns an equal share of the company. Whenever the company needs to make high-level decisions or set an overall strategic direction, all of the mech generals convene together in order to discuss and vote on different proposals. In theory, no mech general holds a greater voice than the rest, but in practice seniority and glory plays a major role in whose voice is greater."

That was natural. True equality did not exist. A company that was led by a council of true equals should have crashed and burned a long time ago due to lacking a single cohesive strategy.

As Ves thought about his meetings with Mech General Foraine, he felt that the man did not carry himself as a powerful member of the highest decision-making organ of a large and prosperous mercenary company.

"What's the deal with the Third Fleet and General Foraine?"

"The Third Fleet is obviously the third fleet to emerge under the Adelaides." Shederin explained. "It is neither the oldest or newest of the mercenary fleets, but it has managed to build a good record under its previous generals. Herman Foraine only took over leadership fairly recently. He is stepping into big shoes as his predecessor was both beloved and accomplished among his men."

"Oh. I see. He's the new guy, then. That must be tough for him then. Is he doing well up to this point?"

"Mech General Foraine has not shown any incompetence, and he has done decently well in acclimatizing to his new responsibilities. The issue is that he is still lacking in accomplishments. The difficult environment of the Red Ocean has made it difficult for him to accept risky missions as the chances of meeting an excessively strong opponent is too great. He has been getting by with letting the Third Fleet or its detachments complete safer and less ambitious contracts. While that certainly pays the bills, it is not making his men excited. Taking part in Operation Lighthouse was the first major success of his fleet since his promotion."

Ves gained a better understanding of the position of General Foraine and his Third Fleet. It seemed that the poor man who had been thrust into a greater office had to prove himself, but was unable to do so on his own because it was too easy to get utterly crushed in the new frontier.

Joining the Golden Skull Alliance sounded like a logical solution. Whether the Adelaide Third Fleet only stuck around for a decade or stayed for the long haul, their new allies were bound to drag General Foraine's men into crazy and exciting expeditions!

The record of the Golden Skull Alliance was much more exciting and glorious than the Third Fleet under its current leader. This was enough to show that the former clearly knew what it was doing in the new frontier.

It made a lot more sense why the Adelaide Third Fleet desired to become a part of the Golden Skull Alliance.

The Adelaides clearly weren't afraid of danger, but they had not adapted too well to the new frontier.

By joining an alliance that had a proven record of success and also earned insane profits through its expeditions, General Foraine would be able to ride to success while not having to do anything but ensure that the mercenary soldiers under his command would fight when directed!

Although the Third Fleet clearly did not excel in any other areas such as planning, trade, industrial activities or research, there was no need to bring in anything else.

Just the ace mech along with a professional mech division that possessed a lot of experience in fighting in wars was enough to make the Golden Skull Alliance satisfied!

What Ves liked the most was that the Adelaides were unlikely to pose a threat to the alliance.

General Foraine was more interested in securing his position within the mercenary company than making any external power plays.

The Adelaide Mercenary Company also sounded like a collective that was fairly loose in the management of its individual mercenary fleets.

It should be easy to keep the Third Fleet happy. Mercenaries always liked profit, and it appeared the Adelaides also needed periodic stimulation and excitement in order to give their life meaning.

"I like what I am hearing so far, Shederin." Ves said with a smile. "That said, no organization is without its blemishes. What are the risks and downsides to allowing the Third Fleet to become a part of our alliance?"

"You are asking the right question. There are most definitely risks to bringing in the Adelaide Third Fleet. The most obvious risk factor is interference from the rest of the mercenary company. While General Foraine possesses a great amount of autonomy on how he can run his fleet, the council of generals can always overrule him and force him to act against the interests of our alliance."

"Do you think that is likely to happen?"

"Probably not." Shederin shook his head. "The Adelaides have always been honorable, especially in their later years. They greatly value their credibility and reputation as those are intangible assets that directly impact how well they can attract well-paying clients and negotiate more favorable terms with them. If the company at large ever wants the Third Fleet to stop associating with our alliance, you can at least expect the Adelaides to file the necessary paperwork and properly go through the lengthy exit process. They are extremely unlikely to stab us in the back in the middle of the battle."

"Even if they are mercenaries?"

"They may carry that label, but they are not truly mercenaries at heart, sir. They are more aptly described as stateless soldiers that are constantly looking to test themselves and earn glory in honorable and worthy fights. Their military DNA has slackened over the years, but they still cling to many of the essential traits of professional soldiers."

Calabast nodded as well. "I have found plenty of proof to support this description. The Adelaide Mercenary Company do not purely fight for profit and they are not opportunistic cowards who are eager to abandon their missions at the first sign of adversity. The recruits they have hired over the years along with the newer generations that have emerged from within have all embraced a culture where they don't have to think too much about the cause they are fighting for. As long as they can take part in good fights and win in the process, they will always remain happy."

"I see." Ves said. "That means that we only need to keep winning if we want to maintain their support."