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| Thread ID: 74037 | 2006-11-09 03:59:00 | Explaining Enron................ | Billy T (70) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 497701 | 2006-11-09 03:59:00 | How to Explain Enron to Your Children: Feudalism - You have two cows . Your lord takes some of the milk . Fascism - You have two cows . The government takes both, hires you to take care of them, and sells you the milk . Communism - You have two cows . Your neighbors help take care of them and you share the milk . Totalitarianism - You have two cows . The government takes them both and denies they ever existed and drafts you into the army . Milk is banned . Capitalism - You have two cows . You sell one and buy a bull . Your herd multiplies, and the economy grows . You sell the milk and retire on the income . Enron - You have two cows . You sell three of them to your publicly-listed company, using letters of credit opened by your brother-in-law at the bank, then execute a debt/equity swap with an associated general offer so that you get all four cows back, with a tax exemption for five cows . The milk rights of the six cows are transferred via an intermediary to a Cayman Islands partnership secretly owned by the CFO of the publicly listed company who sells the rights to all seven cows back to your listed company . The annual report says the company owns eight cows, with an option on one more, and that these and certain other cow-related activities give milk, both realized and unrealized/notional, at an annual run rate of 1 . 54 billion gallons . Might also work for Burns-Philp if the Hart magic comes a cropper . Cheers Billy 8-{) :stare: |
Billy T (70) | ||
| 497702 | 2006-11-09 09:36:00 | Hmmm . . . might have something there . Can I interest you in a plan to make a papier mache floating stadium and launch it on the bovine efluvium flying about? Cheap . (The paper comes out of Wgtn . as a byproduct of the effluvium . ) | R2x1 (4628) | ||
| 497703 | 2006-11-09 10:06:00 | How to Explain Enron to Your Children: Feudalism - You have two cows . Your lord takes some of the milk . Fascism - You have two cows . The government takes both, hires you to take care of them, and sells you the milk . Communism - You have two cows . Your neighbors help take care of them and you share the milk . Totalitarianism - You have two cows . The government takes them both and denies they ever existed and drafts you into the army . Milk is banned . Capitalism - You have two cows . You sell one and buy a bull . Your herd multiplies, and the economy grows . You sell the milk and retire on the income . Enron - You have two cows . You sell three of them to your publicly-listed company, using letters of credit opened by your brother-in-law at the bank, then execute a debt/equity swap with an associated general offer so that you get all four cows back, with a tax exemption for five cows . The milk rights of the six cows are transferred via an intermediary to a Cayman Islands partnership secretly owned by the CFO of the publicly listed company who sells the rights to all seven cows back to your listed company . The annual report says the company owns eight cows, with an option on one more, and that these and certain other cow-related activities give milk, both realized and unrealized/notional, at an annual run rate of 1 . 54 billion gallons . Might also work for Burns-Philp if the Hart magic comes a cropper . Cheers Billy 8-{) :stare: The mentality of this Enron crowd has to be questioned,why would multi,multi millionaires want to rob the lesser mortals . ?? |
Cicero (40) | ||
| 497704 | 2006-11-09 17:45:00 | As IF it's any surprize, today, the first day after the mid-term elections, the price of gasoline at the pumps just took a hike by about 13% across the nation, a little more here where I live in Lotus-Land (SoCal), and it was said this would happen after the party-in-power got all the votes by "feeling the pain" of the citizenry . It went up anyway! So . . the prices are artificially manipulate by the govt? :horrified Huh? :illogical Don't say it! :xmouth: BTW: the party that WAS in power has lost large in both houses, and the leader of the pack has had a Rose Garden speech at the House of Tarnished Reputation . He wants to move on . . . indicating that if there's any lack of forward motivation . . . it'll be the other party's fault! Hmmmmm . . . . looks like a cold . wet, high-priced winter ahead . :yuck: |
SurferJoe46 (51) | ||
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