Message-ID: <16313226.1075862687637.JavaMail.evans@thyme> Date: Tue, 27 Nov 2001 10:24:42 -0800 (PST) From: cbroussard@harveybuilders.com To: e-mail <.clint@enron.com>, s..shively@enron.com Subject: FW: Funny, but not to Enron shareholders... Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Chris Broussard <CBroussard@HarveyBuilders.com>@ENRON X-To: Clint Carlin (E-mail) <clint.carlin@andersen.com>, Shively, Hunter S. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=HSHIVEL> X-cc: X-bcc: X-Folder: \HSHIVEL (Non-Privileged)\Shively, Hunter S.\Deleted Items X-Origin: Shively-H X-FileName: HSHIVEL (Non-Privileged).pst not sure if you will think this is funny Chris Broussard Project Manager D.E. Harvey Builders 713-783-8710 MEXICAN DEMOCRACY You have two cows. The government takes both and drafts you into the army. ---------- GREAT BRITAIN You have two cows. The government shoots one cow because it has Mad Cow. The government comes back and shoots the other one because it has foot and mouth. ---------- EUROPEAN DEMOCRACY You have two cows. The EU commission decides which regulations for feeding and milking apply. If there aren't any, they invent some. They pay you not to milk the cows. They take both cows, shoot one, milk the other and pour the milk down the drain. They then require you to fill out forms accounting for the missing cows. ---------- AMERICAN DEMOCRACY The government promises to give you two cows, if you vote for it. After the election, the president is impeached for speculating in cow futures. The press dubs the affair "cowgate," but supports the president. The cows sue you for breach of contract. Your legal bills exceed your annual income. You settle out of court and declare bankruptcy. ---------- CAPITALISM You have two cows. You sell one and buy a bull. Your herd multiplies, and the economy grows. You sell them and retire on the income. ---------- ENRON VENTURE CAPITALISM 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 Island company secretly owned by the majority shareholder 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. - No Balance Sheet provided with the release