Message-ID: <26039462.1075860901346.JavaMail.evans@thyme> Date: Tue, 12 Feb 2002 11:11:35 -0800 (PST) From: john.watson@pdq.net To: kimberly.watson@enron.com Subject: FW: Thought you'd enjoy this... Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: John Watson X-To: Watson, Kimberly X-cc: X-bcc: X-Folder: \Kim_Watson_Mar2002\Watson, Kimberly\E-mail Bin X-Origin: Watson-K X-FileName: kwatson (Non-Privileged).pst Kim - From Dennis...see note at bottom, too... John -----Original Message----- From: Dennis Dye [mailto:dennis_dye@hotmail.com] Sent: Tuesday, February 12, 2002 12:30 PM To: john.watson@pdq.net Subject: Re: Thought you'd enjoy this... Ah yes, my favorite topic [fast losing favor to the tales of Enron's monarchy, I fear]. Here is an expansion of the "cow economics" tale that includes ENE: >Subject: Fw: economics lesson (from the TaxMan's Daughter >Date: Wed, 6 Feb 2002 16:33:12 -0800 > >Cow Economics, with Enron addendum: > >AN AMERICAN CORPORATION: You have two cows. You sell one, and force >the >other to produce the milk of four cows. You are surprised when >the cow >drops dead. > >A FRENCH CORPORATION: You have two cows. You go on strike because you >want three cows. > >A JAPANESE CORPORATION: You have two cows. You redesign them so they >are one-tenth the size of an ordinary cow and produce twenty times the > >milk. You then create clever cow cartoon images called Cowkimon and > >market them World-Wide. > >A GERMAN CORPORATION: You have two cows. You reengineer them so they >live >for 100 years, eat once a month, and milk themselves. > >A BRITISH CORPORATION: You have two cows. Both are mad. > >AN ITALIAN CORPORATION: You have two cows, but you don't know where >they >are. >You break for lunch. > >A RUSSIAN CORPORATION: You have two cows. You count them and learn you >have five cows. You count them again and learn you have 42 cows. You > >count them again and learn you have 12 cows. You stop counting cows >and >open another bottle of vodka. > >A SWISS CORPORATION: You have 5000 cows, none of which belong to you. >You charge others for storing them. > >AN INDIAN CORPORATION: You have two cows. You worship them. > >A CHINESE CORPORATION: You have two cows. You have 300 people milking >them. You claim full employment, high bovine productivity, and arrest >the >newsman who reported the numbers. > >AN ISRAELI CORPORATION: So, there are these two Jewish cows, right? >They >open a milk factory, an ice cream store, and then sell the movie >rights. >They send their calves to Harvard to become doctors. So, who >needs >people? > >AN ARKANSAS CORPORATION: You have two cows. That one on the left is >kinda cute... >------------ >In case you were wondering how Enron came into so much trouble, here is >an explanation reputedly given by an Aggie professor to explain it in > >terms his students could understand. Consider this: 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. > >Now do you see why a company with $62 billion in assets is declaring >bankruptcy? Thanx, Dennis PS - I am now zipping all of this info around on my new >1 mbaud link that I finally shamed the cable company into getting hooked up [only took two separate visits and plenty of customer "motivation"] In tandem with my new 1.5ghz CPU, 80gb disk and CD burner, I believe I have moved us into the 20th century [Alas, I know that everyone now agrees that you are in the 21st in Houston]. Got the settlement on my old red buddy, but am still grieving and in a quandry about what to do [no enthusiasm by either partner up here for spending $$$ after the first year of Prince George's economic slide and the Enron debacle]. Janell is now improving rapidly and we actually have a small jaunt planned to Austin that looks very unlikely to be cancelled. I have a new "look" that I have been dying to spring on "the group" since before the Italia trip was scrubbed. It may be an old look [or gone] before we meet again. I hope you get to see King Kong in hong Kong...isn't that where he lives?? _________________________________________________________________ MSN Photos is the easiest way to share and print your photos: http://photos.msn.com/support/worldwide.aspx