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??



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