Eric,

I'm sure by now u've seen this.

Is your e-mail addy gonna stay the same?



>Subject: Enron story
>Date: Wed, 30 Jan 2002 18:55:13 EST
>
>An update on an oldie -
>
> > 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 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.
> >
>
>


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