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Author: AverageJo Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 36693  
Subject: Ranching -- the ENRON way Date: 1/18/2002 11:53 AM
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A new twist on the old "You have two cows" joke:

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 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.

~josie
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Author: davidbtdi Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18797 of 36693
Subject: Re: Ranching -- the ENRON way Date: 1/18/2002 12:00 PM
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A few more twist then Enron will have enuf cows to provide meat, milk for all its employees.

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Author: rhomboid Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18799 of 36693
Subject: Re: Ranching -- the ENRON way Date: 1/18/2002 12:10 PM
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And old Arthur Andersen - your trusty ranch hand - looked the other way as you took your last 2 (borrowed) cows out the back and auctioned them off to the highest bidder in a last ditch attempt to pay off the feed bill at the local store...

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Author: Ferretz Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18800 of 36693
Subject: Re: Ranching -- the ENRON way Date: 1/18/2002 12:55 PM
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And then you fired your ranch hand for letting the cows out of the barn.

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Author: PeterRabit Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18818 of 36693
Subject: Re: Ranching -- the ENRON way Date: 1/18/2002 7:51 PM
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And then you fire AA for not pointing out clearly what you were doing!

Peter :-)



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