How International Corporations Work

[Hayashi]

The Enron debacle explained, in simple cow terms - PLUS how International Corporations work.

TRADITIONAL 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.
Sell one cow to buy a new president of the United States, leaving you with nine cows.
No balance sheet provided with the release.
The public buys your bull.


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.

A CHINESE CORPORATION

You have two cows.
You have 300 people milking them.
You claim full employment and high bovine productivity.
You have the newsman who reported on the numbers arrested.


AN INDIAN CORPORATION

You have two cows.
You worship them.

[Keraptisdm]

THAT was funny. [img]graemlins/lol.gif[/img] Me thinks the American coroporation would lay-off the cow, not sell it.

[johnny]

That was quite an oldie.