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A Guide to Corporations
Traditional Capitalism.
You have two cows. One you sell 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 your four
cows back, with a tax exemption for 5 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. 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 wanted 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 worldwide.
A
German Corporation.
You have two cows. You re-engineer them so they live for 100 years, eat once a
month and milk themselves.
A
British Corporation.
You have two cows. Both are mad. | 
Facts
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