TWO COWS ( Part 2)

netwind (网风)
本文发表在 rolia.net/zh 相约加拿大网上社区枫下论坛
CAPITALISM: You have two cows. You sell one and buy a bull, which you
use to breed. Then you create a great website and start offering to
export sperm from the bull to anyone and everyone, especially emerging
markets over the Internet.
After a few weeks, your company completes its IPO on NASDAQ, and a
few brokerage firms start coverage with a strong buy rating for this
wonderful new Internet stock. Your stock zooms from the $0.10 per
share initial offering price to $110, when you sell. The stock plummets
back to $0.10 a few months later when the dopes who bought it realize
that your business has no earnings and never will, despite the Internet
Several law firms and the SEC bring various civil and criminal actions
against the company, all of the officers and directors, and (of course)
you under various fraud theories. You quickly settle the civil cases
so the lawyers get paid, but you still have plenty stashed away. You
plead nolo in the SEC case, and you are sentenced to 10 years in prison,
of which you actually serve seven weeks. When you come out, you can't
resist the temptation to buy two chickens. Then...

HONG KONG 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 can get all four cows back, with
a tax deduction for keeping five cows. The milk rights of six cows
are then transferred via a Panamanian intermediary to a Cayman Islands
company secretly owned by the majority shareholder, who sells the
rights to all seven cows milk back to the listed company and proceeds
from the sales are deferred. The annual report says that the company
owns eight cows, with an option on one more. Meanwhile, you kill the
two cows because of the bad feng shui.
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2001-8-21 -04:00
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