bad debts to profit (Enron Legend)

Bad debts to profit
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A city boy, Kenny, moved to the country and bought a donkey from an old farmer for $100.00. The farmer agreed to deliver the donkey the next day. The next day the farmer drove up and said, "Sorry son, but I have some bad news, the donkey died last night."

Kenny replied: "Well then, just give me my money back."
The Farmer said: "Can't do that. I went and spent it already."
Kenny: "OK then, just unload the donkey."
The Farmer asked: "What ya gonna do with him?"
Kenny: "I'm going to raffle him off." (Note: To raffle is to sell a
thing by lottery - draw lot - to a group of people each paying the same
amount for a ticket)
Farmer: "You can't raffle off a dead donkey!"
Kenny: "Sure I can. Watch me. I just won't tell anybody he's dead."
A month later the farmer met up with Kenny and asked, "What happened with that dead donkey?"

Kenny: "I raffled him off. I sold 500 tickets at two dollars apiece and made a profit of $898.00."

Farmer: "Didn't anyone complain?"
Kenny: "Just the guy who won. So I gave him back his two dollars."
Kenny grew up and eventually became the chairman of Enron.

Quote:

It is impossible to make anything foolproof because fools are so ingenious. -- Murphy's Law

There is always a way to convert bad debts to profit with a little planning

Have fun
Vikas