Three contractors are bidding to fix a broken fence at the World Bank. One is from South Africa, another is from Ghana, and the third is from NIGERIA. All three went with a World Bank official to examine the fence. The South African contractor took out a tape measure and did some measuring, then worked some figures with a pencil. Well, he said, I figure the job will run about $90,000. $40,000 for materials, $40,000 for my crew, and $10,000 profit for me. The Ghanian contractor also did some measuring and figuring, then says, I can do this job for $70,000. $30,000 for materials, $30,000 for my crew, and $10,000 profit for me. The Nigerian contractor didnt measure or figure, but leaned over to the World Bank official and whispered, $270,000. The official, incredulous, said, You didnt even measure like the other guys! How did you come up with such a high figure? The Nigerian contractor whispered back, $100,000 for me, $100,000 for you, and we hire the Ghanian contractor to fix the fence. Done! replies the official. And that, my friends, is how the new stimulus plan will work.
Posted on: Sun, 25 Jan 2015 12:16:00 +0000
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