Other People's Money
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:11:00
Now, most mornings, she spits out,
"Garfield, you're the fairest."

:11:06
But three weeks ago, she said:
:11:10
"Garfield, Garfield, scratch your balls.
:11:14
New England..." Pardon me. "New England
Wire and Cable is the fairest of them all."

:11:21
New England Wire and Cable?
:11:23
I said, "What's it worth?"
So she showed me the numbers.

:11:29
You got equipment here
that costs $ 1 2O million.

:11:33
Even at salvage,
it's worth 3O, 35 million.

:11:36
- Can I use that blackboard over there?
- Yeah, go ahead.

:11:39
Thank you.
:11:40
Come with me.
Carmen will educate us.

:11:45
Gonna erase this stuff here.
:11:48
Here.
:11:50
Let's put down 3O million.
:11:56
- How many acres you got?
- A hundred and ten.

:11:59
Carmen and I figure,
even as farmland, grazing land...

:12:02
...it's worth 1 O million.
:12:03
- Is that fair?
- Yeah.

:12:05
Let's lay the 1 O under the 3O.
That makes 4O million.

:12:09
You bought some other companies,
didn't you, Bill?

:12:12
You have a plumbing, an electrical
and some kind of adhesive company.

:12:16
Boring, but all making a decent profit.
:12:18
Carmen says they're worth
another 8O mil.

:12:21
Let's put the 8O under the 4O.
:12:23
And you have working capital of 25 million,
1 O of it in cash.

:12:27
Let's put down 25 million,
add them up and see what you got.

:12:31
$ 1 25 million.
:12:36
The only bad news is...
:12:38
...that this wire and cable division
isn't making a profit...

:12:41
...and all the other divisions
have to support you.

:12:44
Now, as a stockholder,
that doesn't make me very happy.

:12:47
Are you finished, Mr. Garfield?
:12:49
No, I'm not, Bill.
:12:50
Let's say Carmen was suffering
from premenstrual syndrome.

:12:53
No offense. A little nuts.
:12:55
Let's say she was too optimistic.
:12:57
Let's knock off 25 million.
Here we go.

:12:59
Let's make it...

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