Bisnis_Center@ Thinking Outside The Box

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inking Outside The Box 

Posted: 17 Sep 2007 10:08 AM CDT

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Robin Bal over at the FortuneWatch blog has an interesting story to tell:

A man walked into a bank in New York City one day and asked for the loan
officer.

He told the loan officer that he was going to Philippines on business for
two weeks and needed to borrow $5,000. The bank officer told him that the
bank would need some form of security for the loan.

Then the man handed over the keys to a new Ferrari parked on the street in
front of the bank. He produced the title and everything checked out The loan
officer agreed to accept the car as collateral for the loan.The bank’s
president and its officers all enjoyed a good laugh at the guy for using a
$250,000 Ferrari as collateral against a $5,000 loan.

An employee of the bank then drove the Ferrari into the bank’s underground
garage and parked it there.Two weeks later, the guy returned, repaid the
$5,000 and the interest, which came to $15.41.

The loan officer said, “We are a little puzzled. While you were away, we
checked you out and found that you are a multi-millionaire. What puzzles us
is, why would you bother to borrow “$5,000?.

The millionaire replied: “Where else in New York City can I park my car for
$15.41 and expect it to be there when I return”

Well thats how the rich stay rich, they know a lot more about Money
Management. All the millionaires I have met in my life were penny wise. Look
after your cents and the dollars will look after themselves.

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Salute,
Ch
 
           Fs | YM : broercharlie
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