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Technology Stocks : Information Architects (IARC): E-Commerce & EIP
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To: Larry Brew who wrote (8215)10/9/1998 7:48:00 PM
From: Grashopper  Read Replies (1) of 10786
 
Tell you a story about currency exchange..some years back i was part of a group that chartered a Greek cruiseship "Victoria" from Chandris Lines for a Mediterranean cruise. To let us know about the vessel they flew us to San Juan a year earlier for a free cruise in the Caribbean. I kept a diary of every meal, movie , entertainment etc. and put into our charter contract that the services had to be first class exactly identical in quality to the prior San Juan cruise. Well we booked 400 passengers and the food sucked, there was no movies or other comparable entertainment and our passengers sued us and we in turn sued Chandris who threw out our case because the small print on the charter contract said we only arbitrate in London and we must follow British Admiralty Law. Rather then give up, we filed for arbitration in London. The buggers immediately try to throw us out because we need to mput up a Bond for their costs because we are not UK residents aand cant be trusted to reimburse their costs if they prevail. So the lovely English Judge says put up $100,000. and i will let you leave it at Bristol & West Loan Society where you can earn interest but no touchee the money until the case is over and we have a release by the Court. My share of this ransom is $25,000 which gets exchanged into pounds at $1.05 and entitles me to 12% interest. Eight years later, the case is settled for a pittance but the exchange rate is $1.96 and i've been earning my interest all along. Long story short, i did substantially better with my Bristol & West then i did with the litigation! BTW, i didnt post this reply on vias because we are in the process of making si alyd the #1 thread in volume and this exchange of currency is akin to titties and other alyd tidbits.
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