Monday, May 12, 2008

When "Dynamic" Is Too Slow...

FedEx's Alan Graf explains the company's most recent profit warning:

"While we have dynamic fuel surcharges in place, they cannot keep pace in the short-term with rapidly rising fuel prices."

Translation: If FedEx was a restaurant, it wouldn't be able to change the prices on the menu fast enough.

So the printing presses ran, and once they began to run, they were hard to stop. The price increases began to be dizzying. Menus in cafes could not be revised quickly enough. A student at Freiburg University ordered a cup of coffee at a cafe. The price on the menu was 5,000 Marks. He had two cups. When the bill came, it was for 14,000 Marks. "If you want to save money," he was told, "and you want two cups of coffee, you should order them both at the same time."

George Goodman (pen name Adam Smith), Paper Money, 1981


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