True Financial Genius

WKRN has a story on the possibility that the Miss America pageant might move from Atlantic City. The owners are hoping another city might pay a fee to host the near-broke organization, in addition to paying a licensing fee, room and board, and provide a venue. You would think they are talking about a professional sports team.

Here's the most brilliant line:

"We don't need to break even. We need to put money in our pockets," he told officials here. "We are on a very short fuse financially right now."

OK, I'm not an economist. I've not had a business class either but even I know that a business does need to break even. The first couple of years might be rough but eventually, profitability should catch up. If it doesn't, it's a time to re-work the idea or close up shop. After 85 years, you'd think they would have figured this out by now.

Now, this doesn't apply if you are Donald Trump and can bilk your investors out of millions, file for bankruptcy and leave them holding the bill while you make enough to gold plate your underwear and date East European supermodels.