At this time the opera house equivalent of Santa Claus arrived. The “Educational
Foundation” advanced $60,000.00 for a comprehensive program taking opera to
the schools and financing ticketing for children under 18. Negotiations between
the foundation and the opera commenced to work out the implementation of the
program.
Meanwhile the opera used the $60,000.00 to pay off all its debts. The electrical
contractor was now able to pay off his sub-contractors and suppliers with the
$50,000 he had been paid. All the other smaller creditors of the opera were
likewise able to repay their debts.
There was even enough money left over for opera season ticket subscribers to
pay for their subscriptions.
After four weeks of negotiations with the foundation the deal fell through. The
opera house negotiated with the foundation to repay the $60,000.00 over the
course of the season which they now had good prospects of doing with the
renewed money from subscriptions.
And they all lived happily ever after.
Now do you understand economic stimulus any better? |
