FDlC insured.

EBlT in this case would be the operating profit plus this investment income.

So now look at the different lens.

That is going to increase employment.

This is really important to pay attention to, because so many people say, oh, a company made this much.

But here you see it means very, very different things.

And at least it'll give you a sense of how revenues, gross profit, operating profit, pre tax income and net income really are different.

Our interests clash with theirs.

Minus 500,000.

The place is convenient for swimming.

This is what the owners of the company get before they pay the government.

(Laughter) But I know it's the bottom line, or one's perception of it, that motivates people in the end.

So this is trailing 12 months earnings.

Kill the goose that lays the golden eggs.

A benefit to both our worlds.

I'll just abbreviate that as Nl.

Go ahead, eat.

And when people talk about earnings of a company, this is what they're talking about.

And that's my dad found that.

But this is the difference between operating income and EBlT.

And that's what these brands did.

The rewards would be... enormous.

So you've probably heard not only the term earnings, you've probably also heard the term earnings per share.

They buy more of your service and they tell more of their friends, which leads to more profit.

And let's say, assume if I inherited this million dollars, I didn't finance it.

And the beauty of this system is that it benefits both sides.

The reason this is happening boils down, in my mind, to one basic problem, which is our inability to perceive the difference between public benefits and private profits.

And this is what goes to the owners of the company.

This is 350,000 of net income.

Why make this thing?

All the profits go toward Phillip's hospital bills.

The taxes will be 153,000.

I'm not a charity commissioner.

We are assuming a very simple world, were the is no taxes, we have no debt, we have no intrest or things

It's also important to think about what the benefit is.

Peter The greatest benefit to all.

Science comes first, but business comes a close fucking second.

This is the best vantage point from the property?

It is to his advantage.

We're better off without the TPP

There is no doubt about what they have done.

And this is, I think, a perfect example of what Robert Wright was talking about in those non zero sum things.

So, let's see, you have to do 1.85.

Quick example from the corporate world.

We had marginal profit I did.