Okay, this isn't about writing, but I wanted to post it.
I saw the commercials for PepsiCo's billion dollar sweepstakes. I was immediately suspicious, and when I saw the commercial again, I froze it through the magic of Replay TV and caught the fine print.
1. There will be a single MILLION dollar winner which will have the POTENTIAL to be a billion dollar winner. Note use of the word POTENTIAL. The game selects a bunch of people who will compete on a game show of some sort, the winner of which gets a million bucks and the CHANCE to win a billion.
2. If someone wins the billion dollars, it will be paid out over FORTY YEARS with a BALLOON PAYMENT. As in, " The Policy shall provide for payment of the One Billion Dollar Prize over 40 years pursuant to the following payment schedule: $5 million per year for each of years 1 through 20; $10 million per year for each of years 21 through 39 and a lump sum payment of $710 million in year 40 (the "40-Year Payment schedule"). The Policy shall also provide that the One Billion Dollar Prize winner, if any, may instead elect to receive a one-time payment of $250,000,000 (the "Lump Sum Option"), which represents the approximate present value of the amounts received under the 40-Year Payment Schedule calculated using a 4.5% discount rate."
So you're actually getting $290 million over 39 years, and then $710 million in the fortieth. I wonder how much interest the money will earn for Pepsi while they're holding it in the meantime?
Rules at http://billionsweeps.yahoo.com/billion04/static/rules_national.html if you want to see them.
Meanwhile, Pepsi gets immense word-of-mouth publicity about giving away a billion dollars. What a bunch of yabbos. Remember the Pepsi Challenge back in the 80s when you had to find all the letters in the word CHALLENGE under the Pepsi caps to win? And the scandal that followed when it was revealed that they didn't print a letter A?
Geez.
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