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Great moments in bad ideas

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[url="http://sports.yahoo.com/blogs/nfl-shutdown-corner/jacoby-jones-won-lot-baltimoreans-free-furniture-165524972--nfl.html"]Thank you, Jacoby Jones[/url]

[quote]Gardiners Furniture of Baltimore offered a promotion to any customer who purchased furniture this past weekend: If a Raven returned a kick for a touchdown to start the game or the second half, boom: free furniture![/quote]

Oops.

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Sounds like the Perry's Emporium guy.

"If it snows in Asheville on Christmas Day, all of the jewelry you buy between now and then is free!!"

*Snows in Asheville, Perry gets national media attention*

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I think they buy insurance to cover that so they don't really lose out on anything.

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Yea - promotions like that are heavily insured.

Remember the Chip Player commercials with John Fox guaranteeing a free TV if the Panthers won the Super Bowl one year?

Too lazy too look it up but I assume we went 7 - 9.

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Yep, a local jewelry company does this every year for Christmas... if you buy jewelry before a certain date and it snows in whatever location they choose, it's all free... the 2nd year they did it, it did snow.

It's just an insurance policy they buy.

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[quote name='nc_biscuit' timestamp='1360091890' post='2125845']
Yep, a local jewelry company does this every year for Christmas... if you buy jewelry before a certain date and it snows in whatever location they choose, it's all free... the 2nd year they did it, it did snow.

It's just an insurance policy they buy.
[/quote]

Yep. Is similar to what happens when companies donate items for a contest.

For instance....many charity golf tournaments have a hole where a hole in one wins a car. We did this all the time when I worked for Rick Hendrick. We purchased an insurance policy to cover the price of the car int he event of a win. The policy is quite inexpensive because the chance of paying off is very low. Policy like this on a $30k car was about $500k.

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I used to price this kind of insurance.

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[quote name='MadHatter' timestamp='1360095589' post='2125872']

Yep. Is similar to what happens when companies donate items for a contest.

For instance....many charity golf tournaments have a hole where a hole in one wins a car. We did this all the time when I worked for Rick Hendrick. We purchased an insurance policy to cover the price of the car int he event of a win. The policy is quite inexpensive because the chance of paying off is very low. Policy like this on a $30k car was about $500k.
[/quote]


$500k for a $30k car seems a bit expensive.

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[quote name='njpanther' timestamp='1360199751' post='2127300']


$500k for a $30k car seems a bit expensive.
[/quote]

Meant to type $500 (not $500k).

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