Everything I Know About Business I Learned From Seinfeld

It is easy to forget in the overwhelming PR-athon around the release of the first three seasons of Seinfeld on DVD that there once was a fresh and interesting show called Seinfeld. Well, there was, and it had some classic finance moments, two of which involved Kramer and Jerry:

1) On write-offs ….

JERRY: What happened to my stereo ? It’s all smashed up.
KRAMER: That’s right . Now it looks like it was broken during shipping and I insured it for $400.
JERRY: But you were supposed to get me a refund.
KRAMER: You can’t get a refund. Your warranty expired two years ago.
JERRY: So were going to make the Post Office pay for my new stereo?
KRAMER: It’s just a write off for them.
JERRY: How is it a write off?
KRAMER: They just write it off.
JERRY: Write it off what?
KRAMER: Jerry all these big companies they write off everything
JERRY: You don’t even know what a write off is.
KRAMER: Do you?
JERRY: No. I don’t.
KRAMER: But they do and they are the ones writing it off.
JERRY: I wish I just had the last twenty seconds of my life back.

2) On deductibles …

KRAMER: You want to get outta here? Here’s what we do. We leave the car here, we take the plates off, we scratch the serial number off the engine block, and we walk away.
JERRY: Walk away?
KRAMER: You’ve got insurance. You tell them that the car was stolen, and then you get another one free.
JERRY: Isn’t there a deductible?
KRAMER: All right, what is your deductible?
JERRY: I don’t know.
KRAMER: Yes, because they’ve already deducted it.
JERRY: From what?
KRAMER: The car, which we’re leaving. So the net is zero. See you pocket the money, if there is any, and you get a new car.
JERRY: We’re not leaving the car!
KRAMER: All right. If you refuse to grow up and scam your insurance company, you’ll have to work this out with maroon Golf.