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The cost of knowledge

Added: April 19 2006       Rating: 3.00     Rate It     Hits: 

There was an engineer who had an exceptional gift for fixing all things mechanical. After serving his company loyally for over 30 years, he happily retired. 

Several years later, the company contacted him regarding a seemingly impossible problem they were having with one of their multi-million dollar machines. They had tried everything and everyone to get the machine fixed, but to no avail. In desperation, they called on the retired engineer who had solved so many of their problems in the past. 

The engineer reluctantly took the challenge. He spent a day studying the huge machine. At the end of the day, he marked a small "x" in chalk on a particular component of the machine and proudly stated, "This is where your problem is." 

The part was replaced and the machine worked perfectly again. The company received a bill for $50,000 from the engineer for his services. They demanded an itemized accounting of his charges. 

The engineer responded: 

One chalk mark . . . . . . . . . . . . . $1 
Knowing where to put it . . . . . . . $49,999

 

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Updated: April 22, 2006.