This sounds about right:
Three contractors are bidding to fix a broken fence at the White
House -- One from Illinois one from Tennessee and a third from
Kentucky .. They all go with a White House official to examine the fence.
The Tennessee contractor takes out a tape measure and does some
measuring, then works some figures with a pencil.
'Well', he says, 'I figure the job will run about $900: $400 for
materials, $400 for my crew and $100 profit for me.'
The Kentucky contractor also does some measuring and figuring,
then says, 'I can do this job for ! ! $700: $300 for materials, $300
for my crew and $100 profit for me.'
The Illinois contractor doesn't measure or figure, but leans
over to the White House official and whispers, '$2,700.'
The official, incredulous, whispers back, 'You didn't even
measure like the other guys! How did you come up with
such a high figure?'
The Illinois contractor whispers back, '$1000 for me, $1000 for
you, and we hire that guy from Kentucky to fix the fence.'
'Done!' replies the government official.
And that my friends, is how it all works !