Two local businessmen sat with some friends in a Lebanon diner in February 2009. Amid the conversation, Perry Ingram asked his friends "Guys, what if [the stock market] goes to zero?" In response, his friend Kerry Bay said "That isn't going to happen, guys. In fact, I'll bet you $1,000 that the market will be up to 14,000 points by June of 2013."
Fast forward to 2012, on a November day when Ingram said to Bay, "You know what we need to do? Whoever wins this bet…the winner should give the money back to the community or charity of the winner's choice at Christmas."
Bay agreed, and the challenge was on.
In early February of this year, Bay had the pleasure of phoning his friend and saying, "Pay up baby, the market just hit 14K."
According to Bay, the bet was settled in June.
Next came the task of choosing where the money would be donated.
"There's an endless supply of charities out there," he said. "We wanted to keep it here in the county. Taking care of home."
After some talks and searching, Kerry's wife Heather mentioned Winfree Bryant Middle School.
"Mr. Ingram will be donating on behalf of me," said Bay. "We're both fairly blessed people so we thought, 'Why not give back?'"
Winfree Bryant Principal Becky Kegley said Thursday that the money will be used to help the school's science department.
Bay also said the pair is working on a bet for next year, and it is something they would like to do every year.
As to the nature of the next wager, Bay left it somewhat open.
"It will be something stupid, I can assure you. We're doing this for bragging rights over the other, but for a good cause," said Bay.