Chocolate Billionaires

1 package caramels
3 tbsp water
1 1/2 c. chopped pecans
1 c. crisp rice cereal
3 c. milk chocolate chips
1 1/2 tsp shortening

Line two baking sheets with waxed paper; grease the paper and set aside. In a large heavy saucepan, combine the caramels and water; cook and stir over low heat until smooth. Stir in pecans and cereal until coated. Drop by teaspoonfuls onto prepared pans. Refrigerate for 10 minutes or until firm.