Business English-Supplementary reading

Talking about business travel (p48, 012)

 I hear your are being sent to Madrid for the annual conference. Is that right?  Yes, it will be my first trip overseas. Actually, it‘s going to be my first time leaving the

country.

 Are you serious? You haven‘t been anywhere on vacation?

 No, I have never vacationed anywhere exotic. But even if I don‘t have a chance to travel on my personal time, at least I travel on company time.  Well, being able to go to the conference sounds like such a great opportunity. Have you

applied at the embassy for a visa yet?

 Yes, it wasn‘t too hard to get. All I had to do was fill out the paperwork and pay the application fee.  You leave next Tuesday, right? What time is your flight?

 My flight departs at 7am. I have everything except for my luggage ready.

 If your flight is leaving so early, I can take you to the airport and see you off. I‘ll still be able

to make it into the office by 9.  That would be great! Thanks a lot!

Meeting clients at the airport and Entertaining clients (p68,017)

 Mr. Bryant? Hi, I‘m Mike from Florence Incorporated. I‘m glad you made it okay. How was

your flight?

 It was pretty bumpy (颠簸的), also a bit long, all together about 5 hours.

 That‘s a long flight. You had a layover (stopover: 中途停留) too, is that right? You must be

tired.

 Actually I feel quite rested. I was able to sleep on the plane.

 Good. Here, let me help you with your bag. Is it your first time to Seattle? I‘d be happy to

take your around this city and show you the sights tonight if you‘re up to it.  That would be very nice, you‘re too kind.

 I‘ve already made a hotel reservation for you, let‘s go to the hotel first and drop off your

things. Then I‘d like to have a drink so that we can get better acquainted. I‘ve booked a table at an exclusive (高级的) restaurant downtown. Afterwards, I‘ve made arrangements to take you to see the city nights. Seattle‘s nightlife can be really quite exciting. How does this schedule sound to you?

 Sounds great. Thank you for your hospitality.

The working lunch (p44, 011)

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 Excuse me, Don? I hate to bother you, but I need your help on something. Do you have time

to brief me on (向某人介绍情况) the Martin account today?

 Oh, that‘s right. You‘re supposed to deliver a brief on that account tomorrow. I know there are something I need to share with you about that, but, gosh, I don‘t know. Things are really busy for me today. The only time I can manage to squeeze out (挤出来) might be over lunch break.

 I hate to make you work through your lunch break with how busy you are…

 It‘s okay. I‘ve already have several days in a row (连续几天) working through lunch.

 How about this… we can make it a working lunch this afternoon, and I‘ll order some Chinese

food for delivery (外卖) . It‘ll be my treat （我请客）.  You don‘t have to do that…

 I insist. I really appreciate you taking the time to work me in. What is your favourite fast food?

I‘ll cater to (迎合) your taste.

 Actually, I do like Chinese…Let‘s make it a date for Chop Suey (炒杂碎) and the Martin

account at about 12:30. Does that sound good?  Great. I‘ll bring the food.

The working lunch (p44,011)

 For our lunch meeting with the investors, do we have to make a reservation at the restaurant or do we just show up?  Usually, we don‘t have to reserve a table, they should allow walk-ins. But to be on the safe side, I‘ll order a table for half past 12. will that suit your schedule?

 I‘ve arranged to meet them at the restaurant at 12.Can you make the reservation a little earlier?

If we start earlier, it will give us more time for a longer lunch.  Are you planning on treating the investors to a full-course meal?  Yes, we‘ll start with appetizers, follow with a soup and salad course, then main dishes of

prime rib (上等排骨) or cordon bleu chicken （高级厨师烧的鸡）, and finish up with a delicious rich dessert of some sort.

 That‘ll be pretty heavy for a mid-day meal, don‘t you think?

 As long as we stay away from anything alcoholic, we should be okay.

 We can make some special arrangements if we need to. After all, it‘s the company who is

footing the bill (买单).

Company Structure, job titles—Take Unilever for example

Executive directors

The Executive directors (执行董事) are those members of the Unilever Leadership Executive (ULE), who are also on the Unilever Board of directors (董事会).

Paul Polman, Chief Executive Officer (首席执行官), was appointed an Executive Director to the Boards of Unilever PLC and Unilever NV in October 2008, the first time an external candidate

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was chosen for the role. Jean-Marc Huët, Chief Financial Officer (首席财务官，财务总监), joined Unilever in February 2010 as Chief Financial Officer.

Non-executive directors

The Non-executive directors (非执行董事) are the independent element in Unilever's governance.

Michael, Chairman Unilever N.V. and PLC has had a distinguished career with a range of multinational companies in both Executive and Non-Executive roles. He has been awarded prestigious honours by Sweden, Spain and France in recognition of his contribution to trade relations. Louise Fresco is an agricultural scientist and a Professor of International Development and Sustainability at the University of Amsterdam. An MBA graduate of Harvard University, Ann M. Fudge is an honorary director of Catalyst, a director of The Rockefeller Foundation and is on the board of overseers of Harvard University. Byron Grote has a PhD in Quantitative Analysis from Cornell University. After holding various executive posts within BP, he was appointed as a Managing Director (总经理) in 2000 and became Chief Financial Officer in 2002.

Sunil Bharti Mittal is an entrepreneur (企业家) who founded the Indian group, Bharti Enterprises. Its telecoms company, Bharti Airtel, has operations (经营业务) in 19 countries in Asia and Africa, with over 223 million customers. A former Unilever marketing employee, Hixonia Nyasulu now chairs the Board of Sasol Ltd and serves on the JP Morgan SA Advisory Board. Sir Malcolm Rifkind has been a Member of the UK Parliament since 1974 and served as a minister under Conservative governments over an 18-year period, eventually becoming Foreign Secretary. He is also a qualified barrister (大律师) and Queen‘s Counsel (英国王室法律顾问，御用大律师).

Kees Storm‘s financial career saw him rise to become Chairman at AEGON in 1993 – a position which he held with great distinction until 2002. He now serves on supervisory Boards (监事会) at KLM, PON Holdings, AEGON, Baxter and InBev, as well as at Unilever. Paul Walsh was appointed Chief Executive Officer of Diageo in 2000. Recognizing his success in building Diageo into a world renowned company, Paul received the ‗Decade of Excellence Award‘ at the UK National Business Awards in 2008.

Unilever Leadership Executive (ULE)

Paul Polman, Chief Executive Officer, has been Chief Executive Officer since 1st January 2009. Under his leadership Unilever has set out an ambitious vision to double its size while reducing its overall environmental footprint and increasing its positive social impact. Jean-Marc Huët joined Unilever in February 2010 as Chief Financial Officer. Douglas Baillie, Chief HR Officer (人力资源总监), is a British national, born (1955) and educated in Zimbabwe. Doug graduated from the University of Natal with majors in Business Finance, Marketing and Business Administration and joined Unilever South Africa in 1978. Geneviève Berger, Chief Science Officer (首席科学家), was educated in physics and medicine, and holds three doctorates: a PhD in Physics, a PhD in Human Biology and a Medical Doctorate.

David Blanchard was appointed Chief Category R&D Officer (产品大类研发总监) in January 2013. He joined Unilever in 1986, holding a variety of senior roles including most recently SVP, Unilever R&D. Kevin Havelock, President (总裁), Refreshment (饮料点心类), was

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appointed President of Unilever‘s Refreshment category, which comprises our ice cream and drinks brands, in September 2011. Previously, he was Executive Vice President (执行副总裁) for Unilever‘s global Ice Cream businesses. Alan Jope was appointed President of Unilever‘s businesses across North Asia in September 2011. The region includes China, Hong Kong, Taiwan, Japan and Korea.

Kees Kruythoff was appointed President of Unilever‘s North America cluster in September 2011, after senior roles with the company in Europe, Africa, Asia and Latin America. Dave Lewis, President, Personal Care (个人护理类), has had a long career at Unilever, starting in 1987 and moving through different roles in Europe, South America and Asia. Harish Manwani, Chief Operating Officer (首席运营官，运营总监), is an honours graduate from Mumbai University and has a master's degree in management studies. He also attended the Advanced Management Program at the Harvard Business School. Antoine de Saint-Affrique, President, Foods (食品类), was appointed President of Unilever‘s Foods category in September 2011. He has worked in roles across Unilever since 2000, most recently as Executive Vice President for Unilever‘s world-leading skincare brands (护肤品牌). Pier Luigi Sigismondi, Chief Supply Chain Officer (供应链总监), was appointed Chief Supply Chain Officer in September 2009 and is a member of the Unilever Leadership Executive. An Italian national, he holds a Masters in Industrial & Systems Engineering from the Georgia Institute of Tech., Atlanta, Georgia. Ritva Sotamaa, Chief Legal Officer (首席法务官), joined Unilever in February 2013 as the Chief Legal Officer.

Keith Weed, Chief Marketing and Communication Officer (营销和公关总监), began his career with Michelin and joined Unilever in 1983, moving on to senior positions in France and the USA and global roles. He holds a first-class degree in engineering from the University of Liverpool. Jan Zijderveld, President, Europe, joined Unilever in 1987, moving through a variety of roles in Australasia, Europe, the Middle East and Asia.

Senior corporate officers

Unilever's senior corporate officers are responsible for ensuring that Board meetings and Board committee meetings are supplied with the information they need.

Lysanne was appointed Chief Auditor (首席审计师) as from 1st Jan 2013. She has a degree in chemistry and is a qualified chartered accountant (特许会计师).

Tonia Lovell, Group Secretary, has a degree in law from Sidney Sussex College, Cambridge and was admitted as a solicitor and a member of the Law Society (律师协会) in November 1993.

Charles Nichols, Group Controller (集团审计官), was born in the UK in 1961. He has a degree in chemistry from Jesus College, Oxford and is a fellow of the Association of Chartered Certified Accountants (ACCA: 特许注册会计师协会).

Unit2：Oral Communication

Small talk (1) (p84,021)

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 Hi, there, I‘m Steve Saunders. What‘s your name?

 I‘m Paul Whitney. Isn‘t this convention (conference) great?

 Yes, it is, better than I expected it would be. The presenters have been first rate. Is this the

first conference you‘ve been to?

 No, I‘ve been coming for the last 3 years. Each year keeps getting better. Where are you

from?

 I‘m from Long Island, New York. What about you?  I‘m from the other side of the coast---Los Angeles.

 Wow, I really like California…the weather there is much better than the East Coast.  Have you been to California?

 Just once. Quite a few years ago we took the kids to Disneyland on our vacation. They had a

blast (an enjoyable party 狂欢).  How many kids do you have?

 Two, a boy and a girl. They‘ve already grown now.

 Well, California‘s had changed over the last little while. You should come back out sometime.

Small talk (2) (p84,021)

 Can I get you something to drink?

 No, that‘s okay, I already have a coke. Why don‘t you have a seat, you look like you‘ve been

on your feet (standing) all day.  I guess I could take a break. So how do you like Denver?

 It‘s great. The mountains here are beautiful, and the skiing is spectacular. Have you been here

for a long time?  About 6 years…

 What do you do for a living?

 I manage one of the ski lodges (滑雪旅馆). It‘s a great job, I can spend a lot of my time

outdoors, and I also get to ski for free all season.

 Wow, talk about job perks (附带福利，特权) ! That‘s great. I would like to do something

exciting like that. But I‘m only an accountant. Not too much excitement there, huh?

 That‘s okay. If it weren‘t for you accountants, nobody would have the money to go skiing.

Making telephone appointments(p10,003)

 Hello, Bill Burton speaking. What can I do for you?

 Hello, Mr. Burton. This is Jenny Jenkins of Bradford and Sons returning your call.  I‘m sorry you missed me when you called my office this morning. My secretary said you

called concerning our meeting next Tuesday?

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 Yes, Ms. Jenkins, thank you for returning my call. I‘m glad to finally get a hold of you. I

wanted to let you know I‘ll not be able to make our meeting next Tuesday. I‘ll be out of town that day. Is there any possibility we can move the meeting to Monday?

 I‘m sorry, I‘m afraid I‘m completely booked on Monday. Would it be possible to postpone until you return?

 Oh, dear, I was counting on (指望) taking care of our meeting before I leave, but I suppose I

could shuffle (move, change) a few things. Yes, we can arrange something. I‘ll be back Thursday morning. What about Thursday afternoon? Would that work for you?  That should be fine. Shall we say about 2 o‘clock?

 Perfect. I‘ll look forward to seeing you at 2 o‘clock next Thursday afternoon. If you need to

change the time, please feel free to call me on my cell phone.  Thanks Ms Burton. I‘ll see you on Thursday.

Hotel situations (p56, 014)

 Hello, welcome to Prescott hotel, how may I help you?

 Hi, yes, I had a reservation. My secretary called and booked the room a couple weeks ago.

The reservation should be for a double bed, non-smoking room.  And what name was the reservation made under?  It should be under Steve Johnson.

 Hmm…Let me see… It seems there‘s no Johnson listed for a room for tonight, is there any

other name that your reservation may be listed under?

 No, here is the confirmation number, will that help? It‘s H98007. I had the room booked with

a Visa gold card…

 Oh, yes , here it is…You have a standard double room, non-smoking, on the third floor. I just

need to see some identification, and the credit card you booked the room with, if you don‘t mind.

 Sure, here it is… Would it be possible to check out and pay the bill in the morning? Also, what time is breakfast served?

 There is a continental breakfast buffet from 6 am to 10 am, it‘s in the lobby. Also, you can

settle your bill in the morning, but we require a 20% deposit upfront, but I can just keep a record of your credit card on file. Ok, I‘ve got you all set up, if you could just sign here, and initial (首字母) here…Here‘s your room key. Anything else I can do for you?  Yes, could you call me a taxi, please?

Unit 2 Oral Communication

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Cultural Differences in Nonverbal Messages

Although no one can give a set of rules for interpreting nonverbal messages, being aware of their presence and impact will improve chances of encoding (编码) nonverbal messages effectively. International communication poses particular challenges for proper use of nonverbal signals. At the opening session of Bangladesh‘s (孟加拉国的) new parliament in July 1996, legislators reacted with fury to g gesture by U.S. Shipping Minister A.S.M Abdur Rob. ―This is a dishonor not only to parliament but to the nation,‖ said Dr. A.Q.M. Bardruddoza Chowdhury, the Bangladesh Nationalist Party‘s deputy leader.

What Rob had done to provoke (激起) such anger was to give the thumbs up sign. In the United States, the gestures means ―good going!‖ But in Bangladesh, it is a taunt (嘲弄；奚落) ; in other Islamic countries, it is an obscenity (下流的行为). This example is only one of the huge array of cross-cultural gaffes (gaff: blunder失礼) a naïve U.S. businessperson could make on an overseas assignment.

Becoming familiar with subtle and not-so-subtle differences in nonverbal communication in other cultures can avoid the creation of barriers to effective communication. Some cultural examples of nonverbal behavior include the following:

 The Japanese greet with a respectful bow rather than the traditional handshake. Middle

Easterners may exchange kisses on the cheek as the preferred form of greeting.

 While North Americans believe that eye contact is an indicator of interest and trust, Japanese

believe that lowering the eye is a sign of respect. Asian females and many African Americans listen without direct eye contact. Extended facial gazing as is typified by the French and Brazilians is often seen by Americans as aggressive.

 The time-conscious North American can expect to be kept waiting for an appointment in Central

America, The Middle East, and other countries where the North American sentiment that ―time is money‖ is not accepted.

 North Americans, who often slap each other on the back or put an arm around the other as a sign

of friendship, receive disapproval from the Japanese, who avoid physical contact. Japanese shopkeepers place change on a plastic plate to avoid physical contact with customers.

Numerous research studies point out the importance of nonverbal communication in international negotiations. A 15-year study of negotiation styles in 17 cultures revealed that Japanese negotiators behaved least aggressively, typically using a polite conversation style with infrequent use of ―no‖ and ―you‖ as well as more silent periods. The style of French negotiators was most aggressive, including more threats and warnings, as well as interruptions, facial gazing, and frequent use of ―no‖ and ―you‖. Brazilians were similarly aggressive, while including more physical touching of their negotiating partners. Germans, British, and Americans fell somewhat in the middle in terms of aggressive behavior.

Removing words from a negotiation might at times give the process additional strength by avoiding many of the problems raised by verbal communication in a multicultural context. The negotiation process is the sum of such factors as the number of parties, existence of external audiences, issues to be discussed, deadlines, laws, ethics（伦理，）, customs, physical setting, and so on .The emphasis on nonverbal cues is often lost on American negotiators who rely on the inherent advantage provided by their mastery of global languages. Cultural awareness includes both education and sensitivity concerning behaviors, expectations, and interpretations of persons with different backgrounds and experiences

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Unit3：Making an Order

Placing an order (p24,006)

 Our toner cartridges (墨盒) are already out of ink…Could you make an order for a

new set?

 We‘ll need new cartridges for all of the office printers? That will be a large order,

probably about 2 or 3 cases. The office supply store we usually go through might not have that many in stock.  You can double check (核实，仔细检查) with the housekeeping department (总务部),

but I‘m pretty sure all of the machines will need new cartridges. Last time when we made our order to the supplier, the quantity was also especially high. They‘re used to receiving such bulk orders (大订单) from us. As long as we give them a heads up (提前通知) a couple days in advance, they can usually fill the order.

 Okay, I‘ll make a few calls and run our order by housekeeping first to make sure. Is

there anything else we need to order while I‘m at it?

 I think the only thing is toner. Try to see if they can deliver it before the end of

business day tomorrow. We should really try to do better about waiting until the last minute to fill orders that are usually made on a monthly basis. Anyhow, see what you can do to expedite (加快处理) the order this time.  Okay, will do. 

Placing an order (p24,006)

 My I help you?

 Yes, I would like to place an order for toner cartridges. We have a standing (长期的)

agreement with your company, so we‘ll need the same amount as the last time.

 Let me key in (键入) your information into my computer, I‘ll pull up (调出) our

records for you. Do you have an order number? What name is the order listed under?  It should be under Leslie Smith. The number is 184796 A.

 Yes, Mr. Smith. I have an order for 3 cases of cartridges. Is that what you would like

to refill?  Yes.

 Is this the correct billing address (the address you send the bill to) ?  No, please post the bill to 124 Hildrod Lane, Milton County, 98830.

 I‘ll send you an invoice (，票据) in the next five days, your order should be

delivered before the end of the day on Monday.  Thank you.

Interpretation

 我去打几个电话，先和总务部核实一下。 （I‘ll make a few calls and double check with the

housekeeping department first.）

 让我把你的信息输入电脑，这样我就能调出记录。（Let me key in your information into the

computer, and I‘ll pull up the records for you.）

 那个办公用品商店不可能有那么多存货。 （The office supply store can‘t have so many in

stock.）

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 供货商已经习惯接收我们这么大的订单了。（The supplier is used to receiving such bulk orders

from us.）

 我们和你们公司有长期合同，我们需要和上次数量相同的墨盒。（We have a standing

agreement with you, and we‘ll need the same amount of toner cartridges as the last time.）  在接下来的这几天我就把寄给你，你们的订货应该在周一下班前递送出去。（I‘ll send

you an invoice in the next few days. Your order should be delivered before the end of the day on Monday.）

Press Release

Lenovo Selected as a Constituent Stock of the Hang Seng

Index

HONG KONG--(BUSINESS WIRE)--

The Hang Seng Indexes Company today announced that Lenovo (0992.HK) (PINK SHEETS: LNVGY) will be included as a constituent stock of its Hang Seng Index. This selection positions Lenovo among the ―blue chip‖ companies listed on the Hong Kong Stock Exchange and represents significant market recognition of Lenovo‘s leadership position in the global IT industry.

It is also significant because it broadens the group of shareholders that will consider owning Lenovo‘s stock to include funds whose investments must mirror the Hang Seng Index or pension funds whose investment committees look for index inclusion as an investment criterion. Finally it reflects recognition from a respected 3rd party of Lenovo‘s strong, consistent financial performance, outstanding management and its strong future growth prospects.

\"We are very pleased today that Lenovo has been included as one of the constituent stocks of Hang Seng Index,‖ said Yang Yuanqing, chairman and CEO, Lenovo Group. ―This news comes following another record quarter reported last week, that demonstrated Lenovo's ability to consistently drive growth, improve profitability and establish itself as one of the leading global technology companies. Not only have we become a global PC market leader, but we are also now recognized as a leading innovator defining the PC Plus era.\"

Lenovo has reported its best quarter ever last week, in which it has continued to outgrow the market in all geographies with record sales, earnings and global PC market share. The company delivered another quarterly sales record of $9.4 billion, a 12 percent year-over-year increase, while it has been the fastest growing major PC company for 13 straight quarters.

Lenovo has built momentum towards being the world‘s leading PC maker while at the same time rapidly expanding its PC Plus footprint – including smartphones, tablets and smart TVs that will drive future growth. At the same time, Lenovo was also recognized by IDC as the world‘s third-largest maker of \"smart connected devices,\" such as tablets, PCs and smartphones. Last quarter, Lenovo‘s Mobile Internet and Digital Home business contributed 11 percent of global revenue – a record high and strong indicator that the company is delivering strong growth in the PC Plus market. ―The market has clearly demonstrated confidence in Lenovo's ability to meet its commitments, maintain steady growth in a tough environment and execute a strategy that not only delivers strong short-term results, but also lays a solid foundation for our long-term performance. We are very proud that the Hang Seng Index has recognized this performance and are confident we can continue to deliver outstanding results, profitable growth and sustainable, long-term returns for our shareholders,\" Yang continued.

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ABOUT LENOVO

Lenovo (0992.HK) (PINK SHEETS: LNVGY) is a US$30 billion personal technology company – the second largest PC maker in the world and an emerging PC Plus leader – serving customers in more than 160 countries. Dedicated to building exceptionally engineered PCs and mobile internet devices, Lenovo‘s business is built on product innovation, a highly-efficient global supply chain and strong strategic execution. Formed by Lenovo Group’s acquisition of the former IBM Personal Computing Division, the Company develops, manufactures and markets reliable, high-quality, secure and easy-to-use technology products and services. Its product lines include legendary Think-branded commercial PCs and Idea-branded consumer PCs, as well as servers, workstations, and a family of mobile internet devices, including tablets and smart phones. Lenovo, a global Fortune 500 company, has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina. For more information see www.lenovo.com.

Unilever reduces waste by one million household bins while

growing business

London/ Rotterdam, 24 January 2013 – Unilever today announced that more than 50% of all its factories have achieved the goal of sending no waste to landfill in 2012.

This goal was achieved while the company reported annual sales of €51 billion – up from €40 billion when Unilever set out its new vision of doubling the size of its business while reducing its environmental impact and increasing its positive social impact. Unilever has already reached the milestone of 100% of sites sending zero waste to landfill in 18 countries. This achievement is equivalent to removing more than one million household bins of waste every year.

Over 130 Unilever factories across the world, from Costa Rica to Japan, send no non-hazardous waste to landfill, up from 74 at start of the year. Key driver for this achievement is the elimination of waste in the factories. Additionally waste is reduced, reused, recycled and recovered (extract for reuse 回收利用). Under its Sustainable Living Plan, Unilever announced that by 2020, total waste sent for disposal will be at or below 2008 levels - despite producing significantly higher volumes. Today, Unilever is stretching the original target even further by bringing the 2020 commitment 5 years forward. A total of 252 factories across the world will not send any non-hazardous waste to landfill by end of 2015.

Tony Dunnage, Unilever Eco-Efficiency Manager said: \"This is a significant achievement for Unilever as we make progress towards reaching our ambitious sustainability goals. It's a great example of how we are putting our sustainability strategy into action—by decoupling (separate: 使分离) the growth of our business from its environmental impact. Today's landmark demonstrates how our factories are more environmentally responsible, which is helping us to save money to invest in our business. Having over 130 sites not sending waste to landfill equates to a cost saving of almost €70 million, all achieved without the need for capital expenditure.‖

Unilever is implementing best practices from all over the world, actively using the global supply chain network, to create more environmentally responsible factories. By using the ‗design once and deploy (bring into effective action, utilize: 有效利用) everywhere‘ philosophy, the company is driving a sustainable model that is good for the environment and saves costs. Every new factory will produce 50% less waste than 5 years ago and will not send any non-hazardous waste to landfill by design.

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Where reduction of waste is not sufficient it will reuse, recover or recycle waste to reach 0-waste to landfill. For example, in Russia Unilever collects a few tonnes of perforated (打孔的) tea bags annually and this is sold in pet shops as animal bedding, used for wallpaper, etc. In Hefei (China) Unilever reduced plastics to wrap boxes on pallets by replacing it with reusable elastic fabrics.

Unilever wins 2013 Catalyst Award for gender diversity

NEW YORK (January 24, 2013) – Unilever, one of the world’s largest consumer goods companies,

was today named as a winner of the prestigious 2013 Catalyst Award, for its initiatives that expand opportunities for women and business.

Unilever was a joint winner of the award with Alcoa Inc. and The Coca Cola Company.

―This year‘s Catalyst Award-winning initiatives (举措) demonstrate that global gender diversity strategies at multinational corporations can be implemented in a way that meets the needs of local regions and businesses,‖ said Ilene H.Lang, President & CEO, Catalyst. ―And they are all championed (supported) by male CEOs who understand the strong business case for including women in top leadership and have made women‘s advancement a top organization-wide priority from day one.‖

Unilever CEO Paul Polman said: ―We are delighted to be recognised by Catalyst for our long-standing (长期的) commitment (承诺) to gender balance. From our successful mentoring programme to our roll-out (official launch of a product or service: 上市，推出) of flexible working, I am very encouraged by the progress we are making to help both men and women at Unilever reach their full potential.\"

―To achieve our company‘s ambition of doubling the size of our business whilst reducing our environmental impact and increasing our positive social impact, it is crucial that we build a diverse and engaged workforce where everybody can develop to his or her full potential. The benefits of having a gender-balanced organisation are plain to see; it helps power creativity and innovation, deepens the talent pool and allows us to better serve our diverse consumer base (消费者群体).‖

Since 1987, Catalyst has recognized exceptional business initiatives that advance women in the workplace with the Catalyst Award, which embodies(体现) Catalyst‘s vision (愿景) of ―Changing workplaces, Changing lives.‖

Unilever‘s initiative, ―Global Reach With Local Roots: Creating a Gender-Balanced Workforce in Different Cultural Contexts‖, accelerates the advancement of high-potential women across different regions and leverages the company‘s strong foundation of cultural diversity and multinational expertise to promote a culture of inclusion.

Alcoa Inc., The Coca-Cola Company, and Unilever will present in-depth discussions on their initiatives at the 2013 Catalyst Awards Conference at The Waldorf Astoria in New York on March 19, 2013. The Conference, which is sponsored by Wal-Mart, will feature (have…take an important part in：有…起重要作用) keynote speaker Ursula Burns, Chairman and CEO, Xerox Corporation.

In the evening, the 2013 Catalyst Awards Dinner, sponsored by RBC and Shell Oil Company, will be chaired by Denise Morrison, President and Chief Executive Officer of Campbell Soup Company. Close to 100 CEOs of major multinational corporations and firms are expected to attend, along with nearly 1,600 guests, including leaders of major corporations, firms, academic institutions, and non-profit organizations.

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Unit4：Corporate culture

Employment practice (p340,085)

 Have you heard anything about Markheed Inc.? They have called me back for an

interview, and I am considering taking a job with them.

 Well, to start with, Markheed Inc. has a reputation for being one of the best

employers in the field.

 The best, huh? With so many companies out there, how did they establish themselves in such a solid position on top?

 First of all, they have an excellent benefits package （福利包）for all employees;

even the maintenance staff have health and dental coverage (保险范围).  Really? What about the pay rate? Are the wages pretty high?  From what I hear, they are very reasonable. A lot of the prestige the company has built is because they have attracted some high-profile employees with their incentives （激励措施，积极性）.

 Well, what about the work environment? Not everyone is motivated solely by

money?

 It‘s a great place to work. They give you fair pay and benefits, and a lot of room to grow. I think if they offer you a job, you should definitely take it.

Employment practice (p340,085)

 Are you working overtime again? Over the last two weeks, you have worked

overtime every day without a break! Your company is draining the life out of you (要累死你们)!

 I know, but I don‘t have a choice. My boss has complete control over our work schedules. I haven‘t made it out of the office before 9 pm a single day this week.  Well, I hope they are paying you the big bucks for all this work…

 No, not exactly… I am working for minimum wage. And they don‘t give extra pay for overtime. Overtime is our own time.  What? Isn‘t there a law against that? I think there is some legislation （立法）that

requires employers to give their employees a fair rate of wages. You should know your rights! If you are putting in (put in: 投入，用) so many hours, they should give you some kind of compensation （薪水，补偿金）. They do give bonuses (奖金) at the end of the year for the employees with the highest productivity numbers… but frankly, it‘s not much of an incentive. They give us a bonus of $10.  That‘s just wrong! Why don‘t you just quit?

 I would, but I‘m afraid maybe I wouldn‘t be able to find another job. I don‘t have

very many job marketable skills… there aren‘t so many jobs I am qualified for.  It sounds like any job would be better than the one you have now.

China deposit insurance paves way for deregulation of interest

rates

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China will launch a long-awaited deposit insurance system next month, the central bank said on Tuesday, a crucial step towards deregulating domestic interest rates and promoting market-based capital allocation.

Zhou Xiaochuan, the central bank governor, told reporters last month that China could remove the cap on bank deposit rates — the last remaining domestic interest rate subject to administrative regulation — by the end of this year.

Deposit insurance lays the foundation for freeing up rates by ensuring that savers are protected even if competition for deposits leads to excessive risk-taking and bank failure. The People‘s Bank of China said deposits up to Rmb500,000 ($80,600) would be insured.

―Deposit insurance is a precondition for interest-rate liberalisation. The implementation of the system means rate liberalisation is speeding up,‖ said Tao Wang, greater China economist at UBS in Hong Kong.

Economists say lifting the cap on bank deposit rates will lead to higher interest rates as banks compete for funds. That should improve capital allocation as lenders seek out more productive borrowers able to afford higher rates, including small, privately owned businesses that have long struggled to obtain bank loans.

The PBoC was widely expected to launch deposit insurance last year but bankers say behind the

scenes wrangling led to delays. Larger banks resisted a structure that would have forced them to pay a disproportionate share of insurance premiums, in effect subsidising smaller lenders that are most likely to fail.

The details of the system largely match those of a draft plan released in late November last year. Analysts said at the time that the Rmb500,000 limit would fully cover about 98 per cent of Chinese depositors, though the large share of deposit funds held by wealthy savers means that would still leave a significant chunk of the banking system‘s Rmb126tn in deposits uninsured.

Citing the experience of other countries, the International Monetary Fund has previously said that the rollout of deposit insurance could lead to deposit outflows from smaller banks, as it highlights bank failure as a realistic possibility and explicitly defines some deposits as unprotected.

Almost all Chinese banks are state-owned, and domestic savers have traditionally viewed all bank deposits as carrying an implicit government guarantee.

In reality, even with deposit insurance in place, analysts remain sceptical that China‘s government — with its focus on financial and social stability — would allow a bank failure. A series of technical defaults on risky high-yield debt has been permitted in recent years, but in each case the government ended up bailing out retail investors.

The PBoC added that it could adjust the insurance limit if economic conditions change. The central bank will manage the deposit insurance fund, which can invest in government bonds, central bank bills, and other high-rated bonds.

China loosens credit and tax policies to stimulate housing

market

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China has moved to support its flagging property market with looser credit and tax policies, as the government tries to prevent a construction slowdown from dragging down the broader economy. The central bank moved on Monday to slash the minimum downpayment required on second-home purchases to 40 per cent — from 50 to 60 per cent in most cities and 70 per cent in Beijing and Shanghai — reversing measures enacted in 2010 to curb runaway housing prices and rein in speculative demand.

The finance ministry also expanded a capital-gains tax exemption to include sellers who have owned their home for as little as two years, rather than the previous five-year minimum. Like the

downpayment rules, capital-gains taxes had been used to discourage the reselling — or ―flipping‖ — of homes within a short period to make a profit.

Housebuilding is a pillar of China‘s economy, driving demand for steel, cement, copper and other basic materials. The property market accounts for about 23 per cent of gross domestic product when sales, outfitting and other linked industries are included.

―Recent macro data indicate that downward pressure on the economy remains heavy,‖ said Xie Yaxuan, a macroeconomic analyst at China Merchants Securities in the southern city of Shenzhen. ―Policy makers needed to respond.

―Adjusting downpayments on second homes will help to unlock some demand for housing and stabilise the market and hopefully investors‘ and households‘ willingness to buy along with it.‖ Monday‘s measures follow a directive last week by the land and housing ministries instructing local governments to restrict new land sales and buy back some land that had been sold but not yet developed.

The downpayment rate for first-home purchases remains unchanged at 30 per cent, though many regions had already loosened the definition of first-home purchasers late last year to include people who had paid off their mortgage on a first home that was also shared with a family member. An index tracking Shanghai-listed property shares rose 7.3 per cent on rumours of the impending policies, compared with a 2.6 per cent gain in the Shanghai Composite.

Some analysts remain sceptical about the impact of the changes, noting that many developers were already offering buyers ways to delay or avoid downpayment requirements.

Competition for investment funds from the country‘s red-hot stock market has also hurt demand for housing. The Shanghai Composite hit a fresh seven-year high on Monday.

―I brought some investors to visit Tier 2 cities over the weekend and found home buyers there were not as excited by the news [of impending downpayment policies],‖ Jinsong Du, Asia property analyst at Credit Suisse in Hong Kong, wrote in a note on Sunday, when rumours of the policy announcement were already circulating.

Establishment of AIIB to bring myriad of advantages

HANOI -- The establishment of the Asian Infrastructure Investment Bank (AIIB) initiated by China is expected to bring many advantages to the region, said a Vietnamese expert.

14

Tran Viet Thai, deputy director of the Institute for Foreign Policy and Strategic Studies, under Vietnam's Ministry of Foreign Affairs' Diplomatic Academy, made the remark in an interview with Xinhua on Thursday about the launch of the AIIB.

The expert held an optimistic view over the establishment of the AIIB, saying that the bank has more advantages than other financial institutions.

\"First of all, the Chinese government has showed a strong determination over the establishment of AIIB. Moreover, AIIB has an enormous financial potential. Initially, the bank can use US dollar as its currency. After becoming operationally stable, the bank's loans may be in Chinese Renminbi. Thirdly, being born after the world's other international financial institutions, the AIIB has a chance to learn from the experience of its forerunners. The last advantage is about huge domestic and overseas human resources joining the Chinese banking system,\" Thai explained.

Forecast to be put into operation by the end of this year, the AIIB is expected to create more capital mobilization channels for countries in Asia in infrastructure development, especially developing countries in the Southeast, Central and Southern Asian regions, according to the expert.

In the past few days, the upcoming establishment of the AIIB has drawn a great deal of attention from experts and analysts worldwide. The number of countries applying to be founding members of the AIIB rose to around 50 by the March 31 deadline.

The AIIB is an international financial institution proposed by the Chinese government. The purpose of the multilateral development bank is to provide finance to infrastructure projects in the Asia region.

According to Thai, one reason that China decided to establish the AIIB is that the country's foreign exchange reserve is at high level and it is ready for the AIIB's development projects.

Thai quoted statistics as showing that as of the end of 2014, the total foreign exchange reserves of China reached around $4 trillion.

At the same time, interest rates of the US government bonds kept decreasing, so profit from buying US government bonds is not as much as it used to be.

While looking at the experience of the Asian Development Bank (ADB), Thai said the appearance of the AIIB lays the foundation to create competitiveness among the existing financial institutions, urging them to boost reforms and increase their operational efficiency.

\"The AIIB brings irresistible soft power to many countries,\" proffered Thai.

The establishment of the AIIB has raised debate all over the world recently. Many think that the launch of the AIIB poses a challenge to the world's existing financial institutions which are under the influence of the United States and Europe.

Some analysts even think that the establishment of the AIIB can contribute to demolish the global economic order that has been maintained for the past 70 years.

Thai expressed his opinion over the debate, saying that: \"Nowadays, world order is changing. Emerging countries like China, India, Russia, and South Africa are rising strongly. The G7 has turned into the G20. A new world order is evolving, including new world financial and monetary order. With such change, the countries' reaction is normal.\"

According to Thai, \"Whether the establishment of the AIIB destroys the existing order or becomes a supplement to it, remains a question to be answered. In the near future, after the AIIB comes into

15

operation, the answer to such a question will be found. However, the initial establishment of the AIIB will certainly bring advantages.\"

Silk Road initiatives to produce tremendous business

opportunities

LONDON -- China's initiatives on building the Silk Road by land and sea will not only benefit the peoples in the region, but also provide tremendous business opportunities for Western businesses, British experts have said.

\"The initiatives are probably the greatest opportunities for business in the world over the next 30 to 50 years,\" said Stephen Perry, chairman of the UK-based 48 Group Club, at a forum on Silk Road by Land and Sea at Cambridge University on Friday.

Noting that the business opportunities are \"greater than anything that can occur,\" Perry said Western companies are ready to participate in the Land-Sea Silk Road initiatives -- namely the initiatives on building the Silk Road Economic Zone and the 21st Maritime Silk Road brought up by China in 2013 for improved cooperation with countries in a vast part of Asia, Europe and Africa.

The Land-Sea Silk Road initiatives, also known \"one Zone and One Road\" are expected to undergo \"an incredibly complicated process,\" and bring about unprecedented dynamics for business around the world including British companies, Perry said.

Just think of what cities airlines including British Airways, Cathy Pacific and Air China will be flying to in 20 years of time, he said.

The opportunities presented by the \"One Zone and One Road\" initiatives would be \"phenomenal,\" Perry added.

Peter Nolan, director of Cambridge's Center of Development Studies, noted infrastructure development in the region is an essential part of the \"One Zone and One Road\" initiatives.

People in the region will benefit enormously from the initiatives, Nolan said, noting the existing railway and road systems in parts of central Asia are extremely antiquated.

Tracing the history of the ancient Silk Road, Nolan said China has had \"a deep interaction\" with the region for over 2,000 years, while the West's relationship with the area has been relatively brief.

\"This contrast should be borne in mind particularly in the West in trying to think about how to engage peacefully with China,\" he continued.

Nolan also predicted a fierce competition for high value-added and high-profit business in the region.

As Chinese firms have been quite successful in infrastructure construction sector, it is suggested they seek more presence and engagement in the high value-added part of the initiatives, said the globalization and world economy expert.

The Forum on Silk Road by Land and Sea, hosted by the Chinese Students and Scholars Association in Cambridge, was part of a series of cultural programs at the university aimed at promoting links between China and Britain.

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Tax plan to support the Belt and Road Initiative

The State Administration of Taxation announced on Tuesday that it is drawing up a taxation plan to better support the Belt and Road Initiative, said Wang Jun, director of the administration.

The government will provide better taxation management and services to an increasing number of Chinese companies that have established their brands outside the country, Wang said at a taxpayers' conference in Beijing.

Some well-regarded companies in China attended the meeting. Railway manufacturer CSR Corp and Huawei Technologies Co Ltd said the implementation of the Belt and Road Initiative has paved the way for Chinese enterprises to invest overseas, however they increasingly faced difficulties in taxation.

\"The overseas tax environment is relatively complex. In some countries, law enforcement is not standardized,\" said Li Dafeng, vice-president of the finance sector at Huawei.

Wang said the related taxation departments are working to improve the taxation system to serve Belt and Road Initiative related projects.

\"In addition, tax reform is shifting toward green taxation. We plan to strengthen the taxation support to environmental protection sectors. We have already reported the environmental protection tax plan to the State Council, whereas taxation itself won't solve all the problems. Coordination with other departments remains necessary,\" Wang said.

Related story: China's Belt, Road initiatives not geo-strategic tool: official, by Xinhua

China's Belt and Road initiatives will facilitate economic cooperation and will not act as a geo-strategic tool, a senior foreign affairs official said Saturday.

The initiatives do not target particular countries or international organizations, said Vice Foreign Minister Zhang Yesui at the China Development Forum in Beijing.

The Silk Road Economic Belt and the 21st Century Maritime Silk Road, proposed by China in 2013, follow the principles of joint consultation, construction and sharing. It will be an open and inclusive platform for regional cooperation, taking into full consideration the position, interests and convenience of every side, Zhang said.

China and the United States share much common interests and space for cooperation in the Asia Pacific, which should become a region of priority to build a new model of major-power relations between the two countries, he said.

He also noted that the planned Asian Infrastructure Investment Bank (AIIB), which would finance infrastructure construction along the belt and road, conform to the needs of the region and complement existing financial institutions.

China is a participant, builder and contributor to the current international order and system, Zhang said.

The country has always safeguarded post-war international order with the United Nations at its core. China also advocates reform in accordance with the development of situations, promoting democratic international relations and law-based global governance, he said.

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Unit5：Company organization

Company organization (p136,034)

Tell me a little more about your company organization.

Certainly. Here is a copy of our company profile (公司概况) for your review. We are

divided up into a three tier(层，级别) system. The first tier is our executive branch, which includes the CEO and Board of directors. Below that is our managerial tier, which includes all department heads and supervisors. Lastly our laborial tier. What percentage of your employees fall under the laborial tier?

Nearly 75% of all employees are considered laborial staff. Now, the laborial staff category is very broad. It includes maintenance crews, secretarial staff, account managers, sales representatives, any entry level (入门级，初级) positions, cafeteria workers, the janitorial staff… As you can see, a very large and varied categorization (分类).

I see. Now then, how many Laborial staff members do you have working under you? Me personally? Well, I am the head financial officer, so in our financial department, we have three accountants and one financial secretary.

Board of directors (p128,032)

So tell me, what‘s the difference between the Board of directors, the CEO, and the

stockholders? They all seem to be the same group of people to me…

No, there‘s a definite difference. You know, the stockholders are the people who own the company…they‘re the financial control system. Then there‘s the CEO, the chief executive officer. He‘s the hot shot (高手，能人), the main guy who is the boss. If there‘s only one person with absolute power in an organization, everyone knows the power will go to their head(权利会冲昏他的头脑). It‘s too dangerous. That‘s the reason for a Board of Directors. The board is made up of people who are experts in the industry. They could be related to the organization, but more commonly, they are independent and non-biased (不带偏见的).

How many people are on the board of directors?

Usually not more than 15, not less than ten. They meet monthly, quarterly, or biannually to oversee an organization or company. They provide long-term planning and vision, and also act as moral watchdogs to keep the company in line (under control).

Stockholders (p124,031)

How often are stockholders meetings held? Stockholders

meetings are held biannually. Usually the meetings are scheduled for

spring and fall. In between the meetings, each stockholder receive biannual reports. Financial statements (财务报表) are made once a year.

What percentage of the stockholders actually attend the meetings? I‘m guessing not a large percent…

You‘re right. It‘s a low percentage. Also, in order to attend meetings, you have to hold a certain amount of shares. It‘s quite a large number, so most of the stockholders are excluded from proceedings(会议程序，会议记录). So, how much say do the stockholders really have? Unless they‘re united, very little…

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Stockholders (p124,031)

At their last meeting, the stockholders voted unanimously (全体一致地)to block the

merger (合并) of our company with Blycore. All the executive committee was in favor of the merger… I don‘t understand how the stockholders could have so much power to throw a wrench (阻碍，破坏) in the plans…

If they all unite on a certain issue, it‘s the stockholders who have the final say (最终的话语权). You‘d think it might be our CEO or the workers, but in fact, the stockholders control the money so they have the most power.

Is it really that simple? It doesn‘t seem very efficient to run things that way…

It might not be the most efficient, but if you think about it, it makes pretty good sense. The stockholders are our investors. They own the capital in our company. So they should have say about what is done with the company.

I guess I‘d buy (accept, willing to believe 相信) that…

Alibaba shares surge in their NY stock market debut

Alibaba's shares closed significantly above their initial price on the New York Stock Exchange (NYSE) on Friday, a sign of the excitement surrounding the Chinese internet giant.

Shares in the company made their debut in the US at $92.70 (£57), after being priced at $68 late on Thursday.

They ended the $93. - 38% above the initial asking price.

More than 100 million shares were traded in the minutes after the stock was launched - more than Twitter.

Earlier in the day, founder and chairman Jack Ma rang the opening bell.

The NYSE was festooned with the orange and white logos of the company to herald its arrival on public markets.

The company raised nearly $21.8bn in its share sale, indicating strong investor appetite for China's e-commerce giant.

Alibaba is now valued at $231.4bn - making it significantly larger than Amazon and . If Alibaba's bankers decide to take up an option in which they can purchase 48 million shares themselves, then Alibaba's launch will have raised nearly $25bn - breaking the previous $22.1bn record set by China's Agricultural Bank in 2010. A way in

Alibaba operates a series of online marketplaces in China and elsewhere, handling more transactions than Amazon and eBay combined.

It is responsible for more than 80% of online e-commerce in China.

Alibaba's share sale is being viewed as a way to invest in e-commerce growth in China. Already, the country is home to the largest population of internet users on the planet - and most estimates say that only half of China's 1.3 billion residents have signed online.

That is why investors have been angling for some time to get a piece of Alibaba - long the market leader in e-commerce in China.

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However, investors are not buying shares directly in Alibaba's companies operating in China, but rather in a holding company in Cayman Islands which has a profits contract with Alibaba. That has made some wary, and it is one reason why Alibaba did not list on Hong Kong's stock exchange. New millionaires

Either way, the sale is expected to make millionaires out of a large number of the company's managers, software engineers and other staff.

Currently Alibaba's single largest shareholder is Japan's Softbank which holds a 32% stake. US search giant Yahoo also has a stake.

The firm made a profit of almost $2bn in the three months to the end of June, with sales up by 46% year-on-year to $2.54bn.

Analysis: Michelle Fleury, New York Business Correspondent

Wall Street was painted orange this Friday, the colour of Alibaba. The distinctive exterior of the New York Stock Exchange was hidden behind a giant sign for the Chinese e-commerce giant. And the

branding was even more visible inside. Traders at the spot on the trading floor where Alibaba made its debut were given branded raincoats. One told me 'it's raining cash'.

As the start of trading got closer, those closest to the action shouted out prices to nearby specialists - an old-fashioned method in a high tech market. Alibaba founder Jack Ma stopped to chat and shake hands with several traders as anticipation built up ahead of the first trade.

Such is his cult status back home, there was also a crowd outside the exchange. Chinese fans waited, hoping to catch a glimpse of the man whose success has turned this internet fledgling into a company with a market capitalisation close to that of supermarket giant Walmart. (Source: http://www.bbc.com/news/business-29282407) (19 September 2014 Last updated at 20:31)

Alibaba founder Jack Ma tops China rich list

Alibaba founder Jack Ma has become China's richest person following his company's record listing, according to a wealth survey by the Hurun Report.

Mr Ma tops its annual rich list with a fortune of $25bn (£15bn), followed by Wanda Group chairman Wang Jianlin.

Internet billionaires account for five of China's 10 richest people this year, eclipsing property tycoons who have traditionally dominated the list.

The list also includes the head of Tencent, Pony Ma.

Other tech titans on the list include the co-founder of Chinese search group Baidu, Robin Li, and the founder of online retailer JD.com, Richard Liu Qiangdong.

Mr Liu, who is ranked 10th on the super-rich list, also saw his company listed in New York in August this year.

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Hurun Report chairman and chief researcher Rupert Hoogewerf said the list shows \"the entrepreneurial spirit that has caught China seems not to be abating\".

\"Jack Ma is the 11th Number One we have had in China in the last 16 years, showing the dynamism of the Chinese economy, and a stark reminder of the growth potential that is being realised in the emerging markets\". Property hit

The Hurun Report's rich list is one of the most closely-watched and accurate assessments of wealth in China. The annual report has been published for the past 16 years.

Individuals or families required at least $2.3bn this year to make it onto the list, which is more than 15 times the amount needed a decade ago.

There are a record 354 so-called \"dollar billionaires\" in China this year, Hurun said, which is a 13% increase from last year.

Overall, the total wealth of the 1,271 people on the list is worth $1.4tn this year.

Hurun said it had been \"an amazing year\" for the online retail and other IT sectors and a \"good year\" for entertainment, investments, cars, renewable energy, pharmaceuticals and manufacturing. On the flipside, Hurun said it had \"been a bad year for steel and shipping\" and that real estate \"could have done a lot worse, bearing in mind the state of the market\".

The world's second-largest economy has been slowing down amid concerns its property sector may have overheated and that levels of local debt are too high.

As a result, the government has unveiled measures meant to cool the housing market, which has seen growth stall for several quarters.

Perhaps reflecting this shift, four of the six property tycoons in last year's top 10 list have dropped down the rankings.

Volunteering Abroad to Climb at I.B.M.

By CLAUDIA H. DEUTSCH

In July, a team of 8 to 10 IBM employees will travel to Ghana to help tiny businesses make their operations more professional. Another team will help entrepreneurs seek microloans in Turkey, while yet another will create training programs on information technology in Vietnam.

The projects, which were devised by I.B.M.‘s citizenship group and are being coordinated through nonprofit organizations, have all the trappings of corporate philanthropy. But that is not why they were created, or how they are being used.

―This is a management development exercise for high-potential people at I.B.M.,‖ said Randy MacDonald, senior vice president for human resources.

Many multinational companies insist that promising executives do stints in their overseas offices. And many will free employees to do pro bono work at community organizations. But I.B.M.‘s program,

21

which it calls the Corporate Service Corps, stands out on several counts. It uses the volunteer ethos to bring together employees who might otherwise never meet, even as it gives I.B.M. a high profile in countries where it does not yet have a significant presence.

―I.B.M. doesn‘t have a big footprint in a lot of these places,‖ said Kevin B. Thompson, the senior program manager in corporate citizenship who is running the Service Corps project. ―And their experiences will be a lot more useful than research that says, say, that the Internet has a 12.7 percent penetration rate.‖

Management experts say I.B.M. is onto something.

―As a development tool, this is a four-for-one,‖ said Allan R. Cohen, dean of the Olin Graduate School at Babson College, near Boston. ―It‘s stretching to work in another culture, to work in a nonprofit where the measurement of accomplishment isn‘t clear, to take a sabbatical from your everyday routine and to learn to accomplish things when you can‘t just bark orders.‖

Indeed, Paul Ingram, a management professor at the Columbia Business School, is planning a similar program for this fall, in which executives attending the school‘s Senior Executive Program will work with nonprofit groups in New York. Because 80 percent of the students are not from the United States, the New York location is outside their comfort zone.

―The fact that you are an excellent programmer or salesman, or can lead a project in your own area and culture, doesn‘t mean you can be a great leader outside of your technical or cultural expertise,‖ he said.

That is I.B.M.‘s logic as well. The company views the Service Corps as a way to learn how well employees work with strangers, in strange lands, on unfamiliar projects. And it plans to use that knowledge to customize further development programs for the participants.

Clearly, the Service Corps concept sits well with the I.B.M. employees. More than 5,500 of them, from more than 50 countries, applied for the program. I.B.M. narrowed the pool to those who had been designated as fast-trackers, who had familiarity with volunteerism and who submitted the best short essays on how participation would help them develop as leaders. The applications of those that passed that first cut were sent to the heads of I.B.M.‘s eight geographic regions, who chose which of their employees to send.

The final list comprises 100 people from 33 countries, who will form 12 teams that will be deployed to projects in Romania, Turkey, Vietnam, the Philippines, Ghana and Tanzania. I.B.M. said it would select another 100 before the end of the year and have a total of 600 participants over the next three years.

The first projects will not begin until July, but the team members are expected to immediately begin studying the countries they will visit and their cultures.

They will also begin interacting with one another, possibly through a virtual venue, similar to Second Life, that I.B.M. will set up. Each team will have electronic ―facilitators,‖ executives who are well versed in the countries they will visit and the types of businesses they will be advising.

After their four-week trips, the participants will go through two months of intensive debriefing to discuss what they learned about leadership — and about the countries they visited.

―It feels good to help in a developing country, even as you enhance your career,‖ said Julie T. Lockwood, 31, a supply chain manager at I.B.M. in Boulder, Colo., who will be on the Ghana team. ―This will help my internal résumé more than an assignment in a developed country.‖

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Unit6：Marketing

Sales review (072, p288)

 Did you see information on sales for last year? The sales review was made at our last

board meeting. There is great news for our shareholders.

 Yeah, I went over the figures this morning. We‘ve finally started making money

again!

 We‘ve never sold this much before, our growth this year has been

phenomenal(remarkable显著的). We have captured 8% of the market, up from last year by 120%. Our strategy is working!

 Not only did our annual sales break a record, but our month by month earnings

exceeded our forecast as well. After a two year slump (decline), we‘ve finally back in the black.

 The company‘s performance has improved since Wallace became president. He‘s

made our little business into a real lucrative (profitable)operation. Products are selling like hot-cakes (selling very well).  I think our success is partly because of Wallace‘s contribution, and partly because of

the new advertising campaign, we have become the top sellers in the field.

 Lets‘ hope this stroke of good luck lasts. I hope we are over our financial

difficulties for good. But it‘s still too soon to know if our sales success is a long term trend.

 Let‘s hope it is!

Sales review(072,p288)

 Give these sales figures a look. It‘s pretty depressing. We are way in the red (赤字)

this year. We can‘t afford to keep going like this for much longer.

 You‘re right. We need to start making money soon, or at least manage to break even(收支平衡，不亏不赢). But I think that market is slowly beginning to heat up—Sales are bound to pick up (好转) anytime now.

 Demand is dropping. The problem is our competition. They are monopolizing (垄断)

the market!

 Maybe we should rethink our marketing strategy to include the possibility that our

new line of cosmetics (化妆品系列) could be a big seller.

 It‘s really too early to tell, but a lot is riding on (ride on: depend on 依靠) the new

products. If we don‘t do better after the product launch, we may have to go bankrupt.  Do you think it‘s that serious?

 Look at these numbers and see for yourself. Read them and weep.  My goodness, I didn‘t realize it was that bad.

Promotional events (068,p272)

 What kind of promotional events are scheduled for the new product line?  Marketing has us set up with product launches (产品发布，产品投放) in five major

cities, as well as some sponsoring events throughout the year. All together, there will be 15 events.

 What kind of sponsoring are we talking about? I don‘t know how effective

sponsorship really is…

23

 It‘s not what you are thinking. These events will give us a wider exposure (曝光)

than most. Take the tri-city marathon for starters(首先). This is a highly publicized event. The television exposure alone will nearly double our customer awareness.  Other than the marathon, what else is on the list?

 We‘ve got a spot (位置) in the Olympic stadium sponsoring one of the team‘s

equipment, then a rally(集会) for cancer research, and a connection to the inner-city (旧城区) education program.

 Sports, medicine, education…seems kind of random(随便的，乱的), don‘t you think?  It might seem that way, but these events were all carefully chosen based on

marketing research… These are the events that our customers and potential customers care about.

Selling points (070,p280)

     

What kind of car is best for me?

For you, I would recommend this one here.

The compact(紧凑的；小巧的)? Why do you think this one is better than the others? This automobile is just right for your needs because not only is it compact for ease in city driving, but also, it has many safety features. I know that as a parent, you are concerned about safety in driving your kids to and from school. That‘s true. What kind of safety features are we talking about?

This model features anti-lock brakes(防锁制动装置), airbags on both driver and passenger sides, and impact collision design. But that‘s not all. This car isn‘t only safe, but it‘s also very economical(经济的).

You mean it has a cheaper price than similar models?

Yes, the price is very affordable, but driving this car, you‘ll also notice a significant annual saving in gas consumption. The main attraction of this model is the fuel economy(省油).

With the cost of gasoline these days, that is a big plus (advantage 优势). I think this model may be just what I am looking for.

Why don‘t you take it for a test drive, and think it over.  

 

Scared of another selloff? Go global

Despite volatility, world markets offer enticing opportunities. Fortune's Katie Benner asked four top fund managers for their best picks.

By Katie Benner, Fortune reporter

(Fortune Magazine) -- Foreign stocks? Are you kidding? Not at all. Even though the markets are bumpy today, global stocks have outperformed U.S. equities since 2002, with the MSCI EAFE index, a widely followed foreign stock benchmark, delivering an average annual five-year return of 15 percent, vs. 6.2 percent for the S&P 500 (through Dec. 31).

And the recent worldwide selloff hasn't dimmed optimism. While many markets saw declines of 3 percent or more in late February - and some strategists foresee more volatility ahead - few observers were surprised by the slide.

\"It's healthy to have a correction, because markets should not go up in a straight line,\" says Juliet

24

Cohn, a manager at Principal Funds. Many market watchers, including Cohn, say the U.S. will continue to underperform the rest of the world. Among the trends that she and others say support continued strength overseas are the global capital glut and the weak dollar. Emerging markets are still attractive to many fund managers because of improving fundamentals and low inflation rates.

Survive a market drop - and make it work for you

To uncover fresh opportunities abroad, we asked four top foreign mutual fund managers for their best ideas. (Unless noted, all stocks trade as ADRs on U.S. exchanges. You can buy stocks on foreign exchanges through some major brokerages, including Merrill Lynch, and discounters such as Charles Schwab.)

Sarah Ketterer is CEO of Causeway Capital Management, where she pilots the International Value fund (CIVVX), up 18.6 percent for the five years through Dec. 31, vs. 15 percent for the EAFE. She is a classic value manager who has been focusing on unloved large-cap stocks. \"We look for free or surplus cash. Managements have recognized that they need to return that cash to shareholders,\" says Ketterer. \"I'll take that over earnings upgrades and momentum.\"

Ketterer says that the telephone equipment company Ericsson (Charts) has great global market share; 40 percent of all calls worldwide are placed through an Ericsson system. It has been a poor performer in the past 12 months, gaining only 5 percent as investors worried about a slowdown in telco. But she likes the numbers. \"Ericsson generates a 25 percent return on equity,\" she says. \"They have superior financial strength compared with their peers.\"

Another out-of-favor stock she likes is Sanofi-Aventis (Charts).The French pharmaceutical (制药的) company has a 5 percent global market share in drugs, she says, and it could generate about $65 billion in surplus cash over the next five years. The stock has suffered because the company has delayed the introduction of several new drugs. But now it's priced as though the company will never launch another product. \"Nobody believes in the pipeline (准备), and they haven't been able to explain their delays well,\" says Ketterer. To her, that means the stock has nowhere to go but up.

Rudolph Riad Younes, head of international equity at Julius Baer, helps run the International Equity fund (BJBIX), up 21.8 percent over the past five years, and the recently launched International Equity II (JETAX), up 28.6 percent in 2006, vs. 26.3 percent for the EAFE. Younes is a long-term investor who looks for good stocks of all sizes. He also seeks a balance between growth and value. \"The only way to avoid being caught at the top when international stocks have already had such great gains is to diversify,\" he says.

Younes sees the Indian banking sector as attractive and cheap. \"The market is concentrating on short-term issues like rising interest rates,\" he says. \"But looking long term, this is the time to buy many of these banks.\" One top choice is ICICI Bank (Charts). With assets of $60 billion and 670 branches, it is the second-largest bank in the country and it's rapidly gaining market share in assets and deposits.

Juliet Cohn's Diversified International Equity fund (PINRX), is up 18.4 percent over the past five years. She has been bullish on small- and mid-cap companies, which have been outperforming big caps. But her main focus is finding companies of any size \"undergoing positive change.\"

Two of her current favorites are large caps. The Swiss pharmaceutical giant Roche (ROG on the Swiss exchange) has been improving its profit margins thanks to higher-priced products, including oncology (肿瘤学) drugs. Much of the company's recent success stems from its 56 percent stake in biotech firm Genentech (Charts). \"In a sense, Genentech makes Roche a growth company,\" she says.

Cohn praises Nintendo (which trades in Tokyo, with the ticker 7974, $266) for its Wii Console launch. Demand is so great, she says, that there are still shortages in the U.S. and Europe. But what she really

25

likes is that Nintendo continues to dominate the fast-growing portable-game market with its Game Boy franchise.

\"Given how much China's markets have gone up in 2006, a selloff was no surprise,\" says Andrew Foster, director of research at Matthews Asian Funds and co-portfolio manager of Matthews Asian Growth & Income (MACSX), up 21.2 percent over the past five years. He likes dividend-paying companies because the regular cash payouts dampen some of the risk that comes with investing in volatile Asian markets.

His favorite stock is Taiwan Semiconductor (Charts), which boasts a 4.2 percent yield. \"Growth has decelerated relative to its history,\" he says. \"But it has excess capital on the balance sheet, it is still growing, and it's solidly positioned in global markets.\"

He also recommends HSBC (Charts), the globally diversified financial services giant, which yields 4.9 percent. \"It is suffering from its exposure to the U.S. subprime mortgage market, but it's trading at a reasonable valuation, provided you don't believe the market is going to fall apart,\" Foster says. He also thinks the dividend is rock-solid and has the potential to grow over time. Still he warns, \"volatility is par for the course in emerging markets.\" （March 6 2007: 11:07 AM EST）

Useful words and phrases: selloff: n.抛售 ↔ sell off: to get rid of sth. by selling cheaply 抛售 volatility: n. 动荡, 反复

volatile: a. of a quickly changing, undependable nature 动荡不定的, 反复无常的, 易变的 enticing: a. 诱人的 pick: n. choice 选择

bumpy: n. with many bumps, uneven崎岖的, 不平的

outperform: v. to surpass another in performance 表现胜过, 优于 equity: n. common stock 普通股

benchmark: n. a standard by which something can be measured or judged 基准 dim: v. to make dim 使黯淡

glut: n. a larger supply than is necessary 过剩 fund manager: 基金经理

mutual fund manager: 共同基金经理 brokerage: 经纪公司 discounter:

pilot: v. 带领, 指引

large-cap stocks: large-capitalization stocks out-of-favor stock: 失宠的股票 pipeline: n. 准备 gain: n. 盈利 assets: n. 资产 deposit: n. 存款

bullish: a. characterized by rising stock market prices; showing confidence about the future 股票行情看涨的, 做多头的; 乐观的, 对未来有信心的 profit margins: 利润率 stem from: to come from franchise: n.特许经营权

portfolio manager: 证券投资经理

26

dividend-paying: a. 分红的 pay-out: n. 支付

dampen: v. restrain, depress 抑制 yield: n. 投资收益 v. 获利 decelerate: v. slow down减速 balance sheet: 资产负债表 par: a. normal 正常的

Why tech stocks have a glorious future

Unless you believe poor people will suddenly start to enjoy being unconnected and uninformed, you've got to have faith in tech's future. Just look at the numbers.

(Fortune) -- As a financial writer, I spend a lot of time looking at numbers. Right now, the numbers say that the world has a huge and unremitting hunger for technology, communication, Internet access, and information.

That means that while we may seem to be living in grim economic times, tech companies are facing a future that is anything but grim—something that is salutary to recall when we read the daily headlines about financial turmoil and economic uncertainty. If you take the global view— and what technology company doesn't?—there really isn't much uncertainty. While things could slow down for a year or two, there is nowhere to go but up—way up.

In Indonesia, one person in a hundred owns a PC, and only one in a thousand has a broadband Internet connection. While there are already 63 million cell phone subscribers, that only represents 27% of the country's population of 234 million. Cell phone subscriptions in Indonesia are growing 36% annually. And you think that's something? In India, with 166 million cell phone users, growth last year was 84.5%.

These are numbers I randomly picked out from my favorite annual spreadsheet—the just-published 2008 Global Internet Snapshot compiled by Imran Khan, senior analyst for Internet, media and entertainment at JP Morgan (JPM, Fortune 500). Khan and his adept team spend months gathering data (the CIA is one major source) and making sure it's comparable. They use it to compile a massive chart that enables us to compare countries and regions all over the world by population, GDP growth, use of PCs, broadband, and mobile and landline phones.

When attempting to divine（预测，猜测） how deeply technology could ultimately penetrate developing countries like Indonesia or India, you might think the benchmark would be the United States. And for PC penetration it is. Only Switzerland (with 85.1) exceeds the 80.3 PCs per 100 persons we have here in the United States. Even if you don't think the rest of the world will ever reach that level, it will go a lot farther than it has so far. Khan's chart shows global PC penetration to be a measly 12.9 for every 100 people.

But for cell phones it's a different story. Here the United States is a laggard, with 77.4 subscribers per 100 people. The place to see the potential for worldwide cell phone use is Europe, where every country but Turkey exceeds the penetration of the United States. Italy, where many people have multiple subscriptions, is the European champ, with 135.1 cellphone subscribers per 100 people. Hong Kong exceeds even that, with 135.3. The overall global average is 41.6 subscribers per 100 people. The world's 2.75 billion mobile phone users are growing in number at an annual rate of 27%.

27

The hunger for connectivity, communication, and information just leaps off the charts. Let's look at, say, Peru, where cellphone use grew 57% last year, or the real mobile growth champs , Vietnam at 114%, Pakistan at 170%, and Ukraine at a whopping 185%. To be sure, we should acknowledge that some of these stats may be fuzzy, but it's impossible to deny that we are seeing a historic transformation of the world's population. The charts don't give growth rates for PCs per person and broadband usage, but we can simply look at the global figure for broadband Internet access penetration - 5.3% - and draw our own conclusions.

Says Khan: \"It highlights that there is pretty significant opportunity worldwide for PC penetration growth and Internet penetration growth. That's why we put this chart out—the numbers speak for themselves.\"

In addition to the data about economies and technology access, Khan's team compiles data about global advertising expenditure by media, especially the percentage of advertising spent on the Net. Then he looks at the growth of each country's Internet-connected population, and global trends.

He highlights a stat showing that the global population of people connected to the Internet—now 1.3 billion—has had a compound annual growth rate of 20.3% for the past eight years. Meanwhile, Internet ad spending of $40 billion remains only 6.6% of the global total of $605 billion and is growing at an annual rate of 33%. Says Khan, who follows companies like Google (GOOG, Fortune 500), Yahoo (YHOO, Fortune 500), and Omniture (OMTR): \"When I look at this it makes me very excited about the sector I cover.\"

Khan is quick to point out that he only covers Internet stocks, and thus cannot generalize about what the numbers mean for other types of companies. He adds: \"The big question is whether global economic growth can be sustained if the U.S. slows down.\"

Me, I'm happy to generalize.

Among companies I believe are likely to benefit from these trends long term are globally-oriented ones including wireless equipment and phone-makers Qualcomm, Nokia, LG, and Samsung; infrastructure providers Cisco and Juniper; multi-faceted large tech companies IBM and Hewlett-Packard; telecommunications operators Deutsche Telecom, Telefonica, Vodafone, and BT; software firms Microsoft, Oracle, Symantec, VMware, and Salesforce.com; Internet companies Google, Yahoo, eBay, Amazon, and ; and diversified global media companies News Corp., Time Warner (which owns Fortune and CNNMoney.com), Bertelsmann and the about-to-be-created Thomson Reuters.

More regional players will also likely benefit, especially in China, where winners are likely to include Baidu, Tencent, and China Mobile. Given the pace of growth in wireless, a global economic slowdown might most trouble the companies in that sector, but again, only in the short-term.

We are entering a world of common communication and awareness. Undeniable benefits will continue to accrue to the technology suppliers. But even beyond that, there will almost certainly be a significant positive macroeconomic impact from bringing so many new people into the global economic system

(By David Kirkpatrick, senior editor ,from CNN Money. com. 2008.03， March 27, 2008: 3:22 PM ED)

Unit7：Business Negotiation

1. Clarifying the stakes (interest in a business 利害关系 ) (p100)

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We are going to need confirmation on these orders today, and delivery must be made

before next Tuesday. Do you think you can handle that?

We are willing to work with you, but do you think it would be possible to extend your confirmation deadline? We need to check the warehouse to make sure the products are in stock. The earliest I will be able to get back to you is tomorrow morning.

No, I must know today because we have to go to press ()for the advertisements. Is there any way you can speed up the process of checking inventory?

We can do that, but it will cost…if we have to check our inventory with all our guys on overtime, you‘re looking at an increased cost of, I‘d say, maybe 10%. Are you kidding?

No, and let me tell you why… if I make my guys stay over to check the inventory, I‘ll have to pay them at an overtime rate, which is time and a half. I estimate it will probably take 3 guys two hours to finish, that will be an increase on your labor fee by at least 10%... If you need the numbers that urgently, I can have them do it. Otherwise, we can wait until tomorrow morning, and I‘ll call you with the numbers after they‘re done. It‘s your call…

2. Making concession (让步) (p104)

Is there any way we could get a better warranty on this product? Well, I can give you a better warranty if you would be willing to agree to an annual

contract.

That might not be ideal because there would be some drawbacks to an annual contract situation that might make it difficult to sell to our buyers. What about free delivery? If we make a large enough order, could you waive (免除) the delivery fee?

Yes, our delivery fee could be waived if you make an order of 50 units or more. We would have to insist on the annual contract, however. I understand it‘s not the most convenient for you; Perhaps we could shorten it to a sixth month contract if you are willing to take a lower rebate (折扣，回扣).

That would be fine. We could accept a lower rebate.

3. Discussing the bottom line (底线) (p108)

You got our email with all the specifications （详细说明）for the project, we‘ll be

accepting bids (an offer to do work at a stated price, tender 投标) until noon on Tuesday, if you have any questions between now and then, please let me know…

29

Actually, I did have a question. we‘d like to know what you had in mind for a budget on

this project. We‘re hoping to put together a really competitive bid (an offer of price 出价), but at the same time, we‘d like to hit your target price （达到目标价位）too.

I understand, but unfortunately it is our policy not to disclose our bottom line. You can be assured that price is a weighty consideration when we review the proposals, but we also consider other elements, including design and practicality. We also give weight to the reputation of the submitting company （竞标公司）.

Do you have any price range? Is there any way you can give me an idea of what direction to go, or how high is too high?

We are just looking for a reasonable price according to the specifications in our project blueprint. That‘s all I can say.

4. Accepting and confirming(p112)

We agree to give you a break (A favorable price 打折，优惠) on the price, all together a

discount of 6%. Good news is, I talked to my boss, he confirmed that if you take care of the shipping costs(航运费), we‘ll throw in （额外奉送）insurance.

Great. I‘d love to get a little better discount than 60%, but if your company provides the insurance, that will save us a few bucks…

Now, all this is available to you, as far as you make payment within a 30 day grace period (宽限期). That shouldn‘t be a problem, right?

No… we shouldn‘t have any problem with that. I know we talked about a possibility for 90 days, but we won‘t be needing that after your discounted price.

So, if all this is agreeable to you, I‘ll put it all down on paper and fax a contract to you this afternoon. If you can get a signed version of the contract we‘ve agreed upon back to me by tomorrow morning, we can go ahead and make arrangements to ship the product tomorrow. Great!

5. One-to-One Negotiation

 A. Thank you very much for the demonstration (演示) of the new photocopying machine which you are marketing. I can tell you now we are very interested in purchasing a quantity for our branch offices as well as our headquarters. This will involve about 50 machines in all— Provided (on the condition that 假如) that we can reach a suitable agreement with you.

 B. I‘m very happy to hear that. I‘m sure you‘ll find the machines very reliable

30

   

       

   

indeed.

A: Can you give me again the minimum price per machine—bearing in mind that we‘re talking about as many as 50 machines?

B: Well, our normal wholesale price including delivery works out at RMB 9000 per machine. But we can let you have a 12% discount for any order of over 20 machines.

A: Actually, we were hoping for a discount of up to 20%.

B: Oh, dear, I‘m afraid that isn‘t going to be possible. I‘d be in trouble with my company manager if I agree to offer such a large discount. 12% is our usual discount on bulk orders. I‘ll tell you what I‘ll do. I‘ll see my supervisor and try my best to get further 3% for you. That‘ll give you a total of 15% discount. A: Is there any discount for early settlement?

B: Oh, dear. Our chief accountant won‘t be very happy. But we can sometimes make a reduction of 2% if the bill is settled in full within ten days.

A. At the other extreme, would a 6-month credit period be acceptable to you？ B. I‘m afraid not. If we do give you a 15% discount, it‘ll use up almost all our profit, and we‘ll require payment within one month. I just can‘t do anything about extending that---it‘s simply not going to be possible for us

A. I understand, but what about warranty? What‘s the period of warranty on these machines?

B. It‘s 6 months, but I can make an exception in your case and give you a one-year warranty period.

A. So that‘s free repairs if any machines develop a fault within a one-year period. But what happens if any of the machines break down after a year?

B. Well, we have a special maintenance scheme: it‘s RMB 2000 or so for a year‘s cover. And we guarantee to carry out any repairs on site within 24 hours---provided the machines are used in an office within the city. If you phone us before 10 o‘clock in the morning, we usually come out to your office or factory the same day. Outside the city it will obviously take longer. Occasionally, we may even ask you to send the faulty machine to our nearest factory. A. I understand. Now what about the delivery time?

B. Usually two weeks from the receipt of your order---three weeks at the most. A. Can you deliver within one week? It‘s all very urgent in our particular case. We run the risk of losing business until we have the machines. B. Well, if you decide now and let me have a firm order (firm order: order that is not subject to cancellation until a specified expiration date 实单 ) with a 10 percent deposit, I think we can promise to get the machines to you by one week tomorrow---that‘ll be eight days. We‘ll give your order top priority---and you can have 17% discount provided we receive a full amount in ten days from now.

31

Unit8：Having meetings

Executing meetings (p128, 032)

I hereby call the Miltron Assets Board of Directors December general meeting to order. We‘d like to welcome the presence of Mitron‘s CEO, Andrew Lipinski, and we‘d also like to recognize (call on sb. to speak 请发言) representatives of our stockholder‘s group who are joining us today. Our main order of business today is the official appointment of a new director to our board to fill the vacant chair of the late Francis Depew. I‘ll now turn the time over to our secretary to continue with the proceedings.

Thanks. Harry. Now I‘m sure we‘re all meeting together with mixed feelings today. Francis was an active member of our board for more than 20 years, and her passing has left a big hole in our board, our community, and in our hearts. Francis was irreplaceable, but today we‘ve come together to welcome a new face to our board. I would like everyone to meet Tomas Kennedy, regional director of the Missoula General Hospital. Dr. Kennedy has vast experience in the medical field, and is a licensed Medical Doctor. It will be his first time serving on a board of directors, and we‘re looking forward to his service and all that he brings to the table.

4. Executing meetings (p140,035)

I call this meeting to order (正式宣布开会). Thank you all in attendance today. I know it‘s a busy day for you all. We have a lot of material to cover today. Did everyone get an agenda?

I need a copy of the agenda. Also, may I suggest something? I know we have many points to review today, but would it be possible to limit our meeting time to finish before 4 o‘clock? Many of us still have a mountain of work to do before the day‘s end.

We should be able to finish everything up before then. Let‘s run through the major points first, and see where we‘re at. The first matter of business is to approve the minutes(会议记录) of our last meeting.

I propose we accept the minutes. Good. Do I have a second (赞成)? I second.

Motion (动议) carried (approved by a majority of votes 通过). Now next on our agenda is our budget review (预算评议). Margaret, can you please fill us in (向我们详述) on where the budget review stands?

I gave everyone a copy of the manual (小册子) last week. We‘ve had the review board going over everything, and they have come up with a final review. Here‘s a copy for everyone, and if you have any questions, you can talk to me after the meeting. Basically, the budget review has been completed, with maybe a few polishing details left. What kind of action is required?

If everyone could have a look at the final review handout, if there are any objections or corrections, let me know. Next week we can cast the final approval.



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

Subway leads fast food industry in underpaying workers

By Annalyn Kurtz @AnnalynKurtz May 1, 2014: 3:50 AM ET

NEW YORK (CNNMoney) 

McDonald's gets a lot of bad press for its low pay. But there's an even bigger offender when it comes to fast food

companies underpaying their employees: Subway.



Individual Subway franchisees have been found in violation of pay and hour rules in more than 1,100

investigations spanning from 2000 to 2013, according to a CNNMoney analysis of data collected by the Department of Labor's Wage and Hour Division.  Each investigation can lead to multiple violations and fines. Combined, these cases found about 17,000 Fair Labor Standards Act violations and resulted in franchisees having to reimburse Subway workers more than $3.8 million over the years. 

It's a significant sum considering many Subway \"sandwich artists\" earn at or just above the minimum wage of $7.25 an hour. 

The next most frequent wage violators in the industry are McDonald's (MCD, Fortune 500)and Dunkin' Donuts (DNKN) stores. 

The numbers only reflect unlawful acts that have been caught. To be fair, Subway has more than 26,000 locations throughout the country — the most of any fast food chain—so it might not be surprising that it also tops the list of offenders. 

That said, Subway's problems were considered serious enough to prompt the Department of Labor (DOL) to partner with the company's headquarters to boost compliance efforts last year. 

\"It's no coincidence that we approached Subway because we saw a significant number of violations,\" a Department of Labor spokesperson said. 

The franchise model impact

In cases like these, the corporate parents like to draw a distinction between themselves and their

independently operated stores. While Subway declined to comment for this article, both McDonald's and Dunkin' Donuts submitted comments to that effect. 

Dunkin' Donuts noted its franchisees \"are solely responsible for all employment decisions at their

restaurants,\" and McDonald's cautioned \"against drawing broad conclusions based on the actions of a few\". (Read their full comments at the end of this article). 

Related: 10 big overtime pay violators

The fast food franchise model provides a layer of protection for Subway, McDonald's and Dunkin' Donuts. Even though fast food locations may look the same and restaurants abide by similar branding and business guidelines, each franchise owner is treated essentially as a small business. 

Meanwhile, the corporate parents can distance themselves from being found liable of labor violations. 

This makes the Labor Department's enforcement efforts harder. Consider that the agency can investigate a large company like Wal-Mart in one fell swoop and order changes to all Wal-Mart stores nationwide (as it did following certain overtime violations in 2012), but it cannot do the same for a chain restaurant. 

To crack down on wage violations in the fast food industry, the DOL has to investigate each franchise individually.

33



Over the last few years, DOL has been doing exactly that, intensifying its focus on so-called \"fissured

workplaces.\" These are businesses in which there's an indirect relationship between the worker and the parent company that ultimately benefits from their labor. Not limited to just franchises, this category also includes companies that rely on independent contractors or staffing agencies. 

Restaurants and hotels in particular, are a major focus, not only because they fall into this category, but also because they employ a large share of low-wage workers. 

Wage violations are common 

A 2009 study by several think tanks estimates about 18% of restaurant and hotel workers face minimum wage violations, 70% face overtime violations and 74% encounter what are known as \"off-the-clock\" violations, where workers are expected to do tasks without being paid. 

Common incidents include employers forcing workers to deduct a 30-minute lunch break, even though the employee didn't take a break. Some workers are forced to pay for a company uniform, which can be a violation if, after deducting that expense, the worker's hourly rate falls below the minimum wage. 

In a 2012 lawsuit, a Subway franchisee in Ohio, Hray Enterprises, was found in violation of labor laws after it failed to pay employees for the time they spent doing the nightly closing routine. For example, Hray Enterprises might say a worker's shift stopped at 10 p.m. when it actually took another half hour to shut the restaurant down and clean up. 

The franchise also made illegal deductions from employees' wages when there were cash register shortages, causing their pay to fall below the federal minimum wage. These were repeat offenses, and owners Joseph and Tammy Hray were ordered to pay $9,900 back to 72 employees. The Hrays could not be reached for comment. 

These are small amounts, but they add up for low-income workers. 

Some employers also try to skirt overtime rules by asking workers to sign contracts waiving

time-and-a-half pay. Such was the case at a Subway franchisee in Michigan, Farha Group #4, which operated eight restaurants. Following a Department of Labor investigation, the company agreed to pay 53 workers back wages and damages totaling nearly $52,000. 

The Fair Labor Standards Act, known as the FLSA for short, requires most fast food employees be paid at least the federal minimum wage of $7.25 an hour, plus time-and-a-half for any work beyond 40 hours a week. 

Employers are also required to maintain accurate time and payroll records. (To be continued)  





Labor law violation lawsuits on the rise

In addition to the Department of Labor's investigations, there has also been a rise in private lawsuits

Subway leads fast food industry in underpaying workers

(Continued)

related to wage and hour complaints. Lawsuits related to FLSA violations reached a record high in 2013, according to law firm Seyfarth Shaw. 

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But few private cases have focused on the fast food industry. Instead, plaintiff's attorneys have gone after

higher paying industries like financial services in pursuit of larger payouts. 

\"It's only now that the fast food industry is getting attention from the private sector, probably because of all the organizing and workers speaking out,\" said Hollis Pfitsch, staff attorney for the Legal Aid Society. 

That may change soon. 

President Obama's push for a higher minimum wage and expanded overtime pay are increasing

awareness about FLSA laws among workers, said Brett Bartlett, a partner at Seyfarth Shaw who has represented companies in more than 100 wage and hour cases and even written a book on the subject. 

\"All of this chatter around minimum wage, overtime and these franchise issues is educating everybody about the laws,\" he said. \"We're going to see an uptick in these cases.\" 

McDonald's workers suing for wage theft

Unions are also pushing low-wage workers to organize. Seven lawsuits filed byMcDonald's workers in March alleging wage theft, for example, come as part of a movement backed by the Service Employees International Union. 

In the McDonald's lawsuits, the workers' lawyers are arguing that the corporation should share liability with its franchisees -- a move that breaks with most prior cases. 

A similar situation occurred recently in a case filed by Domino's employees and argued by Legal Aid attorneys Pfitsch and Karen Cacace. 

While the original lawsuit was against a New York-based franchisee, the international

corporation Domino's Pizza (DPZ) was added to the suit as a joint employer after employees alleged the company held control over hiring policies, training, staff uniforms, point-of-sale systems and time and pay records. The case was settled with the franchisee agreeing to pay back wages to 61 employees, and Domino's corporate parent agreeing to minor concessions. 

If McDonald's headquarters is found jointly liable in a similar way, this would be a big win for workers and could trigger more FLSA lawsuits filed against the mega fast food chains. 

\"For some of these restaurants, there are numerous, highly sophisticated plaintiffs' law firms that have sued the corporate operations before and are hungry to find a way to connect the dots between the franchise operations and corporations. There's a huge potential payoff,\" Bartlett said. 

Related: Fast food workers, share your story

Bartlett recommends restaurant corporations insist individual store managers participate in training

programs and set up hotlines for workers, enabling them to anonymously report wage or hour complaints. While the corporate parents still need to maintain some distance, they can also include a line in their franchise agreements that gives them the right to inspect stores for compliance. 

\"The corporate headquarters want to make sure that its franchisees are complying with the law, but there's a fine line that they have to avoid crossing. Overzealous compliance efforts might cause them to be deemed employers of the franchise employees,\" he said. 

It may not sound like much, but Subway's compliance efforts currently include inviting Department of Labor staff to speak at its annual meetings and publish articles in the company newsletter. The department also provides FLSA posters to new franchise owners. 

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\"We are quite excited at that collaboration that we do have with Subway,\" said Laura Fortman, principal

deputy administrator for the Department of Labor's Wage and Hour Division. \"We think it's significant and can be a model for others.\" 

As for workers, \"They don't have to understand every complexity of the law. They need to know to just give us a call,\" she said. 

The Department of Labor has more information about wage and hour rules atwww.dol.gov/whd and 1-866-4US-WAGE. 

Corporate response

While Subway declined to comment, McDonald's and Dunkin' Donuts submitted the following responses to CNNMoney: 

McDonald's:

McDonald's and our independent owner-operators share a concern and commitment to the well-being and fair treatment of all people who work in McDonald's restaurants. Whether employed by McDonald's or by our independent owner-operators, employees should be paid correctly. When McDonald's learns of pay concerns in restaurants which we own and operate, we review the concerns and take appropriate action to resolve them. We trust that our independent owner-operators do the same. McDonald's and our owner-operators employ separately but in total over 750,000 workers in the United States, and we caution against drawing broad conclusions based on the actions of a few. 

Dunkin' Donuts:

The Department of Labor report represents a very small percentage of cases per year involving the Dunkin' Donuts system, given that there are more than 7,700 Dunkin' Donuts restaurants independently owned and operated by our franchisees who employ approximately 120,000 crew members at any given time across the country. However, we and our franchisees, who are solely responsible for all employment decisions at their restaurants, take these matters seriously and are committed to the well-being and fair treatment of all crew members. 

- CNNMoney's Melanie Hicken contributed data analysis to this report.

http://money.cnn.com/2014/05/01/news/economy/subway-labor-violations/index.html?iid=HP_LN&hpt=ibu_c2 

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Unit11：Brainstorming

A: Have you thought up any good ideas for our business proposal? B: I haven’t come up with anything good yet. Somehow my brain isn’t functioning today.

A: Maybe you should take a break. You’ve been sitting at your computer for three hours trying to

put things together. No wonder your mind isn't very sharp now.

B: I came up with a few different thoughts on the proposal, but now I’ve completely run out of ideas.

A: Maybe we can shelf the proposal for a while while you brainstorm. B: We could do that, but I hate to put everything on hold. A: You're right, it’s no good to have things up in the air for too long.

Time management

A: We’ve got to come up with a way to solve this problem! No one is getting their work done during the work day. We need to do some brainstorming to come up with a time-management solution for our office.

B: Well, what do you suggest? It’s not that we’re all wasting a lot of time. Fact is, we’re understaffed. People have just too much to do.

A: So you think we should hire some new people? That is one possible solution. What else could be the problem?

B: Maybe we do have some problems with time management. If people were always on time to work, they might get more done in the morning before lunch. A: That’s true. Also, maybe we could shorten the lunch break from an hour to 45 minutes. That would add a little time to everyone’s day.

B: 15 minutes would be good, but I wonder if it would make a big impact on the employees’ output. I still think it’s a problem with too much workload. A: We ended up right where we started. Maybe it’s time to look for some temp workers to help with a few projects. That would lighten everyone’s load.

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