- •Vocabulary Commentary
- •All yours Manufacturing companies are increasingly using the Internet to give customers the impression of personal service. But true customisation needs new production techniques as well
- •Vocabulary
- •Can Bayer Cure Its Own Headache? Shareholders would like it to shed everything but health care
- •Vocabulary
- •«Байер» перестраивается
- •Nokia's next act Can the Finnish giant stay on top in an age of commodity phones and stalling sales?
- •Vocabulary
- •Canon Cutting Edge By trimming down to four product lines, it's making record profits
- •Halfway down a long road Carlos Ghosn's efforts to meld Nissan with Renault have become the stuff of management legend. But the alliance faces some daunting challenges
- •Can Ford Fix This Flat?
- •Vocabulary
- •Vocabulary
- •A Challenge From the Nimble Newcomers
- •Mergers & Acquisitions Will the latest cycle of European mergers produce better results?
- •Vocabulary
- •Vocabulary Commentary
- •Independent directors at big public companies need to be tougher
- •Vocabulary
- •Vocabulary
- •U r Sakd
- •Is there a nice way?
- •Simon London finds the post of chief operating officer falling prey to a new breed of executive with greater powers and access to the boss
- •The Bottom Line on Options
- •Unit 13 Consolidation
- •Will ceOs Find Their Inner Choirboy?
- •Пролетая над Таити
- •Vocabulary
- •Useful Words and Phrases
- •«Нортел»
- •The Numbers Game Companies use every trick to pump earnings and fool investors. The latest abuse: "Pro forma" reporting"
- •Vocabulary
- •Unit 15
- •I swear… Oaths are only a small step in the business of cleaning up American companies
- •Something must be done
- •Vocabulary
- •Holier Than Thou European sanctimony over American accounting scandals is misplaced
- •Et, the extra-territorial
- •Vocabulary
- •Revenge of the Bean Counters No longer frail in the face of fraud, accounting firms are thriving on new u.S. Laws that give them real clout
- •Half Measures
- •Bad for cfOs, Good for Investors
- •Хранители прозрачности или слуга двух господ
- •Unit 16
- •Up from the ashes Amid a global wave of business failures, American firms are more likely to get a second chance. Unfair competition, or a lesson for Europeans?
- •Eurotunnel vision
- •Vocabulary
- •Var crash
- •Vocabulary
- •Европа уходит за рубеж
- •Goldman's German revolution
- •Have Fat Cats Had Their Day?
- •Unit 18
- •Stronger foundations New proposals for regulating banks are both a step in the right direction and evidence of how hard it is to monitor the riskiness of the banking system
- •Vocabulary
- •Vocabulary
- •Английский характер
- •Unit 19
- •Conflicts, conflicts everywhere Was America wrong to scrap the laws that kept commercial and investment banking apart?
- •Vocabulary
- •Care To Buy Some David Bowie Bonds
- •In Europe, securitization is the hottest way to raise cash
- •Beautifying Branches
- •Instead of axing their branches, banks are inventing new ways to make money out of them
- •Slippery
- •Coffee, Tea, or Mortgage?
- •Life Branches?
- •The world's biggest retailer edges into financial services
- •Гросс-банки сокращаются
- •Feeding Frenzy
- •Tough Questions for aig's Auditors Regulators are probing if PwC let the financial shenanigans slip through
- •Watchdogs with Eyes Wide Shut As investigators pore over the books of aig, it's becoming clear that for years regulators failed to detect lapses
- •Goldman's German Revolution
- •Another Year, Another Scandal
- •Digging out at Allianz The German financial-services giant is back in the black — but still struggling
- •A Dedicated Enemy of Fashion Most companies claim to run their business for the long term. Nestle is one of the few that really does
- •More Pain, Waiting for the Gains Drastic action as gm's cash pile runs down
- •«Морган Стэнли» увольняет сотрудников, чтобы оставшиеся лучше работали
Vocabulary
certify v |
удостоверять, заверять, подтверждать |
certified public accountant (CPA) |
дипломированный бухгалтер высшей категории |
certificate n |
удостоверение; свидетельство, сертификат; справка |
preferred creditor |
кредитор, имеющий преимущественное требование |
fiddle v |
Обманывать, мошенничество |
misrepresent v |
искажать |
to misrepresent the results |
искажать результаты |
misrepresentations, n |
введение в заблуждение, обман |
wilful misrepresentation |
умышленное введение в заблуждение |
representation n |
юр 1) представительство, 2) заявление, представление фактов, сведений; создание у другой стороны определённого представления о фактическом положении вещей |
trail n |
«аудиторский след» |
audit trail |
отслеживание сделок при проверке (аудите) |
to incorporate a company |
инкорпорировать компанию, учредить и зарегистрировать компанию |
transparency n |
1) прозрачность, транспарентность; 2) диапозитив |
infuse v |
1) вливать; 2) вселять, внушать, зарождать |
proxy n |
1) представитель; уполномоченный; доверенный; 2) полномочие; доверенность; 3) голосование по доверенности |
by proxy |
по доверенности, по полномочию; через представителя |
proxy season |
период проведения отчетных собраний акционеров |
Exercise 1. Suggest the Russian for the following.
a compliant board of directors; certified mail; a notary; to undertake a curious task; to fiddle the figures; accounting fraud; a paper trail; double-digit earnings growth; to omit material facts; CPA; to infuse real transparency; one-time charges; (un)recurring costs, asset write-downs; a skeleton in the (corporate) cupboard(s); to misrepresent the company's results; mutual funds; legal loopholes; a ban on subsidized personal loans; a charge; liabilities to preferred creditors; to treat stock options as expenses; institutional investors; white-collar crimes
Exercise 2. Find the English for the following combinations.
подтвердить под присягой правильность финансовой отчетности; защищать права акционеров; тяжкое преступление; «лазейка» в законе; балансовый отчет компании; начисленная сумма расходов; умышленное введение в заблуждение; осуществлять надзор над корпорациями; иметь основания для увольнения, голосовать по доверенности; зарегистрировать компанию; обеспечивать прозрачность отчетности; дипломированный бухгалтер; кредиторы, имеющие преимущественное право требования; рассматривать фондовые опционы, предоставляемые служащим, в качестве статьи расхода
Exercise 3. Translate the following paying attention to the structure of the sentences.
Executives at companies suspected of engaging in financial shenanigans are often sued by the Securities & Exchange Commission and aggressive plaintiffs' law firms.
Not long ago a small group of law professors asked the SEC to change the situation. Their aim of forcing lawyers who learn about a corporate fraud to address it gained support from several prominent senators after Enron imploded, generating evidence suggesting that lawyers employed by the firm had endorsed dubious transactions.
Ford Motor Co. has launched an extraordinary effort to settle all pending individual suits in the US over injuries and deaths from rollovers in its popular Ford Explorer, offering victims and their families generous settlements while instructing its lawyers to apologize on behalf of the company for equipping the vehicles with tires made by Bridgestone/Firestone Inc.
The court issued injunctions against both the director and the company formed by him to restrain him from using the invention made by the director and the patent acquired by him.
Following Sarbanes-Oxley, and assuming the SEC is not lobbied into loopholing the new rules into nothingness, company lawyers will have to report any knowledge of illicit behaviour first to management and then, if that fails to get a proper response, to push the issue as far as the company's board and then the SEC itself.
• Text 2