3908

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II. Listening Comprehension

Scene 1

1.Answer the following questions.

1.What is the demand for J.M. bikes in Industria? What are the sales?

2.What did Paul write in his letter to Carl Sindon?

3.Was the Embassy satisfied with Carl' work?

4.How does the shift system work?

5.Why did Carl join the Diplomatic Service? Is he attached to the diplomatic activity?

6.Why was Eve’s boss angry?

2.Reproduce the situations in which the words from the glossary list are used.

3.Paraphrase the following sentences conveying the same meaning. Translate them into Russian.

1.Sales have increased quickly.

2.The Embassy was impressed by Carl’s managing of J.M. project.

3.Carl heard unofficially that he will be promoted.

4.There were some complaints from the men about coping with orders.

5.The shift system seems to give good results.

6.Carl said that there was a lot to be said for combining with one of the bigger companies.

7.The company is in debt.

8.The government is influenced by the trade unions.

9.Fortesquieu was angry with Eve for spending much time with J.M. even though J.M. is becoming one of their best clients.

4.Give the summary of the scene.

Scene 2

1.Answer the following questions.

1.What happened to the consignment of mopeds?

2.How many replacements do they have to send?

3.Who was responsible for the damage and who will cover it?

4.What does Paul suggest to avoid heavy dependence on suppliers of components?

2.Reproduce the situations in which the words from the glossary are used.

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3.Paraphrase the following sentences conveying the same meaning. Translate them into Russian.

1.The baby is expected sometimes this afternoon.

2.Insurance will compensate all their losses.

3.Such heavy dependence on suppliers will destroy the company.

4.A delay in supplying parts means a delay in manufacturing bikes.

5.Tom had no more of patience to listen to what Paul was talking about expansion.

6.Tom said that it was unfair that they were sitting and discussing business while Tara was in hospital.

4.Give the summary of the scene.

Scene 3

1.Answer the following questions.

1.What is economic situation in Industria?

2.How can economic problems in Industria affect J.M.’s position on the

Industrian market?

3.What measures can J.M. take in order not to lose profit?

4.What did Tom decide about his future?

2.Reproduce the situations in which the words from the glossary list are used.

3.Paraphrase the following sentences conveying the same meaning. Translate them into Russian.

1.There have been reports of the dissatisfaction of workers and the prospects for the pound are not very hopeful.

2.It would be wise to insure the rate of exchange to protect company’s position on the current contracts.

3.J.M. takes responsibility to sell Industria pounds forward at the present rate against the utile.

4.Paul decided to implement this idea immediately.

5.Tom decided to retire and he wanted Paul to accept responsibility for the company.

4.Give the summary of the scene.

5.Use the following words in the situations of your own:

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through the grapevine, to pay dividends, to be in the red (black), to merge, under pressure, cross words, to run out of, disgrace, gloomy, put smth into action, half and half, enter into commitment

6.Translate the following sentences.

1.За последний месяц продажи резко возросли.

2.Карл узнал по слухам, что его, возможно, повысят в должности: поговаривают о его переводе в США.

3.Сменная система работы, кажется, приносит свои плоды.

4.Многое может быть сказано в пользу слияния с одной из крупных компаний, но это было как раз то, чего Том стремился избежать.

5.Правительство испытывает давление со стороны профсоюзов, требующих ввести ограничения на ввоз товаров.

6.Карл поступил на дипломатическую службу только, чтобы сделать приятное своему отцу, но его больше привлекает мир бизнеса.

7.Прибытие груза ожидалось через два дня.

8.Последняя партия груза была повреждена в пути, и теперь J.M. придется заменить 100 велосипедов.

9.Все убытки будут скомпенсированы за счет страховки.

10.Том терял терпение всякий раз, когда Пол начинал говорить о

расширении компании и предлагал очередной проект.

11.Стоимость фунта Индастрии упала, что вызвало резкое увеличение дефицита платежного баланса.

12. Были сообщения о производственных беспорядках, а перспективы для фунта довольно мрачные.

13.Было бы разумно застраховать обменный курс, чтобы укрепить положение по еще не выполненным контрактам.

14. Том решил уйти на пенсию. Он хотел, чтобы Пол принял управление компанией, но при условии, что он разделит этот пост с Тарой на равных.

III. Make up a dialogue to discuss the following situation.

St. A: You work in Supply Department of a company manufacturing cars. You have just learned that your sole supplier won’t be able to deliver you the required quantity of wheels because of the fire at their plant. Discuss the problem with your Managing Director.

St. B: You are the Managing Director. Your Supply Department Manager informs you of the inconvenience caused by your supplier’s problems. You think it would be better if your company found another supplier.

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(Discuss advantages and disadvantages of having only one supplier)

EPISODE 8

I.Programmed Unit: Company Formation

1.Explain the following words from the text and translate the sentences in which they are used.

2. Answer the questions

1.What may a company do if it doesn’t have enough money to start business?

2.In what form can a company borrow money?

3.What does the bank require before it gives a loan?

4.What are the liabilities of a sole proprietor?

5.What are the liabilities of partners?

6.How can a person invest money in a company?

7.What shows company’ dependence on the bank?

3. Read the following text paying special attention to new words and set phrases.

1) Sole Proprietorship (Br.). Individual Proprietorship (Am.).

Индивидуальные Предприниматели.

Sole proprietors are individuals carrying out economic operations in various spheres of business activities (industrial, trade, transport, banking etc.) and concluding commercial deals on their behalf.

The legal form is not to be indicated in the name of the firm.

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The hired staff are not referred to as proprietors.

The proprietors must be registered in the trade register, obtain a licence to carry out business activities and keep the books reflecting the results of the latter. The contents of the books are commercial secrets not accessible to a third party. In case of a lawsuit the books can be open for the court and the parties concerned provided the proprietor acts as a plaintiff or a defendant. Also, the books can be made public in case of either insolvency or inheritance.

Sole proprietors are not subject to public report therefore it is not possible to get true information of their activities.

The sole proprietor is not a legal person and if fully liable with his property

by obligations of his firm. Millions of sole proprietors in the world carry out their business activities mainly in the sphere of various services and retail trade.

2) Unlimited Partnership (Br.).General Partnership (Am.). Полное Товарищество.

The main feature of unlimited partnerships is equal and collective responsibility for the property for all members of the partnership. In other words, creditors can be paid either at the expense of the partnership’s property of the members or private property of the members. Besides, the agreement can not provide for exception of property liability of any of the members before a third party. The property of the unlimited partnership is a joint property of its members.

The profit obtained is distributed proportionally to the share of participation in the property of the partnership. Concession of the share of participation can be made only with the consent of the members. The number of the members of the partnership is not limited.

The unlimited partnership can be disbanded either in case of insolvency or resignation of one of its members or by resolution of all its participants. Unlimited partnerships are not subject to public report.

3) Limited Partnership (Br., Am.). Коммандитное Товарищество. (Товарищество с Ограниченной Ответсвенностью).

The limited partnership is a contractual union of entrepreneurs participating only by way of contribution without taking direct part in the management(investors); and those who, apart from contributing, carry out direct management of the partnership and are fully liable by the partnership’s obligations with their own property (full members).

It takes at least one full member and one investor to form a limited partnership.

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The name of the partnership includes the names of one or two full members; the including of the name of the investor into the firm’s name makes the investor equally and jointly liable by the partnership’s obligations.

4)Master Limited Partnership. Акционерно-Коммандитное Товарищество.

Master limited partnership carry out business activities on the basis of a Charter and are to be registered. One or more full members and shareholders as investors make a partnership. Shares can either be sold to or distributed among the investors

or quoted on the stock exchange. Full members run the partnership and are liable by the partnership’s obligations. The shareholders run the risk of devaluation of the shares. A legal person can act as a full member. Thus a master limited partnership bears characteristics both of a limited partnership and a public limited company. The advantage of a master limited partnership is in getting additional income through an issue of securities and their subsequent sale on the securities’ market. Dividends are tax exempt, so the investors are mainly attracted by a tax regime of master limited partnerships which pay only income tax.

5)Private Limited Company (Br.). Close Corporation (Am.). Акционерная Компания с Ограниченной Ответственностью). Закрытая Акционерная Компания, (Общество с Ограниченной Ответственностью Закрытого Типа (общепринятое назв. в СНГ).

A private limited company has the word “Limited” or the abbreviation ‘Ltd” in its name. A private limited company should be registered under the Companies Act and act in compliance with its Charter. The company is a legal person fully liable by the company’s obligations. The equity capital of the company is formed at the expense of deposits; the shareholders get a certificate of deposit which is not considered to a security and as a rule can not be assigned to third persons without the consent of other shareholders of the company, that provides for the close character of the company. There are private limited companies with a single shareholder.

There is one more circumstance that limits the financial rights and hence production opportunities of the private limited liabilities companies: they are not allowed to issue debentures and announce public subscription for their shares.

Private limited companies keep statutory books which are not subject to public report. The number of members of the company is not large, usually consisting of close relatives or people knowing each other quite well, who united for business.

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6). Public Limited Companies (Br.) Corporation (Am.). Открытая Акционерная Компания. Корпорация. Акционерное Общество Открытого Типа (общепринятое назв. в СНГ).

Public limited company is the main legal form of large firms. A public limited company is a union of investors called shareholders. It carries out business activities on the basis of the Articles of Association and is to be registered under the Companies Act. Any legal person or an individual can be a founder of the company. The shareholders are not liable be y the company’s obligations. The public limited company is not stable kind of unification of capitals as the resignation of any of its investors doesn’t involve the liquidation of the company. The investor has the right to sell his shares without the consent of other shareholders.

The initial share capital is formed by way of selling shares. During that period the initial share capital is the only source of financing of its activities. The means obtained from the sale of shares are used for the purchase of plots of land, industrial premises and offices, equipment, basic commodities (raw materials) to launch manufacturing activities. Therefore the company receives an income and also can be financed by way of issuing debentures and securing bank loans.

Thus a number of advantages make a number of limited company the most effective means of concentration and centralization of capital goods and capital. The shareholders can return their capital only by way of selling shares at the price currently quoted on the stock exchange.

The shareholders have property and personal rights. Property rights are realized in case of liquidation of a company and in case of getting dividends. Personal rights mean the right to vote; normally a share gives a right for one vote. The decisions are to be taken by a large majority, hence the person or a legal person holding the majority interest is the one who makes resolutions. Public limited companies’ names must have the abbreviation ‘plc’ in their name.

4. Answer the questions.

1.What is a sole proprietor?

2.Why is it impossible to get true information of the activities of the sole proprietor?

3.In what cases can the books of the sole proprietorships be made public?

4.In which spheres of business do sole proprietors normally work?

5.What is the main feature of an unlimited partnership?

6.In what way is the profit obtained distributed in the unlimited partnership?

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7.What is a limited partnership?

8.What are the peculiarities of the name of the limited partnership firm?

9.Why do master limited partnerships bear the features both of the limited partnerships and a joint stock company?

10.What is the advantage of a master limited partnership?

11.Which feature is attractive for investors in master limited partnerships?

12.What is private limited company?

13.How is equity capital of the private limited company formed?

14.What are the circumstances limiting financial rights and production opportunities of the private limited companies?

15.What is the public limited company?

16.Are the shareholders liable by the company’s obligations?

17.Does the investor to the public limited company need to get a special permit to sell his shares?

18.What is the role of initial capital for the public limited company?

19.What is the additional way of financing for the public limited company?

20.What factors make public limited company the best form of concentration and centralization of capital goods and capital?

21.How can the shareholders of the public limited companies realize their property rights?

22.What are the rights of the shareholders in a public limited company?

23.What is the difference between the private limited company and the public limited company?

5. Give English equivalents to words and word combinations. Make up your own sentences using them.

залог (гарантия)

заемный капитал

превышение кредита

индивидуальный предприниматель

доля в капитале

контрольный пакет акций

собственный капитал

зависимость от заемного капитала

вкладчики(инвесторы)

вести экономическую деятельность

вести учет

подлежать публичной отчетности

судебный иск (разбирательство)

выступать в качестве истца или ответчика

несостоятельность

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нести полную ответственность по обязательствам компании всем имуществом

равная и солидарная ответственность

совместная собственность

доля участия в собственности

с согласия членов товарищества

уступка

отставка

решение всех участников

договорное объединение предпринимателей

осуществление непосредственного руководства

фондовая биржа

подвергаться риску обесценивания акций

выпуск ценный бумаг (облигаций, акций)

быть свободным от налогов

передавать право третьим лицам

подписка на акции

осуществлять имущественные права

решение принимается большинством

ликвидация компании

5.Give word combinations pertaining to each word listed below:

6.Fill in the blanks where necessary

1.Carry … economic operations

2.Spheres … business activities

3.The books are opened …. the court

4.Information … someone’s activities

5.Responsibilities … partnerships obligations

6.Liability before … third party

7.Proportionate … the share … participation

8.To be subject … … public report

9.To take part … management … the partnership

10.Shares can be sold … or distributed … the investors

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11. To be quoted … the stock exchange

12.Run … the risk

13.Can not be assigned … … third party

14.Announce … public subscription … shares

15.… price quoted … stock exchange

7.Below there are ten words and word combinations. On the right of them there ten alternative ways of saying the same things, however they are mixed up. Choose the words and word combinations on the right which have the same meaning as the ones on the left.

II. Listening Comprehension

Scene 1

1.Answer the questions

1.How is J.M. doing at the moment?

2.Do they have any immediate problems?

3.What did they do to get skilled workers?

4.What makes Tom infuriated?

5.Why does Kamal want J.M. to merge with MEI?

2.Reproduce the situations where the words from the glossary list are used.

3.Paraphrase the following sentences conveying the same meaning and translate them.

1.According to our working maps and graphs we are doing well.

2.I think we can continue doing the same way.