Внеаудиторное чтение по английскому языку. Учебное пособие

The proposed settlement announced on Friday night – the parties have 45 days to reach a definitive agreement – would cover damages claims for the estimated 116,000 people and businesses that were plaintiffs in the litigation over the spill, and anyone else who comes forward before the April 2013 deadline. BP said it did not expect the deal, which it valued at $7,8 bn, to add to the $37,2 bn total cost it expects to face as a result of the spill.

The settlement will be paid out of the $20 bn trust fund BP set up to pay compensation for damage from the accident, which is included in that total charge. The company said on Friday that an estimated $3,4 bn remained unallocated within the fund as a result of the settlement – which could cover claims from state governments and environmental restoration.

Jason Kenney, an analyst at Banco Santander, expects a positive reaction to the deal in BP’s share price. “The announcement of a settlement with the PSC (plaintiffs’ steering committee) is a positive step forward, and within the rational range of claim amounts already assumed by BP.

“With any worst-case claims scenario for BP looking increasingly unlikely the current significant discount in BP’s share price can now begin to unwind.”

If BP is to pay the claims from the US federal and state governments, whether in a settlement or at trial, it looks as though it will have to pay significantly more than $3,4 bn.

Executives at the group in London will have noted the robust statement issued by the DoJ on Friday that while it was “open to a fair and just settlement” it was also “fully prepared to try the case”. It added: “The United States is prepared to hold the responsible parties accountable for the damage suffered in the Gulf region.”

People familiar with the situation point out that actions by the DoJ – with respect to the banking and the pharmaceutical industries – point to a tough approach to business.

Other comments since the news have been similarly robust. Garret Graves, the chair of Louisiana’s Coastal Protection and Restoration Authority, described settlement of the private claims as “a good first step,” but added: “We have been preparing for trial for over 18 months and are very anxious to get into court as soon as possible on the remaining matters before the court.

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“This would include confirming the obvious gross negligence determination, any criminal issues resulting from the investigation, and tens of billions of dollars in natural resources and Clean Water Act fines reinvested in our coast and the Gulf.”

Peter Hutton, analyst at RBC Capital Markets, said shareholders would likely be supportive if BP took “incremental” further charges to settle all remaining claims, which would both resolve uncertainty and send a signal to the US that the company was taking its punishment.

“Investors will be supportive of incremental charges to the P&L, if this provides the basis for settlement with major parties involved, and the prospect of returning to ‘business as normal’,” he said. “Equally, we think it correct and expedient that BP should be seen to increase charges as a result of the settlements.”

As the November elections approach, the Obama administration and state leaderships would welcome a large settlement that showed BP was being forced to repair the damage.

For Bob Dudley, BP chief executive, the beginning of the end may be in sight, but the task at hand will be to steer the group through the remaining uncertainty. The balancing act he has performed over the past two years between protecting shareholder interests while finding a resolution in what was the group’s biggest growth market remains.

(By Ed Crooks and Sylvia Pfeifer, The Times)

6.1 Read the text thoroughly and be ready to arrange the following statements into the logical order of the text:

1 The trial over the spill, which will hear claims from the government and the private sector has been postponed indefinitely.

2 Other comments since the news have been similarly robust.

3 As the November elections approach, the Obama administration and state leaderships would welcome a large settlement that showed BP was being forced to repair the damage.

4 A settlement to resolve all the federal, state and local government claims is seen by legal experts as the most likely outcome.

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5 BP may have resolved some of the claims it faced over the 2010 Gulf of Mexico oil spill with a $7.8bn deal to compensate people and businesses hurt by the spill

6 The United States is prepared to hold the responsible parties accountable for the damage suffered in the Gulf region.

7 Investors will be supportive of incremental charges to the P&L, if this provides the basis for settlement with major parties involved, and the prospect of returning to ‘business as normal’.

8 With any worst-case claims scenario for BP looking increasingly unlikely the current significant discount in BP’s share price can now begin to unwind.

6.2 Match the words with their definitions:

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6.3 Insert the correct preposition.

1This is the first step ….. reforming the welfare system.

2Recent economic performance suggests that a major crisis is ….. hand.

3The company staff are extremely supportive ….. each other.

4More than 30 software firms were involved ….. the project.

5Paintings valued ….. over $200,000 were stolen from her home.

6An emergency fund was set up in reaction ….. the famine.

7Managers must be accountable ….. their decisions.

6.4Say whether the statement is true or false. If the statement is false, give the correct variant:

1 Over the past two years BP had been suffering from the financial uncertainty.

2 The US Department of Commerce is investigating possible criminal charges against BP.

3 The settlement will be paid out of the $20bn trust fund BP set up to pay compensation for damage from the accident.

4 The company said on Friday that an estimated $3.4 thousand remained unallocated within the fund as a result of the settlement

5 Roger Dudley is BP chief executive.

6.5Answer the following questions.

1What claims may BP have resolved?

2What is a significant step for BP in putting an end to some of the financial uncertainty that has surrounded it over the past two years?

3What is the US Department of Justice investigating?

4What did comments from federal and state officials over the weekend suggest?

5What is Jason Kenney?

6What is the United States prepared to?

7What is Garret Graves?

8What would send a signal to the US that the company was taking its punishment?

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9Under what circumstances will investors be supportive of incremental charges to

the P&L?

10What will the task at hand be, according to Bob Dudley?

6.7 Finish the following sentences using the original text:

1The settlement with the private sector plaintiffs in the litigation over the spill is a significant step for BP in putting an end… .

2Comments from federal and state officials over the weekend suggested they would take a tough line in… .

3The company said on Friday that an estimated $3.4bn remained unallocated within the fund as a result of the settlement… .

4The United States is prepared to hold the responsible parties accountable for… .

5We have been preparing for trial for over 18 months and are very anxious to get into court as soon as possible… .

6As the November elections approach, the Obama administration and state leaderships would welcome a large settlement that showed… .

6.8 Choose the correct variant.

1If you're still not satisfied, you may be able to … compensation.

2 Unemployment is not the … - the real problem is the decline in public

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6.9Write out key expressions. Make up a plan for retelling.

6.10Be ready to retell the text in class.

Unit 7 Celebrity endorsement in ads

The story

In 1996 Oprah Winfrey, the US’s highestrated syndicated talk-show host, announced the launch of a book club designed to “get America reading again”. The plan was simple: Ms Winfrey would use her celebrity influence to convince her viewers to turn to literature, in one of the most highly publicised reading promotion programmes in history.

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The structure was equally straightforward: Ms Winfrey would select a book and announce the title during a show, and then discuss it during a televised segment a month or so later.

The challenge

Oprah’s Book Club (the “Club”) faced immediate scepticism from literary commentators, who associated syndicated daytime shows with lowbrow offerings such as soap operas. Even members of Ms Winfrey’s staff questioned whether viewers would be interested in essentially being assigned homework and sitting through the television equivalent of a high-school English class. Their fears were supported by survey evidence that showed the percentage of Americans reading literature had fallen from 57 per cent in 1982 to 47 per cent in 2002.

Results for the endorsed author

Ms Winfrey’s endorsement led to lasting sales increases for the chosen authors. For instance, the first selection was The Deep End of the Ocean by Jacquelyn Mitchard, describing the destructive events following the kidnap of a three-year-old child. The novel had sold roughly 70,000 copies – impressive for a first novel, but hardly a blockbuster. In the month after its endorsement, sales increased by 700,000 copies and the book became a top bestseller.

The Club’s next two selections were older novels: Toni Morrison’s Beloved and Jane Hamilton’s A Story of Ruth. Each sold nearly 1m copies following the endorsement.

The improvement in sales is not limited to the endorsed book. Immediately after endorsement, sales of other titles by the same author also increase and the magnitude of this spillover benefit grows in the three months after the announcement. The effect is similar to a positive review in the New York Times.

Results for the book industry

The remaining strategic question is whether a set of celebrity endorsements can in fact expand the market. Analysis of data from Nielsen Bookscan, the premier point-of- sale-tracking data set in the publishing sector, reveals that the Club led to no increase in aggregate book sales.

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Among booksellers involved in the research, following a book’s endorsement total sales in that book’s category actually fell. A plausible explanation is that endorsed titles took longer to read because they were more challenging or longer than books that would otherwise have been purchased.

The lessons

At the broadest level, the Club can be thought of as a series of exceptionally prominent celebrity endorsements. The use of this marketing tool dates back at least as far as Pope Leo XIII’s 1899 endorsement of the Vin Mariani alcoholic beverage.

In some countries, as much as 40 per cent of ads use some form of celebrity endorsement. However, the manner in which they affect customer behaviour remains unclear. Hence, companies often fail to develop either their advertising strategies or their responses to those of competitors adequately.

Ms Winfrey believed her endorsements could expand the number of people reading. However, it seems higher post-endorsement sales primarily serve a business-stealing role. When a competitor’s ads steal sales rather than expand the overall market it represents an immediate threat to profits that requires a response. An endorsement announcement from a rival may require a company to increase its own marketing and promotions significantly.

The results are also informative for companies offering many products under one umbrella brand. When endorsements by Ms Winfrey increased sales of books by the same author, it showed how ads for one product can have a big impact on an entire suite.

(By Craig Garthwaite, an assistant professor of management and strategy at the Kellogg School of Management at Northwestern University)

7.1 Read the text thoroughly and be ready to arrange the following statements into the logical order of the text:

1 In 1996 Oprah Winfrey, the US’s highestrated syndicated talk-show host, announced the launch of a book club designed to “get America reading again”.

2 Ms Winfrey’s endorsement led to lasting sales increases for the chosen authors. 3 Among booksellers involved in the research, following a book’s endorsement total

sales in that book’s category actually fell.

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4 Ms Winfrey believed her endorsements could expand the number of people reading.

5 The structure was equally straightforward.

6 Oprah’s Book Club (the “Club”) faced immediate scepticism from literary commentators, who associated syndicated daytime shows with lowbrow offerings such as soap operas.

7 The improvement in sales is not limited to the endorsed book. 7.2 Match the words with their definitions:

7.3 Insert the correct preposition.

1The 1970s were the most successful ….. the theater's long history.

2Copies of the report are available to schools and members …… the public.

3Our research led us …… the conclusion that the present system is unfair.

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4They told me it would be cheap but ….. fact it cost me nearly $500.

5The fighting is a major threat ….. stability in the region.

6There's been a big improvement ….. the children's behaviour.

7The speech was strikingly similar ….. one given by the American President earlier this year.

7.4 Say whether the statement is true or false. If the statement is false, give the correct variant:

1Oprah’s Book Club faced immediate scepticism from literary commentators.

2The percentage of Americans reading literature had fallen from 57 per cent in 1982 to 47 per cent in 2002.

3He first celebrity endorsement dates back to 1899.

4Oprah Winfrey is the Africa’s highestrated syndicated talk-show host.

5Ads for one product can have a big impact on an entire suite. 7.5 Answer the following questions.

1What is Oprah Winfrey?

2When did Oprah Winfrey announce the launch of a book club designed to “get America reading again”?

3What was the plan?

4What was the structure?

5Whom did Oprah’s Book Club face immediate scepticism from?

6What did Ms Winfrey’s endorsement lead to?

7How many copies had the novel The Deep End of the Ocean by Jacquelyn Mitchard sold?

8Is the improvement in sales limited to the endorsed book?

9How many ads use some form of celebrity endorsement in some countries?

10What may an endorsement announcement from a rival require?

7.6 Match equivalents:

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