IV. Раскройте скобки и переведите на русский язык модальные глаголы. Establishing a Join-Stock Company

1. At the first step one (следует) choose a company in the target sector (зд. Сектор, представляющий интерес) of the company.

2. Having chosen the one, you (необходимо) examine thoroughly its published financial statements.

3. If no financial reports are published, then you (придется) study its financial position with banks.

4. Having examined the company’s financial position, you (можете) arrange an appointment with the managing director.

5. At the beginning the director (может) be worried by your suggestion.

6. However, when you have explained your intentions, you (должны) be able to establish a good relationship.

7. While meeting the director, you (следует) make it clear for him the purposes of both sides.

8. Finally, it is important that a clear legal contract (должен) be signed between partners disclosing all details.

V.Среди следующих предложений выберите те, в которых говорится о недостатках достоинствах той или иной формы собственности.

1. One is personally liable for the debts of others.

2. Having bought a share in a business, one risks to lose only the sum of money invested in it.

3. Highly qualified specialists can be hired for running the everyday business.

4. It is rather a cheap form of business ownership, the purchase of license being the first step for starting it.

5. Annual reports about the business activity are easily available to all interested parties.

6. One possesses much freedom in making managerial decisions, completely controls the business, capital and obtains the profits.

7. One is in close contact with employees.

8. Income is subject to double taxation.

9. One should take all the risks and full responsibility for all results from the decisions made.

10. Personal assets can be sold for the business debts.

11. It is easy to transfer ownership as the share can be sold to anyone for any price.

12. Management is not always at a professional level.

13. The stability of the business greatly depends on individual behaviour and abilities.

14. The total bank credit for the business expansion is limited.

15. Much more resources can be accumulated for running the business, banks extending larger credits.

16. It is difficult to determine one’s share in the business and to recover money if the business dissolves.

17. The business continues to be operated successfully even the owner retires.

18. Information concerning the business isn’t available to the general public.

VI. Подберите определения к следующим словам.

a firm, a company, a cooperative society, an industry, a subsidiary, an insurance company, a holding/parent company, a joint-stock company, a public corporation.

1. A collective term which is used to describe a group of firms which operate in the same area of production.

2. A leading company established to hold all or more than a half of the bonds or stocks of other companies, which it usually controls.

3. An association of persons which is formed for the purpose of carrying on trade or running business and has a separate identity from the persons who combine to form it.

4. A company controlled by another company which owns all or a large part of its shares.

5. A basic production unit which operates the business and varies in size from one-person business to a multinational organization.

6. An organization owned by the state and set up to provide a national service or to run a nationalized industry.

7. A company that agrees to provide money to compensate the loss or damage of property in the case of fire, accident, etc.

8. A business formed by a group of people using money provided by them all.

9. A business society owned and run by its members who work together and share the profits.

Прочитайте текст без словаря и озаглавьте его. Ответьте на вопросы, следующие за текстом.

The private corporation is known as one type of corporation but there also exist other types. For instance, public corporations owned by governmental bodies. The Tennessee Authority formed in the 1930s in the USA can be mentioned as an example of a federal corporation which is to provide power, control floods, and provide irrigation.

The majority of corporations in the USA are small and they make up approximately 25 per cent of all business companies, however, this figure understates the real economic significance of the corporate business organization. Modern technological developments largely account for the appearance of corporate giants in such sectors of the economy as manufacturing, transportation and utilities, mining, banking and insurance, and retail trade.

In view of the growing importance of corporations, society is faced with three major problems. First, the growth in corporation size has brought about an increasing separation of control from ownership. In large companies a stockholder no longer performs effective control; actual control belongs to management, which tends to be self-selecting and responsible only to itself. Second, the size of many corporations gives them economic power that permits to ignore the discipline of the competitive market, because it is large corporations that have real control over the prices charged for the goods they produce. Finally, society cannot be sure that the corporate performance serves the public interest.

Public interest requires organization and operation of business to be subject to governmental regulation, and many laws have been enacted (предписывать) for the purpose of ensuring a competitive pluralism in production and trade. Government regulation, particularly in the USA, attempts to prevent the formation of monopolies that totally control a particular branch of industry such as steel, petroleum, or automobile production. Governments also regulate public utilities and transportation, guarantee loans to homeowners, subsidize shipping, build highways and airports and administer price-support programs for farmers.

1. What types of corporations are known?

2. Why are corporations so important in the national economy of the USA?

3. What are the main disadvantages of corporate giants?

4. Why is governmental regulation necessary? How can it be affected?