Vocabulary list

		to predict major cutbacks — предсказывать значительные сокращения ассигнований
		to have bankroll problems — иметь трудности с финансированием
		to reduce (withdraw) financial backing — сократить (прекратить) финансовую поддержку
		to underwrite — гарантировать размещение ценных бумаг
		to be spearheaded by smb — возглавляться кем-либо
		to run the Public Relations Department — руководить отделом по связи с общественностью
		to assume smth — предполагать что-либо
		to take prompt action — принимать незамедлительные меры
		to stop a leak — прекратить утечку
		to bring a proposal before the money policy committee — представить предложение на рассмотрение комиссии по денежной политике
		to reduce one's commitment to smb by 50 per cent — сократить свои обязательства по отношению к кому-либо на 50%
		to be in session — заседать
		to put funds to some uses — использовать средства на реализацию каких-либо программ
		to be reasonable — быть разумным
		to be excessive — быть избыточным
		to strike a balance — достичь равновесия (баланса)
		a treasurer — начальник финансового управления
		to abuse smth — злоупотреблять чем-либо в своих интересах
		to opt out of smth — отказываться от чего-либо
		to adjust the flow of funds — пересмотреть движение средств
		to have a bearing on smth — иметь влияние на что-либо
		to be reluctant to do smth — испытывать нежелание сделать что-либо
		to open a line of credit for smb — открыть кредитную линию для кого-либо

1. The first hint of trouble appeared in mid-January. It was an item in the gossip column. The columnist wrote:

"... Whispers around downtown predict major cutbacks soon at Forum East. The project has bankroll problems. Nowdays who hasn't?"

Edwina D'Orsey telephoned Alex. Her concern was not surprising, as her downtown branch bank handled construction loans, many of the mortgages involved, and accompanying paperwork. The project represented an important segment of branch business.

"Alex, we must do something about it," she said.

"You needn't worry. So far as I know," Alex reassured her, "nothing has changed.' However, Alex was more concerned a few days later when a larger item appeared, this time in the regular news column of the Daily Times Register. The report read: "Anxiety about the future of Forum East persists amid growing rumours that financial backing may shortly be reduced severely or withdrawn. A consortium of financial interests spearheaded by FMA has underwritten the Forum East project. A spokesman for FMA today acknowledged the rumours and said. "An announcement will be forthcoming in due course." Alex read the morning news story and realized that he had to act quickly.

1. When did the first hint of trouble appear?

2. Did Edwina D'Orsey have every reason to be concerned?

3. What did the report in the Daily Times Register read?

4. Alex had to act quickly, didn't he?

2. On arrival at FMA Headquaters Tower he summoned Dick French who ran the Public Relations Department.

"In the first place." Alex demanded, "who was the bank spokesman?"

"That was me," French said. "And I'll tell you right now. I didn't want to do it, but I had to. Mr Patterton insisted on it."

Alex fought down a rising anger. "Is there a reason he didn't consult me about any of this?"

The PR head looked surprised. "When I talked on the phone to Mr Patterton yesterday I know Roscoe was with him. I assumed you were in there, too."

"I must tell you this, next time don't assume anything," Alex said.