#0868 – Mergers and Acquisitions, - Ang, mater, ESL Podcast McQuillan Jeff mp3+PDF

#0868 – Mergers and Acquisitions

#0868 – Mergers and Acquisitions, - Ang, mater, ESL Podcast McQuillan Jeff mp3+PDF

[ Pobierz całość w formacie PDF ]
//-->English as a Second Language Podcastwww.eslpod.comESL Podcast 868 – Mergers and AcquisitionsGLOSSARYto merge– to combine two companies to form a new company* How many people will lose their jobs when the companies merge?to hear through the grapevine– to hear a rumor; to hear someone say thatsomething is true or happening, but not have any proof and know that it may notactually be true* I heard through the grapevine that Joel and Noemi broke up. Is that true?hostile takeover– an event where one company buys another without theapproval of that company’s executives or board of directors* Nobody realized that Acme Corporation was buying shares in order to pursue ahostile takeover of the company.equals– people or organizations that have the same rights and responsibilities,with the same amount of importance or significance* In a perfect world, husbands and wives would be equals, but in reality, oneperson is usually the decision-maker.integration– the way two things are put together or mixed together to createsomething new where all the parts or pieces work together* The racial integration of schools in the southern United States was an importantsocial issue in the 1960s.seamless– very smooth, without any problems, especially referring to where twothings join each other* Please practice the introduction so that it is seamless with the rest of yourspeech.don’t you believe it– a phrase used to contradict what another person has said,meaning that one disagrees with the other person and thinks he or she isincorrect* A: Mom said she’s going to host a simple Thanksgiving meal this year.B: Don’t you believe it! She says that every year, but then she makes it toofancy and ends up spending days in the kitchen.valuation– an assessment of the value of something; a determination of howmuch money something is worth* How much do square footage and the number of bedrooms affect the valuationof a new home?1These materials are copyrighted by the Center for Educational Development (2013). Posting ofthese materials on another website or distributing them in any way is prohibited.English as a Second Language Podcastwww.eslpod.comESL Podcast 868 – Mergers and Acquisitionsasset– something that is valuable and can be sold to receive cash* For most American families, their home is their greatest asset.in pieces– with many parts; not all at once or altogether; one at a time* It’s interesting to watch sculptors who work in pieces, finishing one detailed partof a sculpture before moving onto the next part.acquisition– purchase; the process of buying something so that one is theowner and has it* Pedro spent most of his life involved in the acquisition of expensive things, butas he became older, he realized that family and friends are more important.to consolidate– to put two or more things together so that they form one strongunit; to unite or combine* These consolidated financial statements show the profitability of all our offices,not just our headquarters.business entity– a company, corporation, or firm; an organization that tries tomake money by selling products or services* Have you structured your business entity as a partnership or a soleproprietorship?synergy– cooperation and coordination between two or more people ororganizations that produces stronger, better, or more influential results thaneither of the people or organizations could have achieved alone* The best teams have strong synergy that produces a lot of exciting, creativeideas.to buy– to believe something; to be persuaded; to be convinced of something* Did you buy Linda’s story about how she lost her cell phone?the shirt on (one’s) back– a phrase used to talk about losing almost everythingone has* Dave sold the shirt on his back to try to keep his restaurant open, but it justwasn’t profitable and he had to close it.2These materials are copyrighted by the Center for Educational Development (2013). Posting ofthese materials on another website or distributing them in any way is prohibited.English as a Second Language Podcastwww.eslpod.comESL Podcast 868 – Mergers and AcquisitionsCOMPREHENSION QUESTIONS1.a)b)c)2.a)b)c)What does Lamar mean when he says that he “heard through the grapevine”?He is being paid for secret information.He heard the news while drinking wine.He heard a rumor, but has not been able to verify it.Why does Lamar say, “We’ll be lucky to still have the shirts on our backs”?Because the new company will ask employees to wear a different uniform.Because they’re going to have to work very hard.Because the other company is going to destroy McQ Corp.______________WHAT ELSE DOES IT MEAN?equalThe word “equals,” in this podcast, refers to people or organizations that have thesame rights and responsibilities, with the same amount of importance orsignificance: “Should all teachers be treated as equals, or should teachers withmore experience receive extra benefits?” The phrase “to be the equal of(someone or something)” means to be as good as someone or something else:“This new car is the equal of any car I’ve ever owned before.” The phrase “to bewithout equal” or “to have no equal” means to be the best: “Francisco believesthe novel is without equal and he recommends it to all his friends. Finally, thephrase “all things being equal” means that all other factors are the same, oreverything is working normally: “All things being equal, they should have enoughmoney to buy their first home in 2016.”to buyIn this podcast, the verb “to buy” means to believe something or to be persuaded:“Did you buy what the politicians were saying about the new healthcare law?”The phrase “to buy time” means to find a way to give oneself more time to makea decision, postponing it for later: “The reporters have been asking questionsabout this for weeks already and we can’t buy you any more time. You need togive them an answer.” The phrase “to buy up (something)” means to buy asmuch of something as one can: “The day after Thanksgiving, shoppers bought upalmost everything in the store.” Finally, the phrase “to buy (somebody) out”means to buy all of the stock or shares that a person owns, so that he or she nolonger has any power or influence: “How much did Jason pay to buy out the otherpartners?”3These materials are copyrighted by the Center for Educational Development (2013). Posting ofthese materials on another website or distributing them in any way is prohibited.English as a Second Language Podcastwww.eslpod.comESL Podcast 868 – Mergers and AcquisitionsCULTURE NOTETypes of MergersThe business world has “seen” (experienced; witnessed) many types of mergers.A “horizontal merger” “occurs” (happens) between two companies that areworking in the same “field” (area; sector; industry). For example, a company thatsells medical equipment in the northeast might purchase a company that sellssimilar medical equipment in the southwest. This allows the company to “expand”(increase; spread out) its “geographic reach” (the physical area covered by acompany) and increase its “market share” (what percentage of sales are held bya particular company).In contrast, a “vertical merger” occurs when a company “purchases” (buys) acompany that produces products or offers services that are normally used by thepurchasing company. For example, an auto manufacturer might purchase thecompany that supplies its tires. Companies participate in these types of mergersbecause they “anticipate” (believe will happen) that this will decrease costs. Inthis example, the auto manufacturer will now have access to tires “at cost”(paying only the cost of making the tires), without paying for the “overhead”(additional expenses, such as executive salaries) that was included in the priceof the tires when the tire manufacturer was a separate company.A third type of merger, called a “conglomerate merger,” occurs when the buyingcompany and the company being “acquired” (bought) are “unrelated” (notconnected to each other). For example, a company that makes computer gamesmight buy a company that provides financial advice. Conglomerate mergers areusually “intended” (planned) to “diversify” (make less risky by having manydifferent, unrelated parts or by being in many different fields) large corporations’investments.______________Comprehension Questions Correct Answers: 1 – c; 2 – c4These materials are copyrighted by the Center for Educational Development (2013). Posting ofthese materials on another website or distributing them in any way is prohibited.English as a Second Language Podcastwww.eslpod.comESL Podcast 868 – Mergers and AcquisitionsCOMPLETE TRANSCRIPTWelcome to English as a Second Language Podcast number 868: Mergers andAcquisitionsThis is English as a Second Language Podcast episode 868. I’m your host, Dr.Jeff McQuillan, coming to you from the Center for Educational Development inbeautiful Los Angeles, California.Our website is ESLPod.com. Go there, become a member of ESL Podcast, anddownload the very useful Learning Guide to this episode.This episode is a dialog between Marisol and Lamar about one company buyinganother company. Let’s get started.[start of dialog]Marisol: What do you think of the big announcement this morning?Lamar: That our company is going to merge with McQ Corp.? From what I’veheard through the grapevine, this isn’t a merger but a hostile takeover.Marisol: But the CEO said this morning that our company and McQ Corp. areequals in this merger, and the integration of the two companies will be seamless.Lamar: Don’t you believe it! McQ Corp. has a history of taking over companieswith high valuations and a lot of assets and selling it off in pieces. This is nofriendly acquisition.Marisol: But what about all of that talk about our two companies consolidatinginto a strong business entity and creating great synergy? Didn’t you buy any ofthat?Lamar: Not one word. When McQ Corp. is through with us, we’ll be lucky to stillhave the shirts on our backs![end of dialog]Marisol begins by saying to Lamar, “What do you think of the big” – or important– “announcement this morning?” An “announcement” is when you are givensome piece of news, usually from someone in authority, like your boss or thepresident of the United States. Lamar says, “That our company is going to merge5These materials are copyrighted by the Center for Educational Development (2013). Posting ofthese materials on another website or distributing them in any way is prohibited. [ Pobierz całość w formacie PDF ]

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