新編劍橋商務英語高級第三版-第Module-5-Module6

Module5

5.1Acultureofdebt(page47)

EconomistPerhapsthegreatestlegacyoftheFederalReserveChairmanAlanGreenspanisthewayhetransformedpeople’sattitudetocreditanddebt.DuringhistermofofficenotonlythenationaldebtofAmerica,butalsopersonaldebt,increasedsubstantially.

SincetheGreatDepressionofthe1930s,peopleinAmericahavebeennaturallyreluctanttoborrowmoney.Butforthisgeneration,intheUSandincreasinglyglobally,debthasbecomerespectable.Fromanearlyage,youngpeopletakeoutloanstopaytheirwaythroughcollegeandborrowingagainstequityinrealestateisnowatrecordlevels.Re-mortgagingyourhomewasunheardofgenerationsago:asecondmortgagewasanindicationofahouseholdintrouble.Buttodayitisroutine.

Allthisispossiblebecausecreditiseasyandinterestratesarelow.Banksareencouragedtolend,andoftendosoirresponsibly.Insomestateit’spossibletogeta100%mortgage–inotherwordswithnodown-payment-equivalenttofourtimesacouple’scombinedannualsalary.Themarketisconstantlycomingupwithnewfinancialproductsandnewwaysofextendingcredittoordinarypeople.GeneralMotors,whoseautomotivebusinessindecline,nowsellshomeequityloansthroughasubsidiary:it’stheonlypartofthecompanythathasbeenconsistentlyprofitableinrecentyears.

Thereasonforthisboominmoneylendingisclear-tofundconsumerspending.Aslongaspeoplearespending,economicgrowthcontinues.Inothermoreconservativeborrowingcultures,likeGermany,economicgrowthhasslowedbecauseintimesofuncertaintypeopletendtosavetheirmoney,ratherthanborrowingandspendingtomakethemselvesfeelbetter.

Sodoestheaccumulatingdebtmatter?Somesaythataslongasassetvaluesrisefasterthandebt,there’snoproblem.In2005Americansweretwelvetrilliondollarsindebt,buttheirpersonalassetsstoodat64trilliondollars.Othersarguethatwearesittingonatime-bomb.

Assetvalueswillnotcontinuetoriseindefinitelyandwhentheycrash,millionsofpeoplewillbeplungedintonegativeequity.Liabilitiesremainthesamebutassetscangoupanddowninvalue.Thiswasthecasewithstockmarketvalues,whichsawsharpfallsaround2000.Crisiswasavertedonlybecauseinvestorsmovetheirmoneyintorealestate.

FormillionsofAmericansthisonlyconfirmedthecultureAlanGreenspanhadbeenpromoting-debtisgood.Andifheturnsouttobewrong-well,weallhadfuninthemeantime.

5.2Discussingcosts(page52)

CA=CostaccountantGM=Generalmanager

CALook,we’vegottodosomething.Doingnothingisnotanoption.Ourmarginswilljustgetsqueezedmoreandmore.

GMOK.Whatdoyousuggest?

CApersonally,I’drecommendcuttingthewagebill-eitherbylayingsomepeopleofforbyfreezingsalaries.

GMNeitherofwhicharegoingtobeverypopularoptions.

CANo,butthealternativesareprobablyworse:reducingmaterialcostswilldefinitelyhaveanimpactonproductqualityandcuttingbackonadvertisingexpenditureisonlyashort-termsolution-itwillhurtinthelongrun.

GMNo,Iseethat.Whataboutadministrativecostsorotheroverheads?Insteadofcuttingstaff,wecouldtryanddosomethingaboutgettingourenergybillsdownforexample.

CAI’vealreadydoneasmuchasIcaninthoseareas.Ihavethoughtaboutthisalotandforme,theonlyrealsolutionistotacklelabourcosts.Itmaybepainful,buttheadvantageofitwouldbethat,oncedone,wecouldgetbacktoconcentratingonselling.

GMOK,Ihearwhatyou’resaying,butIthinkitmightcreatemoreproblemsthanyouthink.I’mgoingtogoawayandthinkaboutit…seeifthereisanacceptablewayofdoingit.

so.Customersreallyloveit:thefeedbackwe’vehadhasbeenexcellent.

BarbaraThat’sgreat.

PaulItisgood.Ihavetosay,I’mnotsosurprised-it’sanexcellentproduct,veryhighqualityandthepricereflectsthatofcourse.Whichbringsmeontomynextpoint.NowI’mnotaskingforbettercommission-weareOKonthat–butwhatwouldreallyhelpismoreseasonaldiscountingfromyourend.WhatImeanisreductionsthatwecouldpassstraightontoourcustomers.Generally,werunsalesinJanuary,springandlatesummerandatthemomentParagon’sproductsaretheonlyonesthatdon’tfeature.Isupposeyoucouldsaythatgivesthemacertainexclusivityintheeyesofthecustomer,butatthesametime…

BarbaraIcanseethelogicofwhatyou’resaying,andI’venodoubtitwouldhelpsales,butwhatyoumustunderstandisthatit’sverydifficultforustohaveapolicywithyouthat’sdifferentfromallourcustomers.Letmethink…whatIcouldsuggestisthatwetryandfeedyoumorediscountedstockwhenwearecomingtotheendofaparticularproductline.Icanspeaktothebossaboutthat.

PaulWell,couldyoualsomentiontohimtheprincipleofseasonaldiscount,becauseIthinkitwouldgenerateevenmoreinterestintheproducts.

BarbaraAllright,Iwill…butI’mnottoooptimistic.Arethereanyotherpoints?

PaulYes,thereisoneotherproblem,whichisthatwhenweplaceanorder,it’squiteoftenthecasethatyoudon’thaveexactlywhatwewantinstockandyouofferusasubstituteinstead.Letmegiveyouanexample:wewantengineerwoodflooringinanaturaloakandyouonlyhaveitinastainedoak.Onthewholewetrytobeflexible,butit’ssomethingwhichseemstobehappeningmoreandmore-andthatworriesme.

BarbaraIdon’tunderstand,Pual,andIapologise.It’ssomethingwhichwearetryingtosolve.Butit’snotreallyaproblemofourownmaking.It’saresultofshortageinrawmaterialanddelaysfurtherupthesupplychain.Wedotrytocarryreservestocksofalltypesofwood,butasyouknowit’sasensitiveproducttotransportandstoreandweoftenhavetorelyonwhat’savailablefromoursuppliersatagiventime.That’sjustthenatureoftheproduct.

PaulYes,Iappreciateallthat,butexplainingittoourcustomersisanotherthing.Oftenthey’rejustnotpreparedtowaitandiftheycan’tgetwhattheywantexactlywhentheywantit,they’llgoelsewhere.Intheend,that’snogoodforeitherofus.Areyousayingthatthesituationisunlikelytoimprovebecauseifyouare…

6.2Telephoneexpressions(page62)

Example

AHello,isJohnthere?

BSure,I’lljustgethimforyou.

AThanksalot.

1ACanIspeaktoYanLin,please?

BI’msorry,thelineisengaged.Wouldyouliketohold?

ANo,that’sOK.I’llcallbacklater.

2AI’mafraidMr.Chiuisoutoftheofficetoday.

BOK.Canyoutakeamessage?

AOfcourse.I’lljustgetapenandpaper.

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