首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Why are there so many corporate abuses today?
Why are there so many corporate abuses today?
admin
2015-07-27
52
问题
Why are there so many corporate abuses today?
W: Joining us to discuss all of this, George Washington University law professor Lawrence Mitchell. Professor Mitchell is the author of a book called Corporate Irresponsibility, the emphasis I believe on irresponsibility. Professor, the gist of your book and your views, [1] is it irresponsibility that is driving so many things in this corporate abuse context?
M: [1] Well, yes, it is, except that the most important thing to emphasize is the source of the irresponsibility and why it’s happening now. Because many people ask, we’ve had this great bubble market; we’ve had a healthy stock market, for the most part, since the Great Depressions, why all this now? [1] And the answer to that, it seems to me, is that over the past couple of decades, for a variety of sometimes related and sometimes unrelated reasons, what we have seen develop among the American investment community, as well as among corporate executives — and that is not unrelated — is an extraordinary emphasis on short-term stock price maximization, a need to get the earnings up every single quarter, to get the stock price up every single quarter. And you can not do that the old-fashioned way. You can not do it just by earning money. No business can do that over a sustained period of time.
W: Professor, in the business schools around the world, is the pursuit of the dollar and the yen and whatever currency we are talking about the driving force in the business world today?
M: Well, yes, actually. I think maybe business ethics will have a comeback, but yes. In fact, [2] my colleagues in the business schools tell me that they almost do not talk about ethics at all; they all talk about the bottom line. And that is something that has become increasingly true over the years.
W: Now, let us take the other side of that view, which is to say that businessmen, indeed the President of the United States and others, have said this is really just a few bad apples in the cart and it really does not represent the entire business world. What is your view about that?
M: I think that is true when you are talking about things like the kind of outright fraud and crime that we saw in the case of WorldCom, in the case of Global Crossing apparently, in the case of Enron apparently, Tyco — the list gets a little long. But I think that is right. 1 think, for the most part, it is true that most business people, just like you and me, go to work every day and try to do their jobs the best they can. They are honest, decent people. So, in that narrow respect of criminal activity or borderline criminal activity, he is right about it. [3] The broader problem, though, is the short term profit push is not just about crime, it is about stretching the accounting rules within legal limits but somehow distorting them. Managed earnings — nobody ever talked about managing earnings 20 years ago. This is a new concept. You find it, too, for example, in promiscuous layoffs. One of the best ways to get your quarterly numbers up is to lay off a bunch of people. [4] The great Jack Welch partly made his name firing 125,000 workers — 125,000 workers — over the course of his tenure at G. E. That is an enormous amount of people. And it is incredibly dislocating. You wind up with environmental short-cutting. You wind up sometimes with product short-cutting. We saw that in the auto industry, both with Ford and Firestone. We saw it in a couple of other cases where a few dollars here or there spent would have made a slight difference in the bottom line but it would have saved lives.
W: Let us talk for a moment or so — we have about a minute left in the segment — about the news, which is to say, Wednesday, the markets are surging back. How do you explain it? [5] I know that the conference committee on Capitol Hill has worked out some new legislation that would impose new penalties on corporate fraud. Is that part of the psychology that led to the surge today?
M: I think so. [5] I am tempted to say that it is because the President did not talk today, at least about this.
W: I am sure he would have another view on that.
M: I am sure he would, and we could disagree. I think this was predictable in some respects. You have seen over the last week people talking about the market trying to find its bottom. At this point, P/E ratios are below historical averages, and there is a point at which I think, even with the uncertainty, Wall Street says, "Enough, it is time to start buying again." All I can say is, wait till tomorrow.
W: All right, we’ll see. Professor Lawrence Mitchell, of George Washington University Law School, thanks for your interview. Professor Mitchell thanks so much for being with us.
M: Thank you for having me.
选项
A、It would cause the stock price down.
B、The conference committee on Capitol Hill will not make such a rule.
C、The president would not agree with it, at least recently.
D、That is the reason why the stock market is surging.
答案
A
解析
推断题。录音中女士提到新立法会对商业欺诈行为实行一些新的处罚,并问这是否是导致股市上涨的部分心理原因,男士说他认为恰恰因为总统今天的讲话没有谈到新立法问题,股市才会大涨。由此可以推断出,男士的言外之意就是新立法会导致股价下跌,答案为[A]。
转载请注明原文地址:https://kaotiyun.com/show/6cOO777K
0
专业英语八级
相关试题推荐
Manypeoplefeelthathumanbeingsshouldberesponsibleforthedisappearanceofsomeotheranimalspecies.Itistruewemay【M
ItusedtobesaidthatEnglishpeopletaketheirpleasuresadly.Nodoubtthiswouldstillbetrueiftheyhavehadanyple
Writeanessayelaboratingthestatement"Inmanysituations,compromiseisnecessary".Requirement:Yourwritingshouldh
AudienceofWritingAudienceisaveryimportantconceptforwriting.Youneedtoanalyzeyouraudienceintermsofthefollowin
AudienceofWritingAudienceisaveryimportantconceptforwriting.Youneedtoanalyzeyouraudienceintermsofthefollowin
父亲为什么会把我逼到蒙娜丽莎面前,并且给我听交响乐?我想这是那种叫做命运的东西。到了27岁,我才敢向他提起这个问题(以前我甚至怕提到这个女人的名字)。他说肖邦是好东西,当我号啕大哭,他就是要把我一个人关在屋子里听肖邦。那时周围没有人家像我们一样拥有唱机和电
JanFleming,thecreatorofJamesBond,iswell-knownforwriting______.
ExpositionExpositioniswritingthatexplains.Mostofthebooksinuniversityli-brariesareexamplesofexposition.Alth
不消说,相识的人数是随了年龄增加的,一个人年龄越大,走过的地方、当过的职务越多,相识的人理该越增加了。可是,相识的人并不就是朋友。我们许多人相识,或是因了事务关系,或是因了偶然的机缘——如在别人请客的时候同席吃过饭之类。见面时点头或握手,有事时走访或通信,
我自然知道,大山有坎坷,大海有浪涛,大漠有风沙,森林有猛兽。即便这样,我依然喜欢。打破生活的平静便是另一番景致,一种属于年轻的景致。真庆幸,我还没有老。即便真老了又怎么样,不是有句话叫老当益壮吗?于是,我还想从大山那里学习深刻,我还想从
随机试题
治疗嗜铬细胞瘤所致的血压升高,首选哪种降压药
根据《建筑安装工程费用项目组成》(建标[2013]44号),建筑安装工程费用按照费用构成要素划分,由人工费、材料费、()、利润、规费和税金。
不属于利:区工作启动阶段的介入策略的是()。
新课程理论影响比较大的有建构学习理论和________。
领导派你组织一次预防艾滋反对歧视宣传活动,你如何组织?
给定资料1.以下是某地报纸“读者来信”专栏刊登的有关Y县乡镇招商引资工作的三封来信:A镇孙某:农业和农村的发展,需要注人强劲动力,比方说,吸引外来的人才、资本和技术“加盟”。但有的招商引资贪大求洋,导致项目长期落不了地,产生不了实际效益
王大妈听到小李说他父母的不是,嘴上虽然没说什么,心里却______。下列依次填入横线处的词语,恰当的一组是()。
()对于钢琴相当于马褂对于()
•Lookatthenotebelow.•Youwillhearamancallingaboutadelivery.TrevisTransportat
Manytheoriesconcerningthecausesofjuveniledelinquency(crimescommittedbyyoungpeople)focuseitherontheindividualoro
最新回复
(
0
)