1006G emteddybear的备考日记——想法太多而不去实施等于没有想法

emteddybearUID：2699606

The opposition's opening remarks
Oct 20th 2009 | Nell  Minow

Excessive executive compensation of the past decade is both a symptom and a cause of the current economic mess. And the post-meltdown awards are all but guaranteed to continue to create perverse incentives that will reward management and further damage the interests of shareholders and every other participant in the economy.
Incentive compensation rewarded executives for the quantity of transactions rather than the quality of transactions. It inevitably led to failures like the subprime disaster次贷危机 and the dominoes it toppled as it took the economy down with it. Worst of all, the avalanche of post-bailout bonuses and departure packages like the $53m Ken Lewis got from Bank of America have severely damaged the credibility of Wall Street and the American financial markets as a  whole. The billions of dollars of losses do not come close to the reputational hit to American capitalism, which will increase the cost of capital for all US companies.
Panglossian过分乐观主义者 observers will always be able to find some metric to justify any level of pay. But the results speak for themselves. The decisions that led to the meltdown were made by executives who knew that they would be paid tens, even hundreds of millions of dollars no matter how successful the consequences of those decisions.
Let us look at ground zero of the subprime mess, Countrywide, where Angelo Mozilo made more than$550m during his time as CEO. When the compensation committee tried to object to his pay levels, he hired another compensation consultant,paid for by the shareholders, to push them into giving him more. He also pushed for, and was given, shareholder subsidies, not just for his wife's travel on the corporate jet but for the taxes on the imputed income from that travel. Instead of telling Mr Mozilo that he had no business asking the shareholders to subsidise资助 his taxes, the board meekly signed off on it, making it clear to everyone in the executive suite that the pay-performance link was not a priority.举例子
By the end of 2007, when Countrywide finally revealed the losses it had previously obscured, shareholders lost more than 78% of their investment value. Meanwhile, in early 2007 Mr Mozilo sold over $127m in exercised stock options before July 24th 2007, when he announced a$388m write-down on profits. Before the bailout, Countrywide narrowly avoided bankruptcy by taking out an emergency loan of $11 billion from a group of banks. Mr Mozilo continued to sell off shares, and by the end of 2007 he had sold an additional $30m in exercised stock options股票期权.There is the definition of outrageously残暴的 excessive compensation.
Countrywide responded to a shareholder proposal that year asking for a non-binding advisory vote on its pay plan by urging shareholders to oppose it because "Countrywide has been an outstanding performer" and because"The Board's Compensation Committee has access to the best informationon compensation practices and has a thorough process in place to determine appropriate executive pay." They could hardly have done worse. And it is likely that some market feedback on the structure of the pay plan could have given compensation committee members Harley W.Snyder (chair), Robert J. Donato, Michael E. Dougherty and Oscar P.Robertson worthwhile guidance.
Michelle Leder of the indispensable Footnoted.org website discovered that Frank A. Keating,Charles T. Maxwell and Frederick B. Whittemore, the compensation committee at Chesapeake Energy, not only paid the CEO, AubreyMcClendon, $100m, a 500% increase as the stock dropped 60% and the profits went down 50%, they spent $4.6m of the shareholders' money to sponsor a basketball team of which Mr McClendon owns a 19% stake, they purchased catering services from a restaurant which he owns just under a half of, and they took his collection of antique maps off his hands for $12.1m of the shareholders' money, based on a valuation from the consultant顾问 who advised Mr McClendon on assembling the collection. The board justified this by referring to Mr McClendon's having to sell more than $1 billion worth of stock due to margin calls, his having concluded four important deals and the benefit to employee morale from having the maps on display in the office. A market-based response wouldbe: (1) that was his risk and it is inappropriate不相称的 to the point of misappropriation盗用 to force the other shareholders, already substantially out of pocket with their own losses due to his poor leadership of the organisation, make up for his losses (2) if the deals are good ones, he will be adequately rewarded when the benefit of those deals is reflected in the stock price; and (3) you have got to be kidding. If this is pay for performance, what exactly is the performance we are paying for?
These may be anecdotes, but they are illuminating ones. The numbers and details may be at the extreme, but the underlying approaches are representative. Even as outliers极值, they still demonstrate the failure of the system to ensure a vigorous, arm's-length system for determining pay and the inability of the system to require an effective incentive programme with a genuine downside as well as an upside.
In my comments, I will discuss the seven deadliest sins of executive compensation, the two key elements that are essential for any plan that merits support from investors and the only metric that matters in looking at pay.


MY COMMENTS:
The main idea of this issue can be conclude with two sentences below:1.CEOs often line their pockets use their rights, wether they do a good performance or not; 2.If the deals are good ones, he will be adequentely rewarded when the benefit of these deals is reflected in the stock price.

Balanceing these two people's reasons, I think CEOs actually deserve their pay given by the excutive pay plan. However CEO ordinary get more than that. The should think more about the cprporation which he got pay from. That is so-called responsibility.

emteddybearUID：2699606

你是说你的帖子不见了吗
你可以问问管理员哈
我以前也是的
现在好了

92# 不理不睬

emteddybearUID：2699606

补上
reiterate:重申 Ironically：讽刺的 oust：驱逐  preponderance ：优势 monetary：货币的 oxymoron ：矛盾修辞法 testimony：证词
sustainable growth：可持续发展 accounting cost：会计成本
boatload：1 : a load that fills a boat
2 : an indefinitely large number   obscure：使模糊
elasticity：弹性 out of whack：紊乱

不懂的：
1.The plural of anecdote is data
2.描写金融危机原因的，好多专业词汇
Top executive compensation did not cause the financial crisis. Instead, the crisis was caused by loose monetary policy, a global capital glut, over-high leverage at investment banks, mandates from Congress to provide mortgages to people who could not afford them, flawed ratings from the rating agencies and poor incentives at mortgage origination (not the CEO) level. Consistent with this, the financial crisis has spread to financial institutions in other countries with very different pay practices.
3.The second is the high likelihood that the previous incentive structure was a significant factor in the bad decisions and catastrophic risk management that created the need for the funds in the first place.

MY COMMENTS:
After reading the intensive rebuttal, I find that we can't decide which side to support.When one provide some evidences while other also can fine testimony to attack it. In last rebuttal, Mr Kaplan gave some exact data to tell us the measurement of the CEO pay, and also the declining tendency. While Ms Minow only gave the two examples, which is called anecdotes. And the plural of anecdote should not be data. What's more Mr Kaplan pointed that top excutive compensation is not the main cause of the finacial crisis. And I think that's ture.

Cofronting those question, Ms Minow give vigorous counterattack.Ms Minow lists clearly pay of recently years other than some examples, which makes her debates more cogent. At last, Ms Minow gives us the main seven sins of the out-of-whack system. I think this is the symptomatic problem as well as the cuase of this topic they are debating. If only we find them, can we know the truth.

emteddybearUID：2699606

补作业 哈哈，终于有一个我熟悉的题目了 dog-eared :翻旧了的 At the last count：据最新统计 aversion：厌恶 resort ：求助 as a matter of course：当然 encryption ：加密 rigorous：严密的 mnemonic：注记的 最后一段啥子意思啊，没有懂呢，前面说了那么多，为什么为了保险起见，还是要带个小本本呢，奇怪，突兀 (刚刚写comments的时候发现了，是不是就是说用软件的方法不适合外地旅行啊，然后他们还是必须要带上小本本) good things： 1.Unfortunately, the easier a password is to remember, the easier it is for thieves to guess. Ironically, the opposite—the harder it is to remember, the harder it is to crack—is often far from true 2.Choose passwords that are strong enough to make cracking them too time consuming for thieves to bother. MY COMMENTS： In our daily life, internet is indispensable, people spend more and more time to surf the internet. Forum, free-nets etc. are the main froms. But each forum require a ID and a matching password.That means if we want to enjoy the net we must remember the trivial passwords before. So how to rememeber them is a big problem.In the report, the writer gives us some simple methods, recording in a memo pad, use some software. I think the first method is not security. And the second method has some limitations.Firstly, if you remember them relying on the post-it notes, it can be easily be stolen by others and can be easily lost. Only if the passwords are not so important, can we use this method. Secondly, as for using the software, it is only fit for the local computer. If some people go out for a trip, it's inconvenient,even unrealistic somewhere. So in my opinion, we should set our ID or password easily to remember ouselves, while others don't know. And we can make most of them quite similar, or even the same. That is the most practical.

emteddybearUID：2699606

clutter:凌乱
curiously：好奇的
buoyant：无忧无虑的
taste ：鉴赏力
sentimental：多愁善感的
porcelain：瓷器
top-ranking ：一流的
prolific ：多产的
fussy ：爱挑剔的
knickknack：小玩意

good things：
1.Behind them the sea, silvery, shimmering and full of light, has the same idyllic quality of water painted at the time by the Scottish Colourists
2.But there are no men in any of Knight’s pictures of this period, reminding viewers that war was close at hand.


my comments:
After finishing the artical is a commentary, it's mainly about the recently sale of the Sotheby’s , which was surprising busy. What's more, there are three art work are mentioned. I think it attempts to tell us that when contemporary art market seeks the "new", the old-fashion work is also the one of the dealers' best love.Actually, I don't know anything about art, either its economic benefits. I just know that rich people buy art works to keep their wealth.
At present, it's economic crisis. The reason of art works' fervency is quite clearly. People want to invest less and get high repayment. Maybe this theory is true, just like the  housing prices. At present, the housing price is so high that we can't afford it. But some rich people who really don't need so many houses are still puch up the price.
But art work is not entirely the same as house price . For our ordinarmost people, house is the necessity, while art work is not.

emteddybearUID：2699606

补12.28
bureaucratization:官化
turmoil：骚动
satire：讽刺
clamour：喧闹
gospel：绝对真理
pervasive：遍及
guru：咕噜，领袖专家
replicative：重复的，复制的
orphan：孤儿
outcast：被遗弃的
garret：阁楼
in place：在适当的位置
triumph：胜利，喜悦
swear：诅咒
pantheon：万神殿
enthusiasm：热情
free-wheeling culture：不受约束的文化
scandal：丑事


good sentences：
1.The conference was so popular that the organisers had to erect a huge tent to take the overflow.
2.Speaker after speaker praised entrepreneurship as a powerful force for doing good as well as doing well.
3.This special report will argue that the entrepreneurial idea has gone mainstream, supported by political leaders on the left as well as on the right, championed by powerful pressure groups, reinforced by a growing infrastructure of universities and venture capitalists and embodied by wildly popular business heroes such as Oprah Winfrey, Richard Branson and India’s software kings.
4.you can see immediately they have to be true, or at least on the way toward truth.
5.The defining characteristic of entrepreneurship, then, is not the size of the company but the act of innovation.
6.Entrepreneurs may be more independent than the usual suits who merely follow the rules, but they almost always need business partners and social networks to succeed.
7.The information age is making it ever easier for ordinary people to start businesses and harder for incumbents to defend their territory
.
MY COMMENTS
This report is mainly about the entrepreneurship, to begin with the example of Indians. There is one sentence, which is that age makes heroes. Since the economic recession last year, entrepreneurship is hotter than before, especially in our country. Because the decrease of the employment, the governors suggest that people, especially the graduated students, should go out and start up their own business. On one hand, it can incite the economy; on the other hand, it can provide more opportunities for others.

However, before we start up our business, we should make something clearly. Just follow what this report says; we should define the “entrepreneurship”. It is not the corner ship, but must include innovation. Under the high-tech and information age, innovation plays more and more important role. As our young, we should make our sense more widely, increase our ability，make the possibility of our business bigger， and finally be heroes of the world.

emteddybearUID：2699606

religion：宗教

Endure：忍受，持久
sanctity：神圣
chapel：教堂
holiness：神圣
a far cry from：与什么相差很远
ecstasy：狂喜
hideous：难看的，令人讨厌的
propensity：癖好
notion ：概念，意念，观念

obedience：顺从，服从
metaphysical ：新而上学
The more a religion stresses ecstasy, the less it seems hidebound by rules
eschew：避开
Catholic ：天主教
curb：控制
elegant：优美的

provocative：挑衅的
endorse:赞同
radical：根本的，激进分子
theology：神学的
myriad：无数的




good sentence：
1.WHEREVER their investigations lead, all analysts of religion begin somewhere
.
2.faith would not have persisted over thousands of generations if it had not helped the human race to survive.
3.the picture is muddied by the vast changes that religion went through in the journey from tribal dancing to Anglican hymns.
4.by promoting moral rules and cementing cohesion, in a way that makes people ready to sacrifice themselves for the group and to deal ruthlessly with outsiders. These arguments are well made.
5.
Perhaps his brief autobiographical reference to Eton should have noted the bonding effect not only of chapel, but also of songs like “Jolly Boating Weather”.




MY COMMENTS:
This is a review of a book about religion, written by Nicholas Wade. Because I have no idea about religion, I just fellow the report’s idea when I was reading this report. However there is a place catch my eyes. Whether the religion is useful? I think it is a good ISSUE topic. Obviously, MR Wade thinks it is useful, and give the statement that faith would not have persisted over thousands of generations if it had not helped the human race to survive. And I have the same idea.

What’s more, after having reading this report, I find that it’s useful to read something about religion, philosophy, even bible, in order to know well about the west culture.

emteddybearUID：2699606

补12.30
The president was told during a private briefing on Tuesday morning while vacationing here in Hawaii that the government had a variety of information in its possession before the thwarted bombing that would have been a clear warning sign had it been shared among agencies, a senior official said. 怎么断句啊


the group’s Yemeni branch  啥意思啊

生词 for me：
accountability:有责任心
intelligence：智力，情报，理解力，消息
charge：费用，管理，指控，收费，冲锋
retrospect：回顾
elaborate.：详尽的
allude：暗示
triggered ：引发的，触发的
out of sight：视野之外

accuse:指控

escalate：逐渐成长
aviation：航空学
at stake：在紧急关头
nominee：被提名

grandstand：哗众取宠的表演


MY COMMENTS:
Actually, I really don’t understand every sentence in this report, while just get a main idea about it. It is mainly about something incited by the recent terrorist attack. Of course is the debate between the Republican and the Democrat. Nodoubtedly, this kind of conflict can’t be avoided, but I think this two partyes should stay the public’s profits as first. Although power is quite important for them. At present, the situation is quite disharmony. The two partyes’ debates is so obviously that it incites the terrorist attack in some instance. If that is true, I think the appearance will not decrease but more rampacy。

emteddybearUID：2699606

补12.31
thrill:兴奋
elegance：优美
gauge：测量，估量
gravitational：万有引力的
hypothesis：假说 apprehend：领会，理解
paradise：天堂，乐园
perceive：感知
savor：尝试
subtle：微妙的
shiver：战栗，发抖
predilection：偏爱




good sentence
1.you can see immediately they have to be true, or at least on the way toward truth.
2.Generation after generation, we puzzle out formulas, test them, and find, to an astonishing degree, that nature agrees.
3.I spent my teenage years scrambling up the mountain of mathematics.
4.I'm never more aware of the limitations of language than when I try to describe beauty.
5.the experience of beauty is an echo of the order and power that permeate the universe.
6.It restores our faith in the generosity of nature.
7.A universe so prodigal of beauty may actually need us to notice and respond, may need our sharp eyes and brimming hearts and teeming minds, in order to close the circuit of Creation


MY COMMENTS:
To be frank, I’m confused having finished this report, and I only get some main idea about it. It is true that everything in the cosmos is beautiful. In other word, there is not lack of beauty, but lack of discovery. When the author said that the equation is so beautiful, charming, I think some students, whose major is the liberal of arts, can’t understand it. Why such so dull equations will be beauty? What kind of equations can be divided into beauty? I think this question is rather to be thought than expressed. Only our science students can understand the beauty of the speed of light being 3.0*e8. It needs training. In my eyes universe is quite beautiful but not simple. So when people use some simple, concise and symmetry theories to tell us how our universe running, why not we call them beauties? Thanks to the wisdom of our ancestors. They are so great!

emteddybearUID：2699606

补1.1

frontier：边界，前沿 quaint：奇特的 coast ：海岸 polar-bear：北极熊 badly needed housing：急需房屋 debilitating ：make  weak heed :注意 submarines：潜水艇 quite literally：好不夸张的   literally：字面意思 Denmark：丹麦 tricky：狡猾的 rival：竞争对手 ironic：讽刺的 protocol：协议 MY COMMENTS： After finishing this report, I recall that we have read another report about this problem on 12.18 comments task. Each country doesn’t want to concede to reduce the emission, even in China. Because China is a developing country; and we’re in the period of highly development. The discharge amount is higher than developed countries. Those developed countries, mainly USA, require us to pay for this emission. But we don’t agree with such kind of statements. Each country who wants to develop will experience such special time, especially the European country developing based on industry. At presents, they don’t discharge co2, only because they have been over it. In the past, they also had given wounds to our nature, without less than us. So they shouldn’t only ask our developing country to pay. It’s unfair. Now, back to this report. Each country wants to develop, so it’s not strange that Canada wants to wide to the far north, especially suffering the Green-Housing effects. Adding American and Soviet, still now we don’t know whether they will get what they want. However the desire of human beings is endless. What I want to say is that, when people ask for more from nature, just think more about our descendants.

从头在来UID：2734217

So you may wonder

emteddybearUID：2699606

补1.2
cryptic：神秘的
Vitascope：电影放映机
agility：灵巧
exclusive rights ：专利权
ferociously：野蛮地，残忍地
fast-forward ：快进
bleeding-edge：尖端
quintessentially：典型的，精髓的
spate：大批，大量
obsession：困扰
visionary：幻想的




good sentences:
1.We now live in a world of the 24-Hour Movie, one that plays anytime and anywhere you want (and sometimes whether you want it to or not).
2.When it was over, people broke into enthusiastic applause and, unusually, many stayed to watch the credits, as if to linger in the movie.
3.“Avatar” affirms the deep pleasures of the communal, and it does so by exploiting a technology (3-D), which appears to invite you into the movie even as it also forces you to remain attentively in your seat.
4.Film captures moments in time, preserving them spatially in images we can root around in, get lost in.
5.Narrative cinema employs devices, from camera placement to editing, that direct your attention and, if the movie is successful and you fall under its sway, lock you into the story.
6.You can get lost in a movie, or so it seems, and melt into its world.

MY COMMENTS:
I think this topic is quite interesting for most of us. Maybe sometimes film is one of the most important entertainments in our daily life, especially for us generation. This report is introduced by the film “Avatar” which is made by the new digital technology (3D). And I am expecting that too. But it’s pity that there is no Imax room in CD. So sad. I hope there is an Imax room quickly, and we can enjoy the 3D films made latter.
AS for the new technology, I think it’s important and meaningful. Maybe sometimes you can’t perceive the change immediately, but undoubtedly it is changing better and better. In other words, film can’t be changed from Edison’s vitascope over one night, it experiences a long time to improve, and it depends on the development of social technology. Maybe audience doesn’t care about what advanced technology involved in the film. What they care a lot is only the feeling and the relaxation.

emteddybearUID：2699606

问题：1.It's not the person that charges ahead and rallies the troops.这句话什么意思啊
2.They [believed that they] were actually beyond any controls or rules—that Nietzschean moral of the super-masters. We will get back to more controls, the golden rules, more supervision, getting rid of
superficial things. History is very recurrent

and we are attending again a move of the pendulum.这句也不懂

clamour:喧闹
gung-ho：同心协力的
dean：学院院长
explicit：详尽的
reinvent：再造
grind：磨碎

subtle：微妙的
nuance：细微的差别
mindset：心态
sceptical：怀疑的
overtly：明显的，公然的
inculcate：谆谆教诲
leverage：杠杆作用，力量
exert：用力，施力
charismatic：有魅力的

superficial things：表面的东西
recurrent：循环的，再生的
pendulum：摆钟


MY COMMENTS：
As for this report, maybe its words are not so obscure, while its languages are so confused. Many sentences are hard to understand.

This report is mainly about the role of economic students. It is true that the economic crisis arouse people to think about a lot of things in our past period. Economic students are the mainly part of the source of the management. But there is a practical probelm [problem] that all these students are just full of theories but lack of experiences. How can they do the right decision? That is just my question in my mind.

Now, return to this report, the two deans gave us particular explanations about the question proposed at the begining [beginning] of the report. They all think that business schools play a important role in economy domain, and management is very much demanded these days. All the students in different majors (I think some literities [literaties] don't need) should be educated with some management course. I think that is true. But it is more reasonable that each university can give the selection of economic course volunterily [voluntarily].

What's more, Mr.Santiago said that administrations should make more preparations in finance, in management in order to take better decisions. It is a good suggestion. But one of MR.Danos' statements is a little unfair, although he gave some explanations. "The crisis was not caused by the broad 90% of our students who went into businesses."
"I really think, at the end of the day, even though the banks themselves were irresponsible, the real irresponsibility was with the regulators because when everything else fails, the regulators are supposed to keep things safe and keep people from doing unsafe things and they didn't do it." When the managers have made some mistakes, the regulator should do some something to keep people from doing unsafe things, but he should not say that the business students didn't cause the crisis. I think they should take some responsibilities; alough [although] the faught [fault] is not belongs to them all.

emteddybearUID：2699606

paedophile:恋童癖
entice：欺骗
grief：悲伤
In no time at all：立刻马上，任何时候
latitude ：纬度，回旋余地
ensnare：诱捕，陷入陷阱
prostitute：卖淫的
indecent exposure猥亵暴露

prosecutor：起诉
molestation：折磨，损害
mug shot：面部照片
ruin：破坏
bar：阻止，栅栏
repeal：撤销

compulsive ：强迫性的
cowardice：懦弱的
vengeful：抱负性的




good  sentences
1.Had they known he was a sex offender, they would have told their daughter to stay away from him.
2.And registers give parents a false sense of security: most sex offenders are never even reported, let alone convicted.
3.However practical and just the case for reform, it must overcome political cowardice
, the tabloid media and parents’ understandable fears.
4.Sensible sex laws are better than vengeful
ones.


MY COMMENTS：
This report is mainly about the sex law, which really changes my mind about the etics【ethics】 of european【European】
countries. What I want to say is just that the sex offender law is a little ridiculous. I don't mean that sex law should not be proporsed【proposed】, but the one practised【practiced】 in Amercian【American】 is unreasonable, Just as the three reasons given by the arthor【author】. Why have their sex law changed like this? I think there are many reasons, and I want to list several below.

Firstly, American is a nation who strives for liberity【liberty】 and nature very much. Almost everyone in America have the idea that sex is something so nature that no one can interfere them, especially for the young people. However, this may give many offenders excueses【excuses】. As the growing up of this kind of crime, government【government】 has to strength the management, and vote to propose more and more items, but never repeal them because of the government's cowerdice【cowardice】.

Secondly, as paraents【parents】, everyone want to protect their childern【children】 from been hurt. In parents' opinoin【opinion】, each injury even very small is unforgivable. This must give government much more presure【pressure】 than normal. Maybe at times, it is not a offence, the poor mother Janet Allison is a good example.

Of course, there are many reasons, now I just give two. And what I want to talk about later is the problem in our country. Recently, the government is fighting the salacious webcites【websites】 and information which are spread by cell phones. In the last few years, our socielty【society】 has developed so fast, going with the development of the technology. For one thing, more and more people can surf on the internet and possess cell phones, enev【even】 many infancys【infancies】, who is lack of the ability of self-control and discriminate power. Especially in our country, the relative law and network security is not very robust. For another, with China's WTO accession, China has been effected【affected】 a lot by European, not only the technology, but also the moral ideas. People in China are more and more open, which makes such voluptuous things much more than before. I really hope that this situation can be better soon. It is really harmfull【harmful】 for any people and any nation.