Read the text giving English equivalents to the Russian words. Put 10 questions to the text
The money needed to start business is called capital. If a person doesn’t have enough capital he may (занимать) some from the bank in the form of a (заем) or an overdraft. Before the bank will give a (заем) he must pay up some (залог), such as his house, in case he can’t pay back money. (Залог) is also called collateral. If a business owned by one (владелец) runs into trouble, the owner is (обязан) to pay all the (долги) to his creditors, even if he has to sell his private possessions. A sole proprietor is personally (ответственный) to his creditors.
Sometimes two or more people own and run a business. This is called a (товарищество). People who invest money in a business are called investors or backers. The investors in a partnership are all partners and owners. Usually all the partners have personal unlimited (ответственность) for debts to creditors. A partner who invests money in a partnership but who does not (руководить) the business is called (пассивный партнер). Sometimes a (пассивный партнер) can have limited liability, that is his liability is limited to the amount of money he invested.
All the investors in a limited company have (ограниченная ответственность). Investment in a limited company is in the form of (акции). Everyone who buys (акции) in the company is a (акционер). The (ответственность) of each shareholder is limited to the amount of his investment. If a person has (акции) in a company, he is said to have a (доля, часть) or holding in the company. If he holds 20% of the shares, he has more than a 50% holding, he is a (основной акционер). In other words he has (контрольный пакет акций) in the company.
Capital which is borrowed is called (ссудный капитал). Capital obtained from investors is called (собственный капитал). The ratio between the loan capital and the share capital determines whether a company has a high gearing or low gearing. A company which is highly geared to the bank has a high proportion of (ссудный капитал). A company which is low geared has proportionally more (собственный капитал).
TEXT B
Glossary
Make sure you know these words before reading the dialogues.
1) a progress chart - a map or graph showing the development of something (e.g. the company’s sales and growth); 2) to keep it up - (coll.) to continue smth.; 3) to show one’s true colours - to show one’s real purpose or nature (often unpleasant and for the first time); 4) to inject - (here) to invest; 5) to infuriate - to make very angry ;6) to keep an eye on - to watch very carefully; 7) estate - the whole of a person’s property; 8) sound - safe, secure; 9) loyalty - being true to a person or company; 10) genius - great ability
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Episode 7 REORGANIZATION
S c e n e o n e
Paul and Jack are talking in Paul’s office at Jayal Motors. Later they go to see Tom Jayal.
Paul:Well, according to our progress chart we seem to be doing quite well. You know, we have come a long way in two months, Jack.
Jack: Let’s hope we can keep it up.
Paul:How is the assembly plant expansion coming on? Is the work near completion?
Jack: Well, the 200,000 cubic feet for the engine assembly should be completed by the end of the month.
Paul:And what about those delivery trucks we ordered?
Jack: Four out of eight arrived. I got on to the suppliers this morning and the other four will be arriving any day now.
Paul:Good. Then we don’t seem to have any immediate problems anyway.
Tom: Paul! Get Jack and come to my office immediately. Kamal and his bank are beginning to get on my nerves. He is going too far.
Paul:Yes, I thought as much. Kamal wants us to merge with Multi-National Engineering Incorporated.
Jack: The MEI! Well, well, an extremely successful company.
Tom: Did you know about this, Paul?
Paul:No, not really. When we first started this export business I guessed that if we were successful Kamal might suggest something like this to protect the bank’s investment in us.
Jack: Or more likely to increase the bank’s profit. So Kamal has shown his true colours. He thinks we are too highly geared and the MEI are prepared to inject a large amount of new equity capital.
Tom: Right, but what infuriates me is that the MEI want 50 percent control of the company.
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Paul:Yes. And that means they will want to appoint their own Managing Director to keep an eye on things.
Tom: It’s out of question.
Paul:But I thought you were going to retire anyway, Tom?
Tom: Yes, but I am going to give my controlling interest to you and Tara, not to some foreign-owned multi-national after I’ve spent my life building up Jayal Motors from nothing.
Jack: The question is where we can get the equity capital without losing control.
Paul:Frankly speaking, I don’t know.
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