market_leader_3e_-_intermediate_-_course_book (851943), страница 40
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. . for people to invest in gold in terms of their jewellery, asYesterday was another day of heavy trading on the stock market withwell as wishing to own ... to own that asset. So, I think gold, fixedbig losses in share values. The forecast for the near future is not good,income securities and early cycle equities would be my answer.as market confidence remains low.Paradise Lane, the struggling luxury hotel group, is seeking newinvestment to try and avoid bankruptcy, following the announcementCOl TRACK 40Business in briefof disastrous interim results.
It currently has a debt of nearl), 55 billion.it was a bad day for the London market. Following disappointingThere are rumours ofrivals GHN taking a large equity stake in theresults from FedEx in the US and (ears of a credit crunch, the FTSEtrOll bled hotel group.100 fell 105 points or 1.8 per cent to 5,756.9, while the FT5E 250 fellPhoenix Media annoullced a 15% increase in pre-tax profits on an189.1 points or 1.9 per cent to 9,534.8.annual turnover of $4.5 million. Added to the strong performance inOnly eight blue-chip stocks managed to make gains. The bestthe last quarter, this is likely to result in an increased dividend of overwas Smith & Nephew. Shares in the medical devices group rose14 cents per share, well up on last year, which will certainly please2.9 per cent to 595 lhp after UBS upgraded the stock to a 'buy'shareholders.
Following a rise in sales in the emerging markets of . . .recommendation. S&N was also supported b), rumours of a bidapproach from aJapanese company.COl TRACK 37 ( l INTERVIEWER, O M DARRELL MERCER)ICould you tell me what your role is as an investment director?OM lhe aim of the business is to provide investment solutions for private==On the other hand, British Airways, down 5.2 per cent to 225 J/4p,fell even further after Morgan Stanley cut its target to 149p.
This wasbecause ofworries about increaSing fuel prices.individuals who have, er, capital that they wish to employ to achieve aTate and L)'le, the sugar and sweeteners group, lost 5.2 percent to 402 l/.pcertain level ofreturn. Um, my role as the lnvcstment Director is to bothafter CityGroup lowered its forecasts because of rising com prices.design the strategy for the client with the intention of meeting that aim,FollOWing recent floods in the US, the cost ofcom has risen 25 per cent.that return, and also then manage that strategy on an ongoing basis.IDARRELL MERCER)OM There arc a number ofattractive areas, and I think I've touched on oneoutdoor advertiSing on hoardings and public transport. This will beCOl TRACK 38 (I=In difficult economic times, what would you suggest are attractive=INTERVIEWER, OM=DARRELL MERCER)COl TRACK 4150, to summarise, our product is a storage device with a modularWhat are the main areas that you invest in?deSign.
It's vcr)' flexible, vcr)' versatile. it can be divided up, addedOM We invest in a number of different areas ... to try and, as I saidto and shaped to fit any space in a house or apartment. You can putearlier, to keep the overall spread of investment right. And they reall),bottles, flowers, magazines, fruit, nuts, lots of other things in it. It'sstart frol11 the lowest risk asset, which is cash, and then we introducelightweight, durable and very stylish, and made out of a special,other asset classes that have different risk and return profiles. 50recyclable material.as one is prepared to take on a bit more risk, then obviously one isWe're looking for an investment ofS200,OOO from you in return for agoing potentially to get some more return. So, moving up the scalestake of25% in our business.
"nle name of our product is MultiStore.of risk we go from cash to fixed-interest securities, where in effectthe client will be lending their money to either a government or acompany in return for a fixed rate of return, with the view that capitalwill increase over a period of time. We then look at, lim, index-linked- i.e. linked to the rate of inflation - securities. Equities will be thenext level of risk - an equity being a stock or a share - where you'rebuying part of a compan)', and obViously as the company performsbetter, the price of that share should increase. We then look at slightlymore esoteric or different areas of investment to give some returnthat's not linked to equity returns ...
to share returns ... for instance,commercial property is an area where one can achieve a fairly goodincome return, but you're investing long term into bricks and mortarCOl TRACK 42 (Tl = TYCOON 1, T2 = TYCOON 2,El = ENTREPRENEUR 1, E2 = ENTREPRENEUR 2)T1 OK, another question I'd like to ask you. Have you taken out a patentfor the device?El Yes, we have. The product is fully protected against copying.Tl Excellent. And what's your profit margin on each I O-module unit?El It's approximately 80%.T1years, turnover and profit?El In year one, we forecast a turnover ofS1 SO,OOO and a profit ofapproximatel), S 120,000. Year two, turnover ofS600,OOO and a profit- something that ),Oll can see ... something that's slightly more safe.of5480,000.
And in )'ear three, a turnover ofS3 million and a profitWe also look at, er, commodities ... so looking at precious metalseither gold or platinum. We look at agriculture, which has becomean interesting area of development over the last 20 years. And thenT2we have the final asset class we call our alternative investments, andE2they can be either hedge funds, which invest in lots of difrerent areas,or something that's called absolute return funds, where the managerwill invest money across a whole wide range of areas with the view togiving small incremental elements of return over a reasonable period.And as I said earlier, we try and combine those asset classes to get thebest level of risk and return.Mmm, quite good.
And how about your forecasts for the next threeof$2.4 million.Now I'd like to ask a question. How many of the 1 0·module unitshave you sold, and who have you sold them to?I can answer that question, as " m the sales person in our tealll. \"'e'vesold about 2,000 units, mainly to major department stores andspecialist shops for household goods in New York and Chicago.T2 OK, thanks for all the information. Now, I'll tell you what I think.I like your product, it's definitely got sales potential, and I'd liketo make you an offer.
I'll give ),ou the full amount, 5200,000, butI'd want a stake of 50% in your business. The market for this sortofproduct is vcr)' competitive, there's a lot of risk involved, andmarketing and promoting it could be very expenSive. So that's thedeal I'm offering you.157AUDIO SCRIPTSElT1Mmm . . . we'll have to think about that. OK, thank you. How ahoutcultures the concept and perception of timekeeping is very differentlyou? Arc you interested as well?and I guess the obvious one that people always use is the exampleYes, I like the product as well, but I also think it'll need a lot ofoflhe MJddle East. TIle Middle Eastern dock really revolves aroundmarketing to get established, and you may have to change thetwo things really - the prayer times and of course, because they werepackaging.
So . . . I'll offer you the full amount,desert travellers, about the movements of the sun and the moonl er,5200,000, for a stakeduring periods of the day.of45%.Um, other examples is where, abrain around time, where) perhapsEl OK, so we seem to have two offers on the table. Could I ask each ofT1T2you, what business expertise you could bring to our business? Howfrom a Latin culture's perspective, um, it's about buildingmuch help could you give us, apart from money?relationships before you actually get down to, to business.
Now veryWell, I have a company which sells household products to the retailoften Westernl and particularly American, bUSinesspeople find thattrade, and it's very successful. You would be able to usc our salesvery frustrating. For Americans, time is mone)" and so they'll beforce to build up sales and develop the brand. And I would be veryvery keen to actually ... er, the salesman will be very keen to get outhands-on in developing your product.his sales literature and start exalting the virtues of the product he'sIn my easc, I have a very good track record investing in start-uptrying to sell yOll, er, they'll try to get on with the agenda as quickJybusinesses like yours.
Basically, I invest in people, and I've beenas possible, whereas) particularly in Latin cultures and also in peopleimpressed with your presentation. I think we could work well together.like Chinese cultures, relationship building is very important. They'llEl Thanks to both of you. Could we have a break and consider your offer?n&2 By all means/certainly. Take your time..want to entertain you for sure, and very often invite you back totheir home, and all this before they actually want to sit down anddo business with you because, in the Latin culture, they arc makingWORKING ACROSS C U LTURES 2:I N TER NATIONAL M E ETINGSCOl TRACK 43The culture we come from or live in influences what we sec, do, believeand say. It affects our expectations and behaviour, and we need to be verya\vatC ofit.
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