market_leader_3e_-_intermediate_-_teachers_book (852197), страница 43
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Pfizer argues that parallel10acounterfeitbloodversionpressureof adrug.Pfizer said the rats i t used in theadvertising by drug companiestrading risks allowing fakes intoadvert were supplied by trainedto raise their public profi le. inpham1acics.specialists and not killed duringspitethe132ofon the Internet. The advert, to belt25corporateAgency.i l legallyfi lmgoers dig into their popcorn.20per cent.
with mostsold via the I nternet rather thanpurchasing prescription medicines15Ito Pfizer's medicines. but showsof10only aboutThe film contains no referencehasoftightmarketingrestrictionsofonButprescriptionmedicines to consumers.thecounterfeit50overalllevelmedicinesinoffilming.thedeveloped world is estimated at© Pearson Education Limited 2010 PHOTOCOPIABLETEXT BANK1 Look at the headline. Which of these wordsmeans the same as counterfeit?a) authenticb) fakec) substituted) similar2 Read paragraph 1. What is the purpose ofPfizer's campaign?a) To promote its productsb) To advertise popcorn... ...UNIT 5Over to you 1Do you think that shock advertisements such as thiswork? Give your reasons.Over to you 2Think of other examples of parallel trading.
What steps,if any, do manufacturers and retailers take to preventthem?c) To dissuade people from buying drugs that mayharm them3 The advert is best seen before filmgoersdig into their popcorn. (lines 8-11) Why?•••4 Match the two parts to make expressionsfrom paragraphs 2 to 4.12345678safetycommercialunregulatedpublictightcorporatepioneeringparallela) salesb) restrictionsc) profiled) partnershipe) lossesf) concernsg) tradersh) logo5 Now match the expressions in Exercise 4to their meanings.i)when unauthorised products are soldii)when two organisations do something forthe first timeworries about the dangers of somethinga symbol used by a companywhen no profit is made in selling somethingstrict rulesunauthorised sellersthe ideas that people have about anorganisationiii)iv)v)vi)vii)viii)6Why does Pfizer object to unauthoriseddistributors selling its products in the UK?a) lost profitb) safetyc) other reasons7 What do these figures refer to?a) 1 per cent (line 5 1)b) 10 per cent (line 5 5)c) a fifth (line 61)d) 500,000 (line 65)e) 731,000 (line 65)8 Why were rats used in making theadvertisement?PHOTOCOPIABLE© Pearson Education Limited 2010133UNIT6M o n ey"�<"•�·�Fl NANCIAL REPORTI N G.__ ;..: ;· �Before you readWhich is the biggest retailer in your country?ReadingRead this article from the Financial Times and answer the questions.FTLEVEL O F D I FFICULTYe e 0Wal-Mart profits reach $ 1 3bnby Jonathan B i rchallWal-Mart,theworld'slargestretailer, beat expectationsafterfor about 50 per cent of all US30retail growth last year - whileits full-year global sales passed$400bn(€3 1 8bn) for theMike Duke, Chief Executive,35of D&S, the largest retailer i noperatingbeen u p 5.1calledImpact, nowProjectunderwayinThe60had gained 'momentum' duringboostthe year i n all of its markets,footthesalesitssignificantlypermorethansupercentres and discount stores.haveretailerhighl ightedthewithandincreasedcustomeraveragepurchasesmade.square3 ,000wouldper cent and netin the UK, which gained marketthetrafficofincomeperformance of its Asda storesMarttoAtsales up 9 per cent.year results showed that Wal-Martexpectsdown$ 1 .5bn.constant currencies, internationalshare40centChile.programme,65InJapan, Wal-Martreportedthat comparable sales at its Seiyustores fell 0.5 per cent from theenvironment.
'We are doing a l lTotal net sales at Wal-Mart USAt h e right things t o continue ourrose 6 per cent on the last qumterlast quarter, but were positive inmomentum and to widen the gapto $7 1 .5bn, although higher thanNovember and December.expected45The resultsagainexpenses.costs,includingledtoitsslowly than sales, up 2.2 per centunderlinedto $5.4bn.Internationally, the strong dollarcash in a recession and to use themoney to invest in its businesshealthcareoperating income growing moreFebruary is off to a good start.'the retailer's abil ity to generate13455its stores with a big remodellingbetween the competition and u s .25atinUS. With this programme, WalWe finished January strong, and20incomeperdealsaid the fourth quarter and ful l in spite of the tough economic15operating1 4 .3$2.6bnI t i s continuing to invest i nfirsttime and profits h i t $ 1 3 .4bn.10andaJanuary for a controlling shareits US discount stores accounted5been able to make acquisitions,concluding5oweighed on earnings, with theat a time when most of its rivalsvalue of sales down 8.4 per centare cutting back.
Wal-Mart hasfrom the last quarter to $24.7bn© Pearson Education Limited 2010 PHOTOCOPIABLETEXT BANK ... ... UNIT 61 Match the verbs with the nouns to makeexpressions from paragraphs 1 to 3.123456a)b)c)d)e)the gapmomentummomentumexpectationscashf) acquisitionsbeatgainwidengeneratemakecontinueOver to you 1Look at Exercise 4. Find similar information for acompany you are interested in, perhaps by looking at itswebsite.Over to you 2Which is the biggest retailer in your country? How is itcurrently performing in relation to its competitors?2 Now match the expressions from Exercise 1to their meanings as they are used in thearticle.i)ii)iii)iv)v)vi)become more successfulcontinue successmake moneyincrease a difference in performancebuy other companiesexceed forecasts3 Look at paragraphs 1 to 4 and decide if thesestatements are true or false.In its latest financial year, Wal-Mart ...a) performed worse than had been expected.b) was responsible for half the growth of all USretailers.c) had sales of more than $400 billion for the firsttime.d) had profits of less than $10 billion.e) had a better financial performance, even thoughthe general economic conditions were not good.f) performed better than its competitors by thesame amount as before.g) had good sales in January, but less good inFebruary.h) was able to buy a company in Chile only byincreasing its borrowing.i) is putting more money into its US stores.4 Complete the information about the lastthree months of Wal-Mart's financial yearusing information from paragraphs 5 and 6.a) International sales: $ .
. . . . . . ..b) Operating income from internationaloperations: $ . . . . . . . . .c) Increase (+)/decline (-) i n international sales indollar terms: . . . . . . . %d) US sales after costs: $ . . . . . . . . .e) Increase (+)/decline (-) in US operating incomeafter costs: .
. . . . %f) US operating income: $ . . . . . . . . ... ....5 Which store chains does Wal-Mart own in theUK and Japan? How did they perform?PHOTOCOPIABLE© Pearson Education Limited 2010135UNIT6M o n eySHORT S E LLI NG"�;•.Before you readIs it acceptable to be able to sell something that you do not own?ReadingRead this article from t h e Financial Times and answer the questions.FTLEVEL OF DIFFICULTYe e 0Are short sellers necessary?by Wi l l iam Leiththe label. To me, they look l i kerubbish handbags. So I go tohe thinks there ·s something in itthe owner of the store and askfor h i m .make a normal investment, you5him, for a small fee , to borrowmore desirable in the fuLUre.
Thisthesetype of investment - 'going long'Then I take the bags out of the- seems to be about optimismstore and sell them to a traderNow.sellers?week.60whoareWhatthesesortofshortpeopleare they l i kely to be? Wel l , theyare people who see things thatlook good onare actually rubbish.
They arcthink i s going to decline i n value.he can make a profit.shortselling,35the su rface butpeople. in other words, who seethedifferenceThen you borrow some shares inSix clays later I go to see h i m .that thing. Next, you sell those1 was right - the handbags wereappearance65betweenandthethereality.rubbish. He hasn't sold a singleThey are the first to notice whendiscerning.one. So I make a deal - I ' l l buysomething is a con.
Short sellers,than you. If you're right, andthem back for half of what 1thecansold them for. Now he's happybuy them back for less than youto get rid of them. The nextsharesthem.orlessplummet,Ifyou'reyouwrong,4045and they treble in value. you'reshelf of expensivehandbags. Let's say IlookatI , the short seller. have spottedthatsomebodyischargingthese handbags for a while andlot of money for handbags thatare rubbish.
Next, I ' ve foundsomebody who is prepared tobelievethey'renotworth anything like the price onapparently.realise thatpromises and false values thatenables them to thrive. To banthem is to shoot the messenger.acometopeoplesellers. It's the world of empty75So what's actually happened?sosellers,madeEnron was a rubbish product.He ·s happy, but maybe a littlebigshortwhoNo, the problem is not the shortthe bags to the owner.suspicious. That's short selling.awasreturnbust, because you still owe theImagine if I go to a shop andin fact , reveal the problem. I t10day.
I go back to the store andshares to their original owner.see136athe label. He ·s happy - he thinkssold25forfor a fraction less than the price onhope. Withshares to someone who is more20handbags55you look for something that youoptimistic,1530buy something, hoping it will beand10sell any old rubbish as long asShort selling is not like makinga normal investment. When you© Pearson Education Limited 2010 PHOTOCOPIABLETEXT BANK .... UNIT 61 Choose the correct alternative to completethese statements about the expressions initalic.a) In short selling (line 1), you expect that the valueof something will ...i) fall.
ii) stay the same. iii) rise.b) If you go long (line 6), you buy somethingexpecting that its value will ...i) fall. ii) stay the same. iii) rise.c) If someone is optimistic (line 14), they think thefuture will be ...i) worse. ii) the same. iii) better.d) If someone is discerning (line 14), theirjudgement is ...i) bad. ii) good. iii) mistaken.e) If the value of something plummets (line 16),it falls ...i) a little.
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