商务英语：初入职场Unit 6 Finance.pptxVIP

Unit6FinanceThebottomlineLearnBusinessDoBusiness1

Reading13LearnBusiness2BIZknowledge2ListeningSpeaking

LookatthegraphshowingtheperformanceoftheEnronshareprice1991-2001andmatchthechangeswiththetimeperiods.ReadingWarmup3

1fluctuatedmildly2asharpincrease3reachedapeak4rosesteadily5droppedslightly6adramaticandsuddenfallA2000-2001B1991-mid1993Cmid1993-1994D1994-1998E1998-2000F2000ReadingWarmup4DCAEFB

EnronEnron,aHouston-basedenergyfirmfoundedbyKennethLay,transformeditselfovera16-yearperiodfromanobscuregas-pipelinebusinesstotheworld’slargestenergy-tradingcompany.Enronwassuccessfulforalongtimebutthenranintodifficulties.ItsattemptedentryintoCalifornia’sretailelectricitymarketwasproblematic.Thecompany’s10-yearinvolvementinDabhol,anIndianpower-plantproject,alsowentbadlywrong.InOctober2001Enron’ssharesandcreditratingplunged.ThecompanywasforcedtoagreetoamergerwithDynegy,arivalfirm.ButDynegybackedoutinNovemberbecauseofconcernsaboutEnron’sdebt.(ItalsofearedlegalactionoverirregularitiesinEnron’saccounting.)Enronthenfiledforbankruptcy.5ReadingBackgroundinformation

RoyalAholdRoyalAholdoftheNetherlands,theworld’sthird-biggestfoodretailer,overstateditsprofitsfor2001-02byasmuchas$500m.Ahold’saccountingirregularitiesmainlyinvolvedAmericansubsidiariesthatithadboughtovera10-yearperiod.Butthecompany’sAmsterdam-basedauditors,DeloitteTouche,failedtopicktheproblemsupin2001,eventhoughworriesaboutAhold’saccountswerewidelyexpressedinthemarkets.Ahold’sboard,insteadofaskingquestions,extendedthetermofthechiefexecutiveforuptosevenyears.TheDutchmarketregulatoradmittedthatithadnopowersofdisciplineoverfaultyauditing.6ReadingBackgroundinformation

irregularityn.违规行为e