LTW4-Unit5-Visions-of-Bu教学讲解课件

ListenThisWayBook4Unit5VisionsofBusinessPartIGettingreadyPartIIMichaelDellvs.FrederickSmith(I)PartIIIMichaelDellvs.FrederickSmith(II)PartIVMoreaboutthetopic:TheBusinessPlanPartVDoyouknow…?PartVIIWatchandenjoyListenThisWayBook4PartIGettingreadyBusinessorganizationscanbehugeorsmall.Usually,partnershipsandindividualproprietorshipsaresmallwhilecorporationsarefarmoreplex.*proprietorships私营企业，独资企业PartIGettingreadyA.Thefollowingwordswillappearinthisunit.Lprietor业主，经营者2.partnership合伙企业，合资企业3.profit利润4.dividend红利，股息5.spark激发，激励，鼓舞6.eliminate删除，根除，消灭7.depreciate使贬值，降低的价值8.fulcrum支点，支撑，支持9.entrepreneur企业家A.ThefollowingwordswillaB.Listentoaneconomicsreportaboutbusinessorganizations.pletethefollowingchart.*liability责任，债务*dividend红利，股息B.ListentoaneconomicsrepBigSmallTheproprietoralltheTheproprietorLimitedSmallTwoormoregointobusinessLimitedpartnersFullpartnersLimitedInvestorsstockshareownershipAboardofdirectorscorporatepoliciestopofficersUnlimited______ofthebusinesspropertyAudioscriptHomepageBigSmallTheproprietorallthePartIIMichaelDellvs.FrederickSmith(I)ThenamesofMichaelDellandFrederickSmithcanbefoundinTimeandCNN’slistof“The25MostInfluentialGlobalExecutives”,andalsoinBusinessWeek’slistof“TheTop25ManagersoftheYear”.PartIIMichaelDellvs.FreA.MichaelDellandFrederickSmitharebeinginterviewedattheUniversityofTexas.Listentothefirstpartoftheinterviewandthenpletethefollowingprofiles.*fromthegroundup从头开始*nutsandbolts具体细节，基本要素*haveashot有机会，试一试A.MichaelDellandFrederickSMichaelDell: MichaelDellservesas__________and____of____________Corporation.Heisthelongest_____________inthewhole_________________.Byusinghisinnovative_______________marketingapproachandbypioneeringtheindustry’sfirstserviceandsupportprograms—the_______________revolution,___________Corporationhassuccessfullyeliminatedthe____________andestablisheditselfasoneofthetopvendorsofpersonalputersworldwide.puterindustrydirect-to-consumerbuild-to-orderDellputermiddlemantenuredCEODellputerCEOChairman*tenured享有终身职位的，有稳定职位的*eliminated消除，根除*vendors供应商，卖方MichaelDell:puterindustrydiFrederickSmith:FrederickSmithis________,________and____ofFederalExpressCorporation,or______,aglobalproviderof___________,e-merceandsupplychainmanagementservices.Butwhenhefirstcameupwiththeideaof_______________service,nobodyseemedtobeinterestedinit.Andnowwithits__________________system,Smithhasmade______amulti-billiondollarindustry.______usedtoprovidemainlywaterandairdelivery,butnowit’smakingabigpushintothe_______________business.grounddeliveryFedExFedExjust-in-timedeliveryovernightdeliverytransportationFedExCEOPresidentChairman*supplychainmanagement供应链管理FrederickSmith:grounddeliverB.Listenagainandanswerthequestion.Question:WhatdoesMichaelwantfromFred?Fredmuststaypetitiveinthefollowingaspects:1)________________ofservice;2)_________________ofthenetwork;3)___________________needed;4)_______________ThequalityThebreadthTheuniqueservicesThecost.AudioscriptHomepageB.ListenagainandanswerthPartIIIMichaelDellvs.FrederickSmith(II)DellputerCorporationiscurrentlynumberoneintheU.S.andnumbertwoworldwideinpersonalcomputersales,anditsannualrevenuesexceed$30billion.FedExstartsjustdeliveringstockfromoneplacetoanother,butnowitsportfolioofservicesincludesgroundpackageservice,overnightdelivery,seconddayglobaldeliveryandsupplychainmanagement.*portfolioofservices服务组合PartIIIMichaelDellvs.FreA.Listentothesecondpartoftheinterview.Focusontheconceptofsupplychain.pletethefollowingtwolists.*vacuum真空吸尘器*suckout吸出，抽出*depreciateinvalue贬值*mission佣金*academicrealm学术领域*logistics物流*Wal-Mart沃尔玛，一家美国的世界性连锁企业，总部设在阿肯色州本顿维尔。以营业额计算为全球最大的公司，其控股人为沃尔顿家族。沃尔玛主要涉足零售业，是世界上雇员最多的企业，连续三年在美国《财富》杂志世界500强企业中居首位。沃尔玛公司有8500家门店，分布于全球15个国家。沃尔玛在美国50个州和波多黎各运营。沃尔玛主要有沃尔玛购物广场、山姆会员店、沃尔玛商店、沃尔玛社区店等四种营业态式。A.ListentothesecondpartalltheunnecessarycostmoreapplicablethedistancebetweenafastcyclebasisaworldofchoiceonaputercustomizehaveitdeliveredveryrapidlyalltheunnecessarycostmoreaB.Listenagain.WhataretheCEOs'answerstothestudent'squestion?Question:Whatkeepsyougoingandwhathaveyoulefttoacplish?B.Listenagain.WhataretheMichaelMotivation:______________________________________Ambitions1.Tobe___________________________________________________________________________________________2.Todo_________________________________________________3.Toadd_______________________________________________alotofservicesthatgoalongwiththeproducts.businessnotjustintheUnitedStatesbutallovertheworld;andserversandstorage;aleadernotonlyinclientputing,butalsointheenterpriseTheopportunityintheindustry,inthebusinessMichaelalotofservicesthatFrederickPositiveattitudetowardsfuture: Beingtrulyexcitedaboutthe__________________Positiveattitudetowardswork:1.Enjoy________________________;2.Loveto__________;3.Loveto____________;4.Lovetoworkwith__________________________andsitrightinthemiddleof_________________________________________.pany’sfuturegoingtoworkeverydaypeteinnovatealotofwonderfulpeoplealotofveryexcitingbusinesstrendsAudioscriptHomepageFrederickpany’sfuturegoingtoPartIVMoreaboutthetopic:TheBusinessPlanBusinessplansoftenquicklybeeoutofdate.Theactualplanmayhavelittlevalue,butwhatismoreimportantistheprocessofplanning,throughwhichthemanagergainsagreaterunderstandingofthebusinessandoftheoptionsavailable.PartIVMoreaboutthetopicListentothe“WomeninBusiness”report.Writedownthekeypoints.Thenpletethesummarybelow.*accountingfirm会计师事务所Listentothe“WomeninBusineOneof______________________stepstowardasuccessfulbusinessisthe_____________.Itdoesn’tmatterwhetheryourpanyisa______oneora_________one.Whatdoesmatteris____________________tomaketheideaa______.Aplanis__________foranybusiness.Itislike_______foryourbusinessasto________________togo.Andabusinessplanistheverybestwayto___________becausewhenyoudoabusinessplanyou_____________infiguringouteveryaspect:______________youneed;_______________you’llneed;whetheryou’llneedpeople.Itgivesyouawayof_________________________________soyoucan________________torespondintelligentlyand__________________________.Soabusinessplaniseven____________forthose_____________________thatdon’thavemuchmoney,foritcanhelpto______________________intheverybestway.usethelimitedresourcesbusinessmaygopredictingwherethehowmanypeoplehowmuchmoneygofrom“A”to“Z”getstartedwhereyou’regoingamapessentialrealityhavingabusinessplansmalllargebusinessplanthemostfundamentalbuddingentrepreneursmorecriticalusetheleastamountofmoneypositionyourself*崭露头角的企业家AudioscriptHomepageOneof___________________PartVDoyouknow...?HaveyoueverheardaboutJuniorAchievement?ItisanoldorganizationintheUnitedStatesofferingallkindsofprogramstoteachyoungpeoplehowtodobusiness.Today,JuniorAchievementInternationaloperatesprogramsinmorethan100countries.Morethan800,000studentsoutsidetheU.S.aretakingpart.PartVDoyouknow...?ListentothereportwhichtellsuswhatJuniorAchievementisdoinginsidetheU.S.Supplythemissingwordswhilelistening.ListentothereportwhichtelAnorganizationintheUnitedStateshasbeenteachingyoungpeopleabouttheAmericanbusinesssystemforalmost____years.Nowweoperateinmorethan_____othercountries. JuniorAchievementistheworld’s_______________________________economiceducationalorganization.Itbeganin______inSpringfield,Massachusetts.Thegroup’sfirstprogramwasforhighschoolstudentsafter____________.Itsgoalwastoshowyoungpeoplehowbusinessesare___________and___________.Thestudentslearnedby__________theirownpanies._______businesspeopleadvisedthem. First,thestudents____________aproduct.Thentheysold_______intheircompany.Theyusedthismoneytobuythe____________neededtomaketheproduct.They_________theproductandsoldit.Finallytheyreturnedthe_____tothepeoplewho______sharesinthecompany.TheJuniorAchievement“CompanyProgram”wasverysuccessful.ItcontinuestoteachyoungpeopleaboutAmerican________byhelpingthem_________theirowncompanies.operateBusinessownedprofitsproducedmaterialssharesdevelopedLocalformingoperatedorganizedschoolhours1919oldest,largest,andfastestgrowing10080AnorganizationintheUniIn_____,JuniorAchievementbeganteachingstudentsintheir___________aboutbusiness.Today,thereare____________forstudentsofallagesfrom___to____.Morethan____________AmericanstudentsareinvolvedinJuniorAchievement.Theyaretaughtbymorethan_______businessadvisorswhoarenotpaid. JuniorAchievementhasprogramsforyoungschoolchildrenages___through___.__________businessadvisorsteachthe__________ofsuccessfulbusinesses.Theyteachhowbusinessesare________.Theyteachhowproductsare_______and_____.TheyalsoteachabouttheAmerican____________,thesystemof________________________.Andtheyteachstudentshowtheeconomyaffectstheir________andtheir____________.JuniorAchievementhasprogramsformiddleschoolstudentsages____to___.Avolunteer_______________teachesthestudentsonceaweek.Oneprogramiscalled“_________Business”.Itisabout____________________.Studentslearnabout_______and________.Theylearnabout____________.Andtheylearnabout_______________.corporationsdemandsupplyeconomictheories1412munitiesfamiliesmoney,industryandtradeeconomysoldmadeorganizedmainrulesVolunteer11585,0002,700,000185programsclassrooms1974ProjectbusinessexpertworldtradeIn_____,JuniorAchievemeAnotherJuniorAchievementprogramfor____to___-year-oldstudentsiscalled“the___________ofStayinginSchool”.Itisforstudentswhomaybethinkingabout__________before___________highschool.Thesestudentslearntheimportanceof____________theireducation.Firsttheyplaya______.Thegameshowswhatkindsof_____peoplehave.Itshowshowmuch__________isneededforeachjob.Anditshowshowmuch________eachjobpays.Thestudentslearnthatworkerswithmoreeducation_____betterjobsand_____moremoney.Thenthestudentslearnhowmuchmoneythey______tobuythethingsthey_______.Theyrealizethattheyprobablywillnotearnenoughmoneyiftheydonotfinish_____________.highschoolwantmoneyeducationjobsgamecontinuingpletingleavingEconomics1412needearngetHomepageAnotherJuniorAchievementPartVIIWatchandenjoy*inonefellswoop一下子*balancesheet资产负债表*highprofile引人注目的高姿态，高调*surpluscash现金盈余*nailtwobirdswithonestone一箭双雕，一举多得*flyingsolo独挑大梁*unwedge使卡在狭小空间里不易动弹的物品松开*tonoavail无济于事，徒劳PartVIIWatchandenjoy*ino1.（）TraskIndustriesattemptstoacquireamajormarkettelevisionstation.2.（）TraskisfacingahostiletakeoverattemptbyoneoftheirJapanesepetitors.3.（）FCCregulationsforbidsforeignownershipofradiostations.4.（）TessMcGillsuggeststhatTraskindustriesconsideracquiringMetroRadioNetwork.5.（）AJapanesecompetitoralsoattemptstoacquireMetroRadioNetwork.6.（）Finally,ArmbristeragreestosellMr.TrasktheMetroRadioSystemfor$65millionincashandsecurities.*5.*AJapanesepetitorattemptstoacquireTraskIndustries.*6.*Finally,ArmbristeragreestosellMr.TrasktheMetroRadioSystemfor68.5millionincashandsecurities.TTTTFF*收购HomepageAudioscript1.（）TraskIndustriesatte

Businessesarestructuredtomeetdifferentneeds.Onebasicdifferenceinvolveswhoisresponsibleforthebusiness.Anotherinvolveshowlongtheorganizationcanstayinbusiness. Thesimplestformofbusinessiscalledanindividualproprietorship.ThewordproprietoresfromFrenchandLatinwordsforpropertyowner.Theproprietorownsallthepropertyofthebusinessandisresponsibleforit.Thelawrecognizesnodifferencebetweentheownerandthebusiness.MostsmallbusinessesintheUnitedStatesareindividualproprietorships.Anotherkindofbusinessisthepartnership.Twoormorepeoplegointobusinesstogether.Anagreementisusuallyneededtostatehowmuchofthepartnershipeachpersoncontrols.Theycanendthepartnershipatanytime. Butpartnershipsandindividualproprietorshipshavealimitedlife.Theyexistonlyaslongastheownersarealive.Somestatespermitwhatarecalledlimitedliabilitypartnerships.Thesehavefullpartnersandlimitedpartners.Limitedpartnersmaynotshareasmuchintheprofits.Buttheirresponsibilitiestotheorganizationarealsolimited.Businessesarestructured Themostplexisthecorporation.Thiskindofbusinessorganizationisdesignedtohaveanunlimitedlifetime.Investorsinacorporationownstock.Thisisashareoftheownership.Investorscantradetheirsharesorkeepthemaslongasthecompanyisinbusiness.Investorsmaygetpaiddividends,asmallamountofmoneyforeachsharetheyown.Aboardofdirectorscontrolsthecorporatepolicies.Thedirectorsappointtopcompanyofficers.Thedirectorsmightormightnotholdanysharesinthecorporation.Notallcorporationsaretraditionalbusinessesthatsellstock.TheAmericanRedCross,forexample,isorganizedasanon-profitcorporation.Audioscript ThemostplexisthecorporaJeffGreenfield:Thankyou.Oklook,it’snotallthatunusualtodreamupabusinessideawhileyou’reincollege.Youknow,youbookthebandsfortheparties,youdeliverpizzastothedorm.Ok,dreamingupanewmulti-billiondollarindustryfromthegroundup,thisisalittlelessusual.Butitissomethingbothofourguestsacplishedevenifnoteveryonerealizeditatthetime.WhenFredSmithwroteatermpaperoutlininghisideaforanovernightdeliveryservice,histeachergavehimaCminus.HeoffandwentontocreateFederalExpress.We’llbetalkingaboutthatandothermatterswithFredSmith,theChairman,PresidentandCEOofFedExCorporation,alittlelaterintheprogram.ButfirstMichaelDell,whodroppedoutofcollegeafterayeartostartthebusiness,hestillheads.AsChairmanandCEOofDellComputer,MichaelDellhappenstobethelongesttenuredCEOintheentirecomputerindustry.He’salsothemansolelyresponsibleforcreatingthedirect-to-consumermodelthatsparkedthewholebuild-to-orderrevolution.MichaelDell’saimistoeliminatethemiddleman,ahome-grownphilosophythatcarriesoverintohishands-onmanagementstyle.Beforewegetintothespecificconversations,Iwanttoknowsomethingbecausethetwoofyouhavearelationshipthatcustomers-like.CouldyouexistwithoutacompanylikeFredSmith’stosupplyyourstuff?Coulditworkifyoudidn’thaveajust-in-timedeliverysystemtogetyouyourpartsforyourcomputers?MichaelDell:Inourcase,no.Imean,youknow,wecouldn’texistwithoutFedEx,andIdon’tthinkFedExcouldexistwithoutourdistributing.Wearesortofmutuallyco-dependenthere.JeffGreenfield:Thankyou.OkFrederickSmith:That’sabsolutelyright.Michaelunderstandsthathisefficiencywithhiscustomersdependsondeliveringexactlyashe’stoldhiscustomersthathe’sgoingtodeliverplushisproductionisjustintime,soallthosepartsandpiecesfromallovertheworldgottatoetogetheratthesametime.NowhemayhavetoforhisownreasonsusebrandX,butclearlythebestchoiceisFedEx.Greenfield:Nowyougoout,you’remakingabigpushintothegrounddeliverybusinessaswell.Right?Smith:Sure.Greenfield:Michael,whatwouldyouwantfromhimasaCEOandfounderofDell,tomakeitmoretemptingforyou?Dell:Well,it’sprettystraightforward.Imean,youknow,yougottabecompetitive,you’vegottodeliveronthethingsthatareimportanttous.whichmeansthequalityofservice,thebreadthofthenetwork,the...youknow,uniqueservicesthatweneed.Forexample,wehavealotofthingsgoingonwithairliftoutofAsia,comingintheUS,andtheirnetworkisparticularlywellsuitedforthis.Andofcourse,theygottabecost-competitive.Youputallthattogetherandthat’sthesortofdiscussionwehave,there’snotalotofrealsciencetoit,Imean.it’sprettybasicnutsandbolts.Here’swhatweneed,youknow,andhereweneedtostaycompetitive.Greenfield:Doyouhaveashot?Smith:No,I’lltellyouI’vebeenlisteningtothewholelotofit,andusuallyI’mdoingeverythinghewantsustodo.Icantellyouthatmuch.AudioscriptFrederickSmith:That’sabsolGreenfield:Letmeturnnowtothefirstthemewewanttotalkabout,andthatisthisbuild-to-orderrevolution.Doesitchangeeverything?Dell:Youknow,Ithinkfirstofall,yougottalookatthesupplychain.Basically,whatefficientinformationflowsdoisthey,youknow,theysortoftakeoutallthesecostsoftransactionandprocessingthatsortof,youknow,addtotheultimatecostofbuyingsomething.Andifyouviewinformationasthiskindoflikevacuumthatsucksoutthatunnecessarycost,therearecertainproductsorserviceswherethisisfarmoreapplicable.Youknowthingsthathaveveryhighmarkups,thingsthatdepreciateinvalueatanincrediblerate.Greenfield:What’sanexample?Dell:Takethecarindustryforexample,Ok?Notnecessarilyfitinsmallpackagesyet,butyouknowwhenyougotobuyacar,youtypicallygotoaplacewherethere’slotsofcarsandsomebodyguessedwhatkindofcar,youknow,youweregoingtobuy.And,youknowthat,there’stensofbillionsofdollarsinassetstiedupinthoseguessesandwhatusuallyhappensisyouendupbuying,notthecarexactlythatyouwantedbutthecartheyhappenedtohave.Andthenthesignalgoesbacktothefactorythatthatcarthatyoujustbought,youknow,issellingreallywell,solet’sbuildsomemore.Andthepersonwhosoldittoyougetsamissionforsellingyousomethingthatyoudidn’tquiteexactlywanttobuy.Andsoyougotcapitaltiedup,yougotcoststiedup,andwhatinformationsystemscandoisessentiallyshrinkthedistancebetweenthesourceofdemandandthesourceofsupply.Greenfield:LetmeturnnowtoSmith:There’salotofworkthat’sbeendoneintheacademicrealmaboutthisissuesupplychainthatyou’rejusttalkingabout.ThelatestfigurethatI’veseenwhichwasdonebyoneoftheschoolsintheMidwestthathasagoodtransportationandlogisticspractices.Andabout40%ofbusinessestodayareoperatedonafastcyclebasisthatMichaelandWal-Martandsoforthpioneered.Nowthere’scertaintypesofitemsthatareverylowintermsofunitcostslikegroceriesorgasolineyouputinyourcar,ormoditiesofonesortoranotherorwhereformandfitmaymeetmakethecustomerswannagolookatitpersonallylikeputtingonacoatorsomething.ButIthinkotherthanthat,almosteverythingwillbepresentedtoyouonacomputerandyou’llhaveaworldofchoiceandyoucancustomizeitandhaveitthereveryrapidly.Foracar,itmightbefourdays;foraDellcomputer,itmightbeovernight,orifyouwanttoshortenthedelivery,threedaysorwhatever.ButIthinkagreatpartoftheeconomywillworkthatway.Greenfield:It’snowtimeforthenextgenerationofbusinessleaders,wehope,toasktheirquestionsofourguests.Pleasebesuretotellusyournameandthenyourquestions.Sir.Munan:Ok,goodafternoon.MynameisMunan.I’mjustcuriouswhatkeepsyouguysgoingandpersonallywhatyouguyshavelefttoaccomplish?Smith:There’salotofworktDell:Youknow,whatkeepsmegoingagainistheopportunitythatIseeinourindustryinourbusiness.Youknow,thisisabusinessthatcontinuestogrow,theITindustryisrightatthefulcrumoftheeconomy.Theindustryisexpandingaroundtheworld.Wewanttobealeadernotonlyinclientputing,butalsointheenterpriseandserversandstorage,AndwewanttodoitnotjustintheUnitedStates,butallovertheworld.Andwewanttoaddalotoftheservicesthatgoalongwiththoseproducts,sowehave,wethinkagreatstart,butwethinktherearetremendousopportunitiesgoingforward.Smith:Well,I’mtrulyexcitedaboutmycompany’sfuture.Ilovegoingtoworkeveryday,it’sgreatfun,Ilovetocompete,Ilovetotrytoinnovate,comeupwithanewidea,workwithalotofwonderfulpeopleandsitrightinthemiddleofalotofvery,veryexcitingbusinesstrends,andIcan’tthinkofanythingI’dratherbedoing.AudioscriptDell:Youknow,whatkeepsmeAwomanhasagreatideaforabusiness.She’sjoinedawomen’sbusinessassociationandtalkedwithseveralentrepreneurs.Shewantstogetstarted.What’sthenextstep?Intoday’s“WomeninBusiness”report,SarahLongtellsusthatoneofthemostfundamentalstepstowardasuccessfulbusinessisthebusinessplan. Theideaforabusinessmaybelargeorsmall.Amanufacturingplantwithlotsofemployeesoraone-employeepanybasedinthehome.It’snotthesizeofthebusinessthatmatters.Whatdoesmatteraccordingtoexpertsishavingabusinessplantomaketheideaareality. “Ionlyhavemyselfandmyfull-timeofficemanagerandI’mhiringathirdperson.Idoabusinessplaneveryyear.’’ BettyStehmanhasherownaccountingfirm.Alongwithafullrangeofaccountingandtaxservices,hercompanyhelpsentrepreneursdevelopbusinessplans.Shebelievesaplanisessentialforanybusinessincluding,ofcourse,herown. “Ireviewwheremyplanwaslastyear,howImeasuremyselfagainstitandthenIlookatwhereIwanttogo.Thatgivesmedirectionforthefullyear.IfIdon’thavethatdirection,it’slikegoingonatripwithoutamapandyou’renotsurewhereyou’regoing.Sothebusinessplantomeisessentiallyamapforyourbusinessastowhereyou’regoingtogo.’’

AwomanhasagreatideafEntrepreneurT.W.Fitzgeraldagreesthatabusinessplanistheverybestwaytogetstarted. “Whenyoudoabusinessplanit’salmostyourguaranteethatyourbusinesswillsucceedbecauseyougofrom‘‘A’’to“Z”infiguringouteveryaspect:howmuchmoneyyouneed;howmanypeopleyou’llneed;whetheryou’llneedpeople.Itgivesyouawayofpredictingwherethebusinessmaygosothatyoucanpositionyourselftorespondintelligentlyandusetheleastamountofmoney.’’Ms.Fitzgeraldsaysthatifabuddingentrepreneurdoesn’thavemuchmoney,abusinessplanbeesevenmorecriticalbyhelpingtousethelimitedresourcesintheverybestway.Shepointsoutthatabout46%ofbusinessesintheUnitedStatesoperatewithoutabusinessplan.These,shesays,arethecompaniesatgreatestriskoffailing.Andinanincreasinglyglobalmarketplace,shesaysoneperson’sgreatideatodaymaybetenotherpeople’sgreatideatomorrow.Thoseusingbusinessplansaremostlikelytobeatouttheircompetitors.AudioscriptEntrepreneurT.W.FitzgerTess: Hi.TessMcGilltoseeJackTrainer.Receptionist:MayItakeyourcoat?Tess: Yes,please.Receptionist:Gentlemen,TessMcGill.Jack:MissMcGill,I’mJackTrainer.Howareyou?ThisisJohnRomanoandBernieKotar.Sitdown,please.Coffee?Tess: Sure.Receptionist:MilkorSugar?Tess: Yes,both.Thankyou.Isupposeweshouldjustgetrightdowntoit.IsthatOK?Jack: Sure.Tess: I’velostmybriefcase.Ineachofthelastthreequarters,TraskIndustrieshasannouncedplanstoacquireamajormarkettelevisionstation,eachtimeunsuccessfully.Atthesametime,they’veexpendedtimeandmoneyfightingoffahostiletakeoverattemptbyoneoftheirJapanesepetitors.Buyingintoradiowould,inonefellswoopaccomplishtwoimportanttasks.ItwouldgiveTraskasolidbaseinbroadcasting,and,becauseofFCCregulationsforbiddingforeignownershipofradiostations,itwouldwipeoutthethreatofaJapanesetakeover.John: Interestingidea.ButIdon’tlikeit.Traskhasgotalotofcashontheirbalancesheet.That’soneofbigreasonswhythey’reatakeovertarget.Andradiostationsaresmallpotatoes.Ican’tseehimbiting.Tess: I’vealreadythoughtofthat.Ifigurethatwelookforaradionetwork—onewitharealhighprofile.Andwiththesurpluscash,weimplementamajorstockrepurchase.SoTraskisprotectedandtheirstockgoesup,andeverybody’shappy.Tess: Hi.TessMcGilltoseeJJack: TrainerandMcGill.Receptionist:Yes.Topofthestairs.Tess: ArewewaitingforMr.Trask?Traskclerk:Mr.Traskdoesn’tsitinatthislevel.Tess: Ofcourse,hedoesn’t.Here’sthewayweseeit.Traskindustrieshastwoimportantneedstomeetatthispointoftime.Jack: ByacquiringMetroRadioNetwork,younailtwobirdswithonestone...Traskclerk:Excuseme.DoyouhaveanyotherproposalsbesidesMetro?Tess: No.Why?Jack: Metro’saterrificopportunity.Traskclerk:Well,I’msureitis,butaChicagogroupjustputabearhugonMetrothismorningandthepany’sinplay.Tess: Justthismorning?Jack: Who?Traskclerk:TheSladebrothers.Traskisn’taimingatradioanyway.Wecertainlydon’twanttogetintoabiddingwar.Tess: Amoment,please.ArmbristerlooksatMetroasifitwerepartofhisfamily.Hecareswhohe’ssellingto.Jack: Yes.Andheholdsthemajorityofthestock.Look.IftheSladesareuninvited,andI’msuretheyare,andArmbristerandTraskcanagreeonadeal,thenwewon’thaveawar.IfIgetArmbristeruphere,willTrasktakethemeeting?Jack: TrainerandMcGi