I know a number of people in this room probably have the similar company in mind, which is Apple.
我知道这个房间里的很多人可能都从,这家公司汲取灵感,它就是苹果。
It can be honed but those are some of the skills for a consumer internet company and one that is growing this quickly that is just essential.
是可以通过磨练而得的,但是对于增长如此迅速的,客户导向型互联网公司来说,有一些技能是不可习得的。
And then the American government said, "No, here is a company that invested research and created this drug.
然后美国政府又说了,不行,这些都是美国公司花巨资研制出的药品。
But, in the purest form-- and this is the form that we have in the United States-- the company exists for the shareholders.
但在最纯粹的体系中,即美国现行体系,公司是为股东而存在的
And then you probably saw, when you were in our factory, we have this business process improvement, which is where anyone inside the company can get involved in improving something that they see that could be done better.
你可能已经看见了,在我们的工厂,我不断完善业务流程,所有公司员工,都参与其中,改进他们认为,能变得更好的方面。
The classic example of a company that did this -it's a classic now--is Enron Corporation.
在此方面,敢冒大不韪的一个经典例子,非常经典,是安然公司
Of course it's lowering your share of the company, but offsetting this is that the company is taking in money from the person who bought the shares and so it doesn't dilute you.
当然这会降低你对公司的控股,但补偿是公司增大了股本,因为人们购买股份,不会摊薄你的那份
Again, that is a problem that lenders have that the company that's borrowing the money has this unfortunate incentive, at least at certain times, to take excessive risks because the debtors will end up bearing the losses.
这便是贷方遇到的又一问题,即借款公司可能会,抱有此种不良动机,至少在特定情况下会过分地追求风险,这样最终蒙受损失的将是债务人
Suppose that in a given year--and say this is minus five and this is plus five, this is minus five and this is plus five-- suppose that in the first year in our sample, the company Shiller, Inc. and the market both did 5%.
假设某一年...这里设为-5,这里+5,这是-5,这是+5,我们假设第一年中,希勒公司.和市场都获利5%
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