Ex.1. Discuss the expressions below.

Unit 3.

What are the advantages and disadvantages for a private individual of borrowing money from the following

Ex. 4. Discuss the following question.

a) a bank?

b) a friend or colleague?

c) a member of your family?

d) a loan shark?

e) a credit card company?

f) another source?

Text. Translate, fill in the gaps.

buy grow increase launch persuade sell

The takeover process is often described in terms of one animal hunting another: a company or individual seeking to take over another company may be referred to as a predator, and the target company as a prey. Predators are also referred to as raiders or corporate raiders. A company that wants to (7)…………. or diversify can (8)………… a raid – in other words, simply (9)……….. a large quantity of another company’s shares on the stock exchange. A “dawn raid” consists of buying shares through several brokers early in the morning, before the market has time to notice the rising price, and before speculators join in. This will immediately (10)………… the share price, and may (11) …………. a significant number of other shareholders to (12)………… for the raider to take control of the company.

board friendly hostile poison pill white knight

A company wishing to resist, ward off or fend off being taken over has a number of options. It may devise plans that give existing shareholders special rights, or it may make itself less attractive to bidders by selling off a valuable part of the company. Actions like these are poison pills. Or it may persuade a friendly partner, a white knight, to take a stake in the company, thus preventing a complete takeover by a hostile bidder. Bidders may agree to withdraw their bid if paid enough money for the shares they hold in the target company. This is greenmail. If a raid is not, or would not be, successful, a predator can make a takeover bid. A (13)……….. takeover has the consent of the directors of the company whose shares are being acquired; a (14)………. takeover bid is one undertaken against the wishes of the (15)………… of directors who think that the bidder is undervaluing the shares. Defenses against a hostile takeover include the (16)………… a defensive action taken to repel a raider, such as changing the share voting structure or the board of directors, or spending all the company’s cash reserves. If measures such as these do not work, a company can at least attempt to find a (17)………… - another buyer whom they prefer.

Hit the ground. If someone hits the ground (running), they are ready to start work immediately on a new activity.

He intends to hit the ground (running) when he starts his new job."

Keep your nose to the grindstone. A person who keeps their nose to the grindstone is someone who concentrates on working hard at his job. I'm sure that if you just keep your nose to the grindstone, you'll get the results you want.

An eager beaver. The term eager beaver refers to a person who is hardworking and enthusiastic, sometimes considered overzealous.

The new accountant works all the time - first to arrive and last to leave -a real eager beaver!

Have all your eggs in one basket. If you have all your eggs in one basket, you depend on one plan or one source of income.

If you invest your savings in one bank, you'll have all your eggs in one basket.

Use elbow grease. If you use elbow grease, you need energy and strength to do physical work such as cleaning or polishing.

It took a considerable amount of elbow grease to renovate the old house.

In the doldrums. To say that a person, a business or the economy in general is in the doldrums means that the situation is gloomy and that nothing new is happening.

Despite the recent measures, the economy remains in the doldrums.

Have an ace up your sleeve. If you have an ace up your sleeve, it means that you have something in reserve with which you can gain an advantage.

Hold all the aces. A person who holds all the aces is in a very strong position because they have more advantages than anyone else.

Given the high unemployment figures in some countries, employers hold all the aces.

Back to the salt mines Saying that you have to go back to the salt mines is a humorous way of talking about returning to work, usually with some reluctance.

We get two days off at Christmas and then it's back to the salt mines!

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