Business Channel 2006-11-11&13

Dow Industrials posted a triple-digit gain today, snapping a 6-session losing streak¹. Ironically, they both got a lift from a deal for a chain of steakhouses. There were also big mergers² in the pharmaceutical³ and hotel sectors⁴. Let's look at those numbers: The Dow finished up about 119 points or 1 percent, NASDAQ Composite up about 1.51 percent or 35 points, the S&P 500 up over a percent as well. So some good news there.

Also, shares of Kos Pharmaceuticals⁵ gained an explosive 53 percent after agreeing to be acquired by Abbott Labs. Also helping⁶ the charge were shares of OSI Restaurant Partners, which jumped more than 22 percent.

OSI, the parent of Outback Steakhouses, agreed to a $3.2 billion buyout by a private equity⁷ group. But online retailer⁸ Overstock.com did not join the party. Its shares plunged⁹ nearly 18 percent after the company reported a bigger loss in the third quarter.

And in another news, for workers, a government pension was traditionally money in their bank, but those retirement¹⁰ plans are breaking the back now for many states and municipalities. So, more of those governments are reportedly looking for ways to reduce pension payouts. According to the New York Times, officials are pursuing loopholes, so they can reduce the retirement benefits that are often written into union contracts. For example, in Texas, the state's constitution allows cities and towns to hold referendums on cutting pensions for government retirees, and Houston did just that. Earlier this year, San Diego cut pensions for some disabled retirees by 10 percent. And other cities and states are looking to do the same. Richard?

En, big news there, Gerri. My...both my parents are public employees, we are public employees. How many people is this going to affect?

Well, your mom and dad are part of a group of 15 million people nationally believed to qualify for state and local government pensions. The government is trying hard to scale back the payouts, because they simply become too expensive.

And finally if you are traveling around Christmas, try to hitch¹¹ a ride on Santa's sled, otherwise you may spend a pretty penny on airfare. Travel experts predict holiday plane tickets would be 15 percent higher than a year ago. Fares have been on the rise all year as airlines try to offset¹² rising fuel prices. Analysts¹³ also cite growing consumer demand at a time when fewer flights are taking off. Almost all carriers have to look to trim their schedules and save on fuel and labor¹⁴ costs. But the most aggressive flight reductions have come from airlines that are in bankruptcy¹⁵, or emerging from it, and as you know, Richard, there are plenty of those.

Yeah, those are a dime¹⁶ a dozen unfortunately. All right, thanks Gerri, (You are welcome) have a good one.


hitch a ride: Solicit¹⁷ a free ride, especially by hitchhiking.

I've no car; can I hitch a ride home with you?

a dime a dozen: very common and not valuable

Sam told her not to worry, jobs like that were a dime a dozen

1 streak   

n.条理，斑纹，倾向，少许，痕迹；v.加条纹，变成条纹，奔驰，快速移动

参考例句：

• The Indians used to streak their faces with paint.印第安人过去常用颜料在脸上涂条纹。
• Why did you streak the tree?你为什么在树上刻条纹？

2 mergers   

n.（两个公司的）合并( merger的名词复数 )

参考例句：

• Mergers fall into three categories: horizontal, vertical, and conglomerate. 合并分为以下三种：横向合并，纵向合并和混合合并。 来自辞典例句
• Many recent mergers are concentrated within specific industries, particularly in retailing, airlines and communications. 现代许多合并企业集中进行某些特定业务，在零售业、民航和通讯业中更是如此。 来自英汉非文学 - 政府文件

3 pharmaceutical   

adj.药学的，药物的；药用的，药剂师的

参考例句：

• She has donated money to establish a pharmaceutical laboratory.她捐款成立了一个药剂实验室。
• We are engaged in a legal tussle with a large pharmaceutical company.我们正同一家大制药公司闹法律纠纷。

4 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

5 pharmaceuticals   

n.医药品；药物( pharmaceutical的名词复数 )

参考例句：

• the development of new pharmaceuticals 新药的开发
• The companies are pouring trillions of yen into biotechnology research,especially for pharmaceuticals and new seeds. 这些公司将大量资金投入生物工艺学研究，尤其是药品和新种子方面。 来自《简明英汉词典》

6 helping   

n.食物的一份&adj.帮助人的，辅助的

参考例句：

• The poor children regularly pony up for a second helping of my hamburger. 那些可怜的孩子们总是要求我把我的汉堡包再给他们一份。
• By doing this, they may at times be helping to restore competition. 这样一来, 他在某些时候,有助于竞争的加强。

7 equity   

n.公正，公平，（无固定利息的）股票

参考例句：

• They shared the work of the house with equity.他们公平地分担家务。
• To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

8 retailer   

n.零售商(人)

参考例句：

• What are the retailer requirements?零售商会有哪些要求呢？
• The retailer has assembled a team in Shanghai to examine the question.这家零售商在上海组建了一支团队研究这个问题。

9 plunged   

v.颠簸( plunge的过去式和过去分词 )；暴跌；骤降；突降

参考例句：

• The train derailed and plunged into the river. 火车脱轨栽进了河里。
• She lost her balance and plunged 100 feet to her death. 她没有站稳，从100英尺的高处跌下摔死了。

10 retirement   

n.退休，退职

参考例句：

• She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
• I have to put everything away for my retirement.我必须把一切都积蓄起来以便退休后用。

11 hitch   

v.免费搭(车旅行)；系住；急提；n.故障；急拉

参考例句：

• They had an eighty-mile journey and decided to hitch hike.他们要走80英里的路程，最后决定搭便车。
• All the candidates are able to answer the questions without any hitch.所有报考者都能对答如流。

12 offset   

n.分支，补偿；v.抵消，补偿

参考例句：

• Their wage increases would be offset by higher prices.他们增加的工资会被物价上涨所抵消。
• He put up his prices to offset the increased cost of materials.他提高了售价以补偿材料成本的增加。

13 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

14 labor   

n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦

参考例句：

• We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
• He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。

15 bankruptcy   

n.破产；无偿付能力

参考例句：

• You will have to pull in if you want to escape bankruptcy.如果你想避免破产，就必须节省开支。
• His firm is just on thin ice of bankruptcy.他的商号正面临破产的危险。

16 dime   

n.（指美国、加拿大的钱币）一角

参考例句：

• A dime is a tenth of a dollar.一角银币是十分之一美元。
• The liberty torch is on the back of the dime.自由火炬在一角硬币的反面。

17 solicit   

vi.勾引；乞求；vt.请求，乞求；招揽(生意)

参考例句：

• Beggars are not allowed to solicit in public places.乞丐不得在公共场所乞讨。
• We should often solicit opinions from the masses.我们应该经常征求群众意见。