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Text107.8
InBirmingham,Alabama,onFriday,afederaljudgeorderedadeadlockedjurytocontinueweighingevidenceagainstRichardScrushy,theformerchiefexecutiveofHealthSouth,accusedoforchestratinga$2.7billionaccountingfraud.Butthatcourtroomdecision,regardlessoftheoutcome,willhavescanteffectonacompanythathasavoidedthedownwardspiralthatengulfedAndersenandEnron.Inthecorporatescandalsofthepastfouryears,thestrikingfactisthattheclosingchaptersmoreoftenhavefollowedthescriptatHealthSouthandnotatAndersen.
Thespectrumofbusinessmisconducthasincludedseeminglyeveryflavoroffraud,self-dealing,improperaccountingandconflictofinterest.ThepunishmentshaverangedfromtherecentconvictionofBernardEbbers,theformerchiefofWorldCom,forguidingan$11billionfraud,tothefinespaidin2002byagroupofWallStreetfirmstosettlechargesthatstockanalystswroterosyreportsoncompaniestohelpbringininvestmentbankingbusiness.
Yetthegoalofgovernmentpolicy,prosecutionstrategyandbusinesspracticehasnearlyalwaysbeentorehabilitatethedisobedientcompaniesratherthanliquidatethem.Thereareexceptions.Enronprovedtobeafinancialhouseofcards,asnoonewaswillingtotradewithatraderthatwasbankrupt.Enron’sphysicalassets,likeitsnationalgaspipelines,wereauctioned.Andersenwasgivenadeathsentence—justifiedornot—whenitwasindicted,anditscorporateauditingclientsfledwithinweeks.
TheJusticeDepartment’scorporateindictmentofAndersenwascontroversialandunlikelytobereplicatedinothercases.SinceAndersen,federalandstateprosecutorshaveadoptedthelessdrasticapproachoftargetingtheresponsibleexecutivesandreachingsettlementswiththecompaniesthatincludefinesandchangesincorporatebehavior.“Youdon’twanttobeswingingameataxwhenascalpelisappropriate,”saidEliotSpitzer,theNewYorkStateattorneygeneral.“Youwanttogetridoftheindividualswhodidthewrongdoingandgetthecompanybackonanevenkeel.”Thathasbeenthepatternfollowedinpursuingmisconductatothermajorcompanies,includingTyco,WorldCom,Adelphia,Marsh&
McLennanandAmericanInternationalGroup.
Therehavebeenspectacularfinancialfailures,likethebankruptciesofWorldComandAdelphia.ButtheAmericansystemofbankruptcyallowscompaniestoseektemporaryshelterfromcreditorsandtimetorecastthemselvesforcorporatesurvivalorlatersaleonbetterterms.InApril,TimeWarnerandComcastpurchasedAdelphiafor$17.6billionandwillsplitupitscabletelevisionoperations.AndWorldCom,renamedMCIsinceemergingfrombankruptcy,agreedlastmonthtobesoldtoVerizonCommunicationsfor$8.5billion.[442words]
1.Thelastsentenceofthefirstparagraphmeansthat.
[A]morecoverageisgiventoHealthSouthratherthanAndersonandEnron
[B]HealthSouthhaswonalegalvictorybutAndersonandEnronhaven’t
[C]alightpunishmentisgiventomostcompaniesinvolvedinthescandals
[D]moreandmorecompaniesarepunishedforaccountingfraud
2.Whichofthefollowingbestdefinestheword“liquidate”(line2,paragraph3)?
[A]Toputanendto.[B]Tosettletheaffairsof.
[C]Topayoffthedebtsof.[D]Torestoretogoodcondition.
3.Accordingtothefourthparagraph,“ameatax”isto“ascalpel”as.
[A]“extravagant”isto“restrained”[B]“radical”isto“conservative”
[C]“powerful”isto“delicate”[D]“ambiguous”isto“straightforward”
4.WorldComandAdelphiaserveasgoodexamplesof.
[A]thesituationofascandal-taintedcompany[B]thewaytosurviveacorporatescandal
[C]therecipeforrestoringacompany’sfame[D]theefficiencyofbankruptcy-lawprotection
5.Whichofthefollowingistrueaccordingtothetext?
[A]SeveralWallStreetfirmsusedimproperaccountingin2002.
[B]Enronisacompanythatissuesitsowncreditcards.
[C]Adelphia’sresponsibleexecutivesareontrialforfraud.
[D]WorldComhasrestartedbuildingitsownbusiness.
Text207.8
Ourfranticattemptstoavoidboredomupholdalucrativecorneroftheentertainmentindustry,whilethevarietyofbooks,websites,TVprogramsandvideosaimedatchildrenandcalled“BoredomBusters”suggeststhatennuihasnoagerestriction.Thisisnonewdevelopment—obsessivetextingishardlyonalevelwithwatchinglionsripgladiatorstoshredsforentertainment,and,astheBritishpublicseemtobemovingontoastagewherefox-huntingisnolongerseenasajustifiable,fundiversion,wemustbedoingsomethingright.However,somepunditshaverecentlypointedoutthatobsessiveavoidanceofboredom(apartfrombeingquitedullinitself—haveyouevertriedtohaveadecentconversationwithanextremesportsenthusiast?
)deniesaccesstothecertainkindofmentalspacewhichboredombringsandindoingsoleavesuscreativelyandspirituallymalnourished.Inotherwords,boredomisbecoming“alostartform”.
StevenWinnoftheSanFranciscoChronicleputsitinarecentarticle:
“Asmoreandmorepeopleseemtorecognize,theuniversalexperienceofbeingbored—unengaged,detached,afloatinsomeprivatetorpor—maybefarmoreprecious,fruitfulandevenprofoundthanasurfaceapprehensionmightsuggest.Asordinaryasgreyskiesandequallypervasive,boredomdeservesitsownsun-splashedattentionandcelebration.”
Thisisaveryparticularunderstandingofwhatboredomis,andperhapsthisveryproblemofdefinitioniswhatliesattherootofthesupposeddebate.Ontheonehand,boredomcanbedefinedasastateoflistlessness,alackofinterestinthatwhichsurroundsusandageneralsenseofennui.Ofthisparticulardefinition,SaulSteinbergwrote,“Thelifeofthecreativemanisled,directedandcontrolledbyboredom.Avoidingboredomisoneofourmostimportantpurposes.”Sointhiscase,boredomissomethingwefleefrominhorror.
Anotherconceptionofboredomisofablank,privatementalspace,invaluableforrelaxingandforthefermentationofcreativejuices.Itisthistypeofboredomwhichisconsideredbysometobealostartform.Informationaloverloadfromallquartersmeansthattherecanoftenbeverylittletimeforpersonalthought,reflection,orevenjust“zoningout”.Withamobilethatisconstantlyswitchedonandaplethoraofentertainmentsavailabletodistractthenakedeye,itisunderstandablethatsomepeoplefinditdifficulttoactuallygetboredinthatparticularfidgety,introspectivekindofway.[427words]
6.Theword“ennui”(Line3,Para.1)mostprobablymeans.
\[A\]theeffortsatavoidingboredom\[B\]alackofcreativity
\[C\]theabsenceofprivacy\[D\]thefeelingofhavingnothingtodo
7.Boredomisbecoming“alostartform”becausepeople.
\[A\]aredeprivedofdeepthought\[B\]lostinterestinold-fashionedamusement
\[C\]indulgeinentertainment\[D\]havenoprivatespace
8.AccordingtoStevenWinn,whichofthefollowingistrueaboutboredom?
\[A\]Itisauniversalprobleminhumanbeings.\[B\]Itisalwaysfearedbycreativemen.
\[C\]Itisimportanttorecognizeitssignificance.\[D\]Itismorevaluablethanentertainment.
9.Fromthepassage,wecaninferthatboredom.
\[A\]isonlylimitedtochildren\[B\]wasalsoavoidedbyancientpeople
\[C\]canleadtoartcreation\[D\]hasbothstrongandweakpoints
10.Asuitabletitleforthepassagemightbe.
\[A\]LifewithoutBoredom\[B\]TheInfluenceofModernEntertainment
\[C\]TwoTypesofBoredom\[D\]TheSignificanceofBoredom
Text307.8
Anothersummerofrecord-breakingtemperaturesbroughtpowerfailures,heatwaves,droughtsandtropicalstormsthroughouttheU.S.,EuropeandAsia.Onlyoneplaceseemedtoremaincool:
theair-conditionedofficesoftheeditorialboardoftheWallStreetJournal.Theysatcomfortable,hurlingeditorialsofstunningmisdirectionattheirreaders,continuingtheirirresponsibledrumbeatthatglobalwarmingisjunkscience.
NowIhavenothingagainsttheWallStreetJournal.Itisanexcellentpaper,whosesciencecolumnandnewsreportinghaveaccuratelyandcarefullycarriedthestoryofglobalclimatechange.EventhecorporateadvertisementsthatsurroundtheeditorialpagetellofBP’scommitmentstorenewableenergyandGeneralElectric’scommitmentstoenvironmentallysoundtechnologies.Theeditorialpagesitsinitsowndefensiveposition,separatedfromthereportersandfromthetruth.
Onerecenteditorial,“HockeyStickHokum”(publishedJuly14,2006),epitomizestheeditorialapproachofrecentyears.Theclimatechange“hockeystick”isagraphfirstpublishedin1998byMichaelMannetal.thatattemptedtoreconstructthemeansurfacetemperatureontheplanetduringtheperiodA.D.900tothepresent,usingmultipleproxies,suchastreerings,tomeasuretemperaturesbeforeformalinstrumentationwasinuse.Theconclusionofthatstudywasthatwearenowinthatinterval’swarmestrangeoftemperatures,thereforeaddingsupporttotheoverwhelmingevidencefromothersourcesandmodelsthatman-madeclimatechangeisalreadywellunderway.
TheWallStreetJournaleditorialpagehasforyearsrailedagainstthesescientificfindingsonclimatechange,evenastheglobalconsensushasreachednearly100percentofthescientificcommunity,includingthereportscommissionedbytheskepticalBushWhiteHouse.Thus,thehockeystickbecamethebê
tenoireoftheeditorialpageaswellasofthedwindling“climateskeptic”community,andright-wingCongressionalofficialssuchasRepresentativeJoeBartonofTexas,chairmanoftheHouse