VI. Further Listening and Speaking
Task1: How was the problem resolved ?
Script
The management of Mecon Insurance Corporation explained to angry emplyees that their opposition to a management buyout, or MBO, arose from a misunderstanding. The employees believed that with an MBO, the management intended to acquire controlling shares in the insurance firm, which was owned by the government and was undergoing privatization, supported by the Bureau of Public Enterprise.
The Managing Director of Mecon, Ms. Presley Bates, gave this explanation: According to the proposed MBO, the staff and management of the firm would jointly acquire controlling shares in the firm—a process that took place with Guangdong Insurance Corporation not long ago.
When the MBO was first proposed, workers in the company fought against it, saying that they hoped to join the management in buying the insurance firm. They accused the Bates-led management of trying to bypass employees. But the workers have since come to understand the nature of the acquisition and have given their full support to the MBO proposal.
Answering questions from reporters, Bates said that the workers’opposition was “a matter of their misunderstanding of the acquisition process, thinking the management left out employees in the MBO”.
Giving detail of how the problem was finally resolved, Bates disclosed that the firm organized a seminar to inform the workers that,”Everybody would be involved, not just the management.” She also recalled that it was made clear to the workers at the seminar that job losses were inevitable, no matter what happened. She said, “There would be job losses, and they would be from top to bottom. If the MBO fails, and another investor takes over, the management would probably be the first casualty, depending on the decision of the investor.”
1. What did the employees first fear would happen to their insurance corporation?
2. What did the Managing Director clarify?
3. From what source did the employees learn the truth about the fate of their company?
4. According to the passage, if an outside investor took over the company, what would happen?
5. Which of the following is the best title for the passage?
Keys: 1.C 2.D 3.D 4.A 5.B |