TEXTS FOR INDIVIDUAL WORK ADIDAS AGREES TO BUY RIVAL REEBOK

TEXTS FOR INDIVIDUAL WORK

ADIDAS AGREES TO BUY RIVAL REEBOK

German sports goods firm Adidas has bought US rival Reebok in a friendly takeover for $3.8 billion. The merger is seen as a serious challenge to Nike’s dominance in the sportswear world. Adidas hopes to make inroads into the highly lucrative US market, which constitutes half of global sporting goods sales. Adidas also expects Reebok will penetrate deeper into the European market. Adidas boss Herman Hainer said: “This is a once-in-a-lifetime opportunity to combine two of the most respected and well known companies in the worldwide sporting goods industry.” He also said the deal represented “a major milestone” for Adidas.

Reebok CEO Paul Fireman considered Adidas as a perfect partner. He said: “With Adidas, we are able to offer an enhanced portfolio of global brands that truly addresses the needs of today’s and tomorrow’s consumers.…Reebok’s mission is to enrol global youth through sports, music and technology. This complements Adidas’s mission to be the leading sports brand in the world with a focus on performance and international presence.” The two companies are expected to sign up famous international stars to elevate their products. Adidas’s tie-up with David Beckham has greatly enhanced the company’s worldwide profile.
COMPREHENSION CHECK
1. Are these sentences true (T) or false (F)?

1.	Two global sportswear giants are involved in a takeover.	T / F
2.	Around fifty per cent of global sportswear sales are made in the U.S.	T / F
3.	The Adidas CEO said such takeovers happened every year or so.	T / F
4.	The CEO said the deal was a routine acquisition for Adidas.	T / F
5.	Reebok’s CEO was very unhappy with the takeover.	T / F
6.	Reebok wants to attract kids through sports, music and technology.	T / F
7.	Adidas’s mission is to be the world’s number two sports brand.	T / F
8.	Adidas’s commercial tie-up with David Beckham has been a disaster.	T / F

2. Match the following synonyms from the article:

3. Match the elements of the phrases from the article:

A loan is money that you borrow and agree to pay back over a set period of time with interest. The amount of money you borrow is called principal, and interest is the cost for borrowing the money. The length of time set to pay back the loan is known as the term.

It is best to get a loan only for very large purchases or in an emergency. Getting a large loan or getting many loans that you can't pay back can cause huge financial problems, because it can get very difficult to pay them back each month.

What are the benefits of getting a loan?

A loan gives you the money you need to pay for something big like a house, a car, college tuition, or major home repairs when you don't have the cash to cover the purchase. Most people could not afford to do these things without loans.

The cost of a loan is determined by the interest rate the lender offers and the length of time you take to repay. In addition to interest, a lender may charge other fees for the loan application or to check your credit. These fees are often called points.

Look for a bank or credit union that offers loans with low interest rates and fees. Remember to look for a loan with the lowest annual percentage rate. The APR can be higher than the interest rate because it includes yearly interest plus other financing fees. The APR is the best way to compare the costs of different loan programs.

Banks and Community Development Credit Unions are the safest and most affordable places to get loans.

Types of loans

Installment Loan

When you get an installment loan, you borrow all of the money at once and repay it in set amounts, or installments, on a regular schedule over a period of time.

A personal line of credit is a type of revolving credit that lets you write checks for the amount you want to borrow, up to a limit set by the lender. The credit doesn't cost anything until you write a check. Then you begin to pay interest on the amount you borrowed. Whatever you repay becomes available for you to borrow again.

Above all, make sure you really need a loan. Paying back money over time means that you pay back more than you originally borrowed, so be sure you really need the money.

Banks want to get their money back on time with interest. So banks are careful. They are most to loan money to people who have steady incomes, have shown they can manage credit in the past, and have a good reason for wanting to borrow the money. The Loan Readiness Checklist can help you decide if you're ready to get a loan.
Loan Readiness Checklist

• 
  Do you have a good reason for borrowing money?
  
• 
  Do you have a steady income and stable employment for at least two years?
  
• 
  Do you pay your bills on time or before the due date?
  
• 
  Do you have low debts?
  
• 
  If you had a bankruptcy, did it happen more than three years ago?
  
• 
  Do you have a budget that lets you know how much you can afford to pay for a loan?
  
• 
  Do you have a savings account or personal property that can be used as collateral?
  

You don’t have to satisfy all of the items on the list, but the more you have, the better your chance of getting a loan.

The latest strategy sees Coke revisiting its roots with a strong focus on the iconic shape of the old-fashioned Coke bottle, which was apparently modeled on a woman’s curves. There will be different takes on the slogan, including, “Dream on the Coke Side of Life” and “Float on the Coke Side of Life.” Executives said these will be fine-tuned to tap deeper into local markets and more accurately reflect specific cultural tastes and lifestyles.

Coke CEO Neville Isdell said the new global ad strategy should return the company to its former glories within eighteen months. Such confidence is important, particularly as Coke’s shares have lost almost 20 percent in value under Isdell’s short reign. He acknowledged Coke had suffered an “innovation deficit” of late.

Marketing chief Mary Minnick outlined three new themes to appeal to customers – enjoyment, comfort and nutrition. She said: “We want Coke brands to be more relevant, an integral part of consumers’ everyday lives. We want to build a relationship with consumers.” She also spoke of a “more targeted brand portfolio,” to include a host of new product launches. In January, Coca-Cola Blak, a coffee-infused cola, will hit the stores to get the ball rolling.

(e.g.: “Coke time” might mean “It’s time to drink Coke”)

1. 
   “The ideal brain tonic.” (1893)
   
2. 
   “Universal symbol of the American way of life.” (1943)
   
3. 
   “Hello Coke.” (1944)
   
4. 
   “Coke time.” (1954)
   
5. 
   “Coke... after Coke... after Coca-Cola.” (1966)
   
6. 
   “It’s the real thing.” (1970)
   
7. 
   “I’d like to buy the world a Coke.” (1971)
   
8. 
   “Welcome to the Coke side of life.” (2006)
   

3. Match the following synonyms from the text:

To understand the ways in which firms behave, and to be successful in predicting how they will react to changing circumstances, we need to know who controls the firm, as well as who formally owns it. There is, usually, no difficulty in this matter in the case of sole proprietorship, partnership, and small private companies, especially when the owners play an active role in running the business.

In giant corporations, by contrast, the situation may be quite different. The owners of joint-stock companies are the shareholders. They elect the Board of Directors who are answerable, in principle, to the shareholders at company meetings, especially at the annual general meeting when accounts for the past year and forecasts for the future are presented for approval. The directors, in turn, appoint salaried managers to run the business. The chief executive is usually the managing director, or the chairman of the company.

The power that the owners of a business have over directors may, however, by quite limited in practice. Many investigators of corporate behaviour hold the view that a minority of shareholders often exercises effective control over the decisions of the company. The power of small groups of shareholders depends, among other things, on the distribution of share ownership. It may be slight if ownership is widely dispersed.

To understand why this is so, it is necessary to appreciate that each ordinary share normally carries one vote. Any individual or group owning 51 per cent of the voting shares clearly controls a majority of votes. But, suppose one group owns 30 per cent, with the remaining 70 per cent distributed so widely that few of the dispersed groups bother to vote. In this event, 30 per cent may be the overwhelming majority of shares actually voted. Often a small fraction of the shares actually voted nay be the dominant influence at shareholders' meetings.

HOW TO USE AN ATM
Automated teller machines (ATMs) are open 24 hours a day throughout most cities in shops, grocery stores, airports, banks and on the street. Most banks are part of an international network so you can use ATM cards around the world. This makes banking very convenient whether you are making a withdrawal (taking money out of your bank account) or a deposit (putting money in your account). An ATM is a computer. There are different designs but most operate in similar ways.
1. Take your ATM card out of your wallet or purse.

2. Put it in the machine.

3. Key in your personal identification number (PIN)

4. Push the button to select which language to use.

5. Select the transaction you want.

6. For a withdrawal, select the amount of money you want.

7. Wait while the machine operates.

8. Take your money out of the machine with your receipt and ATM card.

9. Spend as you please; it's your money.
AN ATM SAFETY GUIDE
If you have an automated teller machine (ATM) card, be alert, cautious and careful. Follow these ATM safety tips:

BE ALERT

• Use common sense. Trust your eyes, ears and feelings. Only use ATMs where you feel safe.

• Stop, look and watch. If you think someone is following you when you use your ATM card, move quickly to a safe, crowded area. Don’t stay at the machine.

Know the ATM. Do not use the ATM if:

• the ATM looks different or

• the ATM has any unusual signs.

Contact the bank and report the problem immediately.

Guard your card. Tell your bank immediately if:

• your ATM card is lost or stolen or

• any unauthorized ATM transactions appear on your account statements.

You should be fully reimbursed if you notify your bank promptly. Treat your ATM card like cash. Guard your ATM card as carefully as cash, checks and credit cards.

• Keep your personal identification number (PIN) a secret

• Memorize your PIN.

• Stand between the machine and anyone behind you.

• NEVER tell your PIN to anyone.

• NEVER write it on your card or keep it with the card.

• NEVER let someone else enter it for you.

PRACTISE SAFETY

a. Minimize time spent at the ATM.

b. Have your card ready to use.

c. While using your card, if anyone or anything seems suspicious, press

cancel and leave immediately.

d. NEVER let a stranger help you at an ATM.

• 
  Don’t flash cash
  
• 
  Put away your money, receipt, card and wallet right away.
  
• 
  Never walk around with cash in your hand.
  

• Protect your purchases. When using an ATM, place your bags and purchases between you and the machine where you can easily see them.

• Play it safe at night. Choose an ATM that is well lit. There is safety in numbers, so bring along a friend if you can.

1. True or False?

1. T / F Write your PIN number on your social security card so you won’t

forget it.

2 . T / F Never walk around with cash in your hand.

3. T / F Don’t shut off your car engine at the drive-up ATM.

4. T / F Take your time at the ATM. There is no hurry.

5. T / F To be safe, bring a friend to the drive-up ATM at night.

6. T / F If you have a problem at the ATM, ask another customer for help.

7. T / F If your ATM card is lost, don’t worry because you may find it

soon.

1. If your ATM card is lost or stolen, notify __________

a. your teacher b. your bank c. the police

2. How should you feel at your ATM? __________________

a. nervous b. unhappy c. safe

3. What should you keep secret? __________

a. phone number b. PIN number c. your address

4. In your car at the ATM, what should you open? ____________

a. driver’s window b. trunk c. door

5. What should you have ready at the ATM? __________

a. your purchases b. your card c. your keys