单选题During the past 15 years, the most important component of executive pay packages, and the one most responsible for the large increase in the level of such compensation, has been stock-option grants. The increased use of option grants was justified as a way to align executives' interests with shareholders'. For various tax, accounting, and regulatory reasons, stock-option grants have largely comprised "at-the-money options": fights to purchase shares at an "exercise price" equal to the company's stock price on the grant date. In such at-the-money options, the selection of the grant date for awarding options determines the options' exercise price and thus can have a significant effect on their value. Earlier research by financial economists on backdating practices focused on the extent to which the company's stock price went up abnormally after the grant date. My colleagues and I focused instead on how a grant-date's price ranked in the distribution of stock prices during the month of the grant. Studying the universe of about 19,000 at-the-money, unscheduled grants awarded to public companies' CEOs during the decade 1996-2005, we found a clear relation between the likelihood of a day's being selected as a grant date for awarding options, and the rank of the day's stock price within the price distribution of the month: a day was most likely to be chosen if the stock price was at the lowest level of the month, second most likely to be chosen if the price was at the second-lowest level, and so forth. There is an especially large incidence of "lucky grants" (defined as grants awarded on days on which the stock price was at the lowest level of the month): 12 percent of all CEO option grants were lucky grants, while only 4 percent were awarded at the highest price of the month. The passage of the Sarbanes-Oxley Act in August 2002 required firms to report grants within two days of any award. Most firms complied with this requirement, but more than 20 percent of grants continued to be reported after a long delay. Thus, the legislation could be expected to reduce but not eliminate backdating. The patterns of CEO luck are consistent with this expectation: the percentage of grants that were lucky was a high 15 percent before enactment of the law, and declined to a lower, but still abnormally high, level of 8 percent afterwards. Altogether, we estimate that about 1,150 CEO stock-option grants owed their financially advantageous status to opportunistic timing rather than to mere luck. This practice was spread over a significant number of CEOs and firms: we estimate that about 850 CEOs (about 10 percent) and about 720 firms (about 12 percent) received or provided such lucky grants. In addition, we estimate that about 550 additional grants at the second-lowest or third-lowest price of the month owed their status to opportunistic timing. The cases that have come under scrutiny thus far have led to a widespread impression that opportunistic timing has been primarily concentrated in "new economy" firms. But while the frequency of lucky grants has been somewhat higher in such firms, more than 80 percent of the opportunistically timed grants have been awarded in other sectors. Indeed, there is a significantly higher-than-normal incidence of lucky grants in each of the economy's 12 industries.

单选题Expansion in Europe between 1350 and 1450______

单选题The "underconnectivity theory" attributes autism to______.

单选题Generally speaking, a British is widely regarded as a quiet, shy and conservative person who is (1) only among those with whom he is acquainted. When a stranger is at present, he often seems nervous, even (2) . You have to take a commuter train any morning or evening to (3) the truth of this. Serious-looking businessmen and women sit reading their newspapers or dozing in a comer; hardly anybody talks, since to do so would be considered quite (4) . (5) , there is an unwritten but clearly understood code of behavior which, once broken, makes the offender immediately the object of (6) . It has been known as a fact that a British has a (7) for the discussion of their weather and that, if given a chance, he will talk about it (8) . Some people argue that it is because the British weather seldom (9) forecast add hence becomes a source of interest and (10) to everyone. This may be so. (11) a British cannot have much (12) in the weathermen, who, after promising fine, sunny weather for the following day, are often proved wrong (13) a cloud over the Atlantic brings rainy weather to all districts! The man in the street seems to be as accurate -- or as inaccurate as the weathermen in his (14) . Foreigners may be surprised at the number of references (15) weather that the British (16) to each other in the course of a single day. Very often conversational greetings are (17) by comments on the weather. "Nice day, isn't it?" "Beautiful!" may well be heard, instead of "Good morning, how are you?" Although the foreigner may consider this exaggerated and comic, it is (18) pointing out that it could be used to his advantage. If he wants to start a conversation with a British but is at a loss to know (19) to begin, he could do well to mention the state of the weather. It is a safe subject which will (20) an answer from even the most reserved of the British.

单选题Which of the following statements its true according to the text?

单选题{{B}}Text 1{{/B}} The people who answer the phone get an endless stream of calls from people who are extremely upset that their electricity got turned off just because they failed to pay their bill for 297 months, or people asking questions like "Is it OK to operate an electric appliance while taking a bath?" So let's say that you have a genuine problem with your electric bill. The people in "Customer Service" have no way of knowing that you're an intelligent, rational person. They're going to lump you in with the usual not-so-bright public. As far as they're concerned, the relevant facts, in any dispute between you and them, are these: 1. They have a bunch of electricity. 2. You need it. 3. So shut up. This is why, more and more, the people in "Customer Service" won't even talk to you. They prefer to let you talk to the convenient Automatic Phone Answering System until such a time as you die of old age "... If your FIRST name has more than eight letters, and your LAST name begins with 'H' through 'L' press 251 NOW. If your first name has LESS than eight letters, and your last name contains at least two 'E' s, press 252 NOW. If your..." So is there any way that you, the lowly consumer, can gain the serious attention of a large and powerful business? I am pleased to report that there IS a way, which I found out about thanks to an alert reader who sent me a news report from Russia. According to this report, a Russian electric company got into a dispute with a customer and cut off the customer's electricity. This customer, however, happened to be a unit of the Russian Army. So the commander ordered a tank to drive over to the electric company's office and aim its gun at the windows. The electricity was turned right back on. On behalf of consumers everywhere, I want to kiss this military commander on the lips. I mean, what a GREAT concept. Imagine, as a consumer, how much more seriously your complaint would he taken if you were complaining from inside a vehicle capable of reducing the entire "Customer Service" department to tiny smoking pieces. What I am saying is: Forget the Automated Phone Answering System. Get a tank. Perhaps you are thinking: "But a tank costs several million dollars, not including floor mats. I don't have that kind of money." Don't be silly. You're a consumer, right? You have credit cards, right? Perhaps you are thinking: "Yes, but how am I going to pay the credit-card company?" Don't be silly. You have a tank, right?

单选题{{B}}Text 1{{/B}} The pollution of Hong Kong's beaches by oil from a damaged tanker last year recalls a similar incident which took place in Britain in 1967 when the Torrey Canyon, a huge oil tanker, split in two and caused disaster in coastal areas. Shoals of fishes were killed, sea birds hopelessly fouled with oil and coastal holiday resorts put out of business for several weeks. As a result of this particular incident scientists are becoming restless at the thought of Britain's inability to cope with national disasters on a large scale. The reason for their concern is that technology is rapidly outstripping(超越) man's ability to control it. Oil tankers, for instance, have been allowed to get bigger and bigger without sufficient thought being given to emergency braking and manoeuvring arrangement. Collisions at sea continue, but little effect has been made to develop safety devices as effective as those used for aircraft. Scientists were outspoken in expressing their concern during a recent meeting of the British Association. Unanimous approval was voiced when the leading speaker urged that a permanent national rescue services should be established, equipped for any emergency and ready to move off immediately. Of all the possible disasters mentioned, the one promoting most discussion was a major release of radioactivity from a nuclear power station. One does not need a particularly vivid imagination to visualize the other possibilities discussed. What would be the effect of a jumbo-jet crashing on a large chemical plant handling destroying liquids? Could the tapping of natural gas lead to any form of collapse? Suppose a lorry full of a highly poisonous chemical crashed unseen into a large reservoir? Dams can burst, abnormal conditions can lead to massive electrical blackouts. An intensive study of such possibilities could at least reduce the effects of future disasters. For example, it would mean that a number of technical alternatives (such as the choice between detergent or chalk for dispersing oil) could be examined and tested in advance so that specially trained expert would know exactly what action was needed in a given emergency.

单选题TheaverageAmericandrinksagallonofsodaaweek,whichdeliversroughly1,000caloriesandnonutrition.TheaverageAmericanisalsooverweightorobese.Couldchangingoneofthosethingshelpchangetheother?Agrowingnumberofofficialsthinkso,whichaccountsforaspateofproposednewtaxesonsodaasawaytodiscourageconsumptionwhileatthesametimeraisingmoneytofundotherobesity-fightinginitiatives.Some20statesandcities,fromNewMexicotoBaltimore,contemplatedsodataxesthisspring.Thereactionagainstthemhasbeenswiftandfierce.InMarch,scoresofsoda-companyemployeessportingPepsi,Cokeand7-UpgearswarmedtheKansasstatesenatetofightaproposalthatwouldhaveaddedapennyintaxforeachteaspoonofsugarinanonjuicedrink.Thatwouldhaveincreasedthepriceofa12-oz.sodabyabout10andgeneratedsome$90millioninrevenueayear."Ithoughtthisisawisechoice,"saysstatesenatorJohnVratil,who,likecounterpartsacrossthecountry,hasbeenstrugglingtoaddressbotharecession-inducedbudgetgapandrisingpublic-healthcostsstemmingfromobesity.Instead,hegotanearfulabouthowasodataxwouldkilljobs,burdenthepoorandconstituteanunwelcomegovernmentintrusionintotheAmericandiet.GovernmentinvolvementinwhatAmericanseatisnothingnew.Butwhytaxsodaandnot,say,icecream,pizzaorOreos—or,forthatmatter,thevideogamesthatdiscouragekidsfromgoingoutsidetorunaround?Washingtoncity-councilmemberMaryChehsaysit"sbecausesodaiswherescientistshaveobservedtheclearestlinktoexcesspounds.WhenChehsetouttofundherHealthySchoolsAct,whichwouldraisefoodandphysical-educationstandardsatschoolsinD.C.whereabout40%ofkidsareoverweightorobese—shedidn"tknowshe"dwindupgoingaftersoda.Butthedataoverwhelmedher:TheamountofsodathetypicalAmericandrinkshasgrownbyroughly500%overthepast60years,andofthe250to300caloriesadayAmericanshave,onaverage,addedtotheirdietssincethelate1970s,nearlyhalfhavecomefromsugareddrinks."Idon"twanttoprescribetaxesforallsortsofdietarychoices,"saysCheh,"butifweweregoingtoonlytargetonethingtomakeamaterialdifference,sodawouldbeit."Thetougherquestioniswhetherincreasingthepriceofsodawould,infact,reducethenumberofcaloriespeopleconsume.Someresearchindicatestheanswerisyes.Otherresearchleavesroomfordoubt.Thoughstudiesdoshowthata10%increaseinthepriceofsodaleadspeopletopurchaseabout10%lessofit,thatdoesn"tnecessarilymeanfolksaren"tmakingupforthosecalorieselsewhere.Howdopeoplefeelaboutsodataxes?InApril,theQuinnipiacUniversityPollingInstituteaskedresidentsofNewYorkStateiftheysupportedoropposeda"fattax"onnondietsugaredsoda.Thirty-onepercentwereinfavor,and66%wereopposed.Yetwhenaskediftheywouldsupportsuchataxifthemoneyraisedwereusedtofundhealthcare,peoplechangedtheiropinionsdramatically,with48%infavorandjust49%opposed.

单选题According to paragraph 1, the insider's attitude towards Google IPO can be said to be

单选题It can inferred from Paragraph 4 that airlines' cost-cutting moves

单选题Philip Morris, the conglomerate that owns Kraft Foods but is probably best known for its cigarettes and costly tobacco, litigation, recently decided to change its name to Altria to reflect the diversity of the company's brands. And Enron, which is in the process of moving its core energy assets out from under the bankruptcy and into a separate company, is looking for a new name for that entity. The recent name changes highlight the importance for companies of choosing a moniker that is relevant and authoritative while still being catchy an appealing to consumers, say marketing experts. A rose by any other name might smell as sweet, but if a company chooses a name that does not work, the stench can hover for quite some time. Companies often decide to change their names in an effort to rebrand themselves after a merge or a spin off. For instance, Andersen Consulting changed its name to Accenture shortly after that firm split from parent Arthur Andersen—a move that turned out to be fortuitous, given Andersen's troubles. Companies may also want to reinvent themselves after a scandal has tarnished its name, as Enron is doing. Or perhaps they simply want to give their image a makeover. But a new name that does not work can be a mistake that can cost company customers, credibility and millions of dollars. One example out of Britain last year was the U.K. Post Office's decision to change its name to Consignee. The postal service recently renamed itself once again to Royal Mail Inc., capping off a year of steep job and revenue for the entity. Though a hefty advertising and marketing budget will help to make a new name successful, other factors, such as familiarity, a coherent message from the company and a name in people's minds. When U.S. automaker Chrysler merged with German company Daimler Benz to form Daimler Chrysler in 1998, a year after the deal, the familiarity of the newly merged company dropped to a score of 89 when the company was just called Chrysler. These days, PWC Consulting's new Monday title is causing more than one brand expert to raise their eyebrows in puzzlement. The company's web site proudly announces that "Monday is a flesh start, a positive attitude, part of everybody's life. Monday is a real name universally understood and easy to remember. Monday is confident. It stands for something." Too bad the only thing Monday stands for in most people's minds is the beginning of a week full of toil and drudgery. Monday is not everyone's favorite day; it's just an odd choice. "Like with any name, it's going to be what we make of it," says PWC Consulting's spokeswoman, "Whereas some look upon it perhaps with dread, we see it as a flesh start and a new beginning./

单选题______ led Einstein gradually to identify with the Jewish community.