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[阅读小分队] 【每日阅读训练第四期——速度越障20系列】【20-02】经管-Bank

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发表于 2013-6-5 20:24:06 | 显示全部楼层 |阅读模式
    大家好,周三经管来了~
    今天的Time1、2、3是一篇,Time 4、5是一篇~


Part I:Speed

Article 1
What is a Bank?

【Time 1】

   While the question may seem elementary, the answer can be quite complex. Understanding what banking is all about will help you make better financial decisions.
   A bank is a financial institution where you can deposit your money. Banks provide a system for easily transferring money from one person or business to another. Using banks and the many services they offer saves us an incredible amount of time, and ensures that our funds "pass hands" in a legal and structured manner. There are also other types of financial institutions that operate just like banks. We'll cover these later.
Why Do You Need a Bank Account?
   With all the changes taking place in the banking marketplace today, you might ask yourself:Do I really need a bank? Why can't I just find a way to avoid all these fees? What types of accounts are available to me? It can be mind-boggling. There are many reasons why a banking relationship is vital:
•        When you deposit money in a bank, you have the comfort of knowing your money is in a safe, insured place. Deposits in most banks are insured by the Federal Deposit Insurance Corporation (FDIC). This means your money is protected up to $100,000 per depositor. You can also think of it as "out of sight, out of mind." If you don't have a daily visualization of your cash at hand, you'll probably be less tempted to spend it frivolously.

(238)

【Time 2】
•        Most people and businesses, including your employer, need to have a paper trail to document transactions. Checks are a perfect way to keep a permanent record of business activities, even when they are personal. Even if you bank online, there is a well-documented trail of all your transactions.
•        Using a personal checking account can save you time and money. Imagine how much lost time, travel expense, inconvenience, and potential aggravation you could incur every month if you had to buy money orders or, worse yet, visit all your creditors in person. The ability to simply write a check and drop it in the mail is invaluable.
   For example, every time you need cash to pay a bill, you simply write a check to your creditor. Your creditor deposits your check in their bank. Your creditor's bank processes your check through the Federal Reserve Banking System (The Federal Reserve Banking System operates as the U.S. Central bank and, among other activities, provides banking services to financial institutions and the U.S. government), and the money is pulled from your checking account. Result for very little effort on your part, your creditor gets paid.
•        The same principles apply to savings accounts. Establishing a savings account keeps your money safe while allowing easy access to it. Plus, you get the benefit of earning some interest on your balance and putting your money to work for you.

(231)

【Time 3】
How Banks Operate?
   In addition to providing a safe place for your money, banks also loan money to businesses and consumers. A large portion of a bank's business is lending. How do banks get the money they loan? The money comes from depositors like you. Banks use these deposits to make loans. Every fee you pay to your bank enables them to reinvest in themselves, giving them more money to loan to you, for another fee, of course.
   Banks are in business to make a profit. Their profit generally comes from the difference in interest paid to depositors and the interest earned on loans. Making loans helps banks make money, and offering checking accounts is a way to attract deposits, which banks turn into profitable loans.
Banks cannot legally loan all of their deposited money all at once. The Federal Reserve Board, which is part of the Federal Reserve System, requires that banks must keep a certain percentage of their deposits in reserve at all times, assuring you, the customer, can withdraw your money when you need to. The remaining funds, which are not subject to reserve, are used to make consumer loans. For more information about the Federal Reserve Board, visit www.federalreserve.gov.
   Other Services Offered by Banks
•        Credit Cards
•        Personal Loans
•        Home and Car Loans
•        Mutual Funds
•        Business Loans
•        Safe Deposit Boxes
•        Debit Cards
•        Trust Services
•        Signature Guarantees
   and many other investment services.
(234)

【The rest】
Other "Banking" Organizations
   You can obtain the services offered by traditional banks from other financial institutions as well. Savings and Loans or Thrifts, as well as Credit Unions, offer banking services that may fit your needs. The primary difference between various financial institutions is in the charters under which they operate and the regulatory body that oversees them. See the State of Wisconsin's explanation of the differences between banks, credit unions, and savings institutions. Generally, you can obtain the same or similar services from these institutions.
   Today you can bank by phone, use Automated Teller Machines (ATM's) or log onto your bank's Internet site to handle most of your transactions in a secured environment, conveniently and safely. There are hundreds of banks, thrifts, and credit unions from which you can choose. As a result, there is increased competition for your business. This can be translated into great news for you! You have a wide array of products and institutions to choose from and can expect better fees for better services.
(169)
Source:
http://www.careonecredit.com/knowledge/what-is-a-bank.aspx


Article 2: Check the title later
As Goes the Economy, So Go the Bank Stocks: Bove


【Time 4】
   Ask investors if they think the stock market is overdue for a correction or worse, and you'll likely find a sizable sampling that think it's not only possible, but likely. Ask those same investors if they think we are going to slip back into recession again and you're apt to hear the proverbial crickets.
   Even the most pessimistic of pessimists have come to admit that the economy has some traction and, at the very least, appears to have stabilized.
For Dick Bove, head of financial sector research at Rafferty Capital Markets, the question of whether or not to buy into banks now is as simple as making an up or down call on the economy.
   "If the economy does well, they'll do well. If the economy does poorly, they do horribly," the veteran analyst says in the attached video.
   And since he thinks the economy will continue to do well for the next couple years, it only makes sense that the banks will track that ascent.
   "As a result, my belief is that bank earnings will continue to rise, bank book values will go up, and bank stocks will continue to go higher," he says.
   For the record, the Financial Sector SPDR (XLF) and the KBW Bank Index (^BKX) are almost a 2:1 outperformance over the S & P 500 for past year, rising 47% and 28% respectively.
(226)

【Time 5】
   And while many traders have been consumed with the timing and impact of if and when the Fed starts scaling back its support, Bove's research suggests otherwise.
   "What I discovered is essentially that the Fed has put so much money into the financial system, that there's $1.7 trillion right now of net free reserves at the Federal Reserve," he says, meaning there's $1.7 trillion that has yet to be spent by the banks. "The Fed can taper all it wants, there's still a staggering amount of money that needs to come into the economy from the banking system, so I don't think the tapering will mean anything."
When asked about rising rate risk he has similar disdain and confidence in his picks.
   "It's hard for people to understand, but the higher interest rates go, the more houses you sell," he explains, adding that the same is true for cars and loans in general.
   "When interest rates are going up, it's because employment is going up and the economy is going up and people are buying more things," he declares, adding that any modest rise in interest rates is unlikely to slow down the economy.
   It's not like this is a new development since Bove points out that bank earnings have been growing for 14 consecutive quarters.
   "Banks are getting profits from everywhere. Bad loans are going down. They are lending more money in the commercial sector. They are seeing the cost of running the business go down."
   In short, he says the bank story still has a long way to go.
(261)
Source: Finance.yahoo
http://finance.yahoo.com/blogs/breakout/goes-economy-goes-bank-stocks-bove-123820257.html?vp=1

插播一则广告:
    细心的同学也许已经发现了,今天的速度文章都围绕着一个关键词“Bank”。这是我的新尝试:每期所有速度文章都围绕一个Key Word。希望能在帮助大家提高阅读能力的同时,也多少能对一些经管类名词有初步了解。如果同学们有非常感兴趣的经管类"Key Words",不要吝啬,通通提供给我哦。我会尽我最大的努力去找一些相关的适合做速度训练的文章回报大家~OVER~

Part II: Obstacle


Artical 3:Check the title later
How to Fix the Post Office: Keep the ‘Last Mile,’Outsource the Rest
   
   A proposal to create a “hybrid” United States Postal Service would keep postal workers on their routes while allowing private companies to compete for mail collection, transportation, and processing. Now all it needs is a divided Congress and a reluctant postmaster general to sign off on it.
   A new study released today by a non-partisan Washington think tank recommends a radical departure for the struggling United States Postal Service: a public-private partnership that would open up much of the service’s back-end logistics to outside competition.
   The idea to partly privatize the Postal Service has been floating around for at least a decade, and it’s been the subject of other recent studies too, including a white paper written in part by former postal employees and released by the National Academy of Public Administration; and an analysis of that paperfunded by Pitney Bowes, a shipping and packaging company that would almost certainly benefit from the post office’s privatization.
But the study released today by The Information Technology & Innovation Foundation adds a bit more to the discussion.
   This public-private hybrid proposal centers around private companies competing to accept, transport, and process much of America’s first-class mail. The USPS’s mail carriers would keep their “letterbox monopoly” on existing delivery routes, and the Postal Service would determine a national average for delivery costs that it would charge those private carriers.
   The author of the paper, ITIF President Robert Atkinson, likens it to the break-up of AT&T in the 1980s, which allowed competition among long-distance carriers for the first time. “If you want to go to a post office in the future, you might go to CVS or a Safeway or your local bank branch,” says Atkinson. “And then they might contract with FedEx to move that mail, which would all end up at a local USPS processing facility.” From there, mail would essentially be delivered like it has been since the development of the postal service two centuries ago — but, in Atkinson’s view, at much lower costs.
   That would mean a dramatically different, and smaller, USPS. Atkinson estimates that 40% of the more than 500,000 workforce would lose their jobs and possibly half of the more than 30,000 post offices would close. But he argues that some of those jobs would be made up by private carriers performing work previously done by USPS.
   In theory, opening up the USPS’s services to competition would allow it to operate much more efficiently, and save costs. In its second quarter, which ended March 31, USPS lost $1.9 billion, an improvement over the same period in 2012, when it lost $3.2 billion, largely due to a reduction in operating hours and a consolidation of mail-processing facilities. Still, the Postal Service is losing $25 million a day.
“If it was a private company, it would’ve filed Chapter 11 by now,” says Atkinson.
   Atkinson’s study cites numbers from the Government Accountability Office showing that contract postal units, which operate out of a primary business like a supermarket but offer many of the same products and services as an official post office, are much more cost-efficient. According to the GAO, the USPS incurred $0.17 in costs for each dollar of revenue at CPUs compared to $0.51 at post offices.
   Most other recommendations for fixing the USPS’s financial problems are much less radical; many include finding new sources of revenue like shipping beer and wine, closing facilities, or continuing to pare down its workforce. On the other end of the spectrum is complete privatization, which would fully get rid of the Postal Service we know today. A hybrid public-private partnership is somewhere in the middle and is probably the most interesting proposal being discussed.
   But the hybrid recommendations don’t address a fundamental issue with Post Office finances: the multi-billion-dollar Congressionally mandated payments to pre-retiree health benefits that the Postal Service is required to make each year. Proponents of partially privatizing the USPS argue that while eliminating that requirement would certainly help in the short-term, the trend lines show continued future dips in mail volume and increased use of digital communication among Americans that will eventually have to be addressed by more structural changes.
   The biggest problem, however, may getting any serious reforms approved by Congress, which shows no real signs that it wants to fundamentally alter the way the Post Office operates. Postmaster General Patrick Donahoe, meanwhile, seems more inclined to continue paring back services and finding new revenue streams. In the end, a hybrid proposal may just be another interesting idea that won’t get traction. But, eventually, something will have to be done to right the Post Office’s ship.
   “The reality is, this is a bit of a build it and they will come proposal,” says Atkinson. “And it may be that the USPS is as efficient as you can get. But I don’t think that’s the case. If it is, then we haven’t lost anything. USPS would get all the business. But I think the urgency will increase over time to do something. Eventually people are going to say, we have to do something really serious here. And the reality will sink in that you have to take more serious structural positions.”
(862)
Source: Time
http://business.time.com/2013/06/03/how-to-fix-the-post-office-keep-the-last-mile-outsource-the-rest/

P.S.
我挂个12系的名字都能被抢沙发,占座党们,你们太!强!大!了!
发表于 2013-6-5 20:53:25 | 显示全部楼层
抢沙发~~
发表于 2013-6-5 20:54:29 | 显示全部楼层
哎?12系?

___________________________________________________________
Speed
01:08
01:05
00:54
00:57
01:20

Obstacle
04:57
发表于 2013-6-5 21:01:00 | 显示全部楼层
算了。来抢了~~

1.34
describe what a bank is all about and it is safe to deposit your money in bank

1.32
save your time

1.21
the bank are also loan money from savers to the business and

54

1.59

7.10
发表于 2013-6-5 21:54:07 | 显示全部楼层
1 - 01:06
2 - 01:16
3 - 01:03
4 - 01:15
5 - 01:31

Article 1的内容比较熟悉,读起来好开心~~~苍茫的经管是我的爱~~~~

哈哈哈越障读过了!耶!
发表于 2013-6-5 21:55:35 | 显示全部楼层
我来洗白菜了,嘤嘤嘤~
发表于 2013-6-5 22:13:56 | 显示全部楼层
占位,谢谢心动姑凉〜

交作业咯~
Time1 1'02"
Time2 1'01"
Time3 54" + 40"
Time4 58"
Time5 1'09"
Obstacle 4'25"
发表于 2013-6-5 22:19:36 | 显示全部楼层
0:52
0:56
0:46
1:00
0:55

4:57
发表于 2013-6-5 22:43:47 | 显示全部楼层
铁板宠物,铁板萌物。猫猫来啦~~

20-02
Obstacle:
MI: how to fix the US Post Service (USPS)?

Structure:
1. a radical departure for the struggling USPS: to have a public-private partnership
2. This public-private hybrid centers around private companies competing to accept, transport, and process much of US's first-class mail.
3. It means a dramatically different and smaller USPS.
4. In theory, this hybrid would open USPS'  service to competition, allowing it to operate much more efficiently and save cost.
5. However, the hybrid recommendations haven't address a fundamental issue with PO finances.
6. The biggest problem is to getting any serious reforms approved by Congress.
发表于 2013-6-5 22:46:28 | 显示全部楼层
占座占座
0'58"
1'14"
1'12"
1'11"
1'25"

5'10"
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