很多套利者被套牢的高價股票達到1.5億美元，很多公司因此倒閉。

The drivers took a 22% pay cut in 1987 when Greyhound officers acquired the company in a leveraged buyout and slashed costs to restore profits.

1987年，當灰狗現在的老板以杠桿收購公司時，對司機減薪22%，并且撙節開支，以求恢復獲利。

reorganization

重組

Macy is in bankruptcy,

梅西百貨公司已經破產，

and Federated hopes to convert the debt holdings into control of Macy by crafting a yet undisclosed reorganization plan.

而Federated希望借由正在策劃但尚未公布的重組計劃，將負債的持股轉變成對梅西的控制權。

As part of a reorganization plan that should enable the battered carrier to emerge from Chapter 11 bankruptcy protection early next year,Icahn agreed to provide $615 million in cash,loans and pension-fund guarantees.

Icahn同意提供6.15億美元現金、貸款及退休保證金，作為重組這家飽受打擊的航空公司的計劃中的一部分，讓它能自明年起脫離第11章的破產保護。

stock option

認股權

To hear Silicon Graphics president Edward McCracken tell it,taking away the executive’s most prized form of compensation-stock option-

依照硅圖公司總經理Edward McCracken的說法，取消高級主管最豐厚的俸祿——認股權——

would be nothing less than a disaster for American business.

對美國企業而言將會是一場大災難。

Pepsi Co.now offers a special stock option plan to all its 100,000 full-time employees,

百事可樂公司目前對它10萬名全職員工提供一個特別的認股權計劃。

from senior managers to Frito-Lay truck drivers and Taco Bell chefs.

從資深經理到Frito-Lay土豆片的卡車司機，和Taco Bell墨西哥速食的大廚師，都可以享有認股權。

tender offer

投標報價

Within three hours of the decision,Time carried out its tender offer to pay $70 a share for 100 million of the more than 180 million Warner shares outstanding.

在決策完成后3小時之內，時代就執行它的投標報價工作，買下華納超過1.8億在外流通股票中的1億股，每股價格70美元。