倒闭

Both looked like they were topping weeks ago but recent bad news hit the wires making investors buy gold like the stock market is about to go under.

这两个看起来是一流星期前坏消息，但最近的电线击中使投资者购买黄金，如股市即将倒闭。

For Berkshire's shareholders, myself included, the cost of this thumb-sucking has been huge. o Our consistently-conservative financial policies may appear to have been a mistake, but in my view were not. In retrospect, it is clear that significantly higher, though still conventional, leverage ratios at Berkshire would have produced considerably better returns on equity than the 23.8% we have actually averaged. Even in 1965, perhaps we could have judged there to be a 99% probability that higher leverage would lead to nothing but good. Correspondingly, we might have seen only a 1% chance that some shock factor, external or internal, would cause a conventional debt ratio to produce a result falling somewhere between temporary anguish and default.

另外我们一贯保守财务政策可能也是一种错误，不过就我个人的看法却不认为如此，回想起来，很明显的我们只要能够再多用一点财务杠杆操作(虽然较之他人还是很保守)，就可以得到远比现在每年平均 23.8%还要高的投资报酬率，即使是在 1965 年我们也可以百分之九十九地确定高一点的财务杠杆绝对只有好处没有坏处，但同时我们可能也会有百分之一的机会，不管是从内部或是外部所引发令人异想不到的因素，使得我们负债比率提高到介于一时冲高到负债倒闭之间。

Compares the system umbrella big plant former days's magnificence which these already closed go out of business, regardless of being the production scale, the efficiency, the product quality, they possibly are forever are unable to place on a par.

比起那些已经关门倒闭的制伞大厂昔日的辉煌，无论是生产的规模、效率，还是产品的质量，他们可能是永远无法相提并论的。

As Mr Pallotta points out in his riposte,"Uncharitable", firing his firm may have got the expense ratio down, but it did the charities no good.

帕洛塔先生在他迅速推出的《冷酷无情》一书中指出，使他的公司倒闭也许会让费用率降低，但是这对慈善事业没有任何裨益。

In the early 1970's, after Davy retired, the executives running GEICO made some serious errors in estimating their claims costs, a mistake that led the company to underprice its policies - and that almost caused it to go bankrupt. The company was saved only because Jack Byrne came in as CEO in 1976 and took drastic remedial measures.

1970年代初期，在大卫退休后不久，继任的管理阶层犯了一连串严重的错误，他们低估了保险理赔的成本，使得公司对外销售保单的订价过低，此举导致公司几乎面临倒闭的命运，所幸后来由Jack Byrne在1976年接掌公司，并采取紧急的补救措施后，才使得公司幸免于难。

Such a fate raises the question of what will happen to the industry's huge unfunded pension liabilities.

这个行业有巨额的无资金准备的养老金义务，而倒闭的厄运将会为之带来难以预料的问题。

Our Japanese customer went out of business, but we were able to carry on relatively unharmed.

我们的日本客户倒闭了，但我们还是能继续经营，没有受到很大的伤害。

This is what contributed to the build-up of unmanageable risks that eventually brought some companies down.

这是造成不可控制风险日益加剧、最终迫使一些企业倒闭的原因。

This factory is unprofitable ,it will be closed

这家工厂赚不到钱了，很快就要倒闭。

When his company folded, for example, Volk put on a brave face to his family.

当他的公司倒闭时， VOLK 在家人面前仍然强装镇定。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。