有资本

Respecting this, zhang Guanxi's engineer takes goblet quaff, rely on on the chair to continue respecting: Baidu has 3 big competitors at present: It is Gu Ge, it is Tecent, it is the portal station; such as sina, Netease among them cereal song nip is giant capital and top technology actual strength, whole break down Yahoo after this is only dinosaurian, it is at the summit of one's power more, together with is familiar with Chinese to search a field gradually, hold concurrently with Adsense draw over the heart of the world stationmaster, discharge day is tall, except Baidu has powerful support in respect of governmental public relations, lose; of city lost territory already and Tecent, have the user group of nearly 200 million, the horse changes Teng Qian to reside Shenzhen, be covetous on searchs engine this cake is long already; another competitors namely each big door station, root deep tree is tall, more development searchs the criminal record of engine, all along also is to peep the; together with that search index props up this cup of a thick soup Baidu appears on the market now, capital drive technology, baidu now is must nod wildly, for discharge insanity, for silver insanity, you these careless root stationmaster are the act that understands Baidu very hard.

说到这，张冠西工程师拿起酒杯一饮而尽，靠在椅子上继续说到：百度目前有三大竞争对手：一是谷歌，一是腾讯，一是新浪、网易等门户站；其中谷歌挟庞大资金及顶尖技术实力，整垮掉雅虎这只恐龙后，更是如日中天，加之渐渐熟悉中文搜索领域，兼用adsense笼络了天下站长之心，流量日高，若不是百度在政府公关方面有强大支持，早已丢城失地；而腾讯，有近2亿的用户群体，马化腾潜居深圳，觊觎搜索引擎这块蛋糕已久；另外的竞争对手即各大门户站，根深树高，并多有开发搜索引擎之前科，向来也是偷窥搜索引擎这杯羹的；加之现在百度上市，资本驱动技术，百度现在是不得不疯狂点，为流量疯狂，为银子疯狂，你们这些草根站长是很难了解百度的举动的。

Investee companies who choose to fund via the venture capital route may, if they are fortunate, have a number of interested VC's vying for the investment, but they will be debating valuations, not whether or not a preferential security will be issued.

谁选择投资公司的资金通过风险资本路线可能，如果他们很幸运，有一些有兴趣的风险投资的争取投资，但他们将进行辩论的估值，而不是是否有优惠安全将印发。

To cherish peace and friendly intercourse with all nations having correspondent dispositions; to maintain sincere neutrality toward belligerent nations; to prefer in all cases amicable discussion and reasonable accommodation of differences to a decision of them by an appeal to arms; to exclude foreign intrigues and foreign partialities, so degrading to all countries and so baneful to free ones; to foster a spirit of independence too just to invade the rights of others, too proud to surrender our own, too liberal to indulge unworthy prejudices ourselves and too elevated not to look down upon them in others; to hold the union of the States as the basis of their peace and happiness; to support the Constitution, which is the cement of the Union, as well in its limitations as in its authorities; to respect the rights and authorities reserved to the States and to the people as equally incorporated with and essential to the success of the general system; to avoid the slightest interference with the right of conscience or the functions of religion, so wisely exempted from civil jurisdiction; to preserve in their full energy the other salutary provisions in behalf of private and personal rights, and of the freedom of the press; to observe economy in public expenditures; to liberate the public resources by an honorable discharge of the public debts; to keep within the requisite limits a standing military force, always remembering that an armed and trained militia is the firmest bulwark of republic that without standing armies their liberty can never be in danger, nor with large ones safe; to promote by authorized means improvements friendly to agriculture, to manufactures, and to external as well as internal commerce; to favor in like manner the advancement of science and the diffusion of information as the best aliment to true liberty; to carry on the benevolent plans which have been so meritoriously applied to the conversion of our aboriginal neighbors from the degradation, and wretchedness of savage life to a participation of the improvements of which the human mind and manners are susceptible in a civilized state, as far as sentiments, and intentions such as these can aid the fulfillment of my duty, they will be a resource with can not fail me.

珍惜和平以及同所有有交往意向的国家的友好交往；对交战各国保持真正中立；在任何情况下，优先考虑以友善的讨论和理性来处理异议，而非通过武力来做出决定；排除外国阴谋和外国偏颇，这些对所有国家都造成堕落，对自由国家更为有害；培养一种独立的精神，其之公正不会侵犯他人权利，其之自豪不会丢弃自身权利，其之宽大不使我们自己纵养不值的偏见，其之高尚使我们蔑视他人的这些偏见；把众州的联合保持为众州和平和幸福的基础，拥护作为联邦链结的宪法，不论是其限制或权力；尊重保留给各州和人民的权利，因为它的重要性把它平等地纳入联邦总体的成功之中；避免最轻微的对良知权利和宗教功能的干涉，这些在民事裁判中豁免；代表私人和个人的权利以及媒体自由，以其全部的能量来保留其它相关有益条款；在公共花费中坚持节约；通过偿还公共债务来解放公共资源；在必要的限度下保持一支常备军，时刻要记住武装并训练过的民兵才是共和国的中流砥柱，即是，没有常备军他们的自由从未有危险，而有了一支庞大军队也未必安全，通过授权的手段来发展有益于农业，制造业，对外和对内的商业，以适当的方式支持科学的发展和信息的传播来作为真正自由的最好食粮；执行善意的计划以把我们的土著邻居从，野蛮生活的低贱和不幸中转化到参加入一个文明国家内人的思维，和举止都倾向的改良中--只要如此的思想，和意图能辅助我职责的履行，它们将成为不使我失败的资本。

For the mode of legislation, it is suggested that a principle regulations to be made while the detailed applied situation and conditions are specified further in judicial explanation; regarding the applied situation, give four kinds of examples as shortage of capital, mixing of company, property of shareholders, business and personality, avoid the liability of contract and legal liability using of company personality; when making judgment, such three parts as main body, action and results have to be considered. The voluntary creditor and forced creditor consists of prosecutor, those person who abuses the force of company is the defendant who has the act of abusing company personally resulting in bad effect; the responsibility of producing of evident may refer to those of courts of Germany, which is proved by prosecutor, after that, the defendant provides the evident that he has a proper action for the suit of company or his action is not the direct cause for the loss of company; the legal effect of disregarding of corporate personality is to deprive the rights of limited liability of shareholders and shall undertake the affiliated liability according to different situations of company debts, however, it is clear that the legal effect is only limited to the special legal relationship in the specific case; the exercising body is made by court while the corporate personality might not be disaffirmed directly in exerting process; finally, it points out the real essence and also its real sense and difficulties in practice.

对立法模式，建议成文法中只做原则性规定，而具体的适用情形、适用条件等规定可以在司法解释中进一步作出明确规定；对适用情形，根据我国实际列举了资本显著不足、公司与股东财产、业务、人格的混同、利用公司人格规避契约义务和逃避法律义务四种大类；审判时应考虑的要件包括主体、行为、结果三大要件，自愿债权人和非自愿债权人构成原告，对公司有控制力的滥用者为被告，要有滥用公司人格的行为，并有损害的结果产生；举证责任可参照德国法院的做法，由原告提供初步证据证明公司存在滥用公司人格的行为，而后，由被告提供证据证明自己与涉诉公司的关系是正当的，或自己的行为与原告的损失没有因果关系；否认公司人格的法律效果是剥夺股东在个案中的有限责任的权利，视不同情形对公司债务承担连带责任，但应明确法律效力仅限于个案中的特别法律关系；行使主体应由法院的审判庭行使，而不宜在执行程序中直接否认公司法人人格；最后对逆向揭开公司面纱作了探讨，指出其现实意义和实践难点。

However, because banks and other firms that risk insolvency may be willing to take outsized bets, some minimum capital threshold may need to be established to avoid recapitalizing banks that are likely to fail in any case, since leaving them in operation could end up increasing fiscal costs without providing much additional benefit

不过，因为有破产风险的银行和其它公司可能想孤注一掷，设定一个最底的资本门槛还是有必要的。这样可以避免重组一些行将倒闭的银行。因为保存这样的银行不破产，不会有什么新增利润，也就不会增加税务支出。

There is the ancient master called "The East is Red", their cut of the baby reaches invincible, a man in order to sing the female voice in modern times, fortunately, that when cut,"castrato", which are playing Yin Jian, playing a different type of excellence, Today, more out of a film of Zhang Yimou's bold, it has also meant that he had become "The East is Red" in the capital.

古代有个高手叫&东方不败&，自己切了宝贝练到天下无敌，近代有男人为了唱女声，所幸割了当&阉人歌手&，这都是玩淫贱、耍另类的至高境界，今日多了一个影坛的张艺谋勇敢出位，也意味着他有了成为&东方不败&的资本。

The first two impulsions\' influences to the product market environment and capital structure is one-off, once facing the impulsions, the oligopolies will adjust their product and capital decisions, then the equilibrium of product market will recover. When facing the third impulsion, the oligopolies can reach to a temporary equilibrium by adjusting their strategies, but the leader will have a strong desire to change its strtage and the long-term equilibrium will not be reached until one of the oligopolies retreat from the market.

前两种随机冲击对市场环境和资本结构的影响是一次性的，寡头企业在冲击之后调整产品市场决策和资本结构决策，产品市场可以恢复均衡；第三种冲击之后企业可以通过调整策略获得暂时的均衡，但领导企业有进一步作出非对称策略变化的动力，市场的长期均衡是寡头厂商之一退出市场。

Based on these facts, it defmitude the New-hope company"s strategy orientation: keeping absolute control to Cable company, keeping opposite control to Software company, quiting Cenment company; Cable company indraughts strategy investor, realizing product,market and capital"s fast expansion, finally becoming a leader in cable field; Software company transfers its wroking emphases, and becoming influential local software house dedicating to petroleum geology, Cenment company is sold, and takes back money for relevant uses; through capital operation, by three to five years effort, New-hope company become a industrial-type holding company which dominating in electrical wire and cable yield and simultaneously set foot in information industry.

在此基础上给出了新希望公司的战略定位，即：对各业务单位进行战略调整，保持对电缆公司的绝对控股，对软件公司实行相对控股，退出水泥公司；电缆公司引入战略投资者，实现产品、市场和资本的快速扩张，成为国内同行业领先者之一；软件公司转移经营重点，并通过&创业版&进行社会融资，成为国内有影响力的石油地质软件开发商；退出在水泥公司的股权，转而投向上述相关产业；以资本运营为手段，经过3～5年的快速发展，使公司成为以电线电缆的生产经营为主，同时涉足信息产业的产业型纯粹控股的企业集团。

We have data to prove, this is in with each body accumulation rises the network capital structure beyond capital market, they are stepping undaunted pace, the brave abyss that falls to cliff goes

我们有数据证实，这个在资本市场以外的网络资本结构是用一个个尸体堆积起来的，他们迈着大无畏的步伐，勇敢的向悬崖下的深渊走去

In accordance with the contract set, the structural security of the notes corresponding to the funds through a certain degree of structure and mechanism of the full allocation of the proceeds in assets and capital preservation assets, including assets, income, the ratio of fixed-income goal of 45%(20% to 70 % Floating), the target ratio of 35% of the shares (10% and 60% floating), the real estate trust the target ratio of 10%(a maximum of 15%), commodity funds target ratio of 15%(a maximum of 15%); capital preservation assets are invested in zero-coupon notes.

按照合同规定的规定，票据的对应资金结构的安全性通过结构和在资产和资本保全资产，包括资产，所得收入全部分配机制一定程度时，固定收益率目标的45％（20％至70％浮动），有35％的股份目标比例（10％和60％的浮动），房地产信托10％的目标比例（15％最大），商品资金15％的目标比例（15％为上限）；资本保全资产投资于零息债券。

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。