破产人

Nowthere is much more to be said about the exceeding strange and wonderfulevents of those days; how some Suits of Microsoft plotted war upon thePenguin, but were discovered on a Halloween Eve; how Gates fell amonglawyers and was betrayed and crucified by his former friends, theapostles of Media; how the mercenary Knights of the Red Hat brought thegospel of the Penguin into the halls of the Corporations; and even ofthe dispute between the brethren of Gnome and KDE over a trollishLicence.

那时诞生了很多值得记录的佳音和咄咄怪事。比如：微软高层如何策动一场对企鹅进攻，却在万圣节前夜破产；盖茨如何陷入律师的困境同时被他过去的盟友—— Media 的使徒出卖并送上绞架；贪婪的 Red Hat 爵士如何将企鹅推进公司的深渊；以及 Gnome 和 KDE 如何手足相残。凡此种种都被记载在《圣经》的《企鹅之书》和《四代记》中。我想，如果将它们全部写下来，足够装满一堆 DVD 。如同 Usenet 新闻组一样深邃而危险。译注：1。 crucified ，指在十字街上钉死。是长时间以来深受欧洲人喜爱的死刑执行方法。

Interestingly, corporate managers have no trouble understanding that point when they are focusing on a business they operate: A parent company that owns a subsidiary with superb long-term economics is not likely to sell that entity regardless of price."Why," the CEO would ask,"should I part with my crown jewel?" Yet that same CEO, when it comes to running his personal investment portfolio, will offhandedly - and even impetuously - move from business to business when presented with no more than superficial arguments by his broker for doing so. The worst of these is perhaps,"You can't go broke taking a profit." Can you imagine a CEO using this line to urge his board to sell a star subsidiary? In our view, what makes sense in business also makes sense in stocks: An investor should ordinarily hold a small piece of an outstanding business with the same tenacity that an owner would exhibit if he owned all of that business.

有趣的是企业经理人在认定何者才是自己本业时，从来就不会搞不清楚情况，母公司是不会单纯因为价格因素就将自己旗下最优秀的子公司给卖掉，公司总裁一定会问，为什么要把我皇冠上的珠宝给变卖掉，不过当场景转换到其个人的投资组合时，他却又会毫不犹豫地，甚至是情急地从这家公司换到另一家公司，靠的不过是股票经纪人肤浅的几句话语，其中最烂的一句当属，你不会因为获利而破产，你能想象要是一家公司的总裁用类似的方式建议董事会将最有潜力的子公司给卖掉时，就我个人的观点，适用于企业经营的原则也同样适用于股票投资，投资人在持有一家公司的股票所展现的韧性应当与一家公司的老板持有公司全部的股权一样。

Interestingly, corporate managers have no trouble understanding that point when they are focusing on a business they operate: A parent company that owns a subsidiary with superb long-term economics is not likely to sell that entity regardless of price."Why," the CEO would ask,"should I part with my crown jewel?" Yet that same CEO, when it comes to running his personal investment portfolio, will offhandedly - and even impetuously - move from business to business when presented with no more than superficial arguments by his broker for doing so. The worst of these is perhaps,"You can't go broke taking a profit." Can you imagine a CEO using this line to urge his board to sell a star subsidiary?

Nor was the party over in 1938 for an investor： Though the $40 invested in 1919 in one share had turned into $3，277 by the end of 1938， a fresh $40 then invested in Coca-Cola 16 有趣的是企业经理人在认定何者才是自己本业时，从来就不会搞不清楚情况，母公司是不会单纯因为价格因素就将自己旗下最优秀的子公司给卖掉，公司总裁一定会问，为什么要把我皇冠上的珠宝给变卖掉，不过当场景转换到其个人的投资组合时，他却又会毫不犹豫地，甚至是情急地从这家公司换到另一家公司，靠的不过是股票经纪人肤浅的几句话语，其中最烂的一句当属，你不会因为获利而破产，你能想象要是一家公司的总裁用类似的方式建议董事会将最有潜力的子公司给卖掉时，就我个人的观点，适用于企业经营的原则也同样适用于股票投资，投资人在持有一家公司的股票所展现的韧性应当与一家公司的老板持有公司全部的股权一样。

Afterward his enterprise became insolvent and sometimes when he pulled a pedicab he would outpour the poses of taking photos in the past----a feeling of having experienced great things, I don't know whether President Kart would be like this when he turned out to be a carpenter later.

后来朋友的企业破产，他在拉人力三轮的时候，有时就流露出昔日那些让人拍照的动作。一副曾经沧海难为水的感觉。不知道当过总统的卡特到后来当木匠的时候是否也这样。

In the , sandwichman , distributor of throwaways , nocturnal vagrant , insinuating sycophant , maimed sailor , blind stripling , superannuated bailiff s man , marfeast , lickplate , spoilsport , pickthank , eccentric public laughingstock seated on bench of public park under discarded perforated umbrella .

行乞方面：欺诈成性的破产者，对每一英磅的欠款只有一先令四便士的微乎其微的偿还能力者，广告人，撒传单的，夜间的流浪汉，巴结求宠的谄媚者，缺胳膊短腿的水手，双目失明的青年，为法警跑腿的老朽318 ，宴会乞丐，舔盘子的，专扫人兴的，马屁精，撑着一把捡来的净是窟窿的伞，坐在公园的长凳上，成为公众笑料的怪人。

4D. in the pound, sandwichman, distributor of throwaways, nocturnal vagrant, insinuating sycophant, maimed sailor, blind stripling, superannuated bailiffs man, marfeast, lickplate, spoilsport, pickthank, eccentric public laughingstock seated on bench of public park under discarded perforated umbrella.

行乞方面：欺诈成性的破产者，对每一英磅的欠款只有一先令四便士的微乎其微的偿还能力者，广告人，撒传单的，夜间的流浪汉，巴结求宠的谄媚者，缺胳膊短腿的水手，双目失明的青年，为法警跑腿的老朽，宴会乞丐，舔盘子的，专扫人兴的，马屁精，撑着一把捡来的、净是窟窿的伞，坐在公园的长凳上，成为公众笑料的怪人。

Of Wall Street maxims the most foolish may be "You can't GO broke taking a profit."

在华尔街名言中，最可笑的莫过于是「赚钱的人是不会破产的

Of Wall Street maxim s the most foolish may be "You can't go broke taking a profit."

在华尔街名言中，最可笑的莫过于是「赚钱的人是不会破产的

How do the three rate their experience of buying from receivership?

他们三人如何评价自己收购破产管理企业的经验呢？

But by Monday morning, everyone's beliefs had already been retroactively revised; suddenly, Lehman's bankruptcy had been "inevitable."

但到周一早晨，每个人的想法都被"倒回去"修改过了。突然间，雷曼兄弟的破产"成了"不可避免的事。

According to the clear water experiment, aeration performance of the new equipment is good with high total oxygen transfer coefficient and oxygen utilization ratio.

曝气设备的动力效率在叶轮转速为120rpm～150rpm时取得最大值，此时氧利用率和充氧能力也具有较高值。

The environmental stability of that world - including its crushing pressures and icy darkness - means that some of its most famous inhabitants have survived for eons as evolutionary throwbacks, their bodies undergoing little change.

稳定的海底环境─包括能把人压扁的压力和冰冷的黑暗─意谓海底某些最知名的栖居生物已以演化返祖的样态活了万世，形体几无变化。