董事会

Many thousands of investment-company boards meet annually to carry out the vital job of selecting who will manage the savings of the millions of owners they represent. Year after year the directors of Fund A select manager A, Fund B directors select manager B,etc.… in a zombie-like process that makes a mockery of stewardship. Very occasionally, a board will revolt. But for the most part, a monkey will type out a Shakespeare play before an "independent" mutual-fund director will suggest that his fund look at other managers, even if the incumbent manager has persistently delivered substandard performance. When they are handling their own money, of course, directors will look to alternative advisors – but it never enters their minds to do so when they are acting as fiduciaries for others.

成千上万的投资公司董事会每年都会聚会行使投资人赋予他们的重大责任-为其背后所代表的数百万投资人选择适当的人选来管理其身家财产，只是我们发现，年复一年董事会只不过是装出掌握控制权的表面假象，A基金公司永远选择A经理人、B基金公司也总是选择B经理人，其制式程序就像僵尸般食古不化，当然偶尔也会有董事会突锤，但大部分的时候，就算现任的基金经理人的表现有多差劲也一样视而不见，我想要等这些独立行使职务的董事愿意开始建议寻找其它合适的经理人人选，恐怕连猴子都有办法写出莎士比亚歌剧了，吊诡的是，当这些人在处理自己的资产时，只要发现苗头不对，他们肯定立刻见风转舵，另觅贤能，实在是无法理解当他们在受托帮他人管理资产时，为何脑筋偏偏就转不过来呢？

We will increase directorate member amount to 11 people, according to nomination of board of directors and the nomination that run committee, two people choose to enter a board of directors in the candidate that Yi Kan nominates.

我们将把董事会成员数量提高到11人，根据董事会提名和治理委员会的提名，在伊坎提名的候选人中选择两人进入董事会。

During the transition period, the purchasers are prohibited from re-electing the board of directors of the listed company upon the suggestion of the controlling shareholders in principle; in case there are sufficient reasons to re-elect the board of directors, the directors from the purchasers shall not exceed one third of the members of the board of directors.

二在过渡期间，收购人原则上不得通过控股股东提议改选上市公司董事会；确有充分理由改选董事会的，来自收购人的董事不得超过董事会三分之一。

At present Yi Kan is reelecting a board of directors on the plenary meeting of Yahoo year shareholder that seek will hold on August 1, put forward to include him himself inside candidate of 9 board of directorses, in order to achieve the goal of control board of directors.

现在伊坎正谋求在8月1日召开的雅虎年度股东大会上改选董事会，并提出了包括他自己在内的9名董事会候选人，以达到控制董事会的目的。

Including the Board of Trustees of the scale, the proportion of independent directors, the Board of Trustees of the Board of Trustees of the number of meetings and other shareholdings.

包括董事会规模、独立董事比例、董事会会议次数以及董事会持股情况等。

In respect to board\'s structure: There exist positive correlation between firm value and setting directorate specialty committee;negative correlation between firm value and board scale,separation of the chairman and general manager;but an inverted U-shaped relationship between firm value and the ratio of family- director.

在董事会结构方面：董事会专业委员会设置与企业价值正相关；董事会规模、董事长与总经理两职分离与企业价值存在负相关关系；而家族成员董事比例与企业价值之间呈倒U型关系。

Any ygeneralmeetingdeclaringadividendorbOnusmaydirectpayn1entofsuchdividend or bonus wholly or partly by the distribution of specific assets and in particular of Paid 一 up shares , debentures or debenture stock of any other company or in any one or more Of such ways and the directors shall give effect to such resolution , and where any difficulty arises in regard to such distribution , the directors may settle the same as they think expedient , and fix the value for distribution of such specific assets or any part thereof and may determine that cash payments shall be made to any members upon the footing of the value so fixed in order to adjust the rights of all parties , and may vest any such specific assets in trustees as may seem expedient to the directors .

一百零三、凡宣布股息或红利分配的股东大会都可作出决议，全部或部分用特定的资产和具体用缴足股本的股票、任何其他公司的债券或债券股，或其他任何一种或多种方式进行股息或红利的分配，董事会应实施此种决议，一旦分配遇到困难，董事会可用其认为恰当的方式予以解决，并确认用于分配的全部特定资产或其任何部分的价值，且可按所确认的价值确定分配给股东的现金，由此调整所有当事各方的权利，董事会还可将此种特定资产委托给其认为恰当的人托管。

Any general meeting declaring a dividend or bonus may direct payment of such dividend or bonus wholly or partly by the distribution of specific assets and in particular of paid － up shares , debentures or debenture stock of any other company or in any one or more of such ways and the directors shall give effect to such resolution , and where any difficulty arises in regard to such distribution , the directors may settle the same as they think expedient , and fix the value for distribution of such specific assets or any part thereof and may determine that cash payments shall be made to any members upon the footing of the value so fixed in order to adjust the rights of all parties , and may vest any such specific assets in trustees as may seem expedient to the directors .

一百零三、凡宣布股息或红利分配的股东大会都可作出决议，全部或部分用特定的资产和具体用缴足股本的股票、任何其他公司的债券或债券股、或其他任何一种或多种方式进行股息或红利的分配，董事会应实施此种决议，一旦分配遇到困难，董事会可用其认为恰当的方式予以解决，并确认用于分配的全部特定资产或其任何部分的价值，且可按所确认的价值确定分配给股东的现金，由此调整所有当事各方的权利，董事会还可将此种特定资产委托给其认为恰当的人托管。

Any general meeting declaring a dividend or bonus may direct payment of such dividend or bonus wholly or partly by the distribution of specific assets and in particular of paid－up shares,debentures or debenture stock of any other company or in any one or more of such ways and the directors shall give effect to such resolution,and where any difficulty arises in regard to such distribution,the directors may settle the same as they think expedient,and fix the value for distribution of such specific assets or any part thereof and may determine that cash payments shall be made to any members upon the footing of the value so fixed in order to adjust the rights of all parties,and may vest any such specific assets in trustees as may seem expedient to the directors.

一百零三、凡是发布股息或红利分配的股东大会都可作出决议，整个或部分用特定的资产和具体用缴足股本的股票、任何其他公司的债券或债券股、或其他任何一种或多种方式进行股息或红利的分配，董事会应实行此种决议，一夕分配碰到难题，董事会可用其认为恰当的方式予以系决，并确认用于分配的局部特定资产或其任何部分的价值，且可按所确认的价值肯定分配给股东的现金，由此调剂所有当事各方的权力，董事会借可将此种特定资产拜托给其认为恰当的人托管。

Any general meeting declaring a dividend or bonus may direct payment of such dividend or bonus wholly or partly by the distribution of specific assets and in particular of paid－up shares,debentures or debenture stock of any other company or in any one or more of such ways and the directors shall give effect to such resolution,and where any difficulty arises in regard to such distribution,the directors may settle the same as they think expedient,and fix the value for distribution of such specific assets or any part thereof and may determine that cash payments shall be made to any members upon the footing of the value so fixed in order to adjust the rights of all parties,and may vest any such specific assets in trustees as may seem expedient to the directors.

一百零三、凡是发布股息或白利分配的股东大会都可作出决议，局部或部分用特定的资产和详细用缴脚股本的股票、任何其他公司的债券或债券股、或其他任何一种或少种方法入行股息或白利的分配，董事会应实行此种决议，一夕分配碰到难题，董事会可用其认为恰当的圆式予以系决，并确认用于分配的整个特定资产或其任何部分的价值，且可按所确认的价值肯定分配给股东的隐金，由此调剂所有当事各方的权力，董事会还可将此种特定资产拜托给其认为恰当的人托管。

Neither the killing of Mr Zarqawi nor any breakthrough on the political front will stop the insurgency and the fratricidal murders in their tracks.

在对危险的南部地区访问时，他斥责什叶派民兵领导人对中央集权的挑衅行为。

In fact,I've got him on the satellite mobile right now.

实际上 我们已接通卫星可视电话了