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[Report] SENEWS-2007-07-29 Report

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Homework

Now the VOA Special English Program Words and their Stories, there are many special terms in the word business. The following story is about a sweetheart deal which I made last week.

I made the deal with a friend, and we both made profit.

I had started a small company several months ago. I worked hard to make it successful. It was a sign making business; it was a small company not a blue chip company; it was not known nationally for the quality of its signs; it didn’t make a billion dollars in profit; and it was private, it was not a public company with shares treated on the stock market.

Still, I worked hard building up my business. I didn’t not work only a few hours each day, no banks hours for me, instead I spent many hours each day, seven days a week try to grow the company. I never cut callers or try to save expenses. I made many cold calls; I called on possible buyers from a list of people I have never seen. Such calls often hard sells; I had to be very firm.

Sometimes, I sold my signs at lost I didn’t money on my products. When this happened there will cut backs, I had to use few suppliers and reduce the number of works. But after several years, the company broke even. Profits were equal to expenses. And soon after, I began to gain ground. My signs were selling quickly; they were selling like heart cakes. I was happy, the company was moving forward and making real progress, it was in the black not in the red, the company was making money not loosing it.

My friend knew about my business, he is a leader in the signed making industry. A real big gun if you know what I mean. He offered to buy my company, my friend wanted to take it public, he wanted to sell shares in the company to the general public. My friend believed it was best to strike while the iron is hot; he wanted to take action at the best time possible and not wait.

He offered me a ballpark estimate at the amount he would pay to buy my company. But I knew his uneducated guess with low. My company was worth much more. He asked his bean counter to crunch the number that is he asked his accountant to take a close look at the finances of my company and decided how much it was worth. Then my friend increased his offer.

My friend’s official offer was finally giving to me in black and white. It was written on paper and more than I ever dreamed. I was finally able to get a break; I made a huge profit on my company; my friend also got a bank for the bark; he got a successful business for the he spent.

This VOA Special English Program Words and their Stories, was written by Joe Mars. I am Faith Lapidus.
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