题目内容
Which of the following has happened since the invention of the Internet and e-mail？
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Part A
Directions: Read the following four texts. Answer the questions below each text by choosing A, B, C or D. (40 points)
The California Public Employees' Retirement System (CalPERS) has positioned itself as the premier champion of investor rights, regularly singling out bad managers at some of the nation's largest companies in its annual corporate-governance focus lists. And with $153 billion under management, Wall Street tends to listen when CalPERS speaks out. But the country's largest pension fund has never taken on as big a fish as it did Dec. 16, when it filed a class action against the New York Stock Exchange and seven of its member firms. CalPERS' suit charges the NYSE and specialist firms with fraud, alleging that the exchange skirted its regulatory duties and allowed its members to trade stocks at the expense of investors.
The move is a major slap in the face for the NYSE's recently appointed interim Chairman John Reed. The former Citibank chairman and CEO came on board in September after the exchange's longtime head, Richard Grasso, resigned under pressure over public outrage about his excessive compensation.
Reed has been widely criticized by CalPERS and other institutional investors for not including representatives of investors on the exchange's newly constituted board and not clearly separating the exchange's regulatory function from its day-to-day operations. The CalPERS lawsuit is evidence that the investment communities' dissatisfaction hasn't ebbed. "Our hopes were dashed when Mr. Reed didn't perform", says Harrigan.
The suit alleges that seven specialist firms profited by abusing and overusing a series of trading tactics. The tactics, which are not currently illegal, include "penny lumping', where a firm positions itself between two orders to capture a piece of the price differential, "front running", which involves trading in advance of customers based on confidential information obtained by their orders, and "freezing" the firm's order book so that the firm can make trades on its own account first.
Many of the suit's allegations are based on a previously disclosed investigation of the exchange conducted by the Securities & Exchange Commission. According to the suit, the October SEC report found "serious deficiencies in the NYSE's surveillance and investigative procedures, including a habit of ignoring repeat violations By specialist firms".
The suit highlights the growing frustration that institutional investors have expressed with what they perceive as a system that needs to be revamped—if not eliminated. According to California State Comptroller Steve Westley, a CalPERS board member who participated in the Dec. 16 press conference, he has repeatedly called on the NYSE to end its use of specialist firms to facilitate trades and move to a system of openly matching of buyers and sellers. BLIND EYE？ "There's no reason not to move to a fully automated exchange", Westley says. "Every exchange in the world is using such a system. The time is now for the NYSE to move into the 21st century and remove the cloud that there's self-dealing working against investors".
What does the word "a fish" (Para. 1) probably refer to？
Teachers always tell their students that it is no good ______ today's work for tomorrow.
听力原文： Like Malaysia, Indonesia is a traditional honor-oriented society. There is strong in-group loyalty including family, friends, and members of the same ethnic group. This is the basis for widespread favoritism in the economy.
Indonesians value large families, with extended families living together and supporting one another. However, increasing urbanization and the need to move to find employment is breaking up this interdependence and extended family living.
Harmony and respect characterize the relations among people, Conflict is avoided as values and behavior. in all aspects of life are directed towards smooth relations with others. People of low ranks do not make decisions; there is a wait-and-see attitude until senior managers reveal what the decision is.
The best time of year to schedule business trips to Indonesia is between February and June, and again between September and early December. July and August axe vacation months for Indonesians who can afford to travel.
Both Malay and Chinese Indonesians respect age, status and position. You should be equally sensitive to those factors at meetings and in social engagements associated with business. Defer to older people by standing when they enter and letting them sit down first. If a meeting involves a very senior Indonesian, it is respectful that your organization has a very senior person available to attend.
You should be punctual at all time even though your Indonesian counterparts may not be Indonesians generally shake hands all round and give a slight bow of the head. You should do the same. They smile a lot, but this does not necessarily have a positive meaning.
What breaks up Indonesians' extended family living？
A．BecauseB．HenceC．AndD．But
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