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(1). 1:It may be wise to double down this way.
2:However much risk-averse investors may prefer share buy-backs to ambitious capital-spending plans, halting investment could be seen as a flag of surrender by the likes of Amazon.
3:That said, FedEx’s failures—to respond more quickly to the changing e-commerce landscape, to read the runes of geopolitics and to end its stubborn refusal to join its two businesses—reflect a company whose management is long in the tooth.
4:Including Mr Smith, FedEx’s ten top executives average more than three decades at the firm, which is extraordinary.
2:However much risk-averse investors may prefer share buy-backs to ambitious capital-spending plans, halting investment could be seen as a flag of surrender by the likes of Amazon.
3:That said, FedEx’s failures—to respond more quickly to the changing e-commerce landscape, to read the runes of geopolitics and to end its stubborn refusal to join its two businesses—reflect a company whose management is long in the tooth.
4:Including Mr Smith, FedEx’s ten top executives average more than three decades at the firm, which is extraordinary.
1:这样加倍投资也许是明智的。
2:尽管厌恶风险的投资者可能更喜欢股票回购，而不是雄心勃勃的资本支出计划，但停止投资可能被亚马逊等公司视为投降的信号。
3:即便如此，联邦快递的失败——对不断变化的电子商务环境做出更快的反应，阅读地缘政治的符文，结束顽固地拒绝加入两家公司——反映出这家公司的管理层年事已高。
4:包括史密斯在内，联邦快递的十位高管平均在该公司工作了30多年，这是非同寻常的。
2:尽管厌恶风险的投资者可能更喜欢股票回购，而不是雄心勃勃的资本支出计划，但停止投资可能被亚马逊等公司视为投降的信号。
3:即便如此，联邦快递的失败——对不断变化的电子商务环境做出更快的反应，阅读地缘政治的符文，结束顽固地拒绝加入两家公司——反映出这家公司的管理层年事已高。
4:包括史密斯在内，联邦快递的十位高管平均在该公司工作了30多年，这是非同寻常的。
(2). 1:It is hard not to misread the changing rules of business when you once rewrote them—even harder when some of your oldest friends are your sounding board.
2:It is clear that the directors have no stomach for replacing their chairman in the foreseeable future.
3:But unless Mr Smith brings in fresh executives, and then listens to them, his days at the business blackjack table should be numbered.
4:Think FredExit, in other words.
2:It is clear that the directors have no stomach for replacing their chairman in the foreseeable future.
3:But unless Mr Smith brings in fresh executives, and then listens to them, his days at the business blackjack table should be numbered.
4:Think FredExit, in other words.
1:一旦你重写了不断变化的商业规则，你很难不误读它们——如果你的一些老朋友是你的参谋，那就更难了。
2:很明显，董事们无意在可预见的将来更换董事长。
3:但除非史密斯引入新的高管，然后听取他们的意见，否则他在企业21点桌上的日子应该屈指可数了。
4:换句话说，想想联邦快递。
2:很明显，董事们无意在可预见的将来更换董事长。
3:但除非史密斯引入新的高管，然后听取他们的意见，否则他在企业21点桌上的日子应该屈指可数了。
4:换句话说，想想联邦快递。
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