很多套利者被套牢的高价股票达到1.5亿美元，很多公司因此倒闭。

The drivers took a 22% pay cut in 1987 when Greyhound officers acquired the company in a leveraged buyout and slashed costs to restore profits.

1987年，当灰狗现在的老板以杠杆收购公司时，对司机减薪22%，并且撙节开支，以求恢复获利。

reorganization

重组

Macy is in bankruptcy,

梅西百货公司已经破产，

and Federated hopes to convert the debt holdings into control of Macy by crafting a yet undisclosed reorganization plan.

而Federated希望借由正在策划但尚未公布的重组计划，将负债的持股转变成对梅西的控制权。

As part of a reorganization plan that should enable the battered carrier to emerge from Chapter 11 bankruptcy protection early next year,Icahn agreed to provide $615 million in cash,loans and pension-fund guarantees.

Icahn同意提供6.15亿美元现金、贷款及退休保证金，作为重组这家饱受打击的航空公司的计划中的一部分，让它能自明年起脱离第11章的破产保护。

stock option

认股权

To hear Silicon Graphics president Edward McCracken tell it,taking away the executive’s most prized form of compensation-stock option-

依照硅图公司总经理Edward McCracken的说法，取消高级主管最丰厚的俸禄——认股权——

would be nothing less than a disaster for American business.

对美国企业而言将会是一场大灾难。

Pepsi Co.now offers a special stock option plan to all its 100,000 full-time employees,

百事可乐公司目前对它10万名全职员工提供一个特别的认股权计划。

from senior managers to Frito-Lay truck drivers and Taco Bell chefs.

从资深经理到Frito-Lay土豆片的卡车司机，和Taco Bell墨西哥速食的大厨师，都可以享有认股权。

tender offer

投标报价

Within three hours of the decision,Time carried out its tender offer to pay $70 a share for 100 million of the more than 180 million Warner shares outstanding.

在决策完成后3小时之内，时代就执行它的投标报价工作，买下华纳超过1.8亿在外流通股票中的1亿股，每股价格70美元。