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来源:平安活动    发布时间:2019年10月22日 13:19:04    编辑:admin         

Today on Congressional Moment On July 7th, 1919, the U.S. Army assembled 81 motorized vehicles and 288 men in Washington, D.C. 1919.7.7国会时刻的今天,美国陆军在华盛顿特区集合了81辆机动车辆和288人。Their mission: to drive across the country. 他们的任务是:开车穿越这个国家。This transcontinental convoy dealt with all the poor driving conditions of the time.... incomplete or non-existent roads of dirt or sand, unsturdy bridges, and treacherous conditions from bad weather. 这横贯大陆的车队忍受了那段时间所有开车的恶劣条件。。。驾驶环境的不完整,根本不存在的泥沙路,晃晃悠悠的桥以及恶劣天气所带来的危险因素。They arrived in San Francisco 62 days later, averaging a cross-country speed of 5 miles an hour. 62天之后他们到达了旧金山,每小时平均穿越一个国家。One volunteer observer on the arduous journey was a 29 year-old soldier named Dwight Eisenhower. 这趟艰辛旅途的自愿观察者是一个叫Dwight Eisenhower的29岁士兵。Twenty years later, the Bureau of Public Roads had identified to Congress the need for a national road system to improve connections between cities and states. 20年之后,公共道路局已向国会实确实需要国家公路系统来改善城市和州之间的联系。After World War II, Congress was able to fully address this massive undertaking. There were many concerns: states wanted assurance that the government would pay its fair share of construction costs. 二战之后,国会全力解决这个艰巨的任务。但还是存在很多担忧:各州想得到保,政府愿意付建筑费用的合理份额。Rural residents thought the new highways might limit access to small communities. 乡下居民认为新的高速路会限制接触小社区的机会。In 1953, Dwight Eisenhower became President. Three years later, with construction and financing approved, the Federal-Aid Highway Act of 1956 was signed into law. 1953年,Dwight Eisenhower当选为总统。三年之后随着建设和融资的批准,1956年的《联邦助建高速公路法》法案签署成为法律。Creating over 35,000 miles of roadway, the Interstate Highway System was completed in 1975. 建造超过35000英里的道路,1975年完成州际高速公路系统的建造。原文译文属!201307/248111。

Business商业报道Schumpeter熊彼得The Omidyar way of giving奥米迪亚式的给予The founder of eBay aims to be a more entrepreneurial philanthropist than his predecessors.这位eBay的创始人想要成为比他的前辈们更成功的创业慈善家。THE billionaires dilemma:这是一个亿万富翁的艰难选择:spend 250m on buying the venerable Washington Post, or splash the cash on a start-up news network to be headed by a controversial investigative journalist with no experience of running anything?花费25, 000万美元买下可敬的《华盛顿邮报》,还是把砸在一个刚刚起步的网络新闻公司上?而且这家公司的领头人只是一个毫无管理经验而且备受争议的调查记者。It is entirely in character that Pierre Omidyar chose the second option, bankrolling the new journalism venture of Glenn Greenwald, best known for his reporting on the National Security Agency.奥米迪亚当然是选择了后者,为以报道国家安全局而出名的Glenn Greenwald的新型新闻事业提供资金。Mr Omidyar did not become a billionaire at the age of 31 by fixing an established institution, but by building eBay from scratch into a worldwide online marketplace.奥米迪亚能在31岁的年龄就成为一个亿万富翁,是通过白手起家将eBay打造为一个涵盖全球的购物网站,而非改组一个已经建立的机构。And fostering innovative start-ups with an ambition to improve the world has been the focus of his philanthropy since he gave up his executive role at eBay while still in his 30s.也正是这个原因,使得他在30多岁放弃了eBay执行官的角色后,就把帮助那些想要促进世界的革新创业者作为了自己慈善事业的核心。Mr Omidyar, who is now 46, has aly deployed 1 billion of his fortune to this end, which puts his 250m media investment into perspective: a big bet, but not that big.现年46岁的奥米迪亚已经将自己财产中的10亿美元用于该方面,借此我们可以正确地理解为何他会向媒体业投入这25, 000万美元:算是一次豪赌,却也并不离谱。His wealth—still around 8.5 billion—is not the only reason why any venture by Mr Omidyar should be taken seriously.我们关注奥米迪亚的原因可不仅仅是他仍然高达85亿美元的巨额财产。Both at eBay and in his charitable schemes he has demonstrated an ability to turn a promising but vague idea into something concrete and substantial.不管是在eBay还是在他的慈善事业上,奥米迪亚都展现出一种将有前景却很模糊的想法转变为具体而详实的计划的能力。And the evolution of his philanthropy is a case study with lessons for other entrepreneurs seeking to become benefactors.他在慈善事业上的创新也可以为那些需要帮助的创业者们提供不少经验。In his first few years as a big giver, Mr Omidyar went from embracing the conventional wisdom to challenging it.在开始几年大量投资以后,奥米迪亚对于传统观念从开始的全盘接受转变为了审视挑战。From the days of Carnegie and Rockefeller a century ago to Bill Gates today, the American tradition has been for the rich to give a large chunk of their fortune to a foundation, usually carrying their name, which then doles out chunks of money to charities it likes.从百年前的卡耐基和洛克菲勒到如今的比尔盖茨,富人们都习惯于将财产的大部分捐献给基金会。然后这个通常以捐赠者名字命名的基金会再将这些资金分配给合适的慈善机构。Mr Omidyar started out doing that, but quickly concluded that handing out grants was not the most effective use of his money.一开始奥米迪亚也是这么做的,但马上就发现这种单纯给予的方式并不能最有效地发挥资金的价值。His experience at eBay led him to conclude that in the right circumstances a business can be at least as powerful a force for good as a charity.他在eBay的经历让他意识到,在合适的情况下,商业行为也能和慈善活动一样,有着造福社会的能力。By creating a ily accessible global marketplace,eBay had given hundreds of thousands of people the chance to improve their lives by becoming online entrepreneurs.eBay就通过建立一个全球参与的网上商城使得几十万人可以通过网上创业来改善生活。So in 2004 Mr Omidyar replaced his foundation with a new organisation, Omidyar Network, which sees itself as an active investor, not a passive donor, and is free to put money equally into for-profit and non-profit ventures.因此,奥米迪亚在2004年将他的基金会改组成了奥米迪亚网络公司。公司的定位是一个主动的投资公司,而不是一个被动的捐赠者,同时也能自由地将资金用于盈利或者非盈利的创业行为。Almost half of the 300 or so outfits it has backed aimed to make money—though Mr Omidyar has said that any profits will be recycled, with none going back to him.在它所资助的将近300企业中,将近一半以盈利为目的的,虽然奥米迪亚曾表示这些盈利将会重新用于投资,而不是回到他本人手中。The networks early years were a mess, with the sort of frequent strategy changes and staff turnover that are common among foundations.早期,这家网络公司因为频繁的策略调整和人事变动而一团糟糕。但这种情况在基金会中也相当普遍。Things have got better since 2007, when Mr Omidyar brought in Matt Bannick, a former head of eBays international operations, to run the network.2007年,奥米迪亚让前eBay国际运营主管Matt Bannick接受公司,此后情况开始好转。He has focused it on five main themes: financial inclusion, consumer internet and mobile telecoms, education, property rights and open government.Matt Bannick将公司的业务集中到了5大领域:金融包容,消费互联网和移动电信,教育,财产权利和开明政府。With the non-profits it backs, ranging from Kiva, a microfinance website, to the Sunlight Foundation, which promotes open government, Omidyar Network practises venture philanthropy—developing a non-profit start-up in the same way as a new business venture, except for not expecting it to make money one day.奥米迪亚网络公司采取了一种慈善新模式来资助从小型融资网站Kiva到提高政府透明度的阳光基金会那样的非盈利组织,即用和创业公司同样的模式去建设,只是不期望它们挣钱。Typically, foundations have given funds for a specific project rather than to build the capabilities of the charity itself, which makes it hard for the charity to hire and retain talented people.传统的基金会将资金给予特定的项目而非慈善机构,这也就阻碍了慈善机构吸引和雇佣人才。In contrast, the network not only provides money for its charities general budget, it has a human-resources department that helps them find good staff.与此相反,奥米迪亚网络公司除了向慈善组织的整体财政提供资金持外,还有一个为它们寻找雇员的人力资源部门。This service seems to be universally appreciated by the charities Mr Omidyar backs, some of which say it is more valuable than the money they get.这项务受到奥米迪亚资助的那些慈善机构的广泛推崇,其中一些机构甚至认为这比资金援助有价值的多。Although there are several other successful venture-philanthropy organisations, such as New Profit Inc, none comes close to the scale of Omidyar Network, which makes it the crucial test case for the idea.虽然此外还有一些成功的创业慈善机构,比如New Profit Inc,但它们都没有达到奥米迪亚网络公司的规模,也因此该公司是这种模式最重要的试金石。The moneymaking counterpart to venture philanthropy is impact investing: aiming to turn a profit while doing some social or environmental good.还有一种和创业慈善极其类似的盈利行为称为影响力投资:以创造利润的同时努力使社会和环境收益为目标。But Mr Omidyar thinks most so-called impact investors are being too risk-averse.但是奥米迪亚认为大多数的所谓影响力投资不愿承受风险。He has concentrated on trying to build viable businesses that sell to the very poorest consumers, where costs must be pared to the bone.他一直致力于为极端贫困地区提供交易渠道,在那些地区费用要消减到最低程度。Some of these aly look promising.他的一些努力已经得到了回报。D.light, a provider of cheap lamps that absorb solar energy during the day and dispense light at night, in place of dangerous and toxic kerosene lamps, is now shipping 500,000 units a month, in India and Africa.灯泡供应商D.light希望用一种在白天吸收太阳能而在晚间释放灯光的廉价灯泡替代危险且有毒的煤油灯。如今它在印度和非洲的销售额已经达到了每月50万。Bridge International Academies now has 200 schools providing poor children in Kenya with a decent education for 5 a month.公司Bridge International Academies现在在肯迪亚有着200所学校以每月5美元的收费为贫困儿童提供初等教育。MicroEnsure, a firm that gets mobile-phone companies to provide free life-assurance as an incentive for loyal subscribers, now serves over 4.5m people in Africa and Asia, up from 600,000 in 2010.一家推动手机公司以免费安全保险来刺激订阅务的公司MicroEnsure正为亚洲和非洲超过450万人口提供务,而在2010年时这个数字只有60万。Big enough to make a difference足够影响世界To be judged a success, Omidyar Network will need some of these promising start-ups to grow far bigger.想要获得公众的认可,奥米迪亚网络公司还需要这些前景美好的新公司们的规模进一步扩大。To encourage this, it is seeking ways to co-ordinate its investments in for-profits and non-profits so as to accelerate the growth of an entire sector.为了达到这个目标,该公司正积极努力地平衡在盈利和非盈利组织的投资以加速整个行业得到发展。So far it has succeeded only, to some extent, in microfinance, where it has invested in for-profit lenders and in non-profits that provide the ecosystem for the market, such as credit bureaus and consumer-information services, for which there was no viable commercial model.目前,它只在小型融资业上获得了一定程度的成功。在这一领域,它同时投资了盈利性的借贷方和非盈利性的供贷方,如征信所和消费信息务机构,为市场营造了一种前所未有的生态系统。Can Mr Omidyar do the same in education? Or health? Or indeed journalism?奥米迪亚能在教育业也做的同样出色吗?那么医疗业呢?当然还有新闻业呢?His media venture is in a similar spirit to his other projects, seeking a new business model for the investigative journalism that he sees as a crucial underpinning of democracy.他涉足新闻业的初衷和开展其他计划相同,都是为了给投资新闻业寻找到新的商业模式。他也把新闻业看做民主的基石。Years more of work will be needed before it is clear whether his mix of impact investing and venture philanthropy can deliver social change on the scale Mr Omidyar dreams of.奥米迪亚这种影响力投资和创业慈善相结合的模式想要给社会带来如他预想的那么大规模的变化还需要很长时间的努力。 /201310/262803。

Business商业报道Broadcasting in Australia澳大利亚广播业The news on Nine九公司近况A networks IPO shows investors are nervous about broadcasters prospects这家网络公司的IPO显示出投资者们对于广播公司前景的担忧。DAVID GYNGELLS first child was born the night after he helped to arrange a recapitalisation of Nine Entertainment.David Gyngell的第一个孩子正好出生在他协助安排的Nine Entertainment资本重整的隔天晚上。The deal saved Australias second most popular free-to-air television network from administration.这笔交易拯救了澳大利亚第二大免费直播电视广播公司免于重组。A year on, Nines chief executive is about to see his corporate baby toddle onto the stock exchange.一年之后,这位九的首席执行官将要看着他的公司婴儿蹒跚着走向股票市场。Nine is due to re-list on December 6th with an expected market capitalisation of about A billion.九将在12月6日得到大约20亿澳元的市场融资。Nines controlling shareholders, Oaktree Capital Management and Apollo Global Management, two American hedge funds, will reduce their combined stakes from 53% to 36%.九的控股股东,两家美国的对冲基金橡树资本管理公司和阿波罗全球管理公司一共持有的股份将从53%减少到36%。They are taking advantage of a rising equity market, of Nines rising ratings and of its growing share of the metropolitan free-to-air advertising market.他们打算好好利用资本市场的上升势头,也是好好利用第九不断上升的评级和它不断上升的大城市地区广告市场占有率。The share issue, however, is not being underwritten by its joint lead managers—two global banks, UBS and Morgan Stanley, and two local ones, Commonwealth and Macquarie.然而这次发售股份却不被他的共同管理公司—UBS和根斯坦利两大国际以及Commonwealth和Macquarie两大本国所认可。This suggests that some investors may be wary about backing a free-to-air broadcaster when digital advertising is growing apace and the government is rolling out a national broadband network.这说明,在电子广告业稳步发展而且政府正在全国推广宽带网络之时,投资者们在投资一家免费收视的广播公司时会小心谨慎一些。The free float will be limited to one-third of the new shares.公众持股量将会被限制在新发行股票的三分之一以内。Nine has endured as much drama as an episode of Hostages.九曲折离奇的经历如同《人质》中一样。Late last year the broadcaster was facing bankruptcy until a proposal by Oaktree and Apollo to convert its more than A billion of debt into equity was finally accepted by other lenders.去年下半年,这家广播公司曾濒临破产。直到橡树和阿波罗把30亿澳元的债务转变为股权的提议被其他借贷方接受后,这次危机才化解。The hedge funds then took control of Nine from CVC, a private-equity group which had bought the company for A.6 billion in stages between 2006 and 2008, at the height of the bull market.两家对冲基金接着又从CVC手中接过了九的控制权。CVC是一家私募投资集团,于2006至2008年,也就是牛市顶峰时,分阶段以56亿澳元买下了这个公司。CVC had in turn purchased Nine from James Packer, whose father, Kerry, controlled the network until his death in 2005.CVC则是从James Packer,2005年去世前一直掌管公司的Kerry之子手中买下的九。James Packer wanted to redeploy the familys wealth from media into casinos.James Packer当时想把家族的资金从媒体业转投业。Earlier this year Nine bought stations in Adelaide and Perth from WIN, another broadcaster.今年早些时候,九从另一家广播公司WIN买下了阿德莱德和珀斯的广播频道。With these and its existing operations in Brisbane, Melbourne and Sydney, Nine has a national metropolitan network for the first time.这两个频道,再加上它已有的在布里斯班,墨尔本和悉尼的运营部门。Nines share of the metropolitan broadcast-advertising market has risen to within three percentage points of that of Seven Network, the leader, if Nines newly acquired stations are included.九第一次建立了一个全国性的大都市广播网络。如果加上新近得到的广播频道九在主要城市电视广告市场占有的份额和行业领头羊七广播公司的差距已经不到3个百分点。Third-placed Ten, chaired by Lachlan Murdoch, has been struggling. By investing in Adelaide and Perth, Nine hopes to push up its ratings and advertising revenues by even more.Lachlan Murdoch领导的位于第三位的十公司则业绩惨淡。九希望能通过投资阿德莱德和珀斯进一步提高它的评级和广告盈利。However, Nine remains exposed to the ad cycle.然而,九容易受到广告周期的影响。Four-fifths of the groups revenue comes from television.该集团五分之四的盈利来自于电视业和企业活动。Digital media and events businesses bring in the rest.其余部分来自于电子媒体和商业。Moreover, online advertising is expected to overtake free-to-air TV as the leading ad category in Australia this year.此外,在线广告被认为将会在今年内取代免费电视成为澳大利亚的主要广告类型。For Mr Gyngell, Nine is a family affair.对于Gyngekk来说,九好像是家庭成员一样。His wife is a presenter and his late father, Bruce, was an executive there under Kerry Packer.他的妻子是一位主持人,而他的继父Bruce则曾在Kerry Packer时代任职执行官。Mr Gyngell may have ensured its survival for another generation.Gyngell希望能使公司继续存活,并传给下一代。 /201312/267324。