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1. Ruth Simmons joined Goldman Sachs’s board as an outside director in January 2000; a year later she became president of Brown University.
词汇
join [dʒɔɪn] v. 参加；连接；汇合
board [bɔːd] n. 董事会；板；膳食
outside [ˌaʊtˑsaɪd] a. 不属于本团体的；外部的
director [dəˑrektə(r)] n. 董事；负责人；导演
January [ˑdʒænjʊəri] n. 一月
later [ˑleɪtə(r)] ad. 以后；后来；随后
president [ˑprezɪdənt] n. 大学校长；总统；负责人
2. For the rest of the decade she apparently managed both roles without attracting much criticism.
词汇
the rest of ……的剩余部分
decade [ˑdekeɪd] n. 十年，十年期
apparently [əˑpærəntli] ad. 显然；似乎；据说
manage [ˑmænɪdʒ] v. 勉力完成；管理；应付
attract [əˑtrækt] v. 引起；吸引；招引
criticism [ˑkrɪtɪsɪzəm] n. 批评，指责；评论
3. But by the end of 2009 Ms. Simmons was under fire for having sat on Goldman’s compensation committee; how could she have let those enormous bonus payouts pass unremarked?
词汇
by the end of 到……结束时
fire [ˑfaɪə(r)] n. 猛烈的批评；火；火灾
be under fire 受到严厉批评；遭到猛烈批判
sit on 在……中占有席位，成为……的一员
compensation [ˌkɒmpenˑseɪʃ(ə)n] n. 薪水；补偿金；补偿
committee [kəˑmɪti] n. 委员会
enormous [ɪˑnɔːməs] a. 巨大的；极大的
bonus [ˑbəʊnəs] n. 奖金；意外收获
payout [ˑpeɪaʊt] n. 支出；付出的巨款
pass [pɑːs] v. 通过；传递；批准
unremarked [ˌʌnrɪˑmɑːkt] a. 未被注意的
4. By February the next year Ms. Simmons had left the board.
词汇
leave [liːv] v. 让……处于；离开；留下（过去式 / 过去分词： left ）
February [ˑfebruəri] n. 二月
5. The position was just taking up too much time, she said.
词汇
position [pəˑzɪʃn] n. 职位；位置；立场
just [dʒʌst] ad. 确实；仅仅；正好
take up 占用（时间）；占据（空间）
6. Outside directors are supposed to serve as helpful, yet less biased, advisers on a firm’s board.
词汇
be supposed to do sth. 应该做某事；被期望做某事
serve [sɜːv] v. 起……作用；提供；服务
helpful [ˑhelpfl] a. 有帮助的；愿意帮忙的
biased [ˑbaɪəst] a. 有偏见的；偏重……的
adviser [ədˑvaɪzə(r)] n. 顾问；提供意见者
firm [fɜːm] n. 公司，商行
7. Having made their wealth and their reputations elsewhere, they presumably have enough independence to disagree with the chief executive’s proposals.
词汇
wealth [welθ] n. 财富；富有；丰富
reputation [ˌrepjuˑteɪʃ(ə)n] n. 名誉，名声
elsewhere [ˌelsˑweə(r)] ad. 在别处；到别处
presumably [prɪˑzjuːməbli] ad. 很可能；大概；想必是
enough [ɪˑnʌf] a. 充足的，足够的
independence [ˌɪndɪˑpendəns] n. 独立；自主
disagree with 不赞成；反对
chief executive 首席执行官
proposal [prəˑpəʊzl] n. 提议，建议；求婚
8. If the sky, and the share price, is falling, outside directors should be able to give advice based on having weathered their own crises.
词汇
share [ʃeə(r)] n. 股票；责任；份额
fall [fɔːl] v. 下跌，减少；落下
be able to do sth. 能够做某事
advice [ədˑvaɪs] n. 忠告；建议
based on 基于，以……为基础
weather [ˑweðə(r)] v. 经受住，平安地渡过（困难）
crisis [ˑkraɪsɪs] n. 危机；危急关头（复数形式为： crises ）
9. The researchers from Ohio University used a database that covered more than 10,000 firms and more than 64,000 different directors between 1989 and 2004.
词汇
researcher [rɪˑsɜːtʃə(r)] n. 研究人员
Ohio University 俄亥俄大学
use [juːz] v. 使用；利用；消耗
database [ˑdeɪtəbeɪs] n. 数据库
cover [ˑkʌvə(r)] v. 包括；报道；覆盖
more than 超过；不仅仅；非常
10. Then they simply checked which directors stayed from one proxy statement to the next.
词汇
simply [ˑsɪmpli] ad. 仅仅；简单地；确实地
check [tʃek] v. 检查；控制；寄放
stay [steɪ] v. 待；逗留；保持
proxy [ˑprɒksi] n. 投票委托书；代理权；代理人
statement [ˑsteɪtmənt] n. 声明；说法；清单
11. The most likely reason for departing a board was age, so the researchers concentrated on those“surprise”disappearances by directors under the age of 70.
词汇
likely [ˑlaɪkli] a. 可能的；似乎合适的
depart [dɪˑpɑːt] v. 离职；启程；违背
concentrate on 专注于
surprise [səˑpraɪz] n. 意想不到的事；惊讶
disappearance [ˌdɪsəˑpɪərəns] n. 消失；消亡
director [dəˑrektə(r)] n. 董事；负责人；导演
12. They found that after a surprise departure, the probability that the company will subsequently have to restate earnings increases by nearly 20%.
词汇
departure [dɪˑpɑːtʃə(r)] n. 离开；背离
probability [ˌprɒbəˑbɪləti] n. 可能性；概率
company [kʌmpəni] n. 公司；陪伴
subsequently [ˑsʌbsɪkwəntli] ad. 随后；后来
restate [ˌriːˑsteɪt] v. 重申；重新表述
earnings [ˑɜːnɪŋz] n. [ pl. ] 收益；薪水
increase [ɪnˑkriːs] v. （使）增长；增加
nearly [ˑnɪəli] ad. 几乎；差不多；将近
13. The likelihood of being named in a federal class-action lawsuit also increases, and the stock is likely to perform worse.
词汇
likelihood [ˑlaɪklihʊd] n. 可能；可能性
name [neɪm] v. 说出……的名称；任命；命名
federal [ˑfedərəl] a. 联邦制的；联邦政府的
class-action lawsuit 集体诉讼
stock [stɒk] n. 股票；库存
perform [pəˑfɔːm] v. 工作；演出；执行
badly [ˑbædli] ad. 糟糕地；严重地；非常 （ 比较级： worse ；最高级： worst）
14. The effect tended to be larger for larger firms.
词汇
effect [ɪˑfekt] n. 影响；效果
tend to be 倾向于……，往往……
firm [fɜːm] n. 公司，商行
15. Although a correlation between them leaving and subsequent bad performance at the firm is suggestive, it does not mean that such directors are always jumping off a sinking ship.
词汇
although [ɔːlˑðəʊ] conj. 尽管；但是
correlation [ˌkɒrəˑleɪʃ(ə)n] n. 相互关系；关联
leave [liːv] v. 让……处于；离开；留下 ( 过去式 / 过去分词： left)
subsequent [ˑsʌbsɪkwənt] a. 随后的；后来的
performance [pəˑfɔːməns] n. 表现；演出；执行
suggestive [səˑdʒestɪv] a. 使人想起……的；引起联想的
mean [miːn] v. 意味着；打算；意思是
jump off 跳离；跳下
sink [sɪŋk] v. 下沉；降低；使受挫
ship [ʃɪp] n. 船
16. Often they“trade up”, leaving riskier, smaller firms for larger and more stable firms.
词汇
trade up 卖次买好；折价贴换
risky [ˑrɪski] a. 有危险（或风险）的
stable [ˑsteɪbl] a. 稳定的；稳重的
17. But the researchers believe that outside directors have an easier time of avoiding a blow to their reputations if they leave a firm before bad news breaks, even if a review of history shows they were on the board at the time any wrongdoing occurred.
词汇
time [taɪm] n. 时间；时期；次
avoid [əˑvɔɪd] v. 回避，避开；避免
blow [bləʊ] n. 打击；猛击
reputation [ˌrepjuˑteɪʃ(ə)n] n. 名誉，名声
break [breɪk] v. 传开；打断；背弃
even if 即使；尽管
review [rɪˑvjuː] n. 回顾；检查；评论
history [ˑhɪstri] n. 历史；履历
board [bɔːd] n. 董事会；板；膳食
wrongdoing [ˑrɒŋduːɪŋ] n. 不法行为；坏事
occur [əˑkɜː(r)] v. 发生；出现；产生
18. Firms who want to keep their outside directors through tough times may have to create incentives.
词汇
through [θruː] prep. 自始至终；贯穿；凭借
tough [tʌf] a. 艰难的；坚固的；严厉的
create [kriˑeɪt] v. 创造；造成
incentive [ɪnˑsentɪv] n. 激励，刺激
19. Otherwise outside directors will follow the example of Ms. Simmons, once again very popular on campus.
词汇
otherwise [ˑʌðəwaɪz] ad. 否则；除此以外
follow [ˑfɒləʊ] v. 仿效；跟随；遵循
example [ɪɡˑzɑːmpl] n. 榜样；例证；样品
once again 再一次；再次
popular [ˑpɒpjələ(r)] a. 受欢迎的；大众化的；流行的
campus [ˑkæmpəs] n. 校园