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Companieshaveembarkedonwhatlookslikethebeginningsofare-runofthemergersandacquisitionsM&Awavethatdefinedthesecondbubblyhalfofthe1990s.Thatperiodreadersmightrecallwascharacterizedbyacollectivesplurgethatsawthecreationofsomeofthemostindebtedcompaniesinhistorymanyofwhichlaterwentbankruptorwerethemselvesbrokenup.WildbiddingfortelecomsinternetandmediaassetsnottomentionthemadnessthatwasDaimler’s$40billionmotoringtakeoverin1998-1999ofChryslerortheTime-Warner/AOLmega-mergerin2000helpedtogivemergersathoroughlybadname.AconsensusemergedthatM&Awasagreatwayforinvestmentbankstoreaprichfeesandasurewayforambitiousmanagerstobetrayinvestorsbytrashingthevalueoftheirshares. NowM&Aisback.ItsreturnisaglobalphenomenonbutitisperhapsmoststrikinginEuropewheresofarthisyeartherehasbeenastreamofdealsworthmorethan$600billionintotalaround40%higherthaninthesameperiodof2004.ThelatesteffortcamethisweekwhenFrance’sSaint-Gobainabuilding-materialsfirmunveiledthedetailsofits￡3.6billion$6.5billionhostilebidforBPBaBritishrival.Inthefirsthalfoftheyearcross-borderactivitywasupthreefoldoverthesameperiodlastyear.EvenFranceTelecomwhichwasleftalmostbankruptattheendofthelastmergerwaverecentlyboughtAmenaaSpanishmobileoperator. Shareholder’sapprovalofallthesedealsraisesaninterestingquestionforcompanieseverywhereareinvestorsrighttothinkthatthesemergersaremorelikelytosucceedthanearlieronesTherearetwoanswers.Thefirstisthatpastmergersmayhavebeenjudgedtooharshly.ThesecondisthatthepresentrashofEuropeandealsdoeslookmorerationalbut-andthecaveatiscrucial-onlysofar.Thepatternmaynothold. M&A’spoorreputationstemsnotonlyfromthestringofspectacularfailuresinthe1990sbutalsofromstudiesthatshowedvaluedestructionforacquiringshareholdersin80%ofdeals.Butmorerecentstudiesbyeconomistshaveintroducedanoteofcaution.Investorsshouldlookatthenumberofdealsthatsucceedorfailtypicallymeasuredbytheimpactonthesharepriceratherthanasyoumightthinkweighingthembysize.ForexamplenoonedoubtsthattheDaimler-Chryslermergerdestroyedvalue.ThecombinedmarketvalueofthetwofirmsisstillbelowthatofDaimleralonebeforethedeal.ThissingledealaccountedforhalfofallGermanM&Aactivitybyvaluein1998and1999andprobablydominatedpeople’sthinkingaboutmergerstothesamedegree.Throwinafewothersuchmonstersanditisnowonderthatbroadstudieshavetendedtofindthatmergersareabadidea.Thetruepictureismorecomplicated Thepatterninthethirdparagraphmostprobablydenotes
穿孔素
人CD8抗原相当于小鼠细胞表面哪种抗原
间接凝集反应
Apairofdicerolledagainandagainwilleventuallyproducetwosixes.Similarlythevirusthatcausesinfluenzaisconstantlychangingatrandomandonedaywillmutateinawaythatwillenableittoinfectbillionsofpeopleandtokillmillions.Manyexpertsnowbelieveaglobaloutbreakofpandemicfluisoverdueandthatthenextonecouldbeasbadastheonein1918whichkilledsomewherebetween25mand50mpeople.Todayhoweveradvancesinmedicineofferrealhopethatanothersuchoutbreakcanbecontained-ifgovernmentsstartpreparingnow. Newresearchpublishedthisweeksuggeststhatarelativelysmallstockpileofanantiviraldrug-aslittleas3mdoses--couldbeenoughtolimitsharplyaflupandemicifthedrugsweredeployedquicklytopeopleintheareasurroundingtheinitialoutbreak.Thedrug’smanufacturerRocheistalkingtotheWorldHealthOrganisationaboutdonatingsuchastockpile. Thisisgoodnews.ButmuchmoreneedstobedoneespeciallywithanastystrainofavianfluspreadinginAsiawhichcouldmutateintoathreattohumans.SincetheSARSoutbreakin2003afewcountrieshavedevelopedplansinpreparationforsimilarepisodes.Butprogresshasbeenshamefullypatchyandthereisstillfartoolittleinternationalcoordination. AglobalstockpileofdrugsalonewouldnotbemuchusewithoutanadequatesystemofsurveillancetoidentifyearlycasesandawayofdeliveringtreatmentquicklyIfanoutbreakoccurredinaborderregionforexampleaswiftresponsewouldmostlikelydependonprioragreementsbetweendifferentcountriesaboutquarantineandcontainment. ReachingsuchagreementsisrarelyeasybutthatmakesthetaskallthemoreurgentRichcountriestendtobebetterpreparedthanpooronesbutthisshouldbenoconsolationtothem.Fludoesnotrespectborders.Itisineveryone’sinteresttomakesurethatdevelopingcountriesespeciallyinAsiaarealsowellprepared.Manymaybridleatinterferencefromoutside.Butifrichernationswerewillingtodonateanti-viraldrugsandguaranteeasupplyofanyvaccinethatbecomesavailablepoorernationsmightbewillingtoreachagreementsoversurveillanceandpreparedness. Simplysortingoutafewdetailsnowwillhavelivesandrecriminationslater.WilltherebeenoughventilatorsmakesanddrugsWherewillpeoplebetreatedifthehospitalsoverflowWillfoodbedeliveredasnormalToomanycountrieshavenoanswerstothesequestions. Thebesttitleforthetextwouldbe
Companieshaveembarkedonwhatlookslikethebeginningsofare-runofthemergersandacquisitionsM&Awavethatdefinedthesecondbubblyhalfofthe1990s.Thatperiodreadersmightrecallwascharacterizedbyacollectivesplurgethatsawthecreationofsomeofthemostindebtedcompaniesinhistorymanyofwhichlaterwentbankruptorwerethemselvesbrokenup.WildbiddingfortelecomsinternetandmediaassetsnottomentionthemadnessthatwasDaimler’s$40billionmotoringtakeoverin1998-1999ofChryslerortheTime-Warner/AOLmega-mergerin2000helpedtogivemergersathoroughlybadname.AconsensusemergedthatM&Awasagreatwayforinvestmentbankstoreaprichfeesandasurewayforambitiousmanagerstobetrayinvestorsbytrashingthevalueoftheirshares. NowM&Aisback.ItsreturnisaglobalphenomenonbutitisperhapsmoststrikinginEuropewheresofarthisyeartherehasbeenastreamofdealsworthmorethan$600billionintotalaround40%higherthaninthesameperiodof2004.ThelatesteffortcamethisweekwhenFrance’sSaint-Gobainabuilding-materialsfirmunveiledthedetailsofits￡3.6billion$6.5billionhostilebidforBPBaBritishrival.Inthefirsthalfoftheyearcross-borderactivitywasupthreefoldoverthesameperiodlastyear.EvenFranceTelecomwhichwasleftalmostbankruptattheendofthelastmergerwaverecentlyboughtAmenaaSpanishmobileoperator. Shareholder’sapprovalofallthesedealsraisesaninterestingquestionforcompanieseverywhereareinvestorsrighttothinkthatthesemergersaremorelikelytosucceedthanearlieronesTherearetwoanswers.Thefirstisthatpastmergersmayhavebeenjudgedtooharshly.ThesecondisthatthepresentrashofEuropeandealsdoeslookmorerationalbut-andthecaveatiscrucial-onlysofar.Thepatternmaynothold. M&A’spoorreputationstemsnotonlyfromthestringofspectacularfailuresinthe1990sbutalsofromstudiesthatshowedvaluedestructionforacquiringshareholdersin80%ofdeals.Butmorerecentstudiesbyeconomistshaveintroducedanoteofcaution.Investorsshouldlookatthenumberofdealsthatsucceedorfailtypicallymeasuredbytheimpactonthesharepriceratherthanasyoumightthinkweighingthembysize.ForexamplenoonedoubtsthattheDaimler-Chryslermergerdestroyedvalue.ThecombinedmarketvalueofthetwofirmsisstillbelowthatofDaimleralonebeforethedeal.ThissingledealaccountedforhalfofallGermanM&Aactivitybyvaluein1998and1999andprobablydominatedpeople’sthinkingaboutmergerstothesamedegree.Throwinafewothersuchmonstersanditisnowonderthatbroadstudieshavetendedtofindthatmergersareabadidea.Thetruepictureismorecomplicated Theconclusionreachedbygeneralresearchesisthatmergersarenot
Inthepastyearalothaschangedinthefieldofhumanspaceflight.46InJanuaryPresidentGeorgeBushbrushedasidethefactthatAmerica’sentirespace-shuttlefleetwasgroundedwhenheannouncedgrandioseplanstoputpeoplebackonthemoonandthentolaunchamannedmissiontoMars.47InJuneBurtRutananAmericanaeronauticalengineershowedthathumanspaceflightwasnolongerthepreserveofgovernmentsbysendingamantotheedgeofspaceinSpaceShipOneaprivatelyfinancedvehiclethatcostaboutthesametobuildasaluxuryyacht.ThatwasfollowedinSeptemberbySirRichardBransontheBritishentrepreneurbehindtheVirginbrandannouncingthathehadsignedadealwithMr.RutantoworkonplansforafleetoffivesuborbitalvehiclesdevelopedfromSpaceShipOne. 48NowinthedyingdaysoftheyearAmerica’sCongresshaspassedabillthatunravelsatangleaboutwhowouldberesponsibleforregulatingthefledglingindustryandunderwhatterms.49ThebillalsoallowspassengerstoflyontheunderstandingthatthisnewgenerationofvehiclesmaynotbeassafeastakingacommercialflightbetweensayNewYorkandLondon. TheofficiallinefromVirginGalacticaasSirRichard’slatestventureismodestlynamedisthatthiscomingchangeinthelawmakesnopracticaldifferencetothefirm’splanssincetheydonotintendtoflyunlesstheycanmaketheirspacecraftassafeasaprivatejet.Butitmustsurelycomeassomesortofrelief.InanycaseWillWhitehorndirectorofcorporateaffairsatVirgin’sheadquartersinLondonandsoontobecomethepresidentofVirginGalacticasaysthatworkisunderwayonamock-upoftheinteriorofanewspacecraftthatwillholdfivepassengers.50Virginhasalreadycommitted$20mtowardslicensingtheSpaceShipOnetechnologyfromMr.RutanandhisfinancialbackerPaulAllenasoftwarebillionaire. InJuneBurtRutananAmericanaeronauticalengineershowedthathumanspaceflightwasnolongerthepreserveofgovernmentsbysendingamantotheedgeofspaceinSpaceShipOneaprivatelyfinancedvehiclethatcostaboutthesametobuildasaluxuryyacht.
Inthepastyearalothaschangedinthefieldofhumanspaceflight.46InJanuaryPresidentGeorgeBushbrushedasidethefactthatAmerica’sentirespace-shuttlefleetwasgroundedwhenheannouncedgrandioseplanstoputpeoplebackonthemoonandthentolaunchamannedmissiontoMars.47InJuneBurtRutananAmericanaeronauticalengineershowedthathumanspaceflightwasnolongerthepreserveofgovernmentsbysendingamantotheedgeofspaceinSpaceShipOneaprivatelyfinancedvehiclethatcostaboutthesametobuildasaluxuryyacht.ThatwasfollowedinSeptemberbySirRichardBransontheBritishentrepreneurbehindtheVirginbrandannouncingthathehadsignedadealwithMr.RutantoworkonplansforafleetoffivesuborbitalvehiclesdevelopedfromSpaceShipOne. 48NowinthedyingdaysoftheyearAmerica’sCongresshaspassedabillthatunravelsatangleaboutwhowouldberesponsibleforregulatingthefledglingindustryandunderwhatterms.49ThebillalsoallowspassengerstoflyontheunderstandingthatthisnewgenerationofvehiclesmaynotbeassafeastakingacommercialflightbetweensayNewYorkandLondon. TheofficiallinefromVirginGalacticaasSirRichard’slatestventureismodestlynamedisthatthiscomingchangeinthelawmakesnopracticaldifferencetothefirm’splanssincetheydonotintendtoflyunlesstheycanmaketheirspacecraftassafeasaprivatejet.Butitmustsurelycomeassomesortofrelief.InanycaseWillWhitehorndirectorofcorporateaffairsatVirgin’sheadquartersinLondonandsoontobecomethepresidentofVirginGalacticasaysthatworkisunderwayonamock-upoftheinteriorofanewspacecraftthatwillholdfivepassengers.50Virginhasalreadycommitted$20mtowardslicensingtheSpaceShipOnetechnologyfromMr.RutanandhisfinancialbackerPaulAllenasoftwarebillionaire. ThebillalsoallowspassengerstoflyontheunderstandingthatthisnewgenerationofvehiclesmaynotbeassafeastakingacommercialflightbetweensayNewYorkandLondon.
抗原的特异性决定于
[A]DrDanielStanleyanoceanographerhasfoundvolcanicshardsinEgyptthathebelievesarelinkedtotheexplosion.ComputersimulationsbyMikeRampinoaclimatemodelerfromNewYorkUniversityshowthattheresultingashcloudcouldhaveplungedtheareaintodarknessaswellasgeneratinglightningandhailtwoofthe10plagues. [B]Thecloudcouldhavealsoreducedtherainfallcausingadrought.IftheNilehadthenbeenpoisonedbytheeffectsoftheeruptionpollutioncouldhaveturneditredashappenedinarecentenvironmentaldisasterinAmerica.Thesamepollutioncouldhavedrivenmillionsoffrogsontothelandthesecondplague.Onlandthefrogswoulddieremovingtheonlyobstacletoanexplosionoffliesandlice-thethirdandfourthplagues.Thefliescouldhavetransmittedfataldiseasestocattlethefifthplagueandboilsandblisterstohumansthesixthplague. [C]MoseswhichwillbebroadcastinDecember2002willsuggestthatmuchoftheBiblestorycanbeexplainedbyasinglenaturaldisasterahugevolcaniceruptionontheGreekislandofSantoriniinthe16thcenturyBC. [D]Thehour-longdocumentaryarguesthateventhestoryofthepartingoftheRedSeawhichallowedMosestoleadtheHebrewstosafetywhilethepursuingEgyptianarmywasdrownedmayhaveitsoriginsintheeruption.Itrepeatsthetheorythat"RedSea"isamistranslationoftheSeaofReedsamuchshallowerswamp. [E]TheprogrammetellsthestoryofhowMosesledtheHebrewsoutofEgyptafteraseriesofplagueshaddevastatedthecountry.Butitalsousesnewscientificresearchtoarguethatmanyoftheeventssurroundingtheexoduscouldhavebeentriggeredbytheeruptionwhichwouldhavebeenathousandtimesmorepowerfulthananuclearbomb. [F]ComputersimulationsshowthattheSantorinieruptioncouldhavetriggereda600ft-hightidalwavetravelingatabout400milesanhourwhichwouldhavebeen6fthighandahundredmileslongwhenitreachedtheEgyptiandelta.Suchaneventwouldhavebeenrememberedforgenerationsandmayhaveprovidedtheinspirationforthestory. [G]FreshevidencethattheBiblicalplaguesandthepartingoftheRedSeawerenaturaleventsratherthanmythsormiraclesistobepresentedinanewBBCdocumentary. Order: 43
Directions: WritealettertoLiuXiangexpressingcongratulationsforhisnewworldrecord.Youshouldwriteabout100wordsonANSWERSHEET2.Donotsignyourownnameattheendoftheletter;use"LiMing"instead.Donotwritetheaddress.
[A]DrDanielStanleyanoceanographerhasfoundvolcanicshardsinEgyptthathebelievesarelinkedtotheexplosion.ComputersimulationsbyMikeRampinoaclimatemodelerfromNewYorkUniversityshowthattheresultingashcloudcouldhaveplungedtheareaintodarknessaswellasgeneratinglightningandhailtwoofthe10plagues. [B]Thecloudcouldhavealsoreducedtherainfallcausingadrought.IftheNilehadthenbeenpoisonedbytheeffectsoftheeruptionpollutioncouldhaveturneditredashappenedinarecentenvironmentaldisasterinAmerica.Thesamepollutioncouldhavedrivenmillionsoffrogsontothelandthesecondplague.Onlandthefrogswoulddieremovingtheonlyobstacletoanexplosionoffliesandlice-thethirdandfourthplagues.Thefliescouldhavetransmittedfataldiseasestocattlethefifthplagueandboilsandblisterstohumansthesixthplague. [C]MoseswhichwillbebroadcastinDecember2002willsuggestthatmuchoftheBiblestorycanbeexplainedbyasinglenaturaldisasterahugevolcaniceruptionontheGreekislandofSantoriniinthe16thcenturyBC. [D]Thehour-longdocumentaryarguesthateventhestoryofthepartingoftheRedSeawhichallowedMosestoleadtheHebrewstosafetywhilethepursuingEgyptianarmywasdrownedmayhaveitsoriginsintheeruption.Itrepeatsthetheorythat"RedSea"isamistranslationoftheSeaofReedsamuchshallowerswamp. [E]TheprogrammetellsthestoryofhowMosesledtheHebrewsoutofEgyptafteraseriesofplagueshaddevastatedthecountry.Butitalsousesnewscientificresearchtoarguethatmanyoftheeventssurroundingtheexoduscouldhavebeentriggeredbytheeruptionwhichwouldhavebeenathousandtimesmorepowerfulthananuclearbomb. [F]ComputersimulationsshowthattheSantorinieruptioncouldhavetriggereda600ft-hightidalwavetravelingatabout400milesanhourwhichwouldhavebeen6fthighandahundredmileslongwhenitreachedtheEgyptiandelta.Suchaneventwouldhavebeenrememberedforgenerationsandmayhaveprovidedtheinspirationforthestory. [G]FreshevidencethattheBiblicalplaguesandthepartingoftheRedSeawerenaturaleventsratherthanmythsormiraclesistobepresentedinanewBBCdocumentary. Order: 45
[A]DrDanielStanleyanoceanographerhasfoundvolcanicshardsinEgyptthathebelievesarelinkedtotheexplosion.ComputersimulationsbyMikeRampinoaclimatemodelerfromNewYorkUniversityshowthattheresultingashcloudcouldhaveplungedtheareaintodarknessaswellasgeneratinglightningandhailtwoofthe10plagues. [B]Thecloudcouldhavealsoreducedtherainfallcausingadrought.IftheNilehadthenbeenpoisonedbytheeffectsoftheeruptionpollutioncouldhaveturneditredashappenedinarecentenvironmentaldisasterinAmerica.Thesamepollutioncouldhavedrivenmillionsoffrogsontothelandthesecondplague.Onlandthefrogswoulddieremovingtheonlyobstacletoanexplosionoffliesandlice-thethirdandfourthplagues.Thefliescouldhavetransmittedfataldiseasestocattlethefifthplagueandboilsandblisterstohumansthesixthplague. [C]MoseswhichwillbebroadcastinDecember2002willsuggestthatmuchoftheBiblestorycanbeexplainedbyasinglenaturaldisasterahugevolcaniceruptionontheGreekislandofSantoriniinthe16thcenturyBC. [D]Thehour-longdocumentaryarguesthateventhestoryofthepartingoftheRedSeawhichallowedMosestoleadtheHebrewstosafetywhilethepursuingEgyptianarmywasdrownedmayhaveitsoriginsintheeruption.Itrepeatsthetheorythat"RedSea"isamistranslationoftheSeaofReedsamuchshallowerswamp. [E]TheprogrammetellsthestoryofhowMosesledtheHebrewsoutofEgyptafteraseriesofplagueshaddevastatedthecountry.Butitalsousesnewscientificresearchtoarguethatmanyoftheeventssurroundingtheexoduscouldhavebeentriggeredbytheeruptionwhichwouldhavebeenathousandtimesmorepowerfulthananuclearbomb. [F]ComputersimulationsshowthattheSantorinieruptioncouldhavetriggereda600ft-hightidalwavetravelingatabout400milesanhourwhichwouldhavebeen6fthighandahundredmileslongwhenitreachedtheEgyptiandelta.Suchaneventwouldhavebeenrememberedforgenerationsandmayhaveprovidedtheinspirationforthestory. [G]FreshevidencethattheBiblicalplaguesandthepartingoftheRedSeawerenaturaleventsratherthanmythsormiraclesistobepresentedinanewBBCdocumentary. Order: 41
Arthus反应
关于佐剂的描述哪一种说法是错误的
AIDS传播方式有①②③
溶血空斑试验
单核吞噬细胞的功能主要包括要①②③④
移植物抗宿主反应
Apairofdicerolledagainandagainwilleventuallyproducetwosixes.Similarlythevirusthatcausesinfluenzaisconstantlychangingatrandomandonedaywillmutateinawaythatwillenableittoinfectbillionsofpeopleandtokillmillions.Manyexpertsnowbelieveaglobaloutbreakofpandemicfluisoverdueandthatthenextonecouldbeasbadastheonein1918whichkilledsomewherebetween25mand50mpeople.Todayhoweveradvancesinmedicineofferrealhopethatanothersuchoutbreakcanbecontained-ifgovernmentsstartpreparingnow. Newresearchpublishedthisweeksuggeststhatarelativelysmallstockpileofanantiviraldrug-aslittleas3mdoses--couldbeenoughtolimitsharplyaflupandemicifthedrugsweredeployedquicklytopeopleintheareasurroundingtheinitialoutbreak.Thedrug’smanufacturerRocheistalkingtotheWorldHealthOrganisationaboutdonatingsuchastockpile. Thisisgoodnews.ButmuchmoreneedstobedoneespeciallywithanastystrainofavianfluspreadinginAsiawhichcouldmutateintoathreattohumans.SincetheSARSoutbreakin2003afewcountrieshavedevelopedplansinpreparationforsimilarepisodes.Butprogresshasbeenshamefullypatchyandthereisstillfartoolittleinternationalcoordination. AglobalstockpileofdrugsalonewouldnotbemuchusewithoutanadequatesystemofsurveillancetoidentifyearlycasesandawayofdeliveringtreatmentquicklyIfanoutbreakoccurredinaborderregionforexampleaswiftresponsewouldmostlikelydependonprioragreementsbetweendifferentcountriesaboutquarantineandcontainment. ReachingsuchagreementsisrarelyeasybutthatmakesthetaskallthemoreurgentRichcountriestendtobebetterpreparedthanpooronesbutthisshouldbenoconsolationtothem.Fludoesnotrespectborders.Itisineveryone’sinteresttomakesurethatdevelopingcountriesespeciallyinAsiaarealsowellprepared.Manymaybridleatinterferencefromoutside.Butifrichernationswerewillingtodonateanti-viraldrugsandguaranteeasupplyofanyvaccinethatbecomesavailablepoorernationsmightbewillingtoreachagreementsoversurveillanceandpreparedness. Simplysortingoutafewdetailsnowwillhavelivesandrecriminationslater.WilltherebeenoughventilatorsmakesanddrugsWherewillpeoplebetreatedifthehospitalsoverflowWillfoodbedeliveredasnormalToomanycountrieshavenoanswerstothesequestions. Thespeedofremedydispatchisofimportanceto
B淋巴细胞能识别特异性抗原其表面有
下列哪一种细胞因子是由T淋巴细胞分泌的
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