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18
1. Any American, dressed in his best, relishes being told he looks like a
million dollars. The 700 members of the American Olympics team in Los
Angeles next month can boast, during the games, that they look like $50m.
2. That is the sum Levi Strauss has allocated to one of the biggest pro-
motional splashes in this advertising-saturated event. It is the company's
largest good-will expenditure since it was founded in 1850 in San Fran-
cisco to make work-clothes for gold-miners. Levi Strauss, as official out-
fitters for the games, will furnish all the clothing needed by the American
athletes for their entire stay in Los Angeles, and by all the Olympic staff; it
will provide everything but the actual competition uniform worn by con-
tenders during their events - some 600,000 items of clothing.
3. All this lavish advertising is supposed to have some beneficial conse-
quences in the company's ledgers, for the outfits to be seen on television,
worn by judges, officials, hosts, ushers and even parking-lot attendants, as
well as by the athletes, will be on sale across the country. ‘We think it will
be money well spent,' said Mr. Robert Haas, executive vice-president and
great, great grand-nephew of the company's founder, Levi Strauss.
4. It could not all be laid to the high value of the dollar and to the drop in
jeans sales in Brazil, the second-largest jeans market in the world. One
reason given for the poor results was – not surprisingly – the high cost of
advertising.
5. The accounts could stand some improvement. The company announced
this week that its profits in the second quarter fell 85%; in the first half of
its fiscal year they have fallen 78%. Over the next year it will be closing
11 plants employing 3,200 people in different parts of the country.
The Economist, June 23, 1984
XI. Complete the statements, selecting the letter of the best choice:
1. Levi Strauss founded the company _______.
a) 134 years ago;
b) more than 140 years ago;
c) about 150 years ago.
2. Levi Strauss Co is famous for producing ________ .
a) sport outfits;
b) work clothes for miners;
c) jeans.
3. Jeans sales dropped in _______ .
a) Europe;
b) Brazil;
c) Asia.
4. The high cost of advertising campaign equalled $ _______ million.
a) one;
b) 50;
c) 700.
5. Mr. Robert Haas , executive vice-president of the company , is the
founder’s ___________ .
a) descendant;
b) ancestor;
c) heir.
6. Levi Strauss allocated $ 50 m to _______ for the 1984 Olympics in Los
Angeles.
a) organization;
b) distribution;
c) promotion.
XII. Make up statements matching phrases from column A with phrases
from column B:
Column A Column B
1. A company writes its ac-
counts each year _______
2. If a company spends more
than earns _______
3. The period of one year on
which tax is calculated
a) then it makes a loss.
b) is called the fiscal year.
c) then the bottom line of the ledger
shows a surplus.
d) draws up accounts every quarter.
e) to show its expenditure and profit.
1. Any American, dressed in his best, relishes being told he looks like a a) sport outfits;
million dollars. The 700 members of the American Olympics team in Los b) work clothes for miners;
Angeles next month can boast, during the games, that they look like $50m. c) jeans.
2. That is the sum Levi Strauss has allocated to one of the biggest pro-
motional splashes in this advertising-saturated event. It is the company's 3. Jeans sales dropped in _______ .
largest good-will expenditure since it was founded in 1850 in San Fran- a) Europe;
cisco to make work-clothes for gold-miners. Levi Strauss, as official out- b) Brazil;
fitters for the games, will furnish all the clothing needed by the American c) Asia.
athletes for their entire stay in Los Angeles, and by all the Olympic staff; it
will provide everything but the actual competition uniform worn by con- 4. The high cost of advertising campaign equalled $ _______ million.
tenders during their events - some 600,000 items of clothing. a) one;
3. All this lavish advertising is supposed to have some beneficial conse- b) 50;
quences in the company's ledgers, for the outfits to be seen on television, c) 700.
worn by judges, officials, hosts, ushers and even parking-lot attendants, as
well as by the athletes, will be on sale across the country. ‘We think it will 5. Mr. Robert Haas , executive vice-president of the company , is the
be money well spent,' said Mr. Robert Haas, executive vice-president and founder’s ___________ .
great, great grand-nephew of the company's founder, Levi Strauss. a) descendant;
4. It could not all be laid to the high value of the dollar and to the drop in b) ancestor;
jeans sales in Brazil, the second-largest jeans market in the world. One c) heir.
reason given for the poor results was – not surprisingly – the high cost of
advertising. 6. Levi Strauss allocated $ 50 m to _______ for the 1984 Olympics in Los
5. The accounts could stand some improvement. The company announced Angeles.
this week that its profits in the second quarter fell 85%; in the first half of a) organization;
its fiscal year they have fallen 78%. Over the next year it will be closing b) distribution;
11 plants employing 3,200 people in different parts of the country. c) promotion.
The Economist, June 23, 1984 XII. Make up statements matching phrases from column A with phrases
from column B:
XI. Complete the statements, selecting the letter of the best choice:
Column A Column B
1. Levi Strauss founded the company _______. 1. A company writes its ac- a) then it makes a loss.
a) 134 years ago; counts each year _______ b) is called the fiscal year.
b) more than 140 years ago; 2. If a company spends more c) then the bottom line of the ledger
c) about 150 years ago. than earns _______ shows a surplus.
3. The period of one year on d) draws up accounts every quarter.
2. Levi Strauss Co is famous for producing ________ . which tax is calculated e) to show its expenditure and profit.
18
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