Business English Bits Issue 101
The 10-min homework newsletter that supports your advanced business and English language learning...
Good morning to all, hope you are having a nice relaxing weekend or are working hard at something you enjoy. A warm welcome to Saturday’s issue of Business English Bits.
Today we have a report from the WSJ Youtube channel. Many of the stories and case studies we come across* in Business English Bits are tales of triumph and success. Every now and again is good to look companies who have been, or are in distress** and find out what we can learn from their hardship*** and/or ‘errors’ of judgement.
*To Come across (pv) - To find smth by chance
**Distress (n) - Difficulty caused by lack of money
***Hardship (n) - Difficult to endure; suffering
After more than 50 years of serving up dishes to American seafood lovers, Red Lobster finds itself today on the edge of bankruptcy with its owners looking to jump ship* and obtain a quick sale. This particular ‘road to ruin’, is insightful** as just 20 years ago the chain was listed as one of the top restaurants in the States. Its limited seasonal special ‘all you can eat shrimp’ deals were extremely popular with American consumers and it is here, that part of the companies downfall**** can be explained.
*To Jump ship (ph) - To leave an organisation or cause
**Insightful (adj) - Perceptive; Able to understand
***Downfall (n) - Smth causing ruin, failure
Earlier this year, in order to gain foot traffic*, Red Lobster offered an unlimited time period for its ‘all you can eat shrimp’ deal. The move proved to be so popular that social media influencers started competing with each other to see who could eat the most prawns. The number of diners did subsequently increased. However, due to the high cost of shrimp, the firm managed to racked up** record losses and now teeters*** on the edge of bankruptcy.
*Foot traffic/fall (n) - Number of customers that enter a store or location
**To Rack up (pv) - To obtain or achieve smth
***To teeter (v) - To move or balance unsteadily
Focus on some key new verb from the video ….
1. VIDEO: WSJ - (6min) - Red Lobster Is Hemorrhaging Millions Because of Endless Shrimp
Key Words - (Smth = Something; Sb=Someone)
To Pile up (pv) - To cause smth to increase in quantity
To Debut (v) - To make a first appearance
To Spike (v) - To increase sharply
To Plummet (v) - To fall dramatically
To Acquire (v) - To come into possession or ownership of smth
To Lease (v) - To pay money to sb in exchange for the use of smth
Drain (n) - Smth using too much energy, money etc.
Widespread (adj) - Extensive
Shortage (n) - Deficiency in quantity
To Drive up (pv) - To increase quickly
To Eat into (pv) - To use up or consume
To Balloon (v) - To increase rapidly
To Amend (v) - To change or modify
Loss leader (cn) - Item offered for sale at low price, intended to lead to subsequent purchases
Exec (n) - Executive
Buzz (n) - Excitement
Leap (n) - Big jump
To File for bankruptcy (col) - To officially ask to be legally recognised as bankrupt
Word of the Day … Guess the missing key word. Answer given below with examples!
Some new idioms to review …
Word of the Day Answer:
Coincide (Verb) - Occur at the same time; Correspond in nature
Examples:
“It's a shame our business trips don’t coincide as we could have met up for lunch.”
“Our views on the subject have always coincided, but I do respect your opinion.”
ANSWERS TO WEDNESDAY’S PHRASAL VERB TEST …
Have a great weekend, and see you next Tuesday ….
Kevin
The Business English Bits newsletter is gold for anyone looking to build a better professional English vocabulary!