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?5?.?????????

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Title: ?5?.?????????


1
?5?.???????????(4)??????????
???????????
2001?10????? 07?9? 2500????250????????3??
?????? ??????
???? ?????
???? ??????
???? ????????? ?????????
2
?????? ??????
????????? ????????????????????????????or?????????or??????? ????(????)????B/S???
??? ??? ??
??????? ???(?????????????????????????) ??(????????)?????????????????????????
3
  • ???????????
  • ????????????
  • ?????????????????????????????????

4
??????? ?? ???????? ?????? ??????
????????????????????p.132
5
??????????????????????? (3??????????????)???????
????????
??????????????????????p.127
6
?????????????????
??????? ??????
???????????????????????
7
???? ????? ?????? ????? 2002?? p.245
??????
2006????????????22573???248???
???????? 32667???359?? IRA(????????????????)4232
0???466??
8
???????????????????????????????????
????????????2006
9
????????????????
  • ????????(??????????????)
  • ?????????????????????????????????????????????????
    ??
  • 1992GM?CEO????????????
  • 2004?????????????CEO???????????????????????????
    ????????CEO???

10
??????????????????????????
  • ?????????????
  • ?????
  • (2003????????????)
  • ?????
  • ??????????????????????????????????????????????????
    (2001)????????????????????
  • ??????

11
????????????(2006??)?? ?????????
12
????(???????????????)?????????
13
? ?????????????????????????????? ????(2006??)???
????
14
??5?????
  • ?????????????????????06???
  • ?????????????????????05???
  • ???????????????????????????2007 ?7?
  • ????????????????????????????1999
  • ??????????????????????2003 ?2?
  • ???????????????2006 ?2?
  • ????????????????????????????2004 ?4?
  • ?????????????????????????1999 ?2???5?

15
?6?.???????????????(1)???????
  • ??????100???or????499???????500????????????
  • ????1???(2005?)
  • ?????8000????????????????LTCM
  • ?????????????????????
  • ???????????????????

16
??????????????
?????????06.7.p.108
17
  • ???????????(?????????)
  • ?
  • ????????????????
  • ?
  • ????????????
  • ????????????????????????????????????????????????
  • ?
  • ????????????????????????
  • ?
  • ?????????????????????
  • ?
  • ?????????????????????????
  • ?????????????????????????

18
??????????06/7/24???????TOB(860?)??
8/29??TOB????
?????????????????????TOB???????? ????????????????
??????????
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