Notes

Passage 1 - Excerpt A (E-C)
Dear Mr. McNeill:

Re: Request To Expedite Payment - Contract PLC-09-17542

Due to circumstances beyond our control, we have been unable to complete the final delivery phase of the exterior wharf retaining wall under the above-noted contract. All work has been completed except for the installation of the tie-down anchors which have not yet been received from the manufacturer. These are expected to arrive within four weeks and we plan to install them as soon as we receive them.

In the meantime, we are experiencing a serious cash flow problem which is affecting our ability to complete a number of our other contracts; including the access road extension project (PLC- 10-21743). As you know, any delay in completion of the access road will have a negative impact on a number of other Phase 2 contracts.

We therefore request that you immediately release payment for the above-noted wharf retaining wall contract, subject to a 10% holdback to be payable on completion of the tie-down anchors. That arrangement will protect you while at the same time relieving the problems caused by our current cash flow difficulties.


Passage 1 - Excerpt B
Dear XXX:

Thank You For Your Business!

I am sending this letter to express my sincere appreciation to you for your continued patronage of our business. At European Interiors we are well aware that it is repeat customers like you who are largely responsible for 20xx being the best sales year in our 14 year history.

… In addition, we are also offering an exclusive financing package to only our best and most appreciated customers during that same period. Because you are included in that very exclusive group, we are offering you zero down payment, with zero financing charges for the entire first year of ownership of any furniture purchase you make valued over $1,000 during the month of February.

We are happy to have served you well in the past and we look forward to continuing to provide your home furnishing needs in the future.


Passage 2
以康師傅、統一和旺旺為代表的台資企業，正經歷成長里程中重要的一道坎。2013年至今，它們一直處在下滑的軌道上。

不久前陸續公布的半年報顯示，統一和旺旺都是營收凈利潤雙降。唯獨師傅倒是給出了一份不錯的上半年報，2017年上半營收為285.68億元，同比增加4.2%。但這並不意味著康師傅擺脫了下滑的軌道。2016年上半年財報被認為是康師傅十年最差的財報，確切的說，要判斷康師傅恢復增長還為時尚早。

很長時間裡，康師傅、統一、旺旺這些來自台灣的食品企業在產品本身和渠道流通上都扮演著引領的角色。 但是如果從三家公司上市後可以查到的2009年到2016年的財務數據比較，會發現它們的下滑從2013年已經開始。

8年間它們都在2013年達到業績最高點，截止2016年底，康師傅和旺旺的下滑幅度都是23%，統一雖然新品不斷，同樣逃不開類似的趨勢，下滑幅度為9.9%。

當公司發展遇到瓶頸的時候，多數企業會通過戰略調整去改善業績，而通常的做法就是出售資產、架構調整、裁員等。

精簡人手也是度過難關的方法。公開資料可查，截至今年6月底，統一企業員工數為2.9萬人，與2013年底相比減少9372人。旺旺目前員工人數約為4.55萬人，比2013年的5.35萬少8000人。康師傅員工數則由2013年的8.05萬人，減少到目前的6.04萬人，減少了將近2萬人。