Fine owed by George Washington for overdue library books now $300,000

Photograph: Getty Images

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Published by: www.guardian.co.uk - Sunday April 18th, 2010

By: Ed Pilkington in New York

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First President of the U.S. failed to return two volumes borrowed in 1789 from the New York Society Library.

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The first president of the US failed to return a volume of Commons debates and a law book he had borrowed in 1789 in New York.

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Founder of a nation, trouncer of the English, God-fearing family man: all in all, George Washington has enjoyed a pretty decent reputation. Until now, that is.

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The hero who crossed the Delaware River may not have been quite so squeaky clean when it came to borrowing library books.

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The New York Society Library, the city's only lender of books at the time of Washington's Presidency, has revealed that the First American President took out two volumes and pointedly failed to return them.

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At today's prices, adjusted for inflation, he would face a late fine of $ 300,000.

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The library's leadgers show that Washington took out the books on October 5th, 1789, some five months into his presidency at a time when New York was still the Capital. They were an essay on international affairs called Law of Nations and the twelfth volume of a 14-volume collection of debates from the English House of Commons.

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The ledger simply referred to the borrower as "President" in quill pen, and had no return date.

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Sure enough, when the librarians checked their holdings they found all 14 volumes of the Commons debates bar volume 12.

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Under the rules of the library, the books should have been handed back by November 2nd, that same year, and their borrower and presumably his descendants have been liable to fines of a few cents a day ever since.

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Other prominent borrowers who used the collection did not appear to have the same problems with returning titles.

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The first treasury secretary, Alexander Hamilton, the first chief justice, John Jay, and Thomas Jefferson's vice-president, Aaron Burr, are all listed on the Ledger under both borrowing and return dates.

"We're not actively pursuing the overdue fines," the head librarian Mark Bartlett said. "But we would be very happy if we were able to get the books back."

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VOCABULARY

Fine: noun - an amount of money that has to be paid as a punishment for not obeying a rule or a law.

Overdue: adjective - not done or happening when expected or when needed; late.

Trouncer: noun - derivative from the verb to trounce which means: to defeat a competitor by a large amount.

All in all: Idiomatic expression - considering all the different parts of a situation together

Has enjoyed: Present Perfect of the verb "to enjoy" - to get pleasure from something.

Squeaky: Adjective -completely clean / Someone who is squeakly clean is completely good and honest and never does anythig bad.

took out: Past Simple of the verb "to take out" - withdraw: remove (a commodity) from (a supply source)

Pointedly: Adverb - in a very obvious way

Late Fine: Overdue fine (for fine see definition above)

Ledgers: noun - a book in which things are regularly recorded, especially business activities and money received or paid

Essay: noun - a short piece of writing on a particular subject, especially one done by student as a part of the work for a course.

quill pen: noun - a pen made from a bird's feather, used in the past

have been liable: Present Perfect Tense of "be liable" - be responsible

Prominent: Adjective - very well known and important

Treasury Secretary: Secretário do Tesouro (easily explained in Portuguese)

Pursuing: Gerund of the Verb "to Pursue" - If you pursue a plan, activity or situation, you try to do it or achieve it, usually over a long period of time.

Learning in the News - XXVI

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Stores revive layaway plans for holiday shoppers as economic crisis tightens

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Layaway makes a comeback this holiday season as consumers look at ways to try to stay within a budget in the current economic crisis. Retailers hope it helps boost business.
BY ELAINE WALKER
The Miami herald – Published November 15TH, 2008
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Olga Valeriano has found an old solution to her new budget crunch this holiday season: shopping on layaway.
The concept that went out of style with the rise of credit cards in the 1990s is making a resurgence this holiday season among shoppers like Valeriano.
At Kmart, she can put 10 percent down and spread out biweekly payments over eight weeks. At the end, she'll have the Guitar Hero and other toys her two sons want in time for Christmas. It's a big help for the stay-at-home mom whose husband's income has suffered with the falloff in construction work.
''This will give us time to get the money together,'' said Valeriano, 44, who was checking out items for layaway this week at a Hollywood Kmart.
Kmart hopes layaway will help lure new customers this holiday season, which is one reason the retailer is aggressively touting the program in national television commercials. And sister company Sears announced plans this week to revive its layaway program after an almost 20-year hiatus. Starting this weekend, Sears shoppers can use layaway at almost all departments, except home appliances and home electronics.
''Consumers told us all of a sudden layaway is relevant to them,'' said Tom Aiello, spokesman for Sears Holdings, parent firm of Kmart and Sears. ``People want to shop smart this holiday season. Layaway has become a real common sense way of staying within a budget and having a good holiday season.''
Layaway first became popular during the Great Depression. But after several decades of consumers used to whipping out the plastic and getting instant gratification, some experts believe the return to more frugal values is a much-needed change.
''It's harder for consumers to get credit and a lot of consumers are already buried in debt,'' said Tony Gao, marketing professor at Northeastern University in Boston. ``Layaway plans are all about delaying gratification. I think that's good for consumers because excess borrowing caused a lot of today's financial problems.''
Most retailers got out of layaway in the 1990s and post-2000 as credit cards became ubiquitous and the programs became too expensive for retailers to administer.
Wal-Mart was one of the last holdouts. The world's largest retailer eliminated the program in 2006 and has no plans to get back in the business this year.
''We feel the best way for Wal-Mart to help customers is to keep prices as low as we can,'' said Anna Taylor, a Wal-Mart spokeswoman. ``Traditional layaway programs can be expensive and the costs get factored back into the cost of products.''
But some Marshalls and T.J. Maxx stores still offer layaway, as does Burlington Coat Factory. For many retailers, it's a case of looking for any strategy to drive business during what is expected to be the worst holiday season in years.
Layaway use is up about one-third over last year's volume at the Burlington Coat Factory at the Dolphin Mall in Doral, said Carlos Cardona, the store's assistant general manager.
''We're seeing an increase this year because of the economy,'' said Cardona, who is using the program himself. ``People don't have money.''
The 21st century version of layaway has gone online at eLayaway.com. The website by a Tallahassee company offers online layaway services for about 1,200 retailers, including Gap, Apple and Bass Pro Shops.
Registered users have exploded from 10,000 at the beginning of the year to more than 75,000 now, said Michael Bilello, eLayaway.com's vice president of business development.
''There is an entire population of Americans that has always used layaway,'' Bilello said. ``The only reason they stopped is because retailers stopped offering it. This is going to continue to grow as Americans look for tools to remain debt-free and fiscally responsible.''
That was what attracted Fred Johansen to test out eLayaway.com. Johansen is already trying to pay off balances on three credit cards and doesn't want to add to the debt.
He recently finished paying for a Mac computer on eLayaway.com and has now started making payments on some golf clubs for a Christmas gift for his dad.
''I'm trying to preserve and build my credit because I know I'm going to need that to buy a house in a couple of years,'' said Johansen, a 28-year-old graduate student who lives in Hollywood. ``This is a way for me to get more disciplined with my budgeting of my money.''
Layaway allows shoppers to spread payments over 30 to 60 days, without racking up interest, as on a credit card. Most layaway programs typically charge a service fee in the neighborhood of $5, or 1.9 percent in the case of eLayaway.com. If customers decide not to go through with the purchase, they get most of their money back minus a cancellation fee.
To start a layaway, stores require a deposit, usually between 10 percent and 20 percent of the cost of the item. There's also some restrictions on what items can be bought on layaway. At Kmart, exclusions include alcohol, perishable items, plants, cell phones and computers.
''It's very convenient,'' said Sharon Barnett, 41, a Fort Lauderdale resident who already put about $100 worth of toys on layaway at Kmart for her daughter. ``You know exactly where you are on your spending. After the holidays, I don't have bills to pay off.''

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Vocabulary

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Layaway: noun [U] (AUSTRALIAN ENGLISH lay-by)a system of paying for goods in small amounts and receiving the goods after the full amount has been paid, or goods bought in this way
Shoppers: noun – same as buyers
Tightens: phrasal verb [M] to make something become tighter, firmer or less easy to move
Comeback: noun [C] a successful attempt to get power, importance or fame again after a period of having lost it
Within: preposition, adverb inside or not beyond an area or period of time (dentro de)
Boost: verb [T] to improve or increase something
went out of style: past form of to go out of style – sair de moda (easier explained in Portuguese)
biweekly: adjective, adverb happening or appearing every two weeks or twice a week
income: noun [C or U] money that is earned from doing work or received from investments
falloff: phrasal verb If the amount, rate, or quality of something falls off, it becomes smaller or lower
lure: verb [T] to persuade someone to go somewhere or do something by offering them something exciting
holiday season: In the Northern Hemisphere, the Christmas season or (winter) holiday season is a late-year season that surrounds the Chirstmas holiday as well as other holidays during the November/December timeframe. It is sometimes synonymous with the winter season. The precise definition of feasts and festival days that are encompassed by the Christmas/winter holiday season has become controversial over recent decades. Traditionally, the only holidays included in the "season" were Christmas Eve, Christmas Day, Boxing Day (U.K. and some other countries), and New Year's Day. In recent times, this definition has begun to expand to include Yule, Hanukkah and Thanksgiving.
retailer: noun [C] someone who sells products to the public
touting: from tout - PRAISE [T] to praise someone or something in order to make people think that they are important - [often passive] He is being touted as the next big star.
revive: verb EXIST AGAIN [T] to make something from the past exist again
hiatus: noun [no plural] FORMAL a short pause in which nothing happens or is said
appliances: noun [C] a piece of electrical equipment with a particular purpose in the home
spokesman: noun [C] plural spokesmen, spokeswomen a man/woman who is chosen to speak officially for a group or organization
common sense: noun [U] the natural ability to be practical and to make good decisions
whipping out: Present Continuous Tense of Whip Out - to proceed nimbly or quickly
buried: verb [T] bury yourself in sth to give all your attention to something
debt: noun AMOUNT [C] an amount of money that you owe someone
borrowing: verb Present Continuous form of to borrow - [I,T] to take money from a bank or financial organization and pay it back over a period of time
ubiquitous: adjective FORMAL seeming to be in all places
holdouts: noun AMERICAN a person who refuses to accept an agreement
tools: noun [C] a piece of equipment which you use with your hands to make or repair something (ferramentas)
pay off: phrasal verb [M] to pay back money that you owe
allows: verb [T] to make it possible for someone to do something, or to not prevent something from happening; permit
spread: verb [I or T] spread, spread to (cause to) cover, reach or have an effect on a wider or increasing area
racking up: phrasal verb [M] to increase something such as a rent or price, especially by an amount that is considered to be too much
interest: noun [U] money which is charged by a bank or other financial organization for borrowing money
fee: noun [C] an amount of money paid for a particular piece of work or for a particular right or service
go through: phrasal verb to use a lot of something
purchase: noun FORMAL [C] something that you buy
perishable: adjective describes food that decays quickly
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(Nota Pessoal: Durante os anos 80 e 90 onde vivi nos Estados Unidos usei este serviço em várias oportunidades e contrariamente ao citado neste artigo nunca me foi estipulado um depósito de 10% sobre o valor do produto – Este método de compras para quem ainda tem duvidas é muito simples... você chega em uma loja escolhe qualquer produto seja de vestuário ou elétrico / eletrônico, faz um depósito – o que você possa deixar naquele momento e a loja neste momento retira a mercadoria e guarda até que você termine de pagá-lo – a loja não cobra juros por isto e você precisa a cada duas semanas (que é quando a maioria das pessoas recebem seus salários) fazer um pequeno pagamento – também não é estipulado um percentual de quanto você precisa pagar.... Uma outra coisa que eu me lembro é que houve ocasiões que eu não voltei à loja depois de 2 semanas por estar viajando a trabalho e ao retornar não fui constrangido pelo fato de ter pulado um pagamento.... – Aqui está uma ótima dica para os comerciantes Brasileiros!!!!!)

LEARNING IN THE NEWS XX - (For Beginners Level of Business English Students and Up)

At the Zenith of Solar Energy
Published on Business Week – by Neal Sandler
March 26, 2008, 1:20PM EST

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Israeli energy startup Zenith Solar is pioneering a "concentrated solar power" method that is up to 1,000 times more efficient than standard technology

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Rooftops all over Israel look strikingly similar: More than 1 million households in the nation of 7.1 million people have solar panels that produce hot water—a relatively simple technology that gained popularity after the 1973 Arab-Israeli war, when oil prices shot up sharply. As of the early 1990s, all new residential buildings were required by the government to install solar water-heating systems.
Yet despite Israel's sunny climate and early lead in solar heating, it has been slow in adopting more sophisticated solar technologies that produce electricity from sunlight. Now, with oil hovering near $100 a barrel, a local startup hopes to build on the country's early embrace of sun power to carve out a new clean-energy business.
Zenith Solar, based in Nes Ziona near Tel Aviv, is a pioneer in a new type of solar energy that uses mirrors and lenses to focus and intensify the sun's light, producing far more electricity at lower cost. Compared with traditional flat photovoltaic panels made of silicon, this so-called "concentrated solar power" technology has proved in tests to be up to 1,000 times more efficient. That puts it on the verge of being competitive with oil and natural gas, even without government subsidies.

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A Boost to Israel's Energy Supply

"Our goal is to utilize every suitable roof, backyard, and open space in Israel to turn households, hotels, and factories into net producers of electricity and thermal heat," says Roy Segev, the founder and chief executive of Zenith Solar. Founded in 2006, the startup has raised $5 million from a handful of private investors in Israel and the U.S. Now it's trying to raise an additional $10 million to $15 million to cover the cost of commercializing its technology.
The opportunity is compelling. Israel's National Infrastructure Ministry estimates solar panels for water-heating already satisfy 4% of the country's total energy demand. With technology like Zenith Solar's widely installed, the figure could jump to more than 16%—a big boost for a country now almost totally dependent on imported energy.
Zenith bought the rights to the solar technology from Ben-Gurion University and Germany's Fraunhofer Institute. A joint Israeli-German research team from the two organizations designed a working prototype, which consists of a 10-sq.-meter (107.6-sq.-ft.) dish lined with curved mirrors made from composite materials. The mirrors focus the sun's radiation onto a 100-sq.-centimeter (15.5-sq.-in.) "generator" that converts light to electricity. The generator also gives off intense heat, which is captured via a water-cooling system for residential or industry hot-water uses.

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Avoiding Costly Panels

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One of the biggest advantages of Zenith Solar's approach, especially in today's market, is its limited use of polysilicon. Skyrocketing global demand for traditional photovoltaic panels has led to a worldwide shortage of the material and lifted prices tenfold in the past four years.
"Photovoltaic material accounts for 80% of the cost of standard systems," says David Faiman, chief scientific officer at Zenith, and a 30-year solar-energy veteran who was part of the development team. "Our technology succeeds in reducing this to less than 10%, while at the same time obtaining very high efficiency."
After further refining the technology, Zenith plans in the coming months to take its first major steps toward commercialization. Two large-scale test installations are planned for this summer at a kibbutz and a factory. The company will put 86 of its 7-meter-high dishes on an acre of land at Kibbutz Yavne to provide the community of 250 families with more than a quarter of their energy needs. The second project will replace fuel oil used to produce heat at a large chemical plant in central Israel.

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Overseas Opportunities

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Once these projects are operational, Zenith plans to start commercial sales in Israel in 2009 and then to go abroad, says CEO Segev, a 46-year-old entrepreneur who is one of the growing number of Israel's high-tech elite getting involved in renewable energy.
The company is already planning a range of products that would be adapted for household, commercial, and industrial users—and even entire neighborhoods or communities. The price tag for a home-size unit is likely to be less than $20,000.
Zenith sees particularly large market opportunities in the U.S., Spain, Italy, Greece, India, and China. "In California alone, there are 6.9 million private homes that could potentially produce most or all of their own energy," Segev says. To compete abroad, the startup aims to link up with major energy players in other countries.
Until now, the Achilles' heel of solar panels has been the low efficiency of the cells that convert the sun's energy into electricity. Dozens of companies and research labs around the world have toiled to make photovoltaic competitive with other energy technologies, but so far, the best systems have an efficiency level of no more than 10%. As a result, solar panels are heavily subsidized by governments around the world.

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Making Solar Energy Competitive

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That's not a viable long-term solution. "Photovoltaic can't continue to exist on subsidies or it will remain a marginal form of energy," says Amit Mor, CEO of Eco-Energy, an Israeli energy consulting firm. Electricity produced by photovoltaics currently costs about 30¢ to 40¢ per kilowatt, he says. That's two to three times the average cost of power made from conventional fuels in the U.S. and Western Europe.
Concentrated solar power offers the hope of changing that equation. "The first generation of our technology should be capable of harnessing about 70% of the solar energy that hits the dish to produce electricity and thermal heat," says Faiman. With that type of efficiency, Zenith Solar says the cost of producing energy with its technology is close to that of conventional fuels.
It's too early to know whether Zenith Solar's technology will catch on the way solar water-heating did in Israel. But with the growing concern for global warming, and oil prices at record highs, the timing of the startup's entry into the market couldn't be better.
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Vocabulary

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Rooftops: the outer surface of a roof (telhado)
Strikingly: noticeable - attracting attention or notice through unusual or conspicuous qualities
shot up: (past of shoot up) rose dramatically
sharply: very suddenly and to a great degree
hovering: oscillating
carve out: To separate part of a company’s business, such as a product or division, from the company and turn it into a totally independent firm by selling shares in the new firm. (In this text: formatting)
on the verge: on the limit, on the borders
handful: a small quantity or number
composite: a solid material which is composed of two or more substances having different physical characteristics and in which each substance retains its identity while contributing desirable properties to the whole; especially : a structural material made of plastic within which a fibrous material (as silicon carbide) is embedded
polysilicon: Polycrystalline silicon (or polysilicon, poly-Si, or simply poly in context) is a material consisting of multiple small silicon crystals
Skyrocketing: to rise extremely quickly
Tenfold: by ten times as much
Entrepreneur: someone who organizes a business venture and assumes the risk for it (empreendedor)
Renewable: capable of being renewed; replaceable; "renewable energy such as solar energy is theoretically inexhaustible"
Achilles' heel: a seemingly small but actual mortal weakness
Toiled: (past of toil) same as worked
Harnessing: exploiting, using
thermal : relating to or associated with heat; "thermal movements of molecules"; "thermal capacity"; "thermic energy"; "the caloric effect of sunlight
heat: The noun heat is defined only during the process of energy transfer by conduction or radiation
conventional fuels: (easier explained in Portuguese: combustíveis convencionais)
catch on: become popular
record highs: The highest historical price level reached by a security, commodity or index during trading. The record high is measured from when the instrument first starts trading and updates whenever the last record high is exceeded. The values for record highs are usually nominal, which means they do not account for inflation.
the timing: the moment

LEARNING IN THE NEWS - XII (For Business English Students – Beginners Level and Up)

Communicating with Twentysomethings

by Camine Gallo
Published – BusinessWeek – Feb. 15,2008

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Here are five ways to successfully engage with Gen Y, whose members want to add meaning to their lives and to the world:

Gen Y is gaining attention (BusinessWeek.com, 1/9/08) for its participation in the 2008 Presidential primaries, voting in numbers not seen in decades. But the group's influence obviously isn't limited to politics. Some 30 million young people in their late teens to early 30s are expected to join the U.S. workforce by 2010. Effectively communicating with them will be crucial to your company's success.

Empowerment is what young people crave. I have spent the last two years interviewing dozens of business leaders who run companies that rely on employees in their teens and 20s. To a person, these leaders have learned that it's important to offer young people more than a paycheck and a free on-site massage. This group wants to know that its work is adding up to a great cause. They want to add meaning to their lives and to the world. The old command-and-control style of managing won't work with this generation. Lip service won't fly.

I've distilled five ways to engage them.

1. Don't manage, mentor. Jason Adelson, co-founder of the popular news gathering site Digg, says young employees have high expectations for themselves and their managers. Members of this group want to work for highly engaged managers who help them grow and develop their professional skills. "Younger workers are transforming the workplace from the get-rich-quick attitude of the '90s to a culture of empowerment and contribution," Adelson told me. "At the end of the day, these employees want to feel as if they are part of something extraordinary, and, more important, have contributed to its achievement."

While your primary goal might be to get projects accomplished on time and on budget, young people want to learn from you. Allocate more of your time to developing staff. Ask your younger employees about their goals and career ambitions. Is their position helping them achieve those dreams? If not, it is a manager's responsibility to help employees find the right roles where they have the best chance of success.

2. Don't assign, explain. Cold Stone Creamery is one of the largest franchises in the U.S. What sets it apart from other ice cream chains is simple. When customers throw a tip in the jar, employees sing a song. While the chain offers high-quality ice cream, its attraction is the experience. Most of its employees are teenagers. When I spoke to leadership at Cold Stone, they acknowledged that a 16-year-old doesn't dream of scooping ice cream into her 30s. The Cold Stone approach is to encourage them to use the position to learn life skills regardless of their chosen careers. Franchise owners and managers are trained to reinforce the idea that Cold Stone is "the best first job" they could ever have. Assignments don't work with Gen Y unless there's a reason behind them.

3. Don't dictate, solicit. Google's (GOOG) Marisa Mayer studied computer science at Stanford and brought an idea from academia to her new position: office hours. For 90 minutes each day beginning at 4 p.m., her staff can sign a sheet outside her office for a 15-minute impromptu meeting. At these meetings (BusinessWeek.com, 9/27/06), staffers voice opinions or pitch new ideas.
Mayer says some of Google's most innovative features have come from these office hours. Although these employees may have spent only a few minutes with Mayer, they leave knowing they have been heard and that their opinions matter.

4. Don't ignore, respond. Recently a reporter from the Newark (N.J.) newspaper The Star-Ledger asked me to talk about New York Giants head coach Tom Coughlin. Coughlin had come close to being fired early in the season but ultimately led his players to a Super Bowl upset victory over the undefeated New England Patriots. How did Coughlin turn everything around? He did something that is absolutely critical to get buy-in from young people: He empowered them and made them feel as though they were part of the building process.
Instead of ignoring the criticism leveled against him, Coughlin began to talk to his players with no clipboard and no agenda—just to listen. He also set up a council of veteran players to improve communication and to bring issues to his attention. According to defensive player Michael Strahan, Coughlin "adjusted" to his team by making them part of the decision-making process.

5. Don't conceal, communicate. Young people in business today crave feedback and interaction with their peers and managers, more so than previous generations did. When researchers at professional staffing firm Hudson (HHGP) conducted a survey of 2,000 employees, they found striking differences between generations in their attitudes toward their bosses and co-workers. Twenty-five percent of workers who fall into the Gen Y category consider it important to get feedback from their bosses at least once a week. However, only 11% of baby boomers desire that level of communication. Young employees also want greater social interaction with their peers and supervisors. Maintain an open, consistent dialogue and you will win their loyalty.
Young people fall into a category I call the "EmpowerME Generation" because that is exactly what they are asking from their employers—to be empowered. The 2008 election is proving that young people can be engaged when they feel as though they are making a difference. The same holds true in the workplace.

Carmine Gallo, a business communications coach and Emmy-Award winning former TV journalist, is the author of Fire Them Up! and 10 Simple Secrets of the World's Greatest Business Communicators.

Vocabulary:

Twentysomethings: of, relating to, or being a person who is in his or her twenties
Engage: involve in activity
Late teens: near the end of the teenager years (13-39), almost an young adult
Workforce: staff, the force of workers available
Empowerment: to give official authority or legal power to
Crave: to want greatly, to yearn for
Rely: to be dependent
Paycheck: a check in payment of wages or salary
Meaning: significant quality
Lip service won't fly: (o sentido disto seria +ou- a voz de comando só não é suficiente para leva-lo a lugar nenhum)
Don't manage, mentor: ( o sentido disto é: Não gerencie (somente), seja um mentor)
Gathering site: site de encontros
Achievement: the action of accomplishing something (realizações)
While: a period of time especially when short and marked by the occurrence of an action or a condition
might be: poderá ser ( mais fácil explicado em Português)
accomplished: successfully completed or brought to an end
on time: dentro do tempo previsto (mais fácil explicado em Português)
on budget: dentro do orçamento (mais fácil explicado em Português)
Allocate: distribute according to a plan or set apart for a special purpose
Goals: objectives
Roles: the actions and activities assigned to or required or expected of a person or group
sets it apart: to make noticeable or outstanding
chains: rede comercial - Business English (no Inglês coloquial seria corrente)
tip: a gift or a sum of money tendered for a service performed or anticipated : gratuity (gorjeta)
acknowledged: to disclose knowledge of or agreement with (neste contexto: reconhecem)
scooping: Present Continuous of Scoop - a large ladle; "he used a scoop to serve the ice cream"
approach: close approximation
skills: a learned power of doing something competently
regardless: no matte (independentemente de)
Assignments: a duty that you are assigned to perform
Unless: without the accompanying circumstance or condition that (a menos que)
Impromptu: made, done, or formed on or as if on the spur of the moment : improvised
pitch new ideas: dar novas idéias (gíria – mais facil explicado em Português)
being fired: (sendo despedido) being dismissed, being sacked, being laid off
led: Past and Past Participle of Lead - to guide someone or something along a way
Instead of: in place of someone or something else
set up: to establish
council: a group of people elected or chosen to make decisions or give advice on a particular subject
to improve: to make it better

issues: matters, subjects
conceal: to prevent something from being seen or known about; to hide something
feedback: information or statements of opinion about something, such as a new product, that provide an idea of whether it is successful or liked
peers: a person who is the same age or has the same social position or the same abilities as other people in a group
survey: an examination of opinions, behavior, etc., made by asking people questions
toward: in direction to
baby boomers: member of the baby boom generation in the 1950s - the larger than expected generation in United States born shortly after World War II
loyalty: the quality of being loyal (fidelidade)
The same holds true: O mesmo é verdade para... / O mesmo se aplica a..

(Although I find this text relatively easy to read and understand for Business English Students – Beginners Level; I decided to include many words (that I normally wouldn’t) in the Vocabulary Explanation List because I think this article is very interesting, it discuss a change in the business environment behavior and it should be read by all people in the Management Level.)