To be sure, some activist strategies would be tin-eared in the current climate.
It would be foolish, for instance, to force a company to shrink its balance-sheet and return cash to shareholders when companies are desperate to conserve whatever resources they have.
Hostile takeovers may be off the table, too. They would be a distraction that companies fighting for survival in the midst of a pandemic do not deserve, even if they would benefit from a friendly approach.
Proxy campaigns to replace board members in this year’s annual general meetings (agms) also have their drawbacks: they are expensive; many agms will be held virtually because of social distancing; and shareholders have more pressing questions for executives than bickering over board membership.
Activists will struggle to make their voices heard.
這是《經濟學人》2020年4月刊的一篇文章'Slumbering serpents'第6段，共5句。
1、
這句話關鍵在於'tin-eared',意思是“充耳不聞”，聯繫本段最後一句的意思，那麼這句話翻譯為：可以確定的是，在如今的環境下一些激進策略家是沒什麼話語權的。
2、
{'shrink':'縮水，縮小'}
{'conserve':'節約、保存'}
例如，當公司迫切希望節省其擁有的任何資源時，強迫公司縮減資產負債表並向股東返還現金將是愚蠢的。
3、
{'Hostile':'敵對的'}
off the table：不予考慮，私底下
{'distraction':'分散、分心'}
敵意的收購也是不予考慮的。即便他們能夠從這起友好的合併中受益，這也會導致在大流行中期抵抗的企業分散注意力，這並不值得。
4、
{'Proxy':'代理，替代'}
{'drawbacks':'不利條件'}
{'bickering':'爭吵'}
在今年的年度股東大會中變更董事成員的代理制行為也有一些問題：成本高昂；由於社交距離導致許多股東大會線上進行；相對於為成員資格爭吵不休來說股東們對高管們提出了更急迫的問題。
5、
激進的投資者正努力使自己有話語權。
--總結--
【詞彙部分】
{'shrink':'縮水，縮小'}
{'conserve':'節約、保存'}
{'Hostile':'敵對的'}
off the table：不予考慮，私底下
{'distraction':'分散、分心'}
{'Proxy':'代理，替代'}
{'drawbacks':'不利條件'}
{'bickering':'爭吵'}
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