EnglishPod

The Office - Bad news, boss. #D0108

A: ... Now that we have been over the gory details of our disastrous first quarter, Ed! Give us some good news. How are things looking for us in terms of sales this month?

B: Uh well...would you like the bad news first or the really bad news?

A: What? Ed, don’t tell me you only have bad news!

B: Well sir, our sales have dropped, no plunged, fifty percent in the past month alone. We are currently overstocked and overstaffed and our profits are falling fast. The market is in recession and we have no way of moving our inventory, or getting rid of our staff. If we consider redundancies, it would cost us a fortune because of the new regulations governing compensation packages. It’s a real mess.

A: For crying out loud... How fast are we losing money?

B: Um...how can I put this? Let’s just say that at this pace, we will be filing for Chapter eleven in less than three months.

A: What! Geez! How could this have happened? So what’s the bad news?

B: Oh, that’s the really bad news. Our supplier suffered QC problems and, well, half of our production is faulty. We’re going to have to recall all items sold in the last quarter. And the worst part? We’re going to have to shoulder this cost.

A: Are you joking? Get the supplier on the line now! They have to assume the costs of this mess!

B: We tried that, sir. The factory has gone under and the owner apparently has fled the country.

A: We’re doomed!

B: There is some really good news though!

A: Really? What!

B: I got offered a new job!

Key Vocabulary

gory details - all the small details

lay it on me - tell me the bad news

plunge - drop down suddenly and quickly

disastrous - very bad; having bad results

in terms of - regarding, about

(be) overstocked - having too many things to sell

(be) overstaffed - have too many employees

inventory - the amount of products you have to sell

get rid of - remove or take away something that is annoying

redundancies - layoffs; ending employment of staff for money reasons

shoulder the cost - be responsible for the cost

govern - rule

for crying out loud - used to express anger or annoyance

chapter elven - bankruptcy; owing more money than you can pay

quality control - the process of controlling the quality of production (quality control)

Supplementary Vocabulary

broke - having no money (informal)

hit rock bottom - the lowest possible level or absolute bottom

margin - the minimum return below which an enterprise becomes unprofitable

revenue - the entire amount of income before any deductions are made

skyrocket - cause to rise rapidly and suddenly