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(单词翻译:双击或拖选)
In a dramatic move aimed at preventing the US auto1 industry from imminent2 collapse3, President Bush announced that the government will provide about 17.4 billion dollars and low interest loans to General Motors and Chrysler. Bankruptcy4 by any of the Big Three, he said, would almost guarantee failure.
Given the current state of the auto industry and the economy, Chapter 11 is unlikely to work for American auto makers5 at this time.
Ford6 in a statement said its liquidity7 is adequate and didn't need a government loan, but Rick Wagoner, the CEO of the General Motors said his company would access billions of loan dollars immediately and will now focus on fully8 implementing9 its restructuring plan.
People, will be, should have a lot of confidence that, not only General Motors, but the US industry is on the right path, and as we execute the plans we’ve laid out, that the future of the industry could be extremely bright.
Well, many conservative Republicans criticize the auto bailout is throwing good money after bad. President-elect Barack Obama had a news conference in Chicago announcing his latest cabinet choices, called President Bush's move "A necessary step" for the auto industry.
“They should seize on this opportunity over the next several weeks and months to come up with a plan that's sustainable, and that means they're gonna have to make some hard choices.”
In fact, the three-year loans to GM and Chrysler come with conditions, such as requiring the companies to prove by March 31st, that they can become viable10.
Efiaim Levy11 is an equity12 auto industry analyst13 at Standard & Poor’s.
"No matter what that viability14 plan is, its gonna take significant additional funding come March 31st to get these companies through 2009."
That's a prospect15 that Barack Obama will soon confront when he takes on the problems of the auto makers upon taking office in just one month.
John Deckers, Reuters.
1 auto | |
n.(=automobile)(口语)汽车 | |
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2 imminent | |
adj.即将发生的,临近的,逼近的 | |
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3 collapse | |
vi.累倒;昏倒;倒塌;塌陷 | |
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4 bankruptcy | |
n.破产;无偿付能力 | |
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5 makers | |
n.制造者,制造商(maker的复数形式) | |
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6 Ford | |
n.浅滩,水浅可涉处;v.涉水,涉过 | |
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7 liquidity | |
n.流动性,偿债能力,流动资产 | |
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8 fully | |
adv.完全地,全部地,彻底地;充分地 | |
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9 implementing | |
v.实现( implement的现在分词 );执行;贯彻;使生效 | |
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10 viable | |
adj.可行的,切实可行的,能活下去的 | |
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11 levy | |
n.征收税或其他款项,征收额 | |
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12 equity | |
n.公正,公平,(无固定利息的)股票 | |
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13 analyst | |
n.分析家,化验员;心理分析学家 | |
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14 viability | |
n.存活(能力) | |
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15 prospect | |
n.前景,前途;景色,视野 | |
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