Business 2006-08-02

There could be more financial turbulence（金融动荡，市场动荡） ahead for Northwest Airlines. Gerri Willis is live in New York with more on that story, and also a wrap-up of today's trading. Hi, Gerri.

Hi, there, Melissa, good to see you, stocks fell today as the spectre of further interest hike spooked investors¹, prompting a bout² of selling（造成了一轮抛售）, another economic report showed that inflation is taking higher and that sets off new worries about what the Federal Reserve might do when it meets next week. Taking a look at the closing numbers, the Dow Industrials dropped 59 points as you can see right here, The NASQAQ slipped 29 points. Crude oil prices, meanwhile, continued to climb, oil closed up 51 cents, settling at 74.91 a barrel. And there is more trouble looming³ for Northwest Airlines, flight attendants（飞机上服务人员） for the bankrupt carrier say they have given the company notice that a 15-day count-down（最后15天期限） towards a possible strike has begun. The move comes after Northwest flight attendants rejected a wage cutting contract for the second time. A walkout（罢工=strike） would be Northwest's second strike in less than a year. The embattled(被敌人围困的，四面受敌的) airline mechanics went on（进行） strike a year ago after they refused to accept pay cuts. But the company hired replacement⁴ workers（替代员工，补充兵员）and flight operations were not disrupted that much. However, analysts⁵ say a strike by thousands of flight attendants could have a bigger impact. A spokesperson for Northwest maintains that a strike by the flight attendants will be illegal under the Railway Labor⁶ Act. Northwest flight attendants said they are the last of the company's unions without a wage cutting contract, Melissa.

Gerri, I know you don't have a crystal ball（占卜用的水晶球，预言未来的方法）, but combine bankruptcy⁷ and a strike, could that be fatal for Northwest?

Oh, many experts fear that it could be fatal, Melissa. Passengers do not want to be inconvenienced, and so if there are disruptions, the airline could lose loyal customers. One transportation expert says a strike could poison customers' attitudes towards the airline. Meanwhile, Northwest wants to save 1.4 billion dollars in labor cost as it reorganizes under chapter 11, and none of the agreements it has with other unions go into effect until all the unions agree to cost cutting plans.

Turning now to the auto⁸ industry, the big 3 US car makers⁹ reported their July sales today; the numbers don't paint a pretty picture. General Motors saw its 6 straight monthly decline. Sales of GM fell 23% compared to the same period last year when buyers took advantage of big discount programs. Meanwhile, Ford¹⁰'s sales tumbled 34% as rising gas prices hurt demand for SUVs(越野车) and pick-up trucks（皮卡）. And sales of Chrysler dropped 37%, US automakers saw very strong sales last summer you may remember. Thanks to aggressive incentive¹¹ plans（主动的刺激消费计划） which made for tough comparisons this year. Melissa.

Let's talk about this year, any really good incentive plans to look forward to?

Well, Ford's latest incentive plan has actually hit the end of the road. Its Drive-On-Us campaign with 0% financing and up to 5000 dollars in cash rebates（折扣=discount）on selected models was over yesterday. Now Ford is shifting to regional promotions¹³ in order to clear its 2006 inventory¹⁴. The automaker also plans to lower prices and introduce fresh designs to kick start sales of its 2007 models. The new lineup（阵容，系列） includes an updated version of the expedition SUV. Meanwhile, Chrysler is extending its employee discount program on most of its 2006 models. That promotion¹² was meant to expire yesterday but the automaker is extending it after Labor Day.

【WORLD BANK】
tumble
To drop:
Prices tumbled.
Chrysler
克莱斯勒汽车
kick start
to do something to help a process or activity start or develop more quickly
He urged further interest rate cuts in a bid to kick-start the economy.
Chapter 11
Chapter 11 is a chapter of the United States Bankruptcy Code which governs the process of reorganization under the bankruptcy laws of the United States. (The Bankruptcy Code itself is Title 11 of the United States Code; therefore reorganization under bankruptcy is covered by Chapter 11 of Title 11 of the United States Code.) In contrast, Chapter 7 governs the process of a liquidation¹⁵ bankruptcy.)
Chapter 11 is typically used for business bankruptcies¹⁶ and restructuring. It is not commonly used by individual consumers since it is far more complex and expensive to pursue. It allows businesses to reorganize themselves, giving them an opportunity to restructure debt and get out from under certain burdensome leases and contracts. Typically a business is allowed to continue to operate while it is in Chapter 11, although it does so under the supervision¹⁷ of the Bankruptcy Court and its appointees.

1 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

2 bout   

n.侵袭，发作；一次(阵，回)；拳击等比赛

参考例句：

• I was suffering with a bout of nerves.我感到一阵紧张。
• That bout of pneumonia enfeebled her.那次肺炎的发作使她虚弱了。

3 looming   

n.上现蜃景（光通过低层大气发生异常折射形成的一种海市蜃楼）v.隐约出现，阴森地逼近( loom的现在分词 )；隐约出现，阴森地逼近

参考例句：

• The foothills were looming ahead through the haze. 丘陵地带透过薄雾朦胧地出现在眼前。 来自《简明英汉词典》
• Then they looked up. Looming above them was Mount Proteome. 接着他们往上看，在其上隐约看到的是蛋白质组山。 来自英汉非文学 - 生命科学 - 回顾与展望

4 replacement   

n.取代，替换，交换；替代品，代用品

参考例句：

• We are hard put to find a replacement for our assistant.我们很难找到一个人来代替我们的助手。
• They put all the students through the replacement examination.他们让所有的学生参加分班考试。

5 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

6 labor   

n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦

参考例句：

• We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
• He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。

7 bankruptcy   

n.破产；无偿付能力

参考例句：

• You will have to pull in if you want to escape bankruptcy.如果你想避免破产，就必须节省开支。
• His firm is just on thin ice of bankruptcy.他的商号正面临破产的危险。

8 auto   

n.(=automobile)(口语)汽车

参考例句：

• Don't park your auto here.别把你的汽车停在这儿。
• The auto industry has brought many people to Detroit.汽车工业把许多人吸引到了底特律。

9 makers   

n.制造者，制造商（maker的复数形式）

参考例句：

• The makers of the product assured us that there had been no sacrifice of quality. 这一产品的制造商向我们保证说他们没有牺牲质量。
• The makers are about to launch out a new product. 制造商们马上要生产一种新产品。 来自《简明英汉词典》

10 Ford   

n.浅滩，水浅可涉处；v.涉水，涉过

参考例句：

• They were guarding the bridge,so we forded the river.他们驻守在那座桥上，所以我们只能涉水过河。
• If you decide to ford a stream,be extremely careful.如果已决定要涉过小溪，必须极度小心。

11 incentive   

n.刺激；动力；鼓励；诱因；动机

参考例句：

• Money is still a major incentive in most occupations.在许多职业中，钱仍是主要的鼓励因素。
• He hasn't much incentive to work hard.他没有努力工作的动机。

12 promotion   

n.提升，晋级；促销，宣传

参考例句：

• The teacher conferred with the principal about Dick's promotion.教师与校长商谈了迪克的升级问题。
• The clerk was given a promotion and an increase in salary.那个职员升了级，加了薪。

13 promotions   

促进( promotion的名词复数 )； 提升； 推广； 宣传

参考例句：

• All services or promotions must have an appeal and wide application. 所有服务或促销工作都必须具有吸引力和广泛的适用性。
• He promptly directed the highest promotions and decorations for General MacArthur. 他授予麦克阿瑟将军以最高的官阶和勋奖。

14 inventory   

n.详细目录，存货清单

参考例句：

• Some stores inventory their stock once a week.有些商店每周清点存货一次。
• We will need to call on our supplier to get more inventory.我们必须请供应商送来更多存货。

15 liquidation   

n.清算，停止营业

参考例句：

• The bankrupt company went into liquidation.这家破产公司停业清盘。
• He lost all he possessed when his company was put into liquidation.当公司被清算结业时他失去了拥有的一切。

16 bankruptcies   

n.破产( bankruptcy的名词复数 )；倒闭；彻底失败；（名誉等的）完全丧失

参考例句：

• It's a matter of record that there were ten bankruptcies in the town last year. 去年这个城市有十家破产是事实。 来自《简明英汉词典》
• Business bankruptcies rose 50 percent over the previous year. 破产企业的数量比前一年增加５０％。 来自英汉非文学 - 政府文件

17 supervision   

n.监督，管理

参考例句：

• The work was done under my supervision.这项工作是在我的监督之下完成的。
• The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。