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(单词翻译:双击或拖选)
Auto1 executives testify before a Senate Banking6 Committee hearing on Capitol Hill, 04 Dec. 2008 |
Ford7, Chrysler and General Motors executives are seeking a total of $34 billion in emergency loans to deal with the current economic downturn that has seen a steep drop in automobile sales worldwide.
Two weeks after members of Congress criticized the automakers for not doing enough to make their companies more competitive and economically viable8, the executives returned with plans to streamline their operations, as lawmakers had requested.
In testimony9 before the Senate Banking Committee, President and Chief Executive Officer of the Ford Motor Company, Alan Mulally, sounded a note of humility10.
"You were clear that the business model has to change. I couldn't agree more," he said.
Each executive detailed11 how he planned to make his company more efficient and profitable.
"Key highlights include a renewed and expanded commitment to new technologies, especially advanced propulsion and green jobs, increased production of fuel-efficient vehicles, a reduction in the number of brands, models and retail12 outlets13 so we can focus our resources," said Richard Wagoner, Chairman and CEO of General Motors.
As the executives appealed for federal aid in return for streamlining their companies, other witnesses warned of dire14 consequences if Congress does not approve the funding.
UAW President Ron Gettelfinger testifies on Capitol Hill, 04 Dec 2008 |
Ron Gettelfinger, President of the United Auto Workers union, said the carmakers, particularly General Motors, would fail without an immediate15 loan.
"I believe we could lose General Motors by the end of this month," said Gettelfinger.
Mark Zandi, Chief Economist16 and co-founder of Moody's Economy.com, warned of dire consequences if that happened.
"Bankruptcy17 at this point in time would be cataclysmic for the economy at this time," he said.
Senate Banking Committee Chairman Christopher Dodd, a Connecticut Democrat18, expressed his own concern as he made the case for approving the federal aid.
"Inaction is no solution. Inaction would only add more uncertainty19 and instability to our economy," he said.
But Senator Richard Shelby of Alabama, the top Republican on the committee, expressed skepticism that a federal rescue package would promote the necessary change in how the auto companies are run.
"Every time government endeavors to alter any of these dynamics20, it undermines and distorts the forces at work in all of them. I believe this can impose a cost that is too high to pay," he said.
Congress could vote on aid to automakers when it returns for a brief post-election session next week.
In the meantime, the three auto executives are to return to Capitol Hill on Friday to testify before a House committee.
The executives drove the 840 kilometers from Detroit, Michigan to Washington in hybrid21 cars, after they were sharply criticized by lawmakers for making their last trip in corporate22 jets.
1 auto | |
n.(=automobile)(口语)汽车 | |
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2 automobile | |
n.汽车,机动车 | |
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3 vowing | |
起誓,发誓(vow的现在分词形式) | |
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4 streamline | |
vt.使成流线型;使简化;使现代化 | |
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5 beleaguered | |
adj.受到围困[围攻]的;包围的v.围攻( beleaguer的过去式和过去分词);困扰;骚扰 | |
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6 banking | |
n.银行业,银行学,金融业 | |
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7 Ford | |
n.浅滩,水浅可涉处;v.涉水,涉过 | |
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8 viable | |
adj.可行的,切实可行的,能活下去的 | |
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9 testimony | |
n.证词;见证,证明 | |
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10 humility | |
n.谦逊,谦恭 | |
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11 detailed | |
adj.详细的,详尽的,极注意细节的,完全的 | |
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12 retail | |
v./n.零售;adv.以零售价格 | |
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13 outlets | |
n.出口( outlet的名词复数 );经销店;插座;廉价经销店 | |
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14 dire | |
adj.可怕的,悲惨的,阴惨的,极端的 | |
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15 immediate | |
adj.立即的;直接的,最接近的;紧靠的 | |
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16 economist | |
n.经济学家,经济专家,节俭的人 | |
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17 bankruptcy | |
n.破产;无偿付能力 | |
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18 democrat | |
n.民主主义者,民主人士;民主党党员 | |
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19 uncertainty | |
n.易变,靠不住,不确知,不确定的事物 | |
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20 dynamics | |
n.力学,动力学,动力,原动力;动态 | |
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21 hybrid | |
n.(动,植)杂种,混合物 | |
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22 corporate | |
adj.共同的,全体的;公司的,企业的 | |
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