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(单词翻译:双击或拖选)
Two US automakers say they need billions more of government money in order to survive.
GM sign sits in front of a long line of unsold 2009 Escalades at a Cadillac dealership2 in Denver, Colo. 10 Feb 2009
General Motors and Chrysler say they need billions more from the government merely to survive until the end of March. The size of the requests were far bigger than expected.
Chrysler, the smallest US car maker1, says it needs an additional $5 billion. General Motors, after Toyota the world's biggest car company, says it requires $2 billion by March 1. Together with the money already borrowed, GM is asking for $30 billion from US taxpayers3.
Company president Fritz Henderson says that figure is far less than what taxpayers would pay in the event of the company seeking bankruptcy4 protection.
"The additional financing requirement for the US government [with bankruptcy] would be $50 to $60 billion more, than the out of court process [of bankruptcy]," said Fritz Henderson. "And if you actually tally5 up the incremental6 requirements for foreign governments [where GM has plants] that would likely be required, the size of the incremental financing in order to operate General Motors at peak while in a traditional Chapter 11 [bankruptcy] process would be close to $100 billion."
Chrysler logo
Both companies said they are closing more plants and laying off more workers. They have reached a contract agreement with the autoworkers union but terms of the concessions7 were not revealed.
US car companies pay far more in wages and benefits than foreign car companies operating in the United States. GM chief executive officer Rick Wagoner was asked if his company is considering selling its profitable operations in China.
"China is really fundamental to our future," said Wagoner. "And so I think that would be a very tough call for us to make. We've not had any conversations along those lines."
Wagoner did suggest that GM's European operations might be sold, but he said no prospective8 buyers have come forward.
Car companies worldwide are enduring their worse sales slump9 in a quarter century as the financial crisis has caused buyers to cut back. Both GM and Chrysler say they expect the market to remain distressed10 for all of this year and into 2010.
1 maker | |
n.制造者,制造商 | |
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2 dealership | |
n.商品特许经销处 | |
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3 taxpayers | |
纳税人,纳税的机构( taxpayer的名词复数 ) | |
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4 bankruptcy | |
n.破产;无偿付能力 | |
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5 tally | |
n.计数器,记分,一致,测量;vt.计算,记录,使一致;vi.计算,记分,一致 | |
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6 incremental | |
adj.增加的 | |
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7 concessions | |
n.(尤指由政府或雇主给予的)特许权( concession的名词复数 );承认;减价;(在某地的)特许经营权 | |
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8 prospective | |
adj.预期的,未来的,前瞻性的 | |
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9 slump | |
n.暴跌,意气消沉,(土地)下沉;vi.猛然掉落,坍塌,大幅度下跌 | |
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10 distressed | |
痛苦的 | |
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