voa标准英语2008-Bush Administration Nears Decision on Helping Au
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President Bush on Thursday said he has not yet decided1 what government assistance to provide the distressed2 U.S. automobile4 industry. The president says he worries about the economic consequences that an automaker bankruptcy5 could cause. |
| President George W. Bush addresses the American Enterprise Institute in Washington, 18 Dec 2008 |
Mr. Bush said he is concerned about how an uncontrolled bankruptcy could affect the psychology6 of financial markets. He said he is also worried about putting good money after bad.
The administration is near a decision on what kind of government assistance to provided U.S. car companies. They have asked for $14 billion in loans to assure their survival.
"The president is not going to allow a disorderly collapse of the companies," said White House Press Secretary Dana Perino. "That is not an option. Some people have assumed that is one of things we would decide. That is not going to be the case."
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| Rows of cars sit on the lot at the Lordstown, Ohio General Motors plant as auto3 industry awaits news on bailout plan from Washington, 12 Dec 2008 |
In Detroit, the U.S. automotive capital, the mood is somber8. Chrysler - the weakest of the "Big Three" carmakers - is closing all of its U.S. assembly plants for a month, beginning next week. General Motors and Ford9 are also closing some plants beyond the usual two-week end of year production break. Unionized workers at the plants will continue to receive at least 85 percent of their pay, as stipulated10 in their contracts.
The credit squeeze and recession have caused U.S. car sales to plummet11 - down 37 percent in November, 25 percent for the year overall.
Jack12 Nerad is a marketing13 analyst14 for Kelley Blue Book, which keeps close watch on the auto industry.
"I think it is devastating," Nerad spoke15 to Bloomberg Television. "It is hard to overestimate16 the importance of this industry and the importance of what is going on right now. It is as if sales absolutely hit a wall in October. They're not recovering. And one of the major industrial corporations of the world-of all time [General Motors] could be on the brink17."
It is not just the U.S.-based auto industry that is suffering. Sales of British-made cars in the United Kingdom were down 33 percent in November. And Fiat18 in Italy is closing all of its production plants for one month because of lagging car sales in Europe.
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