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(单词翻译:双击或拖选)
This is where money is made and lost. But with uncertainty1 about the stability of America's largest banks and mounting worries about the state of General Motors, today was all about loss. For the first time, General Motors has admitted their substantial doubt over whether their company will be able to survive.
On that announcement, shares in the US car giant, plunged2 almost 18%, dragging the market down with it, US stocks closed yesterday at their lowest levels for more than 12 years with the Dow Jones down more than 4%.
Investors3 fear that GM's demise4 will send shock waves through the US economy.
"The first and most immediate5 effect of, of a GM bankruptcy6 would be, uh, massive layoffs7, would be layoffs at General Motors and would also be layoffs throughout the whole chain, the whole supply chain of the auto8 industry. There have been a number of different estimates as to what that would be, but I think it's safe to say in an already weak job environment that would, you know, a bankruptcy of GM could create hundreds of thousands of new job losses over the next several months."
The sheer size of General Motors and the amount of money it says it needs to survive is mind-boggling; GM's posted losses of 82 billion dollars in the last three years. They've already borrowed 13 billion dollars from the US government to tide them over as they try to restructure the company, but now they say they need another 17 billion.
GM Europe which owns brands such as Saab and Vauxhall, is attempting to break free from its struggling parent company. They are asking the British government for 440 million pounds, the Spanish government for 600 million and an even greater sum from Germany.
But car sales across the globe are still nose-diving, if they are to secure the cash they so desperately9 need to survive, General Motors will need to convince Barack Obama and governments around the world that their business is still viable10.
Richard Suchet, Sky News
1 uncertainty | |
n.易变,靠不住,不确知,不确定的事物 | |
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2 plunged | |
v.颠簸( plunge的过去式和过去分词 );暴跌;骤降;突降 | |
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3 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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4 demise | |
n.死亡;v.让渡,遗赠,转让 | |
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5 immediate | |
adj.立即的;直接的,最接近的;紧靠的 | |
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6 bankruptcy | |
n.破产;无偿付能力 | |
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7 layoffs | |
临时解雇( layoff的名词复数 ); 停工,停止活动 | |
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8 auto | |
n.(=automobile)(口语)汽车 | |
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9 desperately | |
adv.极度渴望地,绝望地,孤注一掷地 | |
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10 viable | |
adj.可行的,切实可行的,能活下去的 | |
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