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[第二册] 阅读练习:通用再次公开出售股票

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发表于 2010-8-28 15:43 | 显示全部楼层 |阅读模式
GM to Test Investors' Hunger for Risk With Stock Offering

This is the VOA Special English Economics Report.

America's biggest carmaker accepted fifty billion dollars in federal aid from the Obama and Bush administrations. People joked that GM meant "Government Motors." Now, General Motors could be on the road to recovery.

The company recorded over two and a half billion dollars in profit in the first half of the year. The government still owns sixty-one percent of GM as a result of the bailout. Canada is also a shareholder. But now GM plans to sell stock to the public again.

GM spent just forty days in bankruptcy. It sought protection from its creditors in June of last year. GM restructured. It discontinued some vehicles and closed dealerships and factories.

In April, GM repaid almost seven billion dollars in government loans. Many of its creditors are waiting to see how much they get.

GM plans an IPO, an initial public offering of stock, later this year. The company could raise as much as fifteen billion dollars.

Chief executive Edward Whitacre is leaving September first. He wants the government to sell all of its shares in the company during the IPO. Many experts believe the Treasury will act slowly over time after the public offering is completed.

If the stock price rises, the government could profit from the rescue. But the IPO is risky for the company. The offering will test the willingness of investors to take an equity share in the "new GM."

Buying equity is not like buying bonds. Bonds represent a loan. Equity represents ownership. Investors willing to buy equity shares in a company expect one thing -- growth.

GM believes it can make that happen, in part with a new electric-and-gas hybrid.

COMMERCIAL: "Chevy Volt, a car that can go up to forty miles before it uses any gas at all. That's an American revolution."

The Volt is expected to start arriving in showrooms later this year.

GM is also looking overseas. The world's fastest growing car markets are in developing nations. GM is now selling more cars in China than in the United States. GM still leads the American market, though Toyota is now the biggest car company in the world.

There are signs that America's big three may have put the worst of their recent troubles behind them.

Chrysler also went through bankruptcy and says its sales are up. Italy's Fiat holds a twenty percent share.

Ford Motor Company avoided bankruptcy and refused government help. Ford reported close to five billion dollars in profit for the first six months of the year.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.
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 楼主| 发表于 2010-8-28 15:44 | 显示全部楼层
这里是VOA特别英语经济报道。

美国最大的汽车制造商从布什政府和奥巴马政府获得了高达500亿美元的联邦救助。人们开玩笑称GM的意思是“Government Motors”(政府汽车)。现在,通用汽车逐渐走上复兴之路。

今年上半年,该公司报告盈利超过25亿美元。由于救助计划,政府目前仍然持有通用汽车61%的股权。加拿大也是股东之一。但是现在,通用计划再次向公众出售股票。

GM的破产只花费了40天的时间。该公司在去年的6月份寻求破产保护。GM进行了重组,终止了某些车型的生产,取消了一些经销权,关闭了一些工厂。

四月份,GM偿还了接近70亿美元的政府贷款。关于债权人可以得到多少,他们正在拭目以待。

GM计划在今年晚些时候发行首次公开募股(Initial Public Offerings,简称IPO)。他们可以筹集高达150亿美元的资金。

董事长惠特克(Edward E. Whitacre)将在9月1日卸任。他希望政府在首次公开募股期间政府出售所有GM股票。许多专家认为,在公开募股完成之后,财政部的行动将会非常缓慢。

如果股价上升,政府将从这次拯救中获益。但是对于通用汽车公司来说,IPO是有风险的。募股将检测投资者购入“新通用”普通股的意愿。

购买股票并不像购买债券。债券代表贷款。股票代表所有权。购买普通股的投资者希望看到公司增长。

通用汽车相信他们可以通过一种电力和天然气混合动力车来实现这一点。

广告:“通用Chevy Volt汽车,只用电力就可以走40英里。这是美国的一场革命。”

VOLT汽车预期今年晚些时候将开始抵达展览厅。

GM也在拓展海外市场。这个增长最快的汽车制造商已经扩展到发展中国家。现在,GM在中国销售的汽车已经超过在美国的销量。GM仍然领导着美国市场,尽管丰田汽车是目前世界上最大的汽车制造商。

有迹象表明,美国三大汽车制造商已经度过了最糟糕的时刻。

克莱斯勒也度过了破产,并实现了销量上涨。意大利的菲亚特拥有克莱斯勒20%的股权。

福特汽车避免了破产,并拒绝了政府帮助。今年的前六个月,福特汽车报告实现接近50亿美元的盈利。
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 楼主| 发表于 2010-8-28 15:44 | 显示全部楼层
1.profit n.利润, 收益, 赢利

例句:It's profit you're after.
      你所追求的是利润。

益处, 得益, 好处, 裨益

例句:What's the profit of doing that?
      做那件事有什么好处呢?

2.bailout n.紧急援助,企业救济

3.creditor n.债权人;债主

例句:When are distributions likely to be made to creditors?
      最可能什么时候支付给债权人?
  
      They agreed to repay their creditors over a period of three years.
      他们同意3年内向债主还清欠款。

4.discontinue vt.vi.(使)终止,中断,中止

例句:They threatened to discontinue buying it.
      他们威胁说要终止这桩买卖。

5.test vt.测验, 考查, 检查, 检验

例句:I'll test my judgement.
      我要考查一下自己的判断能力。

考验

例句:Your patience is tested by time.
      时间将考验你的耐心。

6.equity n.普通股
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 楼主| 发表于 2010-8-28 15:44 | 显示全部楼层
1.Now, General Motors could be on the road to recovery.

could表示猜测

could的用法
(1) could表示主语的能力,为can的过去时形式,如:
Daisy couldn't come yesterday because she was ill.
戴西昨天不能来是因为她病了。
They said they could swim. 他们说他们会游泳。
(2) could表示说话人的猜测(即可能性)。如:
He could be right. 他或许是对的。
Could it be Henry? 可能是亨利吗?
At that time we thought the story could not be true.
那时我们认为所说的事不可能是真的。
(3) could表示许可。如:
Father said I could swim in the river.
爸爸说我可以在河里游泳。
Could I help you? 我能帮忙吗? (比Can I help you?婉转)
The man asked if he could smoke in the hall.
那个人问可不可以在大厅里吸烟。
(4)“could 完成式”用于肯定句时一般表示过去可能完成却未完成的动作。如:
I could have reported you. 我本可以报告你的。
You could have let me know earlier. 你本来该早一些告诉我。

2.The government still owns sixty-one percent of GM as a result of the bailout.

as a result of由于…的结果

例句:He was injured as a result of boiler explosion.
      他因锅炉爆炸而受伤。

3.GM plans an IPO, an initial public offering of stock, later this year.

IPO(Initial Public Offering)即是股票对公众的初始出售,也就是我们一般所说的上市。当这些股票最初以报出价格在一级市场发行之后

就在二级市场交易。一级市场由将股票分配给机构或个人投资者的承销商组成。一级市场本质上代表了公司股票在股票市场(NASDAQ, AMEX, NYSE, OTC)正式交易前发生的一切。

4.Many experts believe the Treasury will act slowly over time after the public offering is completed.

over time随着时间的过去,随着时间的推移

例句:the lake shallowed over time.
      随着时间的流逝,那个小湖变浅了。

5.GM believes it can make that happen, in part with a new electric-and-gas hybrid.

in part部分地,有些,在某种程度上
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