voa标准英语2008-US Auto Companies Seek Government Aid for Failin

（单词翻译）

Chrysler is one of the US auto companies seeking a federal loan

With U.S. car sales at their lowest level in a quarter of a century, General Motors says it needs $4 billion before the end of this month. The largest of the so-called "Big Three" automakers, that also includes Ford⁵ and Chrysler, GM says its sales this year are down 22 percent, compared with an industry decline of 16 percent.

"GM, as many analysts⁶ point out, has very severe cash needs. They need the infusion⁷ as soon as possible," said Dennis Virag, who heads the Automobile⁸ Consulting Group.

Mike DiGiovanni, Director of Global Market Analysis at General Motors, says he is hopeful the industry will get its loans from Congress. He detects a spirit of cooperation between government, industry management and the auto workers union.

"I think it is doable with our partners. One of the positive things that has come out of this is a really good dialogue with the federal government and what our issues are, and some of the challenges we face," he said.

DiGiovanni and Virag spoke⁹ on Bloomberg Television.

Ron Gettlefinger, the head of the United Auto Workers, says his union is prepared to make concessions¹⁰ to cut industry costs.

"There's no question that we face some difficult challenges. Being honest, we've been saying for a long time that we're in a race to the bottom, a race to the bottom that workers in no country can win. Because there is always somebody else or somewhere else to go that pays less," he said.

The viability¹¹ plans submitted by the carmakers are generally being well received and the companies are expected to receive government loans.
　

FDIC Chairwoman Sheila Bair (file)

But Sheila Bair, who heads the Federal Deposit Insurance Corporation, the agency charged with safeguarding U.S. bank deposits, wonders where to draw the line because the government cannot help all needy¹² industries.

"Everybody is coming to Washington and wanting help. And picking winners and losers is a very difficult part of their [Congress and the Treasury¹³ Department's] job," she said.

But union leader Gettlefinger says the auto industry is different and more vital than most.

"I'm not sure where you draw the line. But let's just look at this. Let's look at the backbone¹⁴ of our economy, as Barack Obama describes it. Let's look at the millions of jobs that will be lost in this country if we lose this industry," he said.

Gettlefinger and the Big Three emphasize that American car companies, unlike banks and insurance companies, are seeking loans, not grants, and that their plight¹⁵ stems from the sudden, unpredicted decline in economic activity.