Unit 7Can Detroit Be Retooled — Before It's Too Late? Exercises1. Answer the questions on the text:1) what is the problem the would-be car buyers may face according to RodBuscher, CEO of Summit Automotive Partners in Denver?The would-be buyers lack either the income or the access to credit that would allow them to drive a new car off the lot.2) Why is GM said to have a stark and steep job to do when the President’sauto task force presented the to-do list?According to the list GM has to shrink labor costs, including retiree health-care expenses; slash debt; kill or sell low-performing brands; and reduce the number of models for sale and the number of dealers selling them. Should all the parties concerned fail to accomplish that by the deadline of June 1, GM may go into bankcruptcy.3) How can U.S. automakers take advantage of the coming car boom?Companies that can meet consumers' needs for fuel-efficient yet stylish cars —and that have flexible manufacturing plants to turn out the hot products on demand —are likely to find huge opportunities for growth in the coming car boom.4) What does the White House’s auto-task-force working group plan to do withChrysler?It plans to close the deal on Chrysler's sale to Fiat. Ron Bloom, one head of the group, has taken the lead in trying to negotiate the sale of 20% (at least initially) of Chrysler to Fiat.5) What is VEBA approach to solve GM’s problem of retiree health andpension benefits?In a VEBA, the union agrees to accept a cash payment to fund a new health-care system that trustees administer, thus taking future liabilities off the company's books.6) Why does the UAW feel particularly aggrieved about the task force'sapproach?Because it has agreed to an unending series of givebacks over the past 20 years.Even before this latest crisis, the UAW’s agreement to the 2007 contract would have put Detroit's labor cost per car within a couple of hundred dollars of Toyota's and the other foreign automakers’.7) Why are analysts so optimistic about the future car sales?Because Americans have been putting off buying cars for nearly two years and showroom traffic is increasing ,which means pent-up demand is building.The prospect of car sales is sure to be great when credit starts to loosen as historyindicates.8) What are the elements that make analysts believe North American demandfor cars will approach 16 million units within five years from the year 2009?The elements include the replacement demand, scrappage rates, demographic changes and an economic recovery.9) What are the competitive GM brands mentened in the passage?They are award-winning Chevy Malibu and the 2009 Buick LaCrosse, which recently topped all midsize competitors in dependability ratings.10) What competition will the US car industry face in the near future?The US car industry will have to win millions of buyers’ recognition for theirbrands, and try to play better in the competition with companies in Asia, such as China's Chery Automobile and India's Tata Motors, as well as the established players like Volkswagen and Hyundai-Kia.2. Fill in each blank of the following sentences with one of the phrases in the listgiven below:1) With his expanding wireless broadband plan, Obama wants to usher everyAmerican into the 'Digital Age'.2) School activities start winding down about two weeks before the end ofsemester.3) The man said he couldn't come up with an appropriate answer just at the time.4) Everybody is sure that the ceaseless dripping of water will in the end hollow outa stone.5) The progressive movement, which had already brought important changes infederal policies, stood on the verge of culmination and fulfillment6) The state has suffered so much loss. The smugglers should never be allowed toget off easy.7) After production expansion, this company now can turn out a million televisionsets a month.8) The preeminent writer's personal appearance picked up the sales of the bookconsiderably9) The newly announced credit policy may help many family-owned businesses getthrough the tough times at present..10) The government has imposed drastic economic controls to choke off inflation.11) To execute full-cost accounting, companies must account for the true cost of theirproducts.12) Economists are not so optimistic because there is no sign that the recession hasbottomed out.3. Match the terms in column A with the explanations in column B:A B1) bondholder a) A measure of a company's financial health,whichequals cash receipts minus cash payments over agiven period of time. 62) creditor b) A financial asset whose value has fallensignificantly and which fails generate cashflowand is worth much less than expected. 73) dealership c) An entity (person or institution) that extendscredit by giving another entity permission toborrow money if it is paid back at a later date. 2 4) health-care expenses d) A unit specially organized to work on a singledefined task 105) manufacturing capacity e) A business company that is owned or controlledby another larger company 96) net cash flow f) A person owning a bond or bonds issued by agovernment or a public company 17) bad asset g) Money used for the preservation of mental andphysical health by preventing or treating illnessthrough services offered by the healthprofession 48) hot products h) Volume of products or services that can begenerated by a production plant or enterprise ina given period by using current resources. 59) subsidiary# i) A business established or operated under anauthorization to sell or distribute a company’sgoods or service in a particular area 310) task force j) Products that are extremely populous amongconsumers and normally sell like hot cakes inthe market. 84.Translate the following into Chinese:凭借这股势头，现代集团正加快从生产线上推出新车型的速度。