Business Channel 2007-05-16&18

This was the company that merged¹ with Daimler about 9 years ago hasn't been awfully² successful. The company paid more than 30 billion dollars back, then, this deal was for 7. 4 billion dollars for 80% of the company. In effect, Chrysler is coming home the name will change, Daimler Chrysler will change back to Daimler AG and, and there is some sense that savings³ can be achieved and Chrysler can get back on a road to health. Here in the United States, even the unions are supporting this deal, there have been a number of suitors about two months ago on Valentine's Day. Daimler Chrysler had announced it was, it was looking for a buyer for Chrysler. This deal has been done. It's the first time a deal of this size has been done, where a private equity⁴ firm, a firm that doesn't have to report to shareholders⁵ in any public way is taking over something as major as a, as a big car company like this. But there are some sense as the sunrises here in O'BRIEN. This might actually be a new future for Chrysler. Chrysler is a company that is still heavily dependent on its truck unit and while it hasn't done as badly overtime⁶ as the other Detroit-based automakers. The delayed response in, in layoffs⁷ that were announced earlier this year indicated that Chrysler is in trouble. It's bleeding money and needs to have a better outcome. Unclear yet, how it's going to change the CEO and president Tom LaSorda under this agreement is staying on at least for some time and there're no further job cuts. 13, 000 job cuts were announced earlier this year. But the sense around here is that this new leadership at Chrysler might be what it needs to turn it around. Chrysler is coming home to the United States again. Daimler Chrysler will become Daimler and this will become Chrysler Holdings Corporation. Todd.

Ali, as we are all aware, you know, private equity firms, they don't tend to take a long-term view, they're trying restructure and then sell it on to somebody else. Er, there is a lot of fear you know, you say, the union's welcomed this because of their erratic⁸ past. There is a lot of fear about a belt-tightening and what that mean, might mean for jobs. You know my question is you know, my question is what can they do that hasn't been done because you know, you have a structural⁹ problem here in the sense that the Japanese automakers are just that much more efficient. In this sense, they have the cars that, that Americans want, so why does this private equity firm think they can accomplish but Chrysler hasn't been able to accomplish?

Yeah, you perfect question there, there are three things that the Japanese automakers have: One, is they got the cars that Americans are buying; Two, is they don't have those legacy¹⁰ costs, the health-care costs that the US automakers are saddled with in Chrysler's case about 19 billion dollars worth of liability. And they have a price advantage because there are not unionized staffs, they, by depending on how you calculate it, it could be 30 bucks¹¹ an hour as a price advantage. How. . . where do these savings come from, it's unclear. In Tom LaSorda's words the present CEO of Chrysler he says Chrysler will be better positioned to focus on its long-term plan for recovery rather than just short term result. Ironically what he means is that the short term result that shareholders look at, the quarterly results that haven't been showing from Chrysler. They are thinking Cerberus is going to be able to take a longer term view of that. You're right. These private equity firms aren't looking for the longest term view where they may be able to take something more than a quarterly view, allowing them to turn this around. This is what these private equity firms do as you said, they buy this company, they turn them around and they get rid of it. There is no sense that the private equity firms are looking to be in the car business for any long period of time.

1 merged   

（使）混合( merge的过去式和过去分词 )； 相融； 融入； 渐渐消失在某物中

参考例句：

• Turf wars are inevitable when two departments are merged. 两个部门合并时总免不了争争权限。
• The small shops were merged into a large market. 那些小商店合并成为一个大商场。

2 awfully   

adv.可怕地，非常地，极端地

参考例句：

• Agriculture was awfully neglected in the past.过去农业遭到严重忽视。
• I've been feeling awfully bad about it.对这我一直感到很难受。

3 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

4 equity   

n.公正，公平，（无固定利息的）股票

参考例句：

• They shared the work of the house with equity.他们公平地分担家务。
• To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

5 shareholders   

n.股东( shareholder的名词复数 )

参考例句：

• The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
• the company's fiduciary duty to its shareholders 公司对股东负有的受托责任

6 overtime   

adj.超时的，加班的；adv.加班地

参考例句：

• They are working overtime to finish the work.为了完成任务他们正在加班加点地工作。
• He was paid for the overtime he worked.他领到了加班费。

7 layoffs   

临时解雇( layoff的名词复数 )； 停工，停止活动

参考例句：

• Textile companies announced 2000 fresh layoffs last week. 各纺织公司上周宣布再次裁员两千人。
• Stock prices broke when the firm suddenly announced layoffs. 当公司突然宣布裁员时，股票价格便大跌

8 erratic   

adj.古怪的，反复无常的，不稳定的

参考例句：

• The old man had always been cranky and erratic.那老头儿性情古怪,反复无常。
• The erratic fluctuation of market prices is in consequence of unstable economy.经济波动致使市场物价忽起忽落。

9 structural   

adj.构造的，组织的，建筑（用）的

参考例句：

• The storm caused no structural damage.风暴没有造成建筑结构方面的破坏。
• The North American continent is made up of three great structural entities.北美大陆是由三个构造单元组成的。

10 legacy   

n.遗产，遗赠；先人(或过去)留下的东西

参考例句：

• They are the most precious cultural legacy our forefathers left.它们是我们祖先留下来的最宝贵的文化遗产。
• He thinks the legacy is a gift from the Gods.他认为这笔遗产是天赐之物。

11 bucks   

n.雄鹿( buck的名词复数 )；钱；（英国十九世纪初的）花花公子；（用于某些表达方式）责任v.（马等）猛然弓背跃起( buck的第三人称单数 )；抵制；猛然震荡；马等尥起后蹄跳跃

参考例句：

• They cost ten bucks. 这些值十元钱。
• They are hunting for bucks. 他们正在猎雄兔。 来自《简明英汉词典》