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for today's video of Oh Cam Lesson.
We're going to finish our two parts Siris on bankruptcy by looking at G.
M's impending Chapter 11 filing.
First, we'll hear a short article introducing the topic.
Then we'll go over each word in detail with some example sentences to show you how to use the words at the end of the video, you'll have a chance to review and practice your new vocabulary.
General Motors and Chrysler LLC face a Tuesday deadline to file restructuring plans to the government in exchange for receiving $17.4 billion in federal loans.
Automakers have struggled as U.
S auto sales have tumbled amid a recessionary economy.
Auto sales in January tumbled to a 27 year low.
GM has been in talks with bondholders and the United Auto Workers union to get an agreement on a restructuring that would wipe out about $28 billion in debt for the automaker.
GM has already announced plans to lay off 10,000 salaried workers worldwide, or 14% of its staff, imposed pay cuts for most remaining white collar US workers and has offered buyouts to its 62,000 U.
workers represented by the U.
Now we'll go through each word in detail with some example sentences to show you how you can use the vocabulary.
RESTRUCTURING RESTRUCTURING A financially troubled company may undergo a restructuring or reorganisation of its activities in order to remain in business.
In many cases, restructuring takes place when a firm received new investment or funding.
As part of our restructuring, we will be closing some of our less profitable stores.
RESTRUCTURING PLAN RESTRUCTURING plan In order to receive new funds, the company may need to prepare a restructuring plan, demonstrating that it can use the money successfully.
The airline was required to produce a restructuring plan in order to receive a government bailout.
FEDERAL LOANS Federal loans In the United States, companies and individuals sometimes receive loans from the national government.
Since the US is a federation of states, the national government is usually referred to as the federal government, so these will be called federal loans.
College students who receive federal loans need to show that they have registered for military service.
TUMBLE TUMBLE When a price so statistic falls sharply, it is sometimes said to tumble.
The stock market tumbled yesterday after reports of a major increase in unemployment.
Wipe out wipe out to wipe out something means to eliminate or destroy it completely.
For example, a company may wipe out its debts through bankruptcy.
Some of America's biggest newspapers may be wiped out by a drop in ad revenues.
Lay off lay off layoffs Are john losses or redundancies resulting from poor company performance or economic conditions?
We expect this round of layoffs to be only temporary, since sales will likely increase next quarter.
Salaried workers, salaried employees, salaried workers or salaried employees.
Ah, workers who receive their pay in the form of a weekly or monthly salary instead of being paid by the hour.
Recent cutbacks have mainly affected are salaried workers white collar, white color.
One common term for salaried employees, its white collar employees based on the traditional color of businessmen's shirts.
White collar employees often expect their managers to consult with them before making major changes in the workplace.
Blue color blue collar.
This term contrast with blue collar, which refers to workers with less skilled or non professional jobs By out by out.
The term buyout is often used to describe a payment made to senior employees in exchange for giving up their jobs.
These employees are said to have been bought out.
Our CEO has a guaranteed five year contract, so when the board decided to fire him, it cost us a lot of money to buy him out.
Now it's your turn to practice some of the words we have studied in this episode you'll hear a Siris of sentences with the word blanked out or replaced with a beep.
Repeat the whole sentence, but Salem Missing word.
For example, if you here the union is seeking the same health benefits for factory workers that employees receive already, you should say the union is seeking the same health benefits for factory workers that salaried employees receive already will play an example.
Answer after each exercise.
Are you ready?
Let's begin.
It may be cheaper to out thes highly paid staff instead of keeping them on under our new management answer, it may be cheaper to buy out these highly paid staff instead of keeping them on under our new management.
The bankruptcy judge has asked management to prepare a plan for consideration by the bondholders.
The bankruptcy judge has asked management to prepare a restructuring plan for consideration by the bondholders.
The company's share price is likely to when the market learns of this quarter's weak sales figures.
The company's share price is likely to tumble when the market learns of this quarter's weak sales figures.
This is the second part of a two part series on bankruptcy vocabulary.
You can visit the website at www dot business English pod dot com to watch and download lots more videos on business English Thanks for watching and see you again soon.


Financial English Vocabulary Lesson for ESL: GM Bankruptcy

林宜悉 2020 年 7 月 3 日 に公開
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