This is the VOA Special English Economics Report.
这里是美国之音特别英语经济报道。
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.
美国最大的汽车制造商接受了来自奥巴马和布什政府500亿美元的联邦援助。人们开玩笑说，GM意思就是“政府汽车”。现在，通用汽车可能正走向复兴之路。
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.
今年上半年，该公司报告称利润超过了25亿美元。由于救助行动，政府仍占有61%的股权，加拿大也是股东之一。但现在，通用计划再次向公众出售股票。
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.
通用仅仅花了四十天完成破产重组。去年6月份通用向债权人寻求破产保护。公司进行了重组，停止生产某些车型，关闭了一些汽车销售店和工厂。
In April, GM repaid almost seven billion dollars in government loans. Many of its creditors are waiting to see how much they get.
今年四月份，通用已经偿还了近70亿美元的政府贷款，通用公司债权人正拭目以待他们能拿到多少。
GM plans an IPO, an initial public offering of stock, later this year. The company could raise as much as fifteen billion dollars.
通用计划今年晚些时候首次公开发行股票（initial public offering of stock，简称IPO，下文中将直接使用该简称），他们将募集高达150亿美元的资金。
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.
通用首席执行官爱德华·惠塔克（Edward Whitacre）将于9月1日卸任。他希望政府能在IPO期间出售其持有的所有通用股份。很多专家认为在完成IPO之后，随着时间的推移，财政部扮演的角色将就逐步淡化。
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."
如果股票上涨，政府将会从救助行动中受益。但是IPO对公司来说是有风险的，它也将检验投资者对“新通用”股票的购买意愿。
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.
购买股票不同于购买债券。债券代表贷款，股票代表所有权。投资者购买某家公司的股票都希望公司成长。
GM believes it can make that happen, in part with a new electric-and-gas hybrid.
通用汽车相信他们可以通过一种新型电力和汽油的混合动力车来实现这一点。
COMMERCIAL: "Chevy Volt, a car that can go up to forty miles before it uses any gas at all. That's an American revolution."
广告：“雪佛兰Volt汽车，使用纯电力模式就能行驶40英里。这是美国的一场革命。”
The Volt is expected to start arriving in showrooms later this year.
预计Volt汽车将于今年晚些时候到达展厅。
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.
通用同时也在放眼海外。全球增长最快的汽车市场在发展中国家。目前通用在中国的汽车销量已经超过美国本土。通用仍主导着美国市场，但丰田目前是全球最大的汽车制造商。
There are signs that America's big three may have put the worst of their recent troubles behind them.
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。
Chrysler also went through bankruptcy and says its sales are up. Italy's Fiat holds a twenty percent share.
克莱斯勒也已度过破产期，并表示其销售额攀升。意大利的菲亚特公司拥有克莱斯勒20%的股权。
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.
福特汽车避免了破产，并拒绝了政府救助。今年前六个月，福特报告称盈利近50亿美元。