Passage 1
Ford Motor Co., despite losing more than $26 billion over the last two years, still has no intention of asking for government assistance but will instead draw down 10.1 billion in existing credit lines. “It’s a very volatile market,” says Ford Chairman Alan Mulally. “It’s not in our plan at all to access federal funds,” he said even though “business conditions have deteriorated around the world more rapidly than expected.”
Ford reported it lost $5.9 billion, or $2.46 per share, in the fourth quarter of 2007 due to declining domestic demand, restructuring charges and losses at its overseas subsidiaries. For the full year Ford lost $14.6 billion as it revenues shrank by 36 percent. The latest losses, Ford’s already steep mountain of debt—some $26 billion —and the industry’s shaky financial condition are all stirring anxiety among investors, lenders, and potential car buyers. Yet Mulally stresses that Ford is in a better strategic position than its struggling rivals.
GM and Chrysler are expected to present preliminary plans to the Treasury by Feb. 17 demonstrating their viability, and final plans in March, if either of those plans fails to convince the federal government, a bankruptcy filing could follow. Such a huge negative event might prompt Ford to reconsider its position, says Mulally, but otherwise it expects to avoid asking for emergency federal aid.
44.GM and Chrysler are Ford’s competitors.
A、True
B、False
【正确答案】：A
【名师解析】:根据文章内容，GM（General Motors）和Chrysler是福特汽车公司的竞争对手。文章提到了GM和Chrysler需要向财政部提交计划以证明它们的可行性，如果这些计划不能说服联邦政府，它们可能会面临破产申请。而福特汽车公司虽然面临亏损，但并没有计划寻求政府援助，而是打算使用现有的信贷额度。因此，题目中提到的GM和Chrysler是福特的竞争对手这一说法是正确的。
