http://247wallst.com/2012/12/21/workers-at-gm-ford-to-score-nice-bonuses-this-year/
SO THIS IS THE RESULT OF OUR 40 BILLION DOLLAR LOSS TO GM
SO THIS IS THE RESULT OF OUR 40 BILLION DOLLAR LOSS TO GM
Workers at GM, Ford to Score Nice Bonuses This Year
Profit-sharing bonuses for United Auto Workers’ members at Ford Motor Co. (NYSE: F) and General Motors Co. (NYSE: GM) are expected to be at least as large as last year’s payout at General Motors and larger than the year-ago bonuses paid at Ford. Approximately 55,000 GM hourly workers and 40,000 Ford employees are in line for the payments.
GM workers can expect bonuses of between $5,500 and $7,000, and Ford’s employees could receive a payment of more than $8,000 each, according to a report in The Wall Street Journal. The payments are based on a formula that gives workers a $1 bonus for every $1 million in North American operating profit at the two companies.
U.S. auto sales are on track to top 14.5 million units in 2012, up 14% over last year’s sales total. In the first three quarters of the year, GM has posted operating profit of $5.55 billion and Ford’s profit totals nearly $6.5 billion. And the fourth quarter looks good too.
Paul Ausick
GM workers can expect bonuses of between $5,500 and $7,000, and Ford’s employees could receive a payment of more than $8,000 each, according to a report in The Wall Street Journal. The payments are based on a formula that gives workers a $1 bonus for every $1 million in North American operating profit at the two companies.
U.S. auto sales are on track to top 14.5 million units in 2012, up 14% over last year’s sales total. In the first three quarters of the year, GM has posted operating profit of $5.55 billion and Ford’s profit totals nearly $6.5 billion. And the fourth quarter looks good too.
Paul Ausick
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