UAW Bonuses Will Make For A Very Merry Christmas

Signing and profit-sharing bonuses for hourly workers at Detroit's Big Three will give autoworkers a nice wad of cash in time for the holidays, pumping an estimated $200 million into the Michigan economy starting next month.

Metro Detroit businesses say they expect a much-needed boost in sales — and some stores already report an uptick in spending.

At Bill & Rod's Appliance in Livonia, autoworkers already are coming in for new appliances, boosting sales by 60percent over last September and prompting the store to hire four full-time salespeople, noted sales manager Joseph Legato.

"We had to expand the number of employees just to keep up with demand," Legato said. The spending, though, is decidedly practical — refrigerators, washer and dryers, not game systems and high-def televisions, he adds. "I think that a lot of people have been holding out. They're replacing appliances that are 20 or 30 years old now, and those things are giving up the ghost."

1c3am5 - 10/6/2011 2:00:15 PM

+2 Boost

You'd be better off to repair a 30-year-old washer. The new ones from China won't see 5-years before they need "recycling".

uaw_lax - 10/6/2011 6:14:53 PM

+2 Boost

Last Updated: March 01. 2007 1:00AM
Ford ups CEO bonus
Mulally gets extra $1M; total reward now at $6M
Bryce G. HoffmanThe Detroit News

Ford Motor Co. said Wednesday its board of directors approved a $6 million stock option bonus -- $1 million more than was previously promised -- for new CEO Alan Mulally.

The board also approved cash payments to other senior executives to compensate them for a bonus program the company is scrapping in favor of a new compensation plan, according to documents filed with Securities and Exchange Commission late Wednesday.

The news of the payouts came as thousands of salaried workers who signed up for buyouts or early retirement packages bid tearful farewells to their friends and colleagues. It also follows close on the heels of the record $12.7 billion loss the automaker posted for 2006.

From The Detroit News: http://detnews.com/article/20070301/AUTO01/703010411/Ford-ups-CEO-bonus#ixzz1a2gYt08h

uaw_lax - 10/6/2011 6:18:43 PM

+2 Boost

GM CEO Pulls in $1.3 Million Bonus
Brings 2010 salary to $9 million.
Posted: 11:35 PM Jul 5, 2011
Reporter: Associated Press

Backwoodsrider - 10/7/2011 1:08:35 PM

+1 Boost

God forbid someone actually put some money away for a rainy day. No, lets go out and buy large screen TV's. Spending the money before they even have it!!!..lol I love it. And the US wonders why they are so far in debt.

Jeez, pay down some house hold debt and save some money!!!

AdmiralT20 - 10/9/2011 1:59:45 PM

+1 Boost

I am sure you must find it truly annoying Agent009 that the UAW are getting bonuses.