UAW Profit Sharing Program Nets 49,000 GM Workers Bonuses Of $6,750

UAW Profit Sharing Program Nets 49,000 GM Workers Bonuses Of $6,750

General Motors’ net income in 2012 fell 36% to $4.9 billion from a year earlier as Europe weakened and several onetime accounting items affected the company’s bottom line.

The company, whose fourth-quarter net income rose 89% to $892 million, announced that it will issue profit-sharing checks of up to $6,750 to its 49,000 hourly U.S. workers.

The payments, which are based on the company’s performance in North America, are about $250 less than the GM's previous profit-sharing checks.

GM's operating profit, which reflects its business operations without special items, rose 14% to $1.25 billion for the quarter and fell 5% to $7.9 billion for the full year.

 


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gkearns56gkearns56 - 2/14/2013 11:53:43 AM
+3 Boost
What a shame. Instead of paying off the government what they borrowed, they're too worried about passing out profit sharing checks. No wonder the cars cost more than their non UAW plants.


UAWProudUAWProud - 2/14/2013 1:21:48 PM
-3 Boost
Reading the shit about the evil UAW workers getting bonuses. Here is my take. The total payout to the UAW workers is just over 33 million for 49,000 workers, who still have to pay taxes on it and most of what they get will funnel it's way back into the local economies. Take a look at the Executive bonuses paid out in many industries and ask what they have done for thiers and how much of it will impact the economy. The UAW doesn't outsorce work to foriegn countries, doesn't downsize work places, and doesn't fight for lower wages. But, the Execs making the huge bonuses do


gkearns56gkearns56 - 2/14/2013 5:30:56 PM
+3 Boost
Why is it every UAW member always CRIES about what the CEOs are getting. Hey - what a fool you are. The CEOs of companies get paid to run the ship. If they do a crappy job running the ship, their a@@ is fired. On the other hand, your UAW kronies can go out for lunch, drink a bunch of beer, smoke alittle pot while your there and come back to work after lunch to jepordize the "saftey" of other fellow workers (who opted NOT to go out and drink/smoke alittle) If the roof was falling in, you wouldn't have the "stones" to admit it, even after you seen. If you wanted to PROVE you deserved the profit sharing money, then why didn't all of your UAW buddies say, "we should pay back the government for BAILING our asses out". This has nothing to do with hourly wages paid versus salary paid employees. GM borrowed the money; so do the right thing - pay back the loans so you can look everyone in the eye, and say "Yes we borrowed the money, paid it back AND now deserve our bonuses.

But your UAW know it alls are a bunch of "bleeders". You want your cake and ice cream too. You want all the bonuses or profit sharing but you don't feel the company should have to pay any of the bailout money back. You think it's managements part to do that. Without the bailout money, your a@@ and everyone elses would be on the payment now.

This is why bloggers I will NEVER buy a product made by a UAW member. They feel this senese of ENTITLEMENT; we deserve this money, work as hard as everyone (putting nuts and bolts on).I'm a professor and won't ever come close to making what a UAW person makes. Get real for once; literally.


HughJassHughJass - 2/14/2013 4:49:21 PM
+4 Boost
Votes don't come cheap. Add this onto the hundres of thousands it cost to buy each vote last November.


PUGPROUDPUGPROUD - 2/14/2013 7:29:31 PM
+3 Boost
It is all about buying votes...clear and simple. Every man woman and child owes $56,000 to the deficit but the UAW is getting a bonus. The system is corrupt.


Ford77Ford77 - 2/15/2013 8:44:48 PM
+1 Boost
Once again the UAW is proving that GM stands for the "GREAT MISTAKE". I for one and others I know won't even walk into a GM dealership until they pay back every dollar, which means never. The supposedly friendly face that GM puts on is nothing but a ploy to sell their junk. Just check back when the steel companies were going for sanctions against foreign steel companies through the WTO for dumping steel in the USA and guess who was 2nd in line against the steel companies, mighty GM, and not a word from the UAW for their Union Brothers and Sisters and they say it.


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