Detroit Three Preparing For Round Of Record Autoworker Bonuses

Detroit automakers are preparing to reward U.S. hourly workers with another huge pot of profit-sharing checks, as North American manufacturing operations approach peak efficiency.

Ford Motor Co., General Motors Co. and Chrysler Group LLC will next month announce specific, per-worker profit-sharing totals along with their 2013 financial results. Based on automakers’ anticipated earnings for the year, industry analysts believe more than $800 million in profit-sharing checks will go out to about 130,000 workers.

The combined per-worker total is on track to top the record of $17,875, set in 1999.

White-collar workers are not part of the United Auto Worker’s profit-sharing agreement with automakers, but are likely to receive bonus payments.

In Michigan, which is home to nearly half of the Big Three’s U.S. hourly workforce, the combined payout could reach $400 million, surpassing the combined economic benefits of Super Bowl XL in 2006, which generated $274 million; the 2005 Major League Baseball All-Star Game, which brought in $52.5 million; and the recent Winter Classic festivities, which brought in about $30 million.

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randy3023 - 1/6/2014 11:27:19 AM

+2 Boost

GM autoworkers should repay the LOSS taxpayers got stuck with on the BAILOUT loan their corrupt unions' bought-and-paid-for politicians stole from us back in 2007 and 2008.

GM executives should take a 50% levy, with other autoworkers receiving a 12% levy, until EVERY PENNY of $12,000,000,000 is paid back to the U.S. Treasury.

They are a DISGRACE until they have the decency to do this.

Car4Life - 1/6/2014 3:44:53 PM

-2 Boost

You do realize not only were tax payers saving GM, but in fact saving a significant chunk of our economy as we know it right?

randy3023 - 1/6/2014 9:21:33 PM

+1 Boost

"a significant chunk of our economy"? Pfffft. Not even close.

This country is orders of magnitude bigger and stronger than folks like you understand. Despite what the media tells you, GM's business, including its suppliers, dealers, and contractors, together comprised an infinitesimally SMALL portion of the country's GDP. A closure of GM's business would NOT have been a fifty-state catastrophe and would not have crashed the nation's economy nor even dinged it to anywhere near the extent our politicians, lobbyists, unionists, and parrot media have spun it to you. For example, many of the suppliers' production lines and facilities would have been sold off and put to work again by other entrepreneurs, many of whom employ far more effective management strategies than GM's failed execs do.

It's a tragedy that so many people like you failed to even consider pondering this nor any of the other broader, longer-term economic context, and instead just blindly guzzled up all the bullshit about GM being "too big to fail".

It always happens this way. People like you are run over by hype and hysteria, and the rest of us can only fucking watch and shake our heads as the result of your stupidity spills over into OUR lives.

The people working at and for GM needed to find other work. Their skills were needed ELSEWHERE. They didn't need to be be encouraged to languish in stagnant, unproductive positions at unprofitable, unhedged businesses — business now ostensibly stuck in artificial capacities, supported in perpetuity by the taxpayers.

The long term costs of the abandonment of the free enterprise are immense. They far outweigh the closure of any failed business, no matter how "big" that business may seem to the people like you stuck yearning for its better days.