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Wed Dec 26, 2012, 08:29 AM

 

Auto Workers Set for Big Profit Sharing at Ford and GM This Year

Source: Wall Street Journal

Union workers at Detroitís two largest auto makers are on track for big profit-sharing payouts for this year.

Officials at the United Auto Workers union have told members employed at General Motors Co. to expect profit-sharing checks for as much as $7,000 early next year, according to two people briefed on the matter. Over at Ford Motor Co., which is more profitable than GM in North America, the 2012 payouts could top $8,000, based on a pay formula spelled out in the UAW contract.

Last year, GM paid out $7,000 in profit-sharing, while Ford awarded about $6,200.


Read more: http://blogs.wsj.com/drivers-seat/2012/12/26/auto-workers-set-for-big-profit-sharing-at-ford-and-gm-this-year/

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Reply Auto Workers Set for Big Profit Sharing at Ford and GM This Year (Original post)
michigandem58 Dec 2012 OP
Omaha Steve Dec 2012 #1
Auggie Dec 2012 #2
Botany Dec 2012 #5
dynasaw Dec 2012 #3
Sadie5 Dec 2012 #4
Dustlawyer Dec 2012 #6

Response to michigandem58 (Original post)

Wed Dec 26, 2012, 08:42 AM

1. After Obama saved the auto industry a total of over 1/2 million new jobs come home to the USA


K&R!!!!

From the UAW back in Oct. after the second debate.

Snip: Unlike Mitt Romney, in 2009 the president made a bold decision and stood up for American workers, helping to save the auto industry. Today, the domestic automakers are adding jobs, and the domestic auto industry is mounting a comeback, adding back more than 230,000 jobs since June 2009 Ė the fastest pace of job growth in the auto industry since the 1990s.

The UAW has taken an active roll in calling for limiting the jobs that can go overseas. Like President Obama, we recognize outsourcing is a problem that greatly contributed to our nationís economic woes. The UAW won major insourcing victories in the recent contracts with the domestic automakers, including the designation of the Ford Flat Rock, Mich., plant as the second source for the next-generation Fusion that was solely built in Mexico, reopening the General Motors (GM) plant in Spring Hill, Tenn., with car production that was slated for Mexico, and production of the first subcompact car, formerly made exclusively in South Korea and slated for Mexico, to the GM plant in Lake Orion, Mich.

The UAW and Ford are also bringing production of the C-Max from Europe to the Ford plant in Wayne, Mich., the Medium Truck and the frame assembly from Mexico to Ohio, and the Ford Transit Commercial Van from Europe to Kansas City, Mo. There is also insourcing of transmissions, engines and castings, and other automotive parts to GM and Ford plants in Michigan and Ohio.


Marta's Equinox was made in Canada. The engine was made in Japan. The transmission was made in China. Those jobs are coming back to the USA too!


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Response to michigandem58 (Original post)

Wed Dec 26, 2012, 08:47 AM

2. That's what is called stimulus

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Response to Auggie (Reply #2)

Wed Dec 26, 2012, 09:32 AM

5. and they will spend much of that money @ local businesses

The plumber, the painter, the roofer, the local diner, the fishing
tackle shop, the dentist to get their kids teeth worked on, a college
fund for their kids, and on and on.

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Response to michigandem58 (Original post)

Wed Dec 26, 2012, 08:48 AM

3. Another Reason to Have a Union

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Response to michigandem58 (Original post)

Wed Dec 26, 2012, 09:23 AM

4. My thoughts

Yes, things are getting better and many new jobs have been added but the new jobs are starting at such an absurd wage of around $12-14 per hour. I guess the figure it is better than nothing but try supporting a family on this wage. The auto companies can afford higher wages but want at some point through retirements to have all employees making this lower wage. Insurance as GM employees knew it is now horrible. If you are 65 they insist on the person going on medicare. The auto companies have no intention of shorting their CEO's any bonus due them. As for outsourcing this should have been looked at in the 80s instead of allowing it to go as far as NAFTA. The good part is that the Federal Judge who cut the crooks off from using retirement benefits as pocket money during GM woes. This was a Judge who did have the workers best interest at heart.

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Response to michigandem58 (Original post)

Wed Dec 26, 2012, 10:03 AM

6. Insurance is shitty for just about everyone now! High premiums and low pay outs! We need

COMPLETE CAMPAIGN INANCE REFORM b/4 we will ever turn this thing around. We do not have REPRESENTATIVE government! Special interests write the laws.

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