#1 Workers at GM, Ford to Score Nice Bonuses This Year12-21-2012, 11:52 PM
Profit-sharing bonuses for United Auto Workersí members at Ford Motor Co. (NYSE: F) and General Motors Co. (NYSE: GM) are expected to be at least as large as last yearís 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 Fordís 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 yearís sales total. In the first three quarters of the year, GM has posted operating profit of $5.55 billion and Fordís profit totals nearly $6.5 billion. And the fourth quarter looks good too.
Read more: Workers at GM, Ford to Score Nice Bonuses This Year - 24/7 Wall St. http://247wallst.com/2012/12/21/work...#ixzz2FkWL01pB
The rest of us need to tighten our belts.The difference between pigs and people is that when they tell you you're cured it isn't a good thing.
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