Government Motors to Pay UAW Union Workers Record-High Bonuses…
Hey, it’s not like GM was bailed out by the U.S. taxpayer…no, wait?
Feb. 8 (Bloomberg) — General Motors Co. may pay its 53,000 unionized hourly U.S. staff record profit-sharing checks of more than $3,000 per worker, two people familiar with the plan said.
The company hasn’t determined a specific amount and may change its plans after completing accounting for 2010, said the people, who asked not to be named because the plans haven’t been publicly disclosed. GM’s previous highest payout was $1,775 in 1999, according to the Center for Automotive Research.
Sharing the U.S. auto industry’s prosperity will be a focus of contract talks this year between the United Auto Workers and GM, Ford Motor Co. and Chrysler Group LLC. UAW President Bob King has said he aims to recover some of the $7,000 to $30,000 in concessions each worker gave up since 2005 to help U.S. automakers survive the worst market in decades.
“This is probably more than workers were eligible for so that they’ll feel good going into negotiations, which makes this a pre-signing bonus,” said Sean McAlinden, a former auto worker who’s now chief economist for the Center for Automotive Research in Ann Arbor, Michigan. “Lump-sum payments like this could make up 12 percent to 15 percent of compensation in the next contract.”
Posted by ZIP on Tuesday, February 8, 2011, at 6:34 pm | 
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A redistribution by any other name would still stink.
yeah that bonus money is coming from our pockets……. gad unions make me want to projectile vomit…… especially this one.
Is that so they can turn around and donate it to the DNC?
Maybe the workers can then donate their bonuses to pay back all of the bond holders whose money was stolen by the President of the United States and the UAW. This stolen bond money was the retirement funds for many senior citizens, who by federal law should have been paid back first. I guess stealing from senior citizens doesn’t matter to barry and his gang of thugs.
Nice work if you can get it…such back-breaking work as it is.
As my dear departed, USN-salted Dad would have said ..”F**k those mother-*uckers.”
Can we please get some people in power that have the balls to stop all this bull$hit!!!??? Only in my dreams I guess.
what profit? gm is an example of what’s wrong in this country,shipping jobs to mexico ,claiming they paid the money back,what a lie, now paying union workers a bonus on a non-existant profit ,people who helped cause the problem in the first can only be described as what happens when despotic fools like obama are in charge. I’ll buy a frickin toyota for I spend a nickle with GM.smoke mirrors and half breed with no birth certificate , thats the DEMONICRATS.
Unions will destroy America. They represent 11% of the workforce, mostly Government (UAW included???) employees, but they bleed the employers. z06 said it best.
UAAAAAAAAAAAAWWWWWWWWWWW, ain’t that sweet?
All of their benefits should be lump sum. Pay as you go is the only way to avoid long term financial commitments that extend for decades after a worker is no longer employed by the company.
Another disgrace that the GOP controlled Congress should stop immediately.
“Sharing the auto industry’s prosperity…” well, that leaves out GM. I hope the Ford employees get a fair shake, though. Govt Motors should never see a dime of profit until their loan is repaid and the former bond holders are reimbursed. Not until President Palin takes over will that happen.
I like so many others will NEVER buy another gov. motors product. I sold one of mine last week and am working on the rest!
Stiffing the bondholders, stockholders, and “creatively” laying the debt from “old GM” and GM financial on us taxpayers, is in my opinion criminal!
opakaB
“gm is an example of what’s wrong in this country,shipping jobs to mexico”
Huh, http://www.jobspercar.com says domestic auto’s still employ more people than imports.
What about the pension members who lost all their money?
What about the SanFranNan represented Fremont plant that closed due to the UAW not willing to bargain. Will they get $3K of Taxpayer money also?
I knew this was going to happen when the union started up a month or two back pointing out the “record” sales growth. What a crock – they lost something like 25% of sales and gained back 23% or some such number – that sure as hell isn’t growth and it didn’t even bring them back to where they were before the lost market share.
Going on 10 years now with an agency who has not given out raises to anyone in 3 years. I’m beginning to think we need to unionize.
Stop complaining. It’s coming from Bammy’s “stash”…..which means OUR
tax dollars. But after the 2008 election, the blacks and unions knew he would
deliver. And you know, the crook DID. And he’s foolin’ the folks just
enough for the redux. Some strong figure must emerge from the
right, or this tyro will have 4 mo’ years to whip whitey into submission,
with the MSM clapping all the way.
The bar across the GM plant is going to extra stimulated.
I mean the bar across the street from the GM plant.
No GM vehicle will be on my short list for any future vehicle purchase. Ever.
Outrageous hypocrites…especially with the msm!
Where’s the stories non-stop about this..huh?
God I love Ford!!!
The majority of us in the private sector havent seen pay increases or bonuses in three years.
Northern Virginia is now the most expensive suburb in America. Washington DC has an economy that is expanding faster than any city/area outside of Texas. The Unions got health care waivers, GE got EPA waivers. The only entities who benefited from the Stimulus were ones who know how to petition for gov’t grant money, mostly already on the gov’t dole.
Cronycapitalism. The gov’t is choosing the winners. At the expense of the private sector.