Govít Motors Employees to Receive Bonuses up to $7,000 Each
Posted on December 22, 2012
Profit-sharing bonuses for United Auto Workersí members at Ford Motor Co. (NYSE: F) and Government Motors Co. (NYSE: GM) are expected to be at least as large as last yearís payout at Government 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: http://conservativebyte.com/2012/12/...#ixzz2FzwFG77t
now how about paying back those loans..