Posted on 02/02/2012 12:06:09 PM PST by Nachum
Detroit - Factory workers at Chrysler are getting $1,500 profit-sharing checks next month, a sign the automaker’s turnaround is succeeding. About 26,000 union-represented workers in the U.S. should get the payments, according to Chrysler’s contract with the United Auto Workers union. The profit-sharing figure is based on an Associated Press analysis of company earnings, and the labor contract formula for profit-sharing. Chrysler would not say how much the workers will get. But the formula in its new four-year contract with the UAW shows that the checks will be about $1,500. The checks are based on Chrysler’s $2 billion operating profit
(Excerpt) Read more at suntimes.com ...
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Shouldn’t that be “Italian-owned carmaker Chrysler will share the spoils of government bailout with Obama backing union?”
It will be the coldest day in hell before I'd ever buy a GM or Chrysler product ever again. They can choke on their vehicles.
Partly but I was shocked to read for the first time in my life (maybe the first time ever) that in Canada Chrysler is reported to be the number 1 seller of vehicles for the month of January 2012. For decades it was always GM then Honda or Toyota and last year Ford but Chrysler? Not sure what the US numbers are going to be but long held notions about the auto world are shifting.
Take away the tax subsidies, etc., and this is a good idea. Profit sharing gives employees some skin in the game.
WTF?
Doesn’t Chrysler still owe the US taxpayers $9 Billion from their bailout loan ?
Unlike GM, Fiat/Chrysler repaid the bailout
Screw the taxpayers. The workers wouldn’t have a job if it weren’t for the taxpayer bailout. That money should go off to pay down the debt.
Maybe Harry Reid should write that down in the next budget the Democrat controlled Senate will pass...although since they haven’t passed one for something like 1,010 days, why would they start now?
With Democrat plant, Crybaby Boehner, giving them everything they want, more spending, more debt, why would they want a budget?
While GM hasn't paid off their debt, Chrysler has. They really have made a profit. Plus they are not making golf carts mandated by the Bozo and his crew. I think the fact that they have paid off their tax payer debt has people buying from them instead of GM. GM is failing fast.
Tell us all again how Chrysler's bailout is a success story.
An analysis by the AP? This means that they are shilling for Obama again and these checks will make him look good.
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