with any luck there will be NO profit to share...
Posted on 09/18/2011 8:34:24 AM PDT by Nachum
DETROIT (AP) -- The United Auto Workers union won $5,000 signing bonuses and the possibility of sweeter profit-sharing checks as part of a new four-year contract with General Motors Co., two people briefed on the talks said Saturday.
The deal, which was reached late Friday, also includes a $2- to $3-per-hour pay raise for entry-level workers over the life of the contract and guarantees more union jobs, the people said.
Both persons asked to remain anonymous because the details of the contract haven't been reviewed by all local union leaders.
The GM deal will serve as a template for contracts that still must be negotiated with Chrysler Group LLC and Ford Motor Co. It would set the pay and benefits for 112,500 U.S. auto workers. It also sets the bar for pay and benefits at nonunion auto companies and other industries across the country.
The contract is the first since GM and Chrysler received government bailouts to make it through bankruptcy protection in 2009. GM earned $4.7 billion last year.
(Excerpt) Read more at finance.yahoo.com ...
The list, ping
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The price of the Volt just went up again!
There, fixed it.
GM earned $4.7 billion last year.
I already know the answer, but how much of that went to the screwed bond holders, or to cover repairs of cars bought before "the new GM" emerged?
Profit sharing, eh? Screw the taxpayers, the unions will get theirs, profit or not.
I will go out of my way to avoid buying anything union made if I can.
with any luck there will be NO profit to share...
Why as taxpayers, the bailers-out, don’t we get a share of the profits?
I’ll enjoy my affordable Toyota...
Where is Chode's ....takes another one in the ....again... picture when we need it?
20% pay increase for the new employees. Union members grandkids must need jobs. Try getting a job in a unionized operation if you’re not related to someone already working there. Unions are a good ol boy network designed to protect the clan.
Now it turns out, according to documents filed with federal regulators, the revamping left the car maker with another boost as it prepares to return to the stock market. It won't have to pay $45.4 billion in taxes on future profits.
Easy to turn a profit when earnings aren't taxed. Look for trouble once GM is forced to pay taxes again.
and America takes another one in the........
Toyotas and Hondas are the only things I like(and will pay for at my earnings level). Ford, was overpriced, IMHO. All my Toyotas have been at least assembled in the US. FUGM!!! FUUAW!!!
GM and UAW can choke on those cars. I’ll NEVER buy one, EVER!
“.......The United Auto Workers union won $5,000 signing bonuses and the possibility of sweeter profit-sharing checks as part of a new four-year contract with General Motors Co......”
Substitute “General Motors Co.” with “radical, Leftist Obama Administration Car Czar” for a clearer perspective of what is, and what will probably become.
I never want to see the inside of another GM dealership.
If we quit giving GM idiots our money, they’ll nevah make a profit.
So, let’s do that an watch the unions squirm.
Go ahead, UAW, make what you want. I ain’t buyin’ it.
Now.
Or ever.
Shove your shoddy junk up your smelly Obamas.
I am 69 years old and for the first time I purchased a foreign owned car. I have usually purchased GM, one Ford and 2 Chryslers but this summer bought a Honda and love it. No more GM.
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