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UAW Gives Union Workers At GM $7K Bonus

From a cheering Associated Press:

GM books record annual profit; union workers due $7,000

February 16, 2012

DETROIT (AP) – General Motors earned its largest profit ever in 2011, two years after it nearly collapsed into financial ruin… The 103-year-old company made $7.6 billion in 2011, up 62% from 2010.

Mind you, since 27% of GM is still owned by the government, these figures are, in effect, coming from the Obama administration as well as the United Auto Workers. So they are probably as accurate as the current unemployment numbers.

GM also said Thursday that its 47,500 blue-collar workers in the U.S. will get $7,000 profit-sharing checks in March. The checks are based on North American performance and are a record for the company

Meanwhile, as we have previously noted, the UAW is freezing the pay of its non-union workers, slashing their bonuses, and completely doing away with their pensions. The non-union workers don’t get to share in the profits.

This is social justice at work.

Strong sales in the U.S. and China helped the carmaker turn a record profit, beating its old record of $6.7 billion in 1997 during the pickup truck and SUV boom.

Clearly, we are in the middle of the ‘Chevy Volt boom.’

GM is a vastly different company than it was then. It’s smaller and has less debt, and its contract with the United Auto Workers is less costly

Yes, the UAW’s pension fund was bailed out, and the union was given the company they destroyed, in exchange for a "less costly" contract. That is what is known as "fairness."

But it took a government bailout and a trip through bankruptcy protection in 2009 to cut its bloated costs. The restructured company wa [sic] able to make record profit last year, even though U.S. auto sales were near historic lows at 12.8 million cars and trucks

Again, these profit reports are coming from the Obama administration. And who knows how much they have been ‘seasonally adjusted’ to give Obama something to crow about?

Also bear in mind that GM will not have to pay any federal taxes for the next ten years. (Which was another payback to the UAW for their loyal support of Obama and the Democrat party.)

So, even though General Motors has made the biggest profit in its history, it will pay less tax than Warren Buffet’s secretary. — Where is the outrage?

This article was posted by Steve on Friday, February 17th, 2012. Comments are currently closed.

2 Responses to “UAW Gives Union Workers At GM $7K Bonus”

  1. GetBackJack says:

    Okay.

    Gloves are off.

    No Raises for white collar staff, and eliminate their pensions, but Bonuses for the drug-snorting lunch-time beer guzzling union thugs who leave screws and bolts out of the finished product.

    THIS is how you kill a car company.

    I love my Ford Taurus and collection of F-series pickups

  2. BannedbytheTaliban says:

    This is a catch 22 for Obama. If he touts this as a victory, I would hit him over the head with low taxes means higher profits and better pay for employees. He can’t have it both ways.


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