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Workers at GM, Ford to Score Nice Bonuses This Year

Home - by - December 22, 2012 - 08:00 America/New_York - 7 Comments

24/7 Wallst

Profit-sharing bonuses for United Auto Workers’ members at Ford Motor Co. (NYSE: F) and General Motors Co. (NYSE: GM) are expected to be at least as large as last year’s payout at General 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.

 

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SNIP: Oh really, GM?  Where’s our bonus?

» 7 Comments

  1. RWF

    December 22nd, 2012

    I am confused.

    GM went bankrupt. Yeah, it did. And in a nod to the unions who greased the hands of the elected elite, our dear leaders developed a plan to keep the company from going bankrupt bankrupt.

    So we evil taxpayors (Not the 52%) were asked to (asked, LOL, FORCED) buy their shitty stock at an inflated price and now we are in the process of GIVING the stock back to them at a substantial loss in addition the original shitty inflated price that we paid for it.

    And the workers that helped make it so, that drove that company into the dirt through excessive demands are getting a bonus? WTF? Am I understanding this right?

    Must be nice to work for the government.

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  2. Ten Megaton

    December 22nd, 2012

    Some more of that redistribution.

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  3. Billy Fuster

    December 22nd, 2012

    Hey fools–keep paying your taxes.

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  4. phil in philly

    December 22nd, 2012

    hey UNION ASSHOLES – PAY BACK THE MONEY TO THE TAXPAYERS it was STOLEN FROM!!

    [[ will NEVER buy ANYTHING union made EVER again in my life ]]

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  5. scr_north

    December 22nd, 2012

    The change is occurring. In Obamaland the union worker is now more important than the owner, shareholder, bond holder or non-union employee. The payback for union support of the Democrats started when Obama interfered (arguably illegaly) with the bankruptcy process for Chrysler and GM. He delivered Chrysler into the hands of the union and a foreign owner and with GM he poured billions it into knowing full well it was going to union pockets. He also destroyed the bondholder rights as well. I wonder where the money is coming from for GM to buy back it’s stock from Obama (at 50 cents on the dollar)? Could it be a line of credit that they have that’s guaranteed by the government? It’s only a matter of time (I’ll bet just before the next election) that GM comes back, hat in hand begging for more money wailing that without it the economy will collapse but by then I’m not sure you’ll be able to tell the difference.

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  6. aleon

    December 22nd, 2012

    As a taxpayer, being forced into ownership of a worthless stock I concede my loss and will do all that I can to deem that stock worthless. I refuse to buy another Government Motors vehicle.

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  7. Whom

    December 22nd, 2012

    Wow, and in the real private sector we continue to exist on bread and water basically.

    Our fed gov is totally out of control. When do the marines step in to save us? Secession may be the easiest solution, but somethimg has to put an end to this federal nightmare, asap.

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