UAW Profit Sharing Bonuses: Enough To Buy Two Tatas!

With GM's recent announcement of $7.6 billion in profits for 2011, you would think that the taxpayers would get a nice chunk of those proceeds. Well, we're not even half way to that ship yet. UAW shareholders though are a different story. GM recently announced that they will cut nice thick checks in honor of their UAW shareholders. As much as $7,000 in certain cases. This will indeed be GM's largest profit sharing payout in history. The prior high? $1775 per UAW employee in the glory days of 1999. In the meantime Ford plans to fork over $6200 as a maximum. Part of that has been paid out already. As for Chrysler? $1500. For those working schmoes who live bonus free, you do have one solace to this bit of news. American taxpayers haven't paid for all this quite yet. For now the financiers of GM's recent success are indeed the shareholders of our national debt. So when you see signs of a bolstering middle class in middle America, make sure you take your hat off and thank a member of the Chinese Communist Party.   from The Truth About Cars http://www.thetruthaboutcars.com

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