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Thu January 13, 2011
Report: Profit-sharing checks coming to Ford and GM workers
At the Detroit International Auto Show, domestic automakers are celebrating a comeback of their industry. GM and Ford both saw profits last year, and the car makers are expecting a good year this year.
As more proof of the comeback, Bill Vlasic and Nick Bunkley report in the New York Times about profit-sharing checks that are expected to go to GM and Ford workers:
The two big Detroit carmakers will announce profit-sharing checks this month for their hourly workers, perhaps the largest in a decade, company officials and industry analysts say.
The checks are expected to top out at $5,000 at Ford, less at GM.
They report these checks "would be the biggest payout since the $8,000 checks that Ford handed out in 2000." Chrysler, the report says, is not expected to issue bonus checks this year.