Our sister site Ford Authority is reporting that UAW workers working for General Motors, Ford Motor Company and Chrysler LLC are expected to receive record profit sharing payouts of the three automakers. How much? An estimated $800 million combined, $400 million of which will go to Michigan workers alone. That would mean more of an economical impact in Michigan than sporting events such as the 2006 Super Bowl ($274 million), 2014 NHL Winter Classic ($30 million), or 2005 MLB All-Star Game ($52.5 million).
The most recent contract between the UAW and the auto entities states that employees at GM and Ford received one dollar for every $1 million in North America (not just including the U.S.) pre-tax profits the two firms make. Chrysler is in a similar situation except the Auburn-Hills-based company appraises their profit sharing program by using 85 percent of the brand’s global profits.