Pinto'77 Posted January 28, 2016 Share Posted January 28, 2016 http://www.freep.com/story/money/cars/ford/2016/01/28/ford-2015-earnings-trigger-record-profit-sharing-checks/79348762/ Quote Link to comment Share on other sites More sharing options...
Decker Posted January 28, 2016 Share Posted January 28, 2016 (edited) $10,800,000,000.00, even after paying out signing bonus`s, insurance benefits and current retirement benefits.... but, a great number for profit, $10,800,000,000.00. How about this number $149,600,000.000.00 in sales revenue in one year. One thing that is 100% fact about this number (sales revenue) is, every product that was generated for sale by the represented workforce that generated that $10,800,000,000.00 in profit, should be considered a very efficient workforce by the represented workforce's Union, but when sitting at the negotiation table they never considered this fact as the best tool to put on the table during negotiations? Calm down sheep, Rahh Raaahhh IUAW!!!! great job!!!! yes, I want my share deposited, the same as the flock does. Edited January 28, 2016 by Decker 1 Quote Link to comment Share on other sites More sharing options...
damagedone37 Posted January 28, 2016 Share Posted January 28, 2016 (edited) Uh decker that's a lotta dough Edited January 28, 2016 by damagedone37 1 Quote Link to comment Share on other sites More sharing options...
caustic Posted January 28, 2016 Share Posted January 28, 2016 So it's 9300 less the 1500 right? Quote Link to comment Share on other sites More sharing options...
Pioneer Posted January 28, 2016 Share Posted January 28, 2016 yes 1 Quote Link to comment Share on other sites More sharing options...
Pinto'77 Posted January 28, 2016 Author Share Posted January 28, 2016 Upon ratification of the new UAW contract in the fall, Ford gave workers a $1,500 prepayment. They will get the remaining $7,800 in mid-March. 1 Quote Link to comment Share on other sites More sharing options...
Xbar Posted January 28, 2016 Share Posted January 28, 2016 This seems to be the big debate right now, if it is $9300 or $7800. Depends on what article you read and how it is worded. Quote Link to comment Share on other sites More sharing options...
Pinto'77 Posted January 28, 2016 Author Share Posted January 28, 2016 (edited) No debate. The key figure for autoworkers is the $9.3 billion pretax profit earned in North America because the profit-sharing formula, negotiated with the United Auto Workers union, awards $1 for each $1 million in North American profit. That makes it $9,300 for eligible employees, before taxes. Ford gave workers a $1,500 prepayment. They will get the remaining $7,800 in mid-March. Edited January 28, 2016 by Pinto'77 1 Quote Link to comment Share on other sites More sharing options...
caustic Posted January 28, 2016 Share Posted January 28, 2016 No debate. The key figure for autoworkers is the $9.3 billion pretax profit earned in North America because the profit-sharing formula, negotiated with the United Auto Workers union, awards $1 for each $1 million in North American profit. That makes it $9,300 for eligible employees, before taxes. Ford gave workers a $1,500 prepayment. They will get the remaining $7,800 in mid-March. That's what the news says but that isn't what I was told at contract time when I was asking questions. It was to be an excluded item and wouldn't be removed at the time the checks where paid out. Quote Link to comment Share on other sites More sharing options...
Pinto'77 Posted January 28, 2016 Author Share Posted January 28, 2016 That's what the news says but that isn't what I was told at contract time when I was asking questions. It was to be an excluded item and wouldn't be removed at the time the checks where paid out. Damn media. Quote Link to comment Share on other sites More sharing options...
caustic Posted January 28, 2016 Share Posted January 28, 2016 Damn media. Who knows though I was told so much bullshit when they were trying to steer the vote. DTP had union reps telling tales of unicorns, strippers, and all kinds of bullshit to sugarcoat their non sense. I asked earlier if it was 1500 deducted to see if anyone had read about that in the actual language since I can't find an answer one way or the other. Quote Link to comment Share on other sites More sharing options...
Pinto'77 Posted January 28, 2016 Author Share Posted January 28, 2016 Who knows though I was told so much bullshit when they were trying to steer the vote. DTP had union reps telling tales of unicorns, strippers, and all kinds of bullshit to sugarcoat their non sense. I asked earlier if it was 1500 deducted to see if anyone had read about that in the actual language since I can't find an answer one way or the other. Ford's website is reporting a profit of 10.8 billion. https://media.ford.com/content/dam/fordmedia/North%20America/US/2016/01/28/4qfinancials.pdf Quote Link to comment Share on other sites More sharing options...
Pinto'77 Posted January 28, 2016 Author Share Posted January 28, 2016 (edited) Who knows though I was told so much bullshit when they were trying to steer the vote. DTP had union reps telling tales of unicorns, strippers, and all kinds of bullshit to sugarcoat their non sense. I asked earlier if it was 1500 deducted to see if anyone had read about that in the actual language since I can't find an answer one way or the other. I guess we will find out soon enough. Edited January 28, 2016 by Pinto'77 Quote Link to comment Share on other sites More sharing options...
caustic Posted January 28, 2016 Share Posted January 28, 2016 (edited) Ford's website is reporting a profit of 10.8 billion. https://media.ford.com/content/dam/fordmedia/North%20America/US/2016/01/28/4qfinancials.pdf 10.8 Bil is Ford NA, Europe, Asia, and FMC together from how I read that. The 9.3 is Ford NA which is what matters to us. Edit: The news letter also says checks of 9300 and mentions nothing of reducing that by by 1500. Edited January 28, 2016 by caustic Quote Link to comment Share on other sites More sharing options...
Pinto'77 Posted January 28, 2016 Author Share Posted January 28, 2016 10.8 Bil is Ford NA, Europe, Asia, and FMC together from how I read that. The 9.3 is Ford NA which is what matters to us. $9,300 before $1,500 it is then. Quote Link to comment Share on other sites More sharing options...
caustic Posted January 28, 2016 Share Posted January 28, 2016 $9,300 before $1,500 it is then. Then again, was that 1.5 bil from the pension accounting included in the 4Q profits? If so the profit was only 400k? Quote Link to comment Share on other sites More sharing options...
Xbar Posted January 29, 2016 Share Posted January 29, 2016 At contract time most of the media reported that we were getting an $8000 signing bonus making it look like we did so much better than GM. Yippeee for us. When in reality we only did $500 better. Very few reported that $1500 of it was an advance on proffit sharing. They always like to toss in that little extra, so why wouldn't they report the $10,800 up front? They always like to throw out all the raw meat they can for the public to chew on. Quote Link to comment Share on other sites More sharing options...
caustic Posted January 29, 2016 Share Posted January 29, 2016 At contract time most of the media reported that we were getting an $8000 signing bonus making it look like we did so much better than GM. Yippeee for us. When in reality we only did $500 better. Very few reported that $1500 of it was an advance on proffit sharing. They always like to toss in that little extra, so why wouldn't they report the $10,800 up front? They always like to throw out all the raw meat they can for the public to chew on. NYT, DFP, DN, CT all reported it as a bonus and upfront payment on profit sharing. Are you trolling or just speaking from your rectum? Quote Link to comment Share on other sites More sharing options...
Xbar Posted January 29, 2016 Share Posted January 29, 2016 (edited) Edited January 29, 2016 by Xbar Quote Link to comment Share on other sites More sharing options...
RougeWelder Posted January 29, 2016 Share Posted January 29, 2016 The media is also stating that this is a record profit sharing for hourly. To avoid being dumped on......I could be wrong....I repeat, I COULD BE WRONG.....but I kinda remember a profit sharing of $10k+ back in '98 or '99. And that was when I was production worker. Anyone else remember that or am I wrong? Quote Link to comment Share on other sites More sharing options...
caustic Posted January 30, 2016 Share Posted January 30, 2016 The media is also stating that this is a record profit sharing for hourly. To avoid being dumped on......I could be wrong....I repeat, I COULD BE WRONG.....but I kinda remember a profit sharing of $10k+ back in '98 or '99. And that was when I was production worker. Anyone else remember that or am I wrong? Well two years ago it was 8800 correct? Which I was told was a record at that time. So if the 1.5 bil that was freed up with the new pension accounting so that isn't actual profit, well not related to vehicles anyway, so that 7800 would be less than the 8800 so how the hell is it a record? Freeing up money from one hand and putting it in the other then screaming it's fresh income seems kind of...Enronish if you ask me. Either way I'm still pissed about that stupid pull ahead. 1 Quote Link to comment Share on other sites More sharing options...
Dayshift Posted January 30, 2016 Share Posted January 30, 2016 Well two years ago it was 8800 correct? Which I was told was a record at that time. So if the 1.5 bil that was freed up with the new pension accounting so that isn't actual profit, well not related to vehicles anyway, so that 7800 would be less than the 8800 so how the hell is it a record? Freeing up money from one hand and putting it in the other then screaming it's fresh income seems kind of...Enronish if you ask me. Either way I'm still pissed about that stupid pull ahead. Quote Link to comment Share on other sites More sharing options...
Dayshift Posted January 30, 2016 Share Posted January 30, 2016 Stop your winning. I put my $800 in my savings account at 1.4% APR and earned a bundle. I earned enough for a value meal at taco bell plus a 3 ct of those cinnabon things they sell for desert. It was stupid but it amounts to a no interest 4 month loan. If you needed the money for bill s like a few of the 2nd tiers i know it was a little relief. Quote Link to comment Share on other sites More sharing options...
tgrames Posted January 30, 2016 Share Posted January 30, 2016 I don't understand all the bitching about the pull ahead. I guess no one understands the time value of money (TVM). Quote Link to comment Share on other sites More sharing options...
tooltime Posted January 30, 2016 Share Posted January 30, 2016 Well two years ago it was 8800 correct? Which I was told was a record at that time. So if the 1.5 bil that was freed up with the new pension accounting so that isn't actual profit, well not related to vehicles anyway, so that 7800 would be less than the 8800 so how the hell is it a record? Freeing up money from one hand and putting it in the other then screaming it's fresh income seems kind of...Enronish if you ask me. Either way I'm still pissed about that stupid pull ahead. Pull ahead was done in the 2011 contract as well to get the total to $10,000 and I remember it was popular and we were thankful for the pull ahead. They obviously did the same this time since it was well received and we expected the pull ahead Most of the trades (me included) love the pull ahead since we had our FICA paid off since July and the tax was minimal You must be a new hire and not here in 2011 when the same pull ahead happened............. Never seen so much crying on these forums over cash in our pocket............ no wonder the public hates our good wages, benefits, bonuses, profit sharing, paid vacations and paid holidays Quote Link to comment Share on other sites More sharing options...
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