Auto Bailout Worked – General Motors Shares its Profits with Employees

Most would consider this good news, but those wishing for America’s destruction simply for political gains will not be happy over this. General Motors, the company that received $50 billion from tax payers in the form of a “bail-out,” has recovered to the point where they are now giving checks in the amount of $4,000 or more, to 45,000 hourly American workers through profit sharing.

The New York Times reports;

The checks will be worth “upwards of $4,000,” a G.M. spokeswoman, Sherrie Childers-Arb, said. That is more than double the company’s previous record of $1,775, paid in 2000.

About 3,000 G.M. workers at four plants in New York, Michigan and Indiana that were formerly part of the Delphi Corporation will receive about $3,000 each.

In all, G.M. will give at least $189 million of its profit back to plant workers.

If Republicans had their way, General Motors would have been a faint memory, causing hundreds of thousand to loose their jobs. Since receiving the bailout, GM has recovered, restructured its product and the company’s goals. Between January and September of 2010 GM saw profits of $4.2 billion.

Read the New York Time’s report here.

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  • Ezra Grant

    Well, there are those who disagreed with the bail-out and wanted companies like this to fail, so now that GM has rebounded because of the decision of the Democrats, these people are upset. It’s mainly politics, they can’t stand the fact that the decision to bail out the auto industry was a good decision.

  • Amy

    Really!? What in the world could they be criticizing about such good news?

  • Ezra Grant

    it sure is! It should make any real “Patriot” feel good inside, but I’ve already received criticism from some on the right for posting it. LOL!

  • Amy

    What a great success story–American or otherwise!