xoxoxoBruce • Dec 10, 2014 9:13 pm
Is this a cause or symptom of high unemployment?
United Auto Workers union leaders signed off on a tentative agreement with Ford
on Monday that would deliver $10,000 in signing bonuses to every worker and
$9 billion in new U.S. product investments, retaining or creating 8,500 jobs.
Now it is time for the members to vote.
The new-product investments include a commitment by Ford to bring
its Ranger midsize pickup back to America and to revive the storied Bronco nameplate.
Both would be built at the Michigan Assembly Plant which will stop
making the Ford Focus and C-Max families of vehicles there in 2018.
...
Ford workers will be eligible for about $8,500 in signing bonuses
as well as other goodies including profit sharing, a $1,500 annual
inflation protection bonus and possible $250 annual competitiveness bonus,
according to people familiar with the deal.
Additionally, $1,500 of the profit sharing amount due would be pulled ahead
so that workers would get a tidy $10,000 upon ratification.
...
Retirees get $1,000 in four annual $250 cash payments or gift cards.
Surviving spouses get a total of $500 over the four years in $125 annual payments.
They also can use the revived Legal Services Plan.
...
[It goes on and on...]
It's unusual to see such a generous nod to retirees,
Ford's are not contractually obligated to include them in negotiations.
However Ford is well aware that retirees, under the UAW bylaws,
are allowed to vote on the contract. Historically, many of them do.
(a house big enough to have a study, for example) and/or transport to and from student's houses.