Fordemployee189 Posted January 19, 2011 Share Posted January 19, 2011 Would someone please post the profit sharing formula again....seen it on here a few weeks ago and can't seem to find it again.......thanks Quote Link to comment Share on other sites More sharing options...
lquidspine Posted January 19, 2011 Share Posted January 19, 2011 Would someone please post the profit sharing formula again....seen it on here a few weeks ago and can't seem to find it again.......thanks (a)6.0% of the portion of the Profits for such Plan Year which does not exceed 1.8% of such sales (b)8% of the portion of the Profits for such Plan Year which exceeds 1.8% of such sales for such plan year but does not exceed 2.3% of such sales ©10% of the portion of the Profits for such Plan Year which exceeds 2.3% of such plan year but does not exceed 4.6% of such sales (d)14% of the portion of the Profits for such Plan Year which exceeds 4.6% of sales for such plan year but does not exceed 6.9% of such sales (e) 17% of the portion of the profits for such plan year which exceeds 6.9% of sales for such plan year Page 80-81 Volume III 2007 CBA 1 Quote Link to comment Share on other sites More sharing options...
pmooret Posted January 19, 2011 Share Posted January 19, 2011 Read in another forumn that on the last give backs that we voted in there was somethng in there about us giving up profits from Ford Motor Credit on our profit sharing, anybody know anything about this? Quote Link to comment Share on other sites More sharing options...
taurus10 Posted January 19, 2011 Share Posted January 19, 2011 Read in another forumn that on the last give backs that we voted in there was somethng in there about us giving up profits from Ford Motor Credit on our profit sharing, anybody know anything about this? It's in the Nov 3, 2007 contract(not mods) page 76 # 16"Profits" excluding FMCC. Sucks because they have done well the last couple years also! Quote Link to comment Share on other sites More sharing options...
Twincam Harley Posted January 19, 2011 Share Posted January 19, 2011 It's in the Nov 3, 2007 contract(not mods) page 76 # 16"Profits" excluding FMCC. Sucks because they have done well the last couple years also! Pretty sure FMCC earnings were out of our equation long before that. It's been North American Vehicle Operations for quite some time now if I'm not mistaken. Quote Link to comment Share on other sites More sharing options...
messy marvin lang Posted January 20, 2011 Share Posted January 20, 2011 Pretty sure FMCC earnings were out of our equation long before that. It's been North American Vehicle Operations for quite some time now if I'm not mistaken. I notice that asbl, bikini dude, saline dude, DTP body, gate4medical,995(all Chucky) is not around. He get banned again? He does make things intresting.. Quote Link to comment Share on other sites More sharing options...
Pioneer Posted January 20, 2011 Share Posted January 20, 2011 I notice that asbl, bikini dude, saline dude, DTP body, gate4medical,995(all Chucky) is not around. He get banned again? He does make things intresting.. It looks like not only did he get banned, but his post about being written up was removed too. Quote Link to comment Share on other sites More sharing options...
Twincam Harley Posted January 20, 2011 Share Posted January 20, 2011 It looks like not only did he get banned, but his post about being written up was removed too. Thank God! Quote Link to comment Share on other sites More sharing options...
lquidspine Posted January 20, 2011 Share Posted January 20, 2011 Would someone please post the profit sharing formula again....seen it on here a few weeks ago and can't seem to find it again.......thanks I forgo to add we will not know what percentage our formula will be calculated at until Year end sales figures are released sometime this month. Ok back to the derail Quote Link to comment Share on other sites More sharing options...
SheetMetalJoe Posted January 24, 2011 Share Posted January 24, 2011 Would someone please post the profit sharing formula again....seen it on here a few weeks ago and can't seem to find it again.......thanks Here is how the formula works: • 6% for profits earned less then 1.8% • 8% for profits earned greater then 1.8% but less then 2.3% • 10% for profits earned greater then 2.3% but less then 4.6% • 14% for profits earned greater then 4.6% but less then 6.9% • 17% for profits earned greater then 6.9% We will call each of profits earned percentages = x We will call the total number of Hourly workers = y We will call the total number of Salary workers = z Once you have the x factor, you then take x/y + z = new profit share pay amount X%. You take the new X% amount and devide that by your yearly earnings for that profit sharing year. Fore example: if X factor moved us into the 8% X factor bracket, and you earned 70k that profit plan year, you would receive $5600. Please understand that this is my understanding of the language and if this formula has changed, please explain how and when. I do believe it’s been the formula used in the master agreement since 1982. Hope this helps Thanks Jeff Hodges DTP Body Box Unit (outer) I left a significant factor out of the equation earlier. Once we have the X % factor, we then divide that % by our yearly earnings for that profit plan year. Again, this is the best I could figure it out. It worked for me in this formula pattern with our last profit sharing check. Quote Link to comment Share on other sites More sharing options...
ReDemption Posted January 24, 2011 Share Posted January 24, 2011 (edited) Thanks for re-posting that SheetMetalJoe. (saves me from digging through my BO post files in my hard drive). My PC crashed not to long ago and I haven't stripped all the info from it yet =( FMC my have posted 8 billion in profit but we must remember there are many factors that have not been released that will impact our PS pay amount. One of these factors for example is a 960 million dollar charge for paying on the principal of convertible note debt. Reason: $554 million principal amount of Ford’s 4.25% senior convertible Notes is due December 15, 2036 and $1.992 billion principal amount of its 4.25% senior convertible notes due November 15, 2016. Remember, share holders and investors have to get paid also, so all the principal paid amounts on these notes will factor into the equation. Another factor would be that we don't use the entire "global" profit amount earned or in other words the whole 8 billion. We only use the amount earned here in America. For example: in the year 2000 FMC posted aprox 6.67 billion in earnings, the American manufacturing factor was aprox 733 million. This netted (on average earnings) a $6700 profit sharing check (we also had nearly 110k workers, we don't have half of that now). Please, if I'm wrong in my understanding of these things explain. To me, this is a very good reason that we need to be thankful to have a Union. For those of you that disagree, remember that this was a negotiated benefit it wasn't just given to us. Hope this helps. Be Good and God Bless Jeff Hodges DTP Body MP&L DOP right Local 600 "If hatred is all you have to offer, then the problem is you" Edited January 24, 2011 by ReDemption Quote Link to comment Share on other sites More sharing options...
longball Posted January 24, 2011 Share Posted January 24, 2011 Here is how the formula works: • 6% for profits earned less then 1.8% • 8% for profits earned greater then 1.8% but less then 2.3% • 10% for profits earned greater then 2.3% but less then 4.6% • 14% for profits earned greater then 4.6% but less then 6.9% • 17% for profits earned greater then 6.9% We will call each of profits earned percentages = x We will call the total number of Hourly workers = y We will call the total number of Salary workers = z Once you have the x factor, you then take x/y + z = new profit share pay amount X%. You take the new X% amount and devide that by your yearly earnings for that profit sharing year. Fore example: if X factor moved us into the 8% X factor bracket, and you earned 70k that profit plan year, you would receive $5600. Please understand that this is my understanding of the language and if this formula has changed, please explain how and when. I do believe it’s been the formula used in the master agreement since 1982. Hope this helps Thanks Jeff Hodges DTP Body Box Unit (outer) I left a significant factor out of the equation earlier. Once we have the X % factor, we then divide that % by our yearly earnings for that profit plan year. Again, this is the best I could figure it out. It worked for me in this formula pattern with our last profit sharing check. Thanks for re-posting that SheetMetalJoe. (saves me from digging through my BO post files in my hard drive). My PC crashed not to long ago and I haven't stripped all the info from it yet =( FMC my have posted 8 billion in profit but we must remember there are many factors that have not been released that will impact our PS pay amount. One of these factors for example is a 960 million dollar charge for paying on the principal of convertible note debt. Reason: $554 million principal amount of Ford’s 4.25% senior convertible Notes is due December 15, 2036 and $1.992 billion principal amount of its 4.25% senior convertible notes due November 15, 2016. Remember, share holders and investors have to get paid also, so all the principal paid amounts on these notes will factor into the equation. Another factor would be that we don't use the entire "global" profit amount earned or in other words the whole 8 billion. We only use the amount earned here in America. For example: in the year 2000 FMC posted aprox 6.67 billion in earnings, the American manufacturing factor was aprox 733 million. This netted (on average earnings) a $6700 profit sharing check (we also had nearly 110k workers, we don't have half of that now). Please, if I'm wrong in my understanding of these things explain. To me, this is a very good reason that we need to be thankful to have a Union. For those of you that disagree, remember that this was a negotiated benefit it wasn't just given to us. Hope this helps. Be Good and God Bless Jeff Hodges DTP Body MP&L DOP right Local 600 "If hatred is all you have to offer, then the problem is you" Is it me...or did these twoguys sign out as the same person...Is he talking to himself? 1 Quote Link to comment Share on other sites More sharing options...
Twincam Harley Posted January 24, 2011 Share Posted January 24, 2011 I thought the same thing when I read it! Quote Link to comment Share on other sites More sharing options...
Litng1 Posted January 24, 2011 Share Posted January 24, 2011 So if ford made 8 billion what would we get Quote Link to comment Share on other sites More sharing options...
Twincam Harley Posted January 25, 2011 Share Posted January 25, 2011 So if ford made 8 billion what would we get They aren't going to make $8 billion in North America so it doesn't matter. It's all based on a number of things that even knowing how much profit they made, you still have to know other info to begin to calculate. How about waiting until Friday and then you'll know what the average check is going to be? Quote Link to comment Share on other sites More sharing options...
FiredMotorCompany Posted January 25, 2011 Share Posted January 25, 2011 They aren't going to make $8 billion in North America so it doesn't matter. It's all based on a number of things that even knowing how much profit they made, you still have to know other info to begin to calculate. How about waiting until Friday and then you'll know what the average check is going to be? Don't open your Christmas presents on the 24th. Wait until Christmas day. Quote Link to comment Share on other sites More sharing options...
228electrician Posted January 25, 2011 Share Posted January 25, 2011 So if ford made 8 billion what would we get a check on friday of each week for weeks to come, be happy you got a job :hysterical2: :bag: Quote Link to comment Share on other sites More sharing options...
SU-FI Posted January 25, 2011 Share Posted January 25, 2011 a check on friday of each week for weeks to come, be happy you got a job :hysterical2: :bag: yeah be happy just to have a job. so make sure you don't cash that bonus when you get it. Quote Link to comment Share on other sites More sharing options...
uawxlt Posted January 26, 2011 Share Posted January 26, 2011 Profit Sharing = 0.00 dolars Quote Link to comment Share on other sites More sharing options...
hdw1 Posted January 26, 2011 Share Posted January 26, 2011 (edited) If some of you people would just sit down with your contract and benefits books and read them you would be a lot better off. Edited January 26, 2011 by hdw1 Quote Link to comment Share on other sites More sharing options...
FiredMotorCompany Posted January 26, 2011 Share Posted January 26, 2011 If some of you people would just sit down with your contract and benefits books and read them you would be a lot better off. Amen, brother. Seldom does a poster mis-cite the contract. They usually cite "a buddy told me", or "my committeeperson says". When it comes down to brass tacks, the contract stands. It doesn't help when the "past practices", "unpublished letters", and "special circumstances" are used for some and not all. The buddy system works in the union, in case you haven't noticed. Quote Link to comment Share on other sites More sharing options...
ReDemption Posted January 26, 2011 Share Posted January 26, 2011 Is it me...or did these twoguys sign out as the same person...Is he talking to himself? Longball, I see what your talking about. It looks like Joe copied my post and posted it up under a post. Trust me, I sign all my posts, and I only use this screen name. Just to prove my point, here ya go. ______________________________________________________________________________________________________________________________________________________________________________ They aren't going to make $8 billion in North America so it doesn't matter. It's all based on a number of things that even knowing how much profit they made, you still have to know other info to begin to calculate. How about waiting until Friday and then you'll know what the average check is going to be? ______________________________________________________________________________________________________________________________________________________________________________ So am I this screen name also? I have no idea why SheetMetalJoe did what he did in that manor. But it was a post that I put up quite some time ago. Jeff Hodges DTP Body MP&L DOP Right Local 600 Quote Link to comment Share on other sites More sharing options...
Grandmaster B Posted January 26, 2011 Share Posted January 26, 2011 According to the Freep on Sunday. Ford made a 4.9 billion NORTH AMERICAN profit in 2000, $733,000,000 was allocated for profit sharing(USA TODAY). Average check was $6,600 with 103,000 employees. Ford is expected to post a 4.7 billion NORTH AMERICAN profit for 2010, with 46,000 employees. I don't want to get hopes up here...I'm just say'n! It has to be somewhere in the same ballpark. Quote Link to comment Share on other sites More sharing options...
Pioneer Posted January 27, 2011 Share Posted January 27, 2011 It has to be somewhere in the same ballpark. Unless they take a huge one-time charge to pay down the debt. Then that $4.7 Billion number doesn't mean anything. Quote Link to comment Share on other sites More sharing options...
FiredMotorCompany Posted January 27, 2011 Share Posted January 27, 2011 Unless they take a huge one-time charge to pay down the debt. Then that $4.7 Billion number doesn't mean anything. I don't know....but I would think "profit" is what's left after "one-time charges". So "profit" would have those charges built in already. And wouldn't they have to announce them during the year the profits are calculated (CY 2010). Maybe not. Quote Link to comment Share on other sites More sharing options...
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