Jump to content

$5,000 profit sharing


jjt4433

Recommended Posts

Ford said this morning that it earned a profit of $6.6 billion in 2010, less than the company was expected to report, but the most since 1999 when the automaker’s Explorer was America’s most popular SUV.

 

Ford also said that its hourly workers will receive an average profit-sharing check of $5,000.

 

 

 

http://www.freep.com/article/20110128/BUSINESS0102/110128008/1002/business/Ford-earns-6-6-billion-2010-hourly-workers-get-5-000-profit-sharing-payouts

Link to comment
Share on other sites

Wish I would have knew that Ford was going to take such a hit in the 4th quarter on profits. I could have sold and bought back on Monday all of the stock I own. That would have far out weighed the 5k in profit sharing.

 

 

As I write this Ford stock is down $2.20/share! Wall Street was very disappointed!

Link to comment
Share on other sites

Did anyone else notice this?

 

Dearborn— Ford Motor Co. today said 2010 was its most profitable year in more than a decade, and it will give 40,600 hourly workers profit-sharing checks of about $5,000 each in March.

 

 

Salaried workers, including about 20,000 in the United States, are expected to get bonuses too, but those figures were not disclosed today.

 

http://www.detroitne...-to-average-$5K

 

20k salaried to 40k hourly? Is it me or is that 2:1 ratio seriously too high.

 

Our profit sharing would have been much higher if Ford hadn't taken a $2.5 Billion hit in the fourth quarter, and especially if they would get rid of some of the dead weight salaried folks.

  • Like 1
Link to comment
Share on other sites

Alan Mullaly, Ford Motor Co. savior, misguided wallstreet terribly in his guidance for the fourth quarter. His "suprise wallstreet" method hit us all very hard today. It will take several months for these wounds to heal. We will/are much stronger now and will be even stronger come year end! One good thing, with such a diversion, wall street big wigs aren't bitchin' about our profit sharing..........yet. Lesson learned, what goes up ,falls twice as hard!

  • Like 1
Link to comment
Share on other sites

There are always gonna be the employees who are gonna complain about $5,000 not being enough after all we sacrificed. It is still $5,000 more in my pocket. After years for small profit sharing or no profit sharing, it is a positive for me. It's great we are getting $5,000.

  • Like 1
Link to comment
Share on other sites

There are always gonna be the employees who are gonna complain about $5,000 not being enough after all we sacrificed. It is still $5,000 more in my pocket. After years for small profit sharing or no profit sharing, it is a positive for me. It's great we are getting $5,000.

I agree to some the cup is always half empty opposed to full. Last year at this time if you told any worker that they would get 5k they would laugh in your face. By the way I care about other peoples stock decisions as much as I care about what hand they use to wipe their asses.

Edited by sez
Link to comment
Share on other sites

Did anyone else notice this?

 

 

 

 

 

http://www.detroitne...-to-average-$5K

 

20k salaried to 40k hourly? Is it me or is that 2:1 ratio seriously too high.

 

Our profit sharing would have been much higher if Ford hadn't taken a $2.5 Billion hit in the fourth quarter, and especially if they would get rid of some of the dead weight salaried folks.

I hear ya there. I was really expecting a much bigger check, actually was hoping to be around $8000-$10000, but as i am sure someone will comment, i am just glad to be getting something.

 

As far as the 2:1 ratio, that is definitely to high. I am sure i could come up with some job cuts on the salary side if they wanted to shed some of that dead weight.

They could start by eliminating all MPS positions. Make the superintendants and area managers do some of the leg work instead of sitting in meetings all day.

  • Like 1
Link to comment
Share on other sites

There are always gonna be the employees who are gonna complain about $5,000 not being enough after all we sacrificed. It is still $5,000 more in my pocket. After years for small profit sharing or no profit sharing, it is a positive for me. It's great we are getting $5,000.

All I can say is buy all the Ford stock you can right now. It will rebound within a month or so(or less)..Ford will make even MORE money next year so we will get a check again. Thank God profit sharing is back!!

  • Like 2
Link to comment
Share on other sites

I am curious about something though........hmmmm........... I wonder how much Alan Mulally and Mark Fields profit sharing bonuses will be......hmmmm

 

They will probably be able to pay about 8000 to 10000 of the hourly profit sharing checks with just their 2 checks. Thanks Al, thanks Marko. Y'all great guys!

Link to comment
Share on other sites

There are always gonna be the employees who are gonna complain about $5,000 not being enough after all we sacrificed. It is still $5,000 more in my pocket. After years for small profit sharing or no profit sharing, it is a positive for me. It's great we are getting $5,000.

 

 

Ford/We did an excellent job in 2010, Highest net income in more than 10 years, sounds good too me, I'll take the $5,000!!

  • Like 1
Link to comment
Share on other sites

Ford said this morning that it earned a profit of $6.6 billion in 2010, less than the company was expected to report, but the most since 1999 when the automaker’s Explorer was America’s most popular SUV.

 

Ford also said that its hourly workers will receive an average profit-sharing check of $5,000.

 

 

 

http://www.freep.com/article/20110128/BUSINESS0102/110128008/1002/business/Ford-earns-6-6-billion-2010-hourly-workers-get-5-000-profit-sharing-payouts

$5000 this year, should be higher in 2012, 2013, etc. Then stock dividends shold be rte-instated next year. $32/ share on 1/26/12

  • Like 1
Link to comment
Share on other sites

Did anyone else notice this?

 

 

 

 

 

http://www.detroitne...-to-average-$5K

 

20k salaried to 40k hourly? Is it me or is that 2:1 ratio seriously too high.

 

Our profit sharing would have been much higher if Ford hadn't taken a $2.5 Billion hit in the fourth quarter, and especially if they would get rid of some of the dead weight salaried folks.

 

I am so with you on this one. I was wondering this loooong before today's profit announcement. Why do you need 20k to 40K. Back in the day you had 1 supervisor (in the plant anyway) supervising over at least 10 work stations with 2 people on each side. Most of the time you had only 1 team leader and 1 repair if you were lucky. Or has that changed where there is a whole lot less plant supervision and now you have a lot more salaried designers and others. I know there are fewer HR salaried jobs because most are now in India. So the question is who are the 20K and how many are truly needed. Like most of us said before, hourly can elect a couple of hourly leaders and pretty much run the show without supervision.

  • Like 1
Link to comment
Share on other sites

I am curious about something though........hmmmm........... I wonder how much Alan Mulally and Mark Fields profit sharing bonuses will be......hmmmm

 

They will probably be able to pay about 8000 to 10000 of the hourly profit sharing checks with just their 2 checks. Thanks Al, thanks Marko. Y'all great guys!

I feel Mulally should get a big check. He has guided Ford through this down turn, using no bailout money and led Ford to profitability, as he promised to do ,& sooner than expected. I would loved to have had a bigger check, but am very greatful to get what we will. They probably could have blown more of it paying down debt, but decided to compensate us with profit sharing. I'll take it ! Just my opinion!

Link to comment
Share on other sites

I hear ya there. I was really expecting a much bigger check, actually was hoping to be around $8000-$10000, but as i am sure someone will comment, i am just glad to be getting something.

 

As far as the 2:1 ratio, that is definitely to high. I am sure i could come up with some job cuts on the salary side if they wanted to shed some of that dead weight.

They could start by eliminating all MPS positions. Make the superintendants and area managers do some of the leg work instead of sitting in meetings all day.

Or keep the MPS because they are receiving a good salary thus making them work harder for the money and eliminate salary. Come on,' don't the leaders do most everything now anyway?? Get an extra leader to eliminate supervision. That is how I thought it was supposed to be when leaders were elected in the first place. It's like paying two people for one job, a leader, and a supervisor to babysit the leader.

Link to comment
Share on other sites

Come on guys, use your brains! You can't think that all salaried workers are at the plant level, do ya? Most are at World Headquarters, design and engineering centers, etc. Don't forget the size of Ford Credit too, lots off salaried there.

 

Glad to get my $5K + here. Nice to get back some of thet $15K that was given up in concessions!

Edited by Twincam Harley
  • Like 2
Link to comment
Share on other sites

I am curious about something though........hmmmm........... I wonder how much Alan Mulally and Mark Fields profit sharing bonuses will be......hmmmm

Your statement just shows how little you know about how salaried personnel get paid !

 

Salary, bonus and profit sharing are 3 separate items and very few "white collar" employees get "bonus" (only LL4 and above) once you get to Director/VP level, your bonus is "negotiated", meaning not every VP get the same as every other VP. Bonuses are also only paid if certain performance levels are meet (negotiated at the beginning of the year). Depending on the persons salary level these may be personal goals and/or group goals. Also, for VPs and above, some of their bonus may be in stock or stock options which can not be sold for several years.

 

Most (if not all) the the "white collar" that you see/interface with are much lower (probably SG7-LL6). I am retired, but I know there was a lot of talk about converting their "profit sharing" into more of a bonus which could only be collected if certain objectives were meet. So the company might make profit and group might not get anything if its objectives were not met, and vice versa.

 

Personally, I think ALL top level executives in ALL US companies are overpaid (especially when compared to their overseas counterparts) as are professional athletes and movie/television actors.

  • Like 3
Link to comment
Share on other sites

$5000 this year, should be higher in 2012, 2013, etc. Then stock dividends should be rte-instated next year.

I wouldn't bet the farm on that !

 

Ford still has a long way to go on paying down debt, funding the VEBA and pension funds before you are going to see the dividend re-instated. It could happen in 2012, but I don't think it is likely.

  • Like 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...