Record Profit-Sharing Checks For General Motors

WSYM Staff

Workers at General Motors are getting a nice pat on the back for a job well done. Each hourly worker could see up to $11,000 from GM's profit-sharing agreement with the United Auto Workers union.

For the 4th quarter, GM made $6.3 billion and as part of the union agreement the auto company has to give some of the profit to the 2015 union workers.

"It's just another way of spreading the wealth. The members are the ones making the world class products and putting it out there. So they're making these profits and this is just our little piece of the pie" said UAW Local 652 President, Mike Green.

Green, who has been the groups president since 2008, said he already knows how he's going to spend it--on his daughter's wedding.

"I've waited my whole life to walk her down the aisle and I'm gonna get that opportunity," Green said. "I'm pretty excited about that. And I'm good with my profit sharing for to that."

As Green prepares for his daughter's wedding, he'll spend a lot to make sure his only daughter has the wedding of her dreams. He and other UAW workers will be putting a lot of money into the local economy.

But as MSU economics' professor, Charles Ballard, says the entire group of about 5,000 will barely make a dent into the local economy.

"These payments will add up to a number of million dollars but probably 1/10 of 1 percent" said Green. "It's not likely to galvanize the entire economy. It's good no questions about that."

Ballard says the biggest impact will be one those individual workers make.