Thursday, February 24, 2011

U.S. Union Autoworkers to Receive $1000s in Bonuses: Yay!

The average American autoworkers who are employed by the three U.S. auto companies will soon be receiving bonuses ranging from about $2,500 - $7,000. These workers are members of a union: the United Auto Workers.

All of the Big Three have either posted billions in profits or are on their way to their first profitable years since the early 2000s. GM and Chrysler are also on track to completing repaying the loans (not free bailouts) they received from the Federal government in 2009 to stay afloat and continue operations. GM issued an IPO several months ago that was hugely successful. Ford continues to be profitable. All three car companies have retained employees, hired more workers, built new plants, and many new exciting and forward-thinking car models are hitting the showrooms.

All of this was made possible by President Barack Obama and the Congressional Democrats, who in 2009, refused to let the auto companies die. It was hard and messy, but the auto companies got the money and the time they needed to re-invent themselves and save the U.S. auto industry.

Meanwhile, the Republicans wanted the American car companies to liquidate, throwing hundreds of thousands out of work (including employees of thousands companies that support the auto industry) and negatively impacting the economies of many U.S. cities and towns.

Even as the bonuses for hard-working everyday American auto workers (and union members) were announced over the past few weeks, many Republicans stated that the workers shouldn't get bonuses while the auto companies still owed money to the government.

Those Republicans didn't say the same as Wall Street employees received millions in bonuses--the same "Wall Street" that caused the recession; the same Wall Street that also has not completed paying back the government.

The Republicans only want the auto workers to forgo their thousands while applauding the millions their financial buddies have received for years. The union workers at the auto companies gave up huge amounts of their negotiated pay to help keep the auto companies going; the Wall Street employees gave up nothing.

On the scale of who is really on the side of the American worker--unionized or not, one only has to look at the record of the Democrats and the Republicans over the past several decades.

Congratulations to the U.S. auto workers on their bonuses. A great new stimulus to the economy!

Jobs and increased income stimulate the economy, not draconian budget cuts or tax cuts for the rich.

Posted via email from The Black Liberal Boomer Blog

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