Monday, February 14, 2011

GM to pay $400 million in taxpayer funded bonuses to union employees

Good to see my tax money being paid out to a government owned company and the union workers who helped kill it off in the first place.
Less than two years after entering bankruptcy, General Motors will extend millions of dollars in bonuses to most of its 48,000 hourly workers as a reward for the company's rapid turnaround after it was rescued by the government.

The payments, disclosed Monday in company documents, are similar to bonuses announced last week for white-collar employees. The bonuses to 76,000 American workers will probably total more than $400 million - an amount that suggests executives have increasing confidence in the automaker's comeback.

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