GM Pays more than $400 million in Bonuses to Workers Rather Than Paying Back Their Loan to We the People

 

Government Motors is looking an awful like AIG …

General Motors, GM, is going to pay workers more than $400 million in bonuses, even though they still owe John Q. Public. So let’s understand this, GM makes a profit and instead of paying back their $49.5 billion bailout from the tax payers, they provide bonuses instead. UNBELIEVABLE! Remember when President Barack Obama blasted AIG for taking bonuses after they took a federal bailout? Where is the outrage from Obama?

As shareholders, when might we expect a dividend check? At the town hall meeting, Obama said he was “outraged” at the bonuses that AIG executives have received while the company was getting “extraordinary assistance from taxpayers to keep its doors open.”

From the AP:

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.

Most of GM’s hourly workers will get a record payment of more than $4,000 — more than double the previous record in 1999, at the height of the boom in sport utility vehicles and pickup trucks. Nearly all 28,000 white-collar workers such as engineers and managers will get 4 to 16 percent of their base pay. A few — less than 1 percent — will get 50 percent or more.

As stated at Michelle Malkin.com, Barack Obama forced Americans into becoming 60% share holders of GM. However, wouldn’t one think that the shareholder would get a dividend check to pay back a loan before bonuses were provided to employees? Hmm?

The general taxpaying public will probably see Justin Bieber on the cover of AARP Magazine before that happens.



If you liked this post, you may also like these:

  • IRS to pay $70M in Employee Bonuses Despite an Obama Administration Directive to Cancel Discretionary Bonuses
  • Another Obama Touted Green Energy Company Lays off Workers, Abound Solar Received $70 Million and Lays Off 280 Employees
  • Daily Commentary – Monday, September 6th, 2010 – Iran Paying Afghanistan Taliban to Kill U.S. Troops
  • Not a Good Day for Libs and Democrats
  • Fisker Automotive Who Received Government Loan Totaling $529 million Fires 75% of Workers




  • Comments

    9 Responses to “GM Pays more than $400 million in Bonuses to Workers Rather Than Paying Back Their Loan to We the People”

    1. super dave on February 15th, 2011 7:46 am

      a deal made with the devil and we know who forged it.

    2. Bill B on February 15th, 2011 9:57 am

      This reminds me of what happened to the people in Russian back when Stalin was in charge. He took all their crops and land and distributed it amongst the people who followed him. If you went along with the plan you were rewarded but if you opposed the plan you would likely be killed, disappear or starved to death.

    3. Steve on February 15th, 2011 11:17 am

      2,

      Yes; exactly like Stalin’s Russia. Except for the killing, disappearances, starvation, and actually, all the rest.

      I suppose $4,000 bonuses to the labor are seen as equivalent to when Wall Street executives and derivative traders received Hundreds of Thousands and Millions of dollars in bonuses. Simple payback for a job well done.

    4. denise on February 15th, 2011 1:55 pm

      wow such b.s.

    5. Steve on February 15th, 2011 4:14 pm

      4,

      Aww, no need to brag. ;-)

    6. Dolf on February 15th, 2011 4:37 pm

      Its “funny” to see how the rich have goated the middle class and working class to accept this.

    7. NGBoston on February 16th, 2011 12:49 am

      The general taxpaying public will probably see Justin Bieber on the cover of AARP Magazine before that happens.

      LMAO @ Red. Love the way you write! hahahah I am going to have to steal that one for dinner conversation some evening. LMAOOOOOOOOOO

    8. rightknight on February 16th, 2011 1:05 am

      The People have to be burnt by the brand of
      Political Corruption before they rise from their
      slumber. Obama is a Community Organizer, a
      Union Organizer, a Movement Organizer, and
      a pretty good Liar as well. Does this bitter taste
      of Central Planning and Constitution Abuse
      remind anyone of Greedy Rulers of the past?

    9. rightknight on February 16th, 2011 1:15 am

      Buying Political Invincibility by stealing
      the People’s treasure to splurge on
      supporters is literally a Crime. Ordinary
      Americans would be punished for that
      type of offense. Perhaps this Administration
      is not composed of ‘Ordinary Americans’.

    Leave a Reply




    Support Scared Monkeys! make a donation.

     
     
    • NEWS (breaking news alerts or news tips)
    • Red (comments)
    • Dugga (technical issues)
    • Dana (radio show comments)
    • Klaasend (blog and forum issues)
     
     
     
     
     
     
     
    Close
    E-mail It