Losing money in Europe, stock selling at a PE in the two's and a pile of debt and they are handing out bonuses. What kind of competent management does this? Furthermore everyday ,it seems, Ford is giving money to a charity, the arts, the homeless, an event of one kind or another or flying high school bands to foreign countries while shareholders are ignored and are on the verge of becoming charity cases themselves. What a reckless spendthrift company Ford has become.
Big bonus, my #$%$ what $8,000 for some working stiff who breaks his #$%$ on the line everyday, when thieves on wall street and in the banking cartels and federal regulators have been robbing savers for years, begrudge the working guy, screw that!!!!
The profit sharing in the US is earned due to the great performance of Ford in North America.
Ford is the one who asked the UAW to tie income more to profit by offering a simpler profit sharing program instead of increasing fixed costs with hourly wage increases. UAW Ford workers are still on 2003 wages, agreeing to concessions to forego a scheduled increase in 2005 and agreeing to no wage increase since. Ford wanted to reduce fixed costs and offer bonuses tied to profit so that labor costs only went up when there was more money to pay for them, and when profit is down less money goes to labor. Analysts said this was a good move on Ford's part, to bargain for this, and were happy when the UAW ratified that agreement.
So no complaining on profit sharing when this is what Ford bargained for and the UAW agreed to. Labor costs are down (Still at 2003 level, plus factor for inflation over 10 years) and labor only costs more when the company makes more and there is more money to pay for that. Fixed costs are reduced.
These activities are expected don't you know that? If they failed to 'give back,' or actively demonstrate their social conscious, or their responsibility to the 'less fortunate,' a socialist post Constitutional Regime could and Would allocate some social justice on their company as it's simply on loan and can be terminated if necessary. Yes, private property is a present day fiction.