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Post by ScottR@KTP on Oct 6, 2011 11:55:55 GMT -5
I saw a profit sharing chart somewhere that simplified the profit sharing...example: Ford net profit $8 billion, we get $8,000 profit sharing. Anyone else seen this? Just wondering if it stated that 2nd tier workers get the same or not? So, if Ford's net profit is $10 billion and profit sharing is supposed to be $10,000...do $15 an hour employees and $28 an hour employees both get $10,000 or are the 2nd tier workers receiving something less since they make half they money?
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Post by JoePieper on Oct 6, 2011 13:05:26 GMT -5
I read in the highlights that it is one dollar for every one million in profit. So say 5 billion would be 5 thousand in profit sharing.
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Post by JoePieper on Oct 6, 2011 13:06:18 GMT -5
Of course Im saving those highlights for when I run out of toilet paper.
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Post by Oliver Klosoff on Oct 6, 2011 13:08:04 GMT -5
From my understanding, it looks as though it has been changed to be based off total compensated hours earned, rather than qualifying income earned as in the past, so if that is accurate (and I think it is), every employee would get the same profit sharing rather they make $15, $19 or $28, so long as they maxed out at the 1850 hours. The payout would be reduced accordingly for any employee who did not earn at least 1850 compensated hours.
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Post by ScottR@KTP on Oct 6, 2011 13:10:33 GMT -5
That's what I'm thinking...
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Post by ktpsparky on Oct 6, 2011 13:15:44 GMT -5
I read in the highlights that it is one dollar for every one million in profit. So say 5 billion would be 5 thousand in profit sharing. Sorta...Profit Sharing doesn't start until $1.25B Profit and it stops at $12B. I know it seems unrealistic for the company to make more than $12B profit, but think about this...Last year was near record company profits with industry sales of <12M units. The market peaked mid decade at 17M+ units, just think how much profit we might make as a company if the market ever returns to 17M units. If we did make $15B one year, do you think they would limit Mulally's compensation and stock options? PROBABLY NOT.
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Post by ScottR@KTP on Oct 6, 2011 15:48:57 GMT -5
People think $10 billion profit is out of the question....well not when 20% of the work force is living at or near poverty and we haven't had a raise in 10 years...it's quite possible.
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Post by marcus on Oct 7, 2011 7:14:41 GMT -5
They dont put a cap on what our CEO makes dont put a cap on us.NO FOR ME.
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