Tag Archives: General Motors

General Motors union workers to get $11k profit-sharing checks

Add this company to the growing list of companies handing out “crumbs.”
From NBC Los Angeles: General Motors announced Tuesday it made $12.8 billion in pre-tax profits in 2017, and the company said union-represented workers will receive profit-sharing checks of $11,750.
The company reported a net loss of $3.9 billion, driven primarily by a $7.3 billion accounting charge related to the recent tax reform and $6.2 billion charge related to the sale of Europe’s Opel unit. But without the expense the company posted record per-share earnings.
About 50,000 GM factory workers will get $11,750 profit-sharing checks later this month. GM’s profit-sharing checks are higher than its Detroit-area rivals. Ford announced in January profit-sharing checks of $7,500 for an estimated 54,000 UAW-represented employees, and Fiat Chrysler said it would pay its UAW employees an average of $5,500, the Detroit Free Press reported. Fiat Chrysler also said it would give U.S. workers, aside from senior leadership, $2,000 bonuses, according to the Free Press.
Excluding one-time items, GM made $9.9 billion, or $6.62 per share, the highest since leaving bankruptcy in 2009. The earnings beat Wall Street estimates. Analysts polled by FactSet expected $6.33 per share. Full-year revenue was $145.6 billion, which also beat estimates.
“The actions we took to further strengthen our core business and advance our vision for personal mobility made 2017 a transformative year. We will continue executing our plan and reshaping our company to position it for long-term success,” GM CEO Mary Barra said in a news release.
GM says the change in the U.S. tax code forced it to write down accumulated losses that it uses to avoid corporate income taxes. The assets went from $33.6 billion to $24 billion. Since the rate fell from 35 percent to 21 percent, the losses are worth less.

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Obama's No Child…err..Gang Banger Left Behind

In a brilliant new study by the Dept Of Education
(which only cost You and I 85 bazillion dollars)
They have determined the reason most inner city youts
(Yep, I said youts) are failing math is because they can’t see it in a practical application.
So they have devised a new test and we here at FOTM have gotten a copy from one of our many clandestine operatives planted in various and sundry places.
Don’t ask, cause you don’t want to know.
Just another service brought to you by the
FOTM Team. 
Inner City Schools are finally starting to teach practical math that these kids can use in real-world situations! 
GANG/CREW NAME______________
1. Little Psycho has an AK-47 with a 200-round clip. He usually misses 6 of every 10 shots and he uses 13 rounds per drive- by shootin. How many mofos can Little Psycho ice on a drive- by before he gotta reload?
2. Big Mutha has 2 ounces of cocaine. If he sells an 8 ball to Antonio for $320 and 2 grams to JimJam for $85 per gram, what be the street value of the rest of his shit?
3. Jay-Jay pimps 3 ho’s. If the price is $85 per trick, how many tricks per day must each ho turn to support Jay-Jays $800 per day Crack habit?
4. Raul wants to cut the pound of cocaine he bought for $40,000 to make 20% profit. How many ounce bags will he need to make to gets the 20% upside?

5. Ray-Ray gets $2000 for a stolen BMW, $1500 for stealing a Corvette, and $1000 for a 4 x 4. If he steals 1 BMW, 2 Corvettes and 3 4×4’s, how many more Corvettes must he steal to make the 10k for his brother’s bail?
6. Killa got 6 years for murder. He also got $10,000 for the hit. If his common-law wife spends $100 of his hit money per mo nth, how much money will be left when he gets out?
7. If an average can of spray paint covers 22 square feet and the average letter is 3 square feet, how many letters can be sprayed with three 8 oz. Cans of spray paint with 20% paint left over?
8. Pee-Wee knocked up 4 girls in the gang. There be 20 girls in his gang. What be the percentage of bitches Pee-Wee knocked up?
9. Little Big Boi is a lookout for the gang. Little Big Boi also has a Boa Constrictor that eats 5 rats per week and a cost of $5 per rat. If Little Big Boi makes $700 a week as a lookout, how many weeks can he feed his snake with one week’s income?
10. Marvin steals Juan’s skateboard. As Marvin skates away at 15mph, Juan loads his 357 Magnum piece. If it takes Juan 20 seconds to load his piece, how far away will Marvin be when he gets whacked?
~Steve                                  H/T  The I_Man 

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Who Gets Your State Income Tax?

If you live in one of 16 states and your employer has a “special deal” with the state government, this applies to you!
More info here
H/T  Kelleigh

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12 Surprising Economic Facts

12. From 1948 until 2007, the average duration of unemployment was 13.5 weeks. Today, it’s 40.5 weeks.
11.Just 1 in 7 U.S. workers is of normal weight without a chronic health problem,” according to The Wall Street Journal, citing Gallup data.
10. According to The Wall Street Journal, “every year 17,000 American-trained masters and doctoral students leave the U.S. to find work elsewhere.”
9. Over the past 25 years, college tuition has increased at nearly four times the rate of broader inflation.
8. 5.5 million Americans are unemployed and not receiving unemployment benefits. Last year, that number was 1.4 million.
7. The U.S. government provides health care for a minority of its population (elderly and poor) at a greater cost per citizen than many European countries spend on universal coverage.
6. Total state and local pension shortfalls now equal $4.4 trillion, according to State Budget Solutions.
5. According to The New York Times, only 23% of Americans benefit from the mortgage interest tax deduction, yet 93% support it.
4. Nationwide real estate values have declined by about $7 trillion since 2006.
3. According to the National Review, General Motors has 96,000 employees but provides health benefits to a million people.
2. Only 2.7% of what Americans spend their money on are goods and services from China. 88.5% is on American-made goods and services.
1. America is still by far the largest economy in the world, nearly three times the size of China’s or Japan’s economy, and nearly five times the size of Germany’s. We have the best schools, the deepest financial system, the most advanced innovation, and the brightest entrepreneurs.
From Morgan House, “50 Amazing Numbers About the Economy,” The Motley Fool, Oct. 21, 2011.
H/t beloved fellow Joseph.

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