February 14, 2013
online at www.uawlocal2250.com
Message from Joe Ashton and Jim Glynn
Dear UAW-GM Team Members,
Your commitment and excellent work over the past year have contributed to GM’s strong 2012 business results announced today. Consistent with this performance and the terms negotiated in the National Agreement, we’re pleased to announce this year’s profit sharing payout. Eligible UAW-GM team members who worked the entire year (1,850 compensated hours) will receive approximately $6,750. Regular full-time employees on roll as of December 31, 2012 who worked only part of the year will receive a pro-rated amount based on the number of hours worked. Payments are scheduled to be made on March 1, 2013.
This payout is another great example of how we are sharing GM’s success with employees. Payout totals for the past two years have been the highest since the profit sharing plan began in 1983. It’s a nice follow up to the Quality Performance Bonus of $250 that UAW-GM team members received last December for achieving the model year to date IPTV (Incidents per Thousand Vehicles) performance target for North America.
Working together, we helped make GM a stronger company in 2012, which benefitted our customers, employees and many others who depend on our success. The eventful year was marked by a number of successful vehicle launches, manufacturing facility upgrades, added jobs, and new investment announcements. Most importantly, the vehicles we produced saw success in the marketplace. This is why it is important to maintain customer focus and make quality a high priority.
We have an exciting year ahead of us with launches of new or significantly updated models in 2013, including the Chevrolet Impala and Silverado, GMC Sierra, Buick LaCrosse and the Cadillac ELR. Whether you work in stamping, vehicle assembly, powertrain, components or Customer Care and After sales, you play a role in the organization’s success. When the company wins, we all win. Today’s profit sharing news is solid proof.
Congratulations, and thank you very much for your contributions!
Joe Ashton
UAW Vice President
and
Jim Glynn
Vice President – GM Labor Relations
If you did not elect any deferral of the profit sharing payout to you PSP, expect a tax rate of roughly 40% and a net payout of around $4000. If you experienced financial difficulties recently because of the delay of unemployment and SUB payments, consider setting aside some of this money as these payments will once again be delayed one week this summer. Unfortunately, this is the “new normal” for unemployment and SUB payments.
There have been many rumors about the March schedule, specifically that there will be 2 Saturdays of production. In fact, the March schedule has not been finalized. When it is, it will be communicated promptly.
There are Women’s, Veterans and Union Label Committee meetings today between the shifts at the Union Hall. All are welcome.
After President Obama delivered his State of the Union address Tuesday, UAW President Bob King issued the following statement:
"President Obama's address outlined a comprehensive blueprint that focused on rebuilding the foundation of the American economy - working people, who need good jobs to keep our economy strong," said King.
"The President's proposal to raise the federal minimum wage from $7.25 to $9 an hour over the next three years is an important step in helping workers, many whom have to work several part-time jobs and still can barely afford to keep a roof over their heads," said King.
King also praised the President's $1 billion plan to create private-public sector "manufacturing institutes" to help prepare workers for new jobs of the future. President Obama also called for a $40 billion investment in the nation's infrastructure, including road and bridge improvements, and for establishing an Energy Security trust to research cleaner fuels for vehicles.
"The UAW stands by President Obama and his initiatives to support workers, the jobs of tomorrow and the necessary steps to create a sustainable future for all Americans," said King. "We now ask that Congress pledge to work with our President to strengthen the nation's economy."
From Automotive News: Chevrolet sales are expected to increase 7 percent this year as 13 new or refreshed models are rolled out, General Motors executives told dealers at their brand make meeting today at the National Automobile Dealers Association convention here. That projected sales gain would be in line with the industrywide pace if sales hit 15.5 million units, the high end of the 2013 sales forecast that GM set at the start of the year, dealers were told. Chevy's projection could end up exceeding 7 percent if sales rise more sharply than originally forecast, dealers were told. Executives said the company's internal forecasts show a possibility of 16 million in industry volume this year, dealers said. GM believes that a stronger housing market and the recent tax deal that temporarily resolved the federal government's so-called fiscal cliff should offset negative factors, such as an increase in payroll taxes, and result in improved consumer confidence, dealers were told. Last year, Chevy sales increased 4 percent, to 1.85 million, trailing the market's overall 13 percent growth. Growth this year should come from launches of new vehicles, including the redesigned 2014 Impala that will arrive in April, marketing chief Chris Perry told reporters after the meeting. Other key debuts include the 2014 Corvette Stingray, due out by late summer, and the next-generation Silverado pickup, expected in showrooms in June.
Tom Brune
UAW/GM Communications Coordinator
Wentzville Assembly
636-327-2119
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