Report: Ford assures workers of bonuses if targets are met
Employees aren't the only folks at the Ford cash machine: banks get a dose, with Ford revealing it will write a check for almost ten percent of its debt by next Monday, and the UAW is looking at a jackpot of more than one billion dollars by cashing out stock warrants with a nearly 50-percent profit between their purchase and sell prices.
Make no mistake, Ford still needs to keep this up for a while yet – $31.45 billion in debt remains to be paid to the banks, and $7 billion remains due to the UAW's Voluntary Employment Benefit Association (VEBA) for employee pensions and healthcare. But when you can pay things off and have enough left to spread some cream around, well, that's a good start to the year.
[Source: Detroit Free Press | Image: Karen Bleier/AFP/Getty]
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