Tag Archives: profit

Auto Worker Raises Bode Well for Retailers

About 60,000 autoworkers in Michigan and 148,000 nationwide will have extra cash to spend this month and next as profit-sharing checks from Detroit’s Big Three arrive.

Workers at General Motors Co. will get the biggest profit-sharing—up to a record $12,000 for 52,000 eligible US hourly workers, including about 21,000 in Michigan. Last year, GM-UAW members received $11,000 in profit sharing-checks.  

Ford Motor Co. announced profit sharing of up to $9,000 for its more than 56,000 UAW members, just behind last year’s record of $9,300. Fiat Chrysler Automobiles NV said it will pay its approximately 40,000 UAW workers an average of $5,000 in profit sharing, a bump up from last year’s $4,000.

The extra money for workers is welcomed by retailers as well. While some people will put it toward home repairs, vacation, or college bills, profit-sharing checks can help with big-ticket items.


Economic Recovery Hits the Tour Scene

This summer’s concert boom marks the first turnaround since the 2008 economic crash. According to Pollstar, North American concert sales were up 5.8% over 2014; Life Nation’s sales (through July) were up 7%; and AEG Live reported 26% gains at the box office. For the past few years promoters have struggled to find the right mix of price/artist for top acts though there have been higher box offices sales since 2013.