GM bonuses could help economy recover

Filed under: AM Roundup |

The boost in profits in Detroit’s Big Three automakers means bonuses for the United Auto Workers who haven’t had a pay raise since 2005, said Bloomberg.

And that extra money could mean a big boost for the U.S. economy – as workers catch up on purchases put off during lean years.

GM reported a record $1.19 billion profit for 2011, which will give about 47,500 UAW workers as much as $7,000 each in a profit-sharing agreement.

Read more at Bloomberg.