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Ford to Pay Out Record Profit Sharing Bonus

Average hourly worker to receive $8,300.

by on Jan.30, 2013

A worker at the Ford plant in Wayne, Michigan assembling a new Focus sedan.

Ford Motor Co.’s U.S. workers will share in the company’s strong 2012 performance, each union employee receiving, on average, an $8.300 profit-sharing bonus.

That’s the single-largest profit-sharing payout from any domestic automaker since the United Auto Workers Union introduced the program as a trade-out for concessions during 1983 contract negotiations.

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The profit-sharing program is tied to Ford’s earnings in North America where it reported a pre-tax profit of $8.3 billion for 2012. The maker meanwhile reported it earned $1.7 billion before taxes during the fourth quarter, Ford’s best figure for the three-month period in more than a decade. However, net income for all of 2012 declined $307 million, excluding special charges, to $5.7 billion.


Ford Q4 Pre-Tax Profit Best in Over a Decade

But Europe's woes drag down Ford's full-year earnings.

by on Jan.29, 2013

Demand for Ford's newest models buoyed North American earnings - but quality issues with models like Escape could also pose a drag.

Ford Motor says it made the highest fourth-quarter pre-tax profit in more than a decade. It earned $1.7 billion last quarter, due largely to increases sales of trucks and SUVs and higher prices for all models.

That was 31 cents a share, beating Wall Street forecasts which had ranged from 25 to 28 cents.

For all of 2012, the automaker’s net income was $5.7 billion, down $307 million than a year ago. It excludes some special charges.

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“The Ford team delivered strong results once again, underscoring that our One Ford plan is working,” proclaimed Alan Mulally, Ford president and CEO. “We are well positioned for another strong year in 2013, as we continue our plan to serve customers in all markets around the world with a full family of vehicles — small, medium and large; cars, utilities and trucks — with the very best quality, fuel efficiency, safety, smart design and value.”