GM boasts nearly doubled 4Q profits - News, Weather, Sports, Toledo, OH

GM boasts nearly doubled 4Q profits

(Toledo News Now) -

General Motors is reporting an increase to its fourth-quarter profit, which means thousands of union employees in northwest Ohio will receive a profit-sharing check.

Its fourth quarter net profit nearly doubled, earning the company $898 million, which is up from $468 million in 2011.

The company announced it will be issuing profit-sharing checks of up to $6,750 to its hourly workers in March.

"We have definitely gained some traction. We see some upswing for the automobile industry and we're behind them 100 percent, just like they are for us," said Kenyetta Jones, benefits representative.

Employees say they are excited about the numbers, but not surprised because it is a direct reflection of the hard work they do everyday.

"It shows what kind of work we've been doing, how much hard work we've been doing ,and just something we are really deserving of," said Jones.

GM officials agree, saying the numbers prove the company has been establishing a clear track record of profitability. They all believe this financial boost is only the beginning.

Less than five years ago GM filed for bankruptcy. Employees say they think the company has made major steps forward over the last few years and are determined to keep this momentum going.

"It makes us even want to work even harder just to know our hard work has paid off. Just not today, but even in the future," said Jones.

Copyright 2013 Toledo News Now. All rights reserved.

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