Automaker profit sharing to positively impact the local economy

It looks like auto industry workers, still a major force in Detroit, might take those bonus checks on a spending spree.

Excerpt:

"Mark J. Perry, an economist at the University of Michigan at Flint who is also a scholar at the American Enterprise Institute, said in an e-mail that “rising stock prices are often shared with workers” through profit-sharing and bonuses.

One example, he said, is the auto industry...

In total, Perry said more than $360  million in profit-sharing checks will be paid out by Detroit’s Big Three automakers. The ripple effects in the region will be big, he said, with the money sure to go to down payments on homes, remodeling projects and other big-ticket items."

More here.