By News on the Net -- Peter Navarro's Taking Back Trump's America—— Bio and Archives--November 7, 2023
The smashmouth victory of the United Auto Workers (UAW) over GM, Ford, and Stellantis conjures up two Wall Street clichés: “Don’t confuse brains with a bull market,” and “pigs get fed, hogs get slaughtered.”
UAW
president Shawn Fein is being rightly lauded for the innovative
strategy he used to bring the big three automakers to heel.
Historically, the UAW struck only one automaker, eventually cut a deal,
and then forced that deal on the other automakers. With this “pattern
bargaining” approach, however, the UAW steadily lost ground over the
last several decades – wage hikes lagged productivity and inflation,
plants closed, and pension benefits eroded. ---More...
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