As goes Ford, so goes America?
It appears that demand, supply, and capitalism briefly won - while 'fairness', 'patriotism', and all the other non-free-market interventionism lost - in the UAW-Ford negotiations...
Ford Motor Co. said its new four-year contract with the UAW will increase its U.S. labor costs by less than 1.5 percent annually by letting the company hire more low-cost workers and move production to factories in other countries.
The agreement - ratified by 51.3% of Ford production workers allows..
The contract allows Ford to hire an unlimited number of entry-level workers, who start at a lower wage than veterans, after a previous limit of 20 percent of its workforce as new hires.
In addition, Ford said it will be able to use more temporary workers, who also are paid less.
The agreement gives the automaker “the flexibility to leverage Ford’s global manufacturing footprint to improve cost competitiveness,” according to the statement.
The Ford deal, the richest of the contracts the UAW negotiated with the Detroit 3 this fall, promises $9 billion in factory upgrades and expansions that create or keep 8,500 jobs in the U.S. The pact provides across-the-board raises and $10,000 in bonuses upon ratification.
So to translate - union workers just agreed a contract which "creates or keeps" some jobs - sounds familiar; provides some short-term bonuses... but enables Ford to offshore American production and rotate from high-paid to low-paid jobs.
Still a job is a job is a job right? Even if it pays drastically less?
Does not sound like President Obama or Hillary will be happy about this kind of non-patriotism?