So says the headline of this Business Week article, and basically, if you read what has been revealed about the contract, that is basically the case.
GM gets:
Offloading of health care program to the union
Lower starting salaries for new hires
Reduction in "Jobs Bank" program
A two-tiered wage structure
UAW gets:
No wage or benefit reductions (notice, no increase either)
A commitment from GM to invest in US factories (although no specifics are given)
There are some that theorize that the strike by the UAW was simply a ploy to show their rank-and-file members that they were fighting the "man," when all along, they knew they really had a very weak bargaining position. Thus a 2-day, practically meaningless strike.
Capitalism wins, labor loses, there is no other way to read this.
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