Deals Between the Big Three and UAW Shine Light on the Global Class War

Any serious examination of the contracts' terms reveal that they are a continuation of the corporations' class war against workers.

The tentative agreements between the United Auto Workers and Ford, Stellantis, and General Motors are being universally praised in the media, by the UAW, and by the Biden administration as 'historic,' 'record' contracts which will restore past concessions.In a statement on Oct. 30, Biden said, 'With this landmark agreement with GM, the UAW has now reached historic tentative agreements with all of the Big Three American automakers.

Automotive executives have made clear they welcome the deals and expect to counteract any modest increase in labor costs by increasing 'efficiency' and finding other savings, as Ford's CFO said in an investor call last month.What does Wall Street think? Just a few days after the UAW-Ford deal was announced, S&P Global raised the company's bond rating from junk to investment grade for the first time since 2020.

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