My UAW sisters and brothers approved a four-year contract that ends a long strike at American Axle. When I first wrote about the strike, it seemed obvious that the company wanted to destroy the basic standard of living that made it possible for people to have a decent life. And, indeed, that is what has happened:

The eighth-longest strike ever for the United Automobile Workers union ended Thursday as workers at American Axle and Manufacturing approved a four-year contract that the U.A.W.’s president had described as subpar but “the best we can do.”

Under the deal, about 3,650 workers at auto parts plants in New York and Michigan, who had been on strike for 87 days, will earn an average of $10 an hour less. The workers can choose either to take a buyout of up to $140,000 and leave, or to stay and receive three annual “buydown” payments totaling as much as $105,000 aimed at helping them adjust to the lower wages. Those who are eligible will also be offered the possibility of early retirement which includes a $55,000 payment.

    The supreme outrage here is that this wasn’t a case where the company was floundering and close to bankruptcy. The company was making money.  It went after its workers simply because it could–and to fatten the bottom line.

“With the economics of the times, he’s got us,” Mr. Majeske said of the company’s chief executive, Richard E. Dauch, whom U.A.W. members used to revere in better times for the industry. “We’ll stick our tails between our legs and hope for something better down the road. There’s a lot of people who would kill for what we’ll be making still.”

    Dauch isn’t going to be too worried: his salary and bonuses equaled $30,957,693. That’s not including stock options that bring him millions more. Dauch: Corporate pig of the week.