Shane Nokes, on 17 November 2012 - 01:25, said:
Which just goes to show that you still weren't paying attention to what I was saying...I said both sides were losers in this.
I don't praise either side for their actions. That's part of my point. The workers left rather than continuing to work...and the company owners decided to liquidate before things went completely down the tubes.
No one wins...no one is awesome in this.
If the striking workers quit, they would up and lose $2billion in pensions. By striking and forcing the liquidation through bankruptcy, they get most of that. If they conceded and came back to work at lower rates, they lose that pension as well.
At some point, labor has to say "we've already given a lot, we're going to take what we can and move on", the exact same thing that the hedge funds are going to do.