Comment Re:GO UNIONS! (Score 4, Insightful) 674
I'm still not convinced this was a smart move on the part of the Union, but I can certainly understand what they were thinking!
Management and their crony lawyers could have given up their entire salary and worked pro-bono all year, and it *still* wouldn't have been enough to bring the company out of the red. Employee salaries and pensions, however, are probably at *least* a billion dollars per year (if it's only a third of revenue, which I would guess is on the low end). So making cuts to salaries/pensions would actually do something.
Your article doesn't have total amounts, but let's be generous and say that management gave themselves and their crony lawyers an extra $10 million per year. Sure, it's an insult and a slap in the face, but it's not enough to really impact the bottom line significantly.
If $10 million in management excess is the reason the union employees voted the way they did, then they cut off their nose to spite their face.