A federal judge jumped in the middle of the Twinkle spiral and ordered both the owners and the union to come back to the table. The deal from the owners from last week was simple.....take a eight-percent pay-cut off your salary, and the union ends up with twenty-five percent ownership of the company. On top of this....the employees would have to start paying seventeen percent of healthcare costs....which they currently pay zero.
My guess is that a huge number of union guys woke up this weekend and realized that a lower wage was better than termination.
The problem with this deal? The union now becomes full-up owners, and might be shocked at the profit-line of the company. The union management would easily have to start taking realistic stands on future benefits and actually firing folks who are hurting the company.
The federal judge may be thinking that he's helping the employees....but in the end....they only buy themselves another year or two before things really fall apart.