From Treasure of the Sierra Madre:
"An ounce of gold, mister, is worth what it is because of the human labor that went into the findin' and the gettin' of it."
If a employee performs, he does well in his job. If a business owner runs his business well, he does well. An executive does not need to perform well to do well.
When union rank and file perceive that a particular management team is acting in bad faith, looking out only for themselves, and running the company into the ground, the union will not make concessions because they know its only a matter of time anyway.
Oh, by the way, this is a messageboard of stockholders, the ones who get wiped out in a liquidation BK.
We are discussing a management team (or teams) that ran a company into the ground twice, likely wiping out stockholder equity the first time around, and certainly the second.
A good portion people who are stockholders here are giving an automatic pass, rationalizing and justifying management that serially wipes out stockholders because It must be the employees fault. If employees would just agree to live worse, the stockholders wouldnt need such a thing as good management to live better.