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SW Saskatchewan | As you have probably seen, Air Canada is going the bankruptcy route after dipping their toes in the water in 2004.
What makes this interesting is that the CAW is one of the unions involved, and they have made no secret that they are right pi##ed that after they made major wage concessions, staffing changes and benefits reductions, management looted the post-bankruptcy company by selling off any profitable divisions and continuing the golden rule for top brass, driving the company to bankruptcy again.
Now, it looks like the pension fund is history whether or not they go into bankruptcy so the Auto workers are going to have a free peek at what they will face if they allow GM to have a get out of Jail Free Card .
From my viewpoint, ain't no way in hell that Obama or Stephen Harper is willing to face the wraith of organized labour. After years of having smoke blown up their butt while the Union Brass sat at managements table, I forsee it likely that at least Canadian labour will wobble if they see management and investors being left anything but an empty bucket.
Not since the 30's have we seen a situation where a plummet in real wealth and double digit unemployment come together. I suspect union anger that may lead to a general strike like they have in France.
JMHO | |
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Auto Workers and GM bankruptcy-WyDave
