[pvn]

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I find this argument very interesting. Here we had a company GM that made an agreement with its workers in return for their labor to give them a certain salary and deferred benefits in the form of pensions. This was to the benefit of the company management (performance oriented bonuses) and shareholders (access to cheap fund for their company growth).

Now due to incompetence of the company management of allocation of its management responsibilities to incompetents, the funds (rightly the employees) cannot provide the benefits , not only envisaged, but promised.

I think that the suckers, the ones at the bottom of the wealth hierarchy got done once more! GM ought to be sold to some company that will pay the workers their past entitlements, or the directors and all those responsible for their false promises, should be sued for everything they have!

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GM ought to be sold? To whom? You would force someone else to buy it, and to make good on these promises which are economically impossible to fufill?

Basically it sounds like you're advocating a bailout for the "bad guys" here.

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PS withdrawal of labor is the only recourse left when employers default on their obligations

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Duh.