Correct me if I'm wrong. As I understand it, management came to the table and told the union the with the looming cost of The Affordable Care Act they could not remain solvent without reducing wages and benefits. The union said no, (Stupidly or not) so the company will shut down. Now as a side note, the unions supported Obama so it's like cutting off their nose to spite their face. They should have listened.
If I was that management I would not go into a loosing game like The Affordable Care Act provides. I would simply close, liquidate assets and call it a day. I would not struggle with impending doom and loss of everything. I would not get in a position to have to file bankruptcy because that would place my company under the rule of the courts. Can't blame the company, take what you have and get out. I have a feeling this is not near the end of that kind of decisions.
