Pinnacle Concession Update
"Negotiations Update
No negotiations have taken place this week because the company has made a permanent 5% wage cut a precondition to further discussions. We are not willing to agree to that precondition because none of the financial data we have reviewed supports it. We continue to be willing to meaningfully address our company’s challenges and remain available to meet at any time, but no future talks are currently scheduled."
Ok folks there it is. The union is calling the bluff and it looks like we may not even vote. So one of two things will happen: SM will file ch. 11 or we're in the clear. No more vote talk, it's now time to see the company's hand.