I've been on review boards myself with the company - and they tend to degenerate into personal decisions sometimes-eg one person campaigns for something to happen and unless the others are strong it is carried through, I tended to call a spade a spade, and perhaps I'd rubbed someone the wrong way.

Yes, once the review board decision was made, the company had to stick to it and follow through. Although there is an appeal process, each manager felt unable to overturn his subordinates decision as it would look unsupportive, I know they wanted me to stay with the company, as this was always available. The labour hearing was quite funny, when every time they tried to challenge my statement, it became clearer and clearer to them they couldn't and they accepted my request.
There were a few cases prior to mine of unfair demotions, which pilots accepted as they were afraid of action, mainly since, as I am now, it "looks bad". Through keeping in contact with my colleagues I've believe it has not happened since.
I think we should really look at this type of thing like we look at incident/accident reports, that non-blame/non-punitive type thing, labour action is/can be a good thing for a good employer and a good employee, it's just a matter of finding out what is right.
Ah again sorry for the long post, it's kind of bugging me.