This is a very slippery slope. Doing this wouldn’t necessarily save the company from chapter 11 later on. Our deferred compensation could then be erased in bankruptcy before it is ever paid.

I have no sympathy for our executive management team and the billions they burned away on buybacks. We must stand firm against any form of concessions. As this progresses, they may or may not take the company through chapter 11 and extract concessions from us through an 1113 filing. But let’s not voluntarily give away pieces of our contract now, only to have them double-dip in the future.

SILs and voluntary leaves are plenty of action on our part to help control the cash flow for now.