Originally Posted by
hercretired
It would be Chapter 11. Yes, pretty much all union contracts are vaporized in bankruptcy proceedings.
They’re open for renegotiation like all agreements in ch 11. Not vaporized. Point being rates/retirement are the easiest targets. It’s not hard to show the reorganization math on a balance sheet to investors. Work rules normally come out pretty much intact. Making them even more valuable to hold on to in normal sec 6.
Last edited by fcoolaiddrinker; 03-28-2024 at 02:00 PM.