Chapter 11 Benefits Battles Get Fierce - WSJ.com

AND BLAME WHO? Chapter 11 Benefits Battles Get Fierce - WSJ.com: "- Sent using Google Toolbar"

One wonders why the retirees don't sue their union and union leaders for having put in place unrealistic compensation and union work rules that forced the companies into bankruptcy.

If economic times and the competitive environment changes, then so must labor relationships. But, to take one look at unionized labor conditions is to make it clear that unions just don't get it.

Whether the outsized levels of public employee pay and benefits to the treatment of investors vs. the union in the GM restructuring.

Sad, but true, things have to change. The fact that some finance businesses have been able to stay competitive while lots of blue collar positions have become grossly overpaid unfortunately should not be a cause of jealousy but an incentive to get more education and make all jobs reflect their value in the market.

Of course, this is anathema to unions and the Democrats who want to go back to the Carter years when the economy was seen as stagnant and redistribution the only option. One look around the world and at US history shows economies can grow - but, not when redistribution trumps reward for effort and risk taking.