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Yep. I've always thought a company shares the rewards AND risks with its employees. A company has no ethical right to withdraw agreed upon benefits and pensions to its employees and keep them for the brass. There should be one rule for high and low alike.

(Denny Crane: "Sometimes you can only look for answers from God and failing that... and Fox News".)

"A company has no ethical right to withdraw agreed upon benefits and pensions to its employees and keep them for the brass."

I would think that the stricture is more than ethical. I mean really, this is simply fraudulent. The workers take on what is, in effect, a contractual IOU in lieu of current wages and top management takes this, bankrupts the company and defaults on the IOU. Gotta be illegal if you ask me.

You might observe that since 2000 this administration has been receptive and friendly to large corporate interests who would prefer to dump their labor agreements, pension obligations and statutory compliances through bankruptcy. At the same time, the new bankruptcy law makes it virtually impossible for debt ridden ordinary folks to make a fresh start. While huge corporations have transferred their debts and pension obligations to the public for payment, the ordinary Joe is required now to avoid liquidation and must arrange a payment schedule to the credit card banks that prevent their fresh start. We have effectively recreated the concept of debtors prisions for the working stiff as we allow corporation managers to escape with large pay-outs as their company escapes the plight that the average guy suffers.

But, we did it to ourselves by buying into the fiction that Bush and company would create an American paradise if we only abandoned our enlightened self-interests and allowed the Rove and religious ideologues group to manage our morals as they released corporate America to determine our fiscal, foreign, energy and domestic policies.