That's why I put the ? mark. I believe some of the businesses they are involved in are unionized and others aren't. The point remains that the primary risk factor is whether the business is unionized or not.
But no matter what the union status, this case stands for the proposition that common stock owners can pressure the government to step in and give them preference over preferred stock owners and bond holders in the event of a bankruptcy. Hence there is no more incentive to purchase bonds. Companies will have to resort to selling common stock to do long term financing thereby diluting the value of common stock and driving the market down. The value of preferred stock will likewise drop because there is no incentive to purchase it if it is not given "preferred" status.
This precedent will drive down the value of all stocks and all bonds. It is a perfect storm for a complete financial meltdown.
Somehow I think this is a planned action to make 401k's worthless so that the government can institute some government run retirement fund in addition to Social Security.
If Obama isn't the Anti-Christ, then he is Satan himself.
No wonder he can't produce that Birth Certificate. He was around before paper was invented.