He’s right. I’ve been giving the unions a bad rep in conversation, but to be truthful if they are only 7% of overall expenses, these companies shouldn’t be saying it’s their faults. The real issue seems to be unethical investing of pension funds in the markets, most likely trying to make a buck on top of paying the pensions. These legacy costs should not be removed off the books to save the money… that’s people’s pensions that they agreed too and worked for. If you ask me, and I know no one really is, these companies have a horrible business model. But can you really blame them? Our whole society was built on buying Escalades and Denalis when the Asians’ were working on fuel efficiency. They knew that’s where the market was going, but the big 3 fell for the big balla whips. Bad judgement call I think.