Is this a story about how a new CEO destroyed a company? Or how the UAW got too greedy and destroyed a company?
He also kept giving out bonuses to the salaried employees while playing hardball with the union, which is just petty, spiteful, and vindictive. He also didn’t cut his own salary. He put the union in the position they couldn’t opt to cut their salaries to save the business because he was intentionally enriching everybody BUT the union while the company failed.
Unions were willing to work with other companies in the early 80s during the oil / financial problem, but from everything I read it was a two way street and their priority was the workers they represented.