And existing shareholders will be wiped out.
How do I know this?
Because Ford has concluded negotiations with the UAW to allow them to fund their health care trust fund with stock.
If there is anything that I am sure of, it is that when equity in a company is used as a benefit for rank and file workers, they will be wiped out, along with other share holders, in a bankruptcy.
Call me a cynic, but just ask the United Airlines pilots.
So how is this working out for you?
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