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travelnutz
Jul 30, 2016Explorer II
What Perrysburg Dodgeboy said is 100% accurate except for the real need to re-open the union contracts as it was a must. Simply because without any changes to the existing contracts and insane legacy costs, refinancing would have only been a short stop gap action to delay the same outcome because the uncontrolled debt would have continued to increase with no end in sight. All 3 would have had to file chapter 11 or even chapter 7.
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