I have a slightly different interpretation:
Briefly (because I am getting ready to leave):
The Judge basically understands that the in order for the Debtors to emerge from bankruptcy protection and successfully reorganize, the Debtors need to retain key employees.
Judge approved said compensation/bonus scheme and basically said frack you to the Unions who threatened to strike and force Patriot Coal into liquidation.
If the Unions strike, who cares . . . now you are able to retain key employees and hire NON-UNION workers, the workers who really want to work. Grunt workers are a dine a dozen... With unemployment so high in the United States and the economic recession we are in, the UNION does not care, they do NOT want to negotiate as evidenced in the last year.
Look at the non-union workers, they came to an agreement and settled. The Union continues to drag their feet.
Hostess is a great example how the Union does NOT give a frack...
Gotta go. Have a nice weekend.
imo
