Moral Hazard

http://money.cnn.com/news/newsfeeds/articles/reuters/MTFH20297_2009-11-01_23-02-05_N01395156.htm

DETROIT (Reuters) - U.S. factory workers at Ford Motor Co overwhelmingly rejected proposed concessions it has said it needs to stay competitive, while union workers in Canada Sunday accepted cuts aimed at retaining jobs.

Why would they ever vote in favor of *giant gasp* a pay freeze. If the company goes BK Obama will negotiate so that ownership of the company is handed over to them.

There were also other comments on how the union was concerned Ford would have "skilled work" done by new hires. Is it really that skilled if it is only identified that way by a contract and anyone off the street can do it?