In rejecting wage and benefit concessions early Thursday morning, a group of machinists at United Airlines has increased the chance that the world's second-largest air carrier will be forced to file for Chapter 11 bankruptcy just as the busy holiday travel season begins.
The rejection comes as United is facing a Monday deadline for making a $375 million debt payment. United officials said Thursday that they would decide on Monday whether to make the payment or take advantage of a 10-day grace period.
Bankrupting the corporation that pays you? Now that's really, really, dumb.