Here’s yet another example of how union contracts may be “set aside”–via bankruptcy courts (just like already happened to the public worker’s union contracts in Vallejo, CA):
The Detroit Public Schools may have no choice but to file for Chapter 9 bankruptcy, which would make it the first big-city school district to use bankruptcy court to avoid paying millions to vendors, employees and bondholders, experts said Thursday.
A bankruptcy filing could reduce the amount DPS will pay vendors and bondholders. It also could allow a judge to rule on DPS’s requested changes to employment contracts. (Source.)
It is not enough that labor’s share of the nation’s income has declined over the last decade. Breaking of labor union contracts attempts to protect the income of others at the expense of labor.
Interestingly, this process is accelerating under a Democrat President’s administration.
Disclosure: I am a Professor of Business at CSU and a member of the CFA teacher’s union.