People have lost or taken "haircuts" on pensions for decades. Autoworkers were able to avoid it much longer than most of us, but now it has to happen. Why should autoworkers be protected any more than any other worker, millions have taken this hit before now?
With all due respect, whether you're an autoworker or any other line of work with a pension/retiree health care, if you've thought for all these years that nothing could ever happen to your pension over the course of your life, you have been unconscious. The huge "legacy" costs in domestic cars has been written about over and over. Now there isn't going to be a domestic auto industry unless management, workers, suppliers, dealers, retirees, taxpayers and everyone else with a stake doesn't sacrifice - and IMO none should come out unscathed. And that's why bankruptcy is probably the only solution, every stakeholder expects other stakeholders to take the hit, but not themselves, 'not another nickel, I've given enough.'
It's sad, but everyone knew this day would come and it is what it is...