Finally, 411A, a sensible, un-biased-against-AA posting...did it hurt?
For what it's worth, though, I agree with you completely - very sad for the employees involved. Like you, I wish them all the best in troubled times.
Here's a chance for you and, dare I say it, Guv, to explain the management side of these sort of situations (no malice intended - let's just hear another side of the story...). Let the discourse begin.