Fascinating reading for an outsider like me.
Having dealt with the modern day management style which is based upon a bonus culture, what is Barron's motivation? Clearly it must be making all, or part of NATS saleable, or does the intended suitor demand this?
Only one answer to the pensions ballot and for me it would never be yes!*
Never trust senior management if you have something of value to lose. By the time you realise you made a mistake, they will be happily spending their bonus payments!
* I am an ex pension trustee (not CAAPS).