He is very lucky to get his job back, but if it was me I would not have accepted those terms and put my name to the final newspiece. I would have fallen on my sword, moved on to other things, and held my head high.
I'm glad Joe chose to stay. His public statement was probably necesarry in law - one of the tests in unfair dismissal is whether a relationship can reasonably continue between the parties. He will be useful to help keep the industry sane. Hopefully you'll move onto another industry with an attitude like that - your not much use here!