Thank you, Mr. Chairman.
I would like to thank you for your testimony. It is important testimony, in my opinion, because you have shown us just how much more complex the issue is than Mr. Paterson's comments suggested. His description of the situation was quite simplistic.
We now know, however, that there are two companies rather than one, that you had access to the best equipment, and that you worked hard and creatively to bring down costs. In other words, you did what you were asked to do as good unionists and workers. Yet you seem to be taking the rap for the bad decisions made by the company over the years and for its lack of judgment. It didn't invest enough and, if I understood correctly, gave you no mandate with respect to the products which had a better future. So, what you told us today is very important.
Just to complete the discussion on pension plans, if I understood you correctly, no current retiree will be receiving less money than expected as a result of the restructuring. Current pensioners are therefore well protected. Is that correct?