The arbitrator was bang on the money, so to speak, when awarding the monies that he did in this case.

Everyone's a winner in this one! Management gets another 3 year deal on top of the last 3 years meaning that they have had labour piece for 6 years during a very turbulent period (restructuring). Employees, on the other hand, modestly move forward and enjoy the same long term labour peace as their management partners.

Sometimes, it's best to have others (arbitrators) decide these thorny issues given the ramifications and potential outcomes had such decisions be left to the contracting parties.