There is quite a bit of precedent for this. After the 2001 economic crisis in Argentina, more than 200 factories, which would have otherwise been closed, were taken over and are now managed by their workers, while the Chavez government has supported such takeovers in Venezuela. factories were also common in Germany, Italy and Spain before they were taken over by fascist dictators, and still happen today in France.
It would be far easier to run the plant without having to pay inflated executive wages, which would allow the workers to undercut their corporate competitors. The only thing stopping a takeover is whether Local 1005 decides to commit to it or not. So I ask the union leadership, please, do the right thing for my father and our family, and for all the other workers and families you represent.