It's a gamble and likely beyond their abilities at that level. They actually could be found in breach of their fiduciary responsibilities, if this move lowers the value of their holdings. Remember, they are underfunded by 9.8 Billion and they need the shares at full value to recoup that. Going to IPO right now means they could lose about 4.5 billion. Look back at GM. They needed $55 per share to break even. Their IPO went off at $33. Losing their unions and funds, $22 per share. Interesting how this will all play out.