Well, it's a touchy subject:
In a nutshell:
Understand there is a differance between public education, and college for the most part. Up until High School teachers are by and large paid and receive benefits out of your tax dollars. It can be a touchy subject because when teachers demand increases those increases have to come from somewhere, and that means cutting other town or state services or raising taxes. Some schools receive additional payment from donations and the like, say rich former students, philanthropists, and other things, so despite being a public service some schools oftentimes wind up far better than others due to donations and some of that money is tossed to the faculty. This can lead to discrepencies, and serious bad blood between the faculty of wealthy schools and not so wealthy ones depneding on things like districts and donations.
Also things like High School sports can be a BIG deal, oftentimes local businesses and such take up collections or offer prizes to schools for competitions. This can be anything from cash, to scholorships (which are not nessicarly athletic), to new equipment/computers/etc. The teams that win tournaments and such can pull down some serious swag for their school depending on the area and level. This is one of the reasons why Jocks are oftentimes "above the law" so to speak (leading to all kinds of problems) because of the money they can bring in for the school. No matter what he does you aren't going to expel your top flight players when they have a chance to bring in scholorships for the students, equipment, or cash which can be used to pad salaries. Of course this latter point depends where you are, in some areas high school sports are big business, in others not so much.... and this is getting off the point other than to mention where the money comes from.
In such cases whether a strike is "fair" depends on the specific situation, how much the town/state/district can afford, and other factors. In general despite teaching your children remember you might not be able to afford the raise a public school teacher wants when it comes time to raise your taxes. Teachers crying poverty is also frequently BS, even in the US. It can depend on a lot of factors, but in general the level of cash and benefits is pretty good, not to mention access to school resources which can be pretty impressive depending on the school.
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When it comes to COLLEGE teachers, which is what this is about, colleges tend to be privatly run businesses even if they receive state or town funding. I don't think this changes much in Canada/Ontario. Ultimatly whether the strikes are fair depends entirely on the guys managing the college, and how much money they are making. Basically colleges are a business, and frankly if the tuitions aren't rolling in that means it's going to be lean times all around. Colleges also heavily depend on donations and such from previous students, and in a bad economy when nobody has extra money to kick back for the sake of nostolgia, fewer people are enrolling, and people might be having trouble making payments (or banks being wary about student loans), well that can snap back on the teachers. Having the job security of a collegiate teachter/tenure can be an awesome thing on some levels, but it also means that if the school can't afford to pay you, you wind up either having to take pay cuts or quit (and lose that job security).
Even if your dealing with community colleges (or the equivilent) with public monies involved, it's still basically a business.
It should also be noted that many colleges also use their facilities for research, and invest the money they take in, oftentimes in academic pursuits. The idea being that the guy teaching a class, is someone who is actually involved in the practice of the subject. What this means is that if a college invests in a project/expedition/etc... and something horrible happens it loses a lot of money. Ditto if the investments it makes wind up crashing.
To put it in context, think of the stereotypical horror movie set up where some professor who teaches Parapsychology at a university (despite being mocked by others in his department) goes to a Haunted House to "prove" ghosts are real. The equipment and such he brings are likely actually owned by the university, and the vehicles and such might also be. Ditto for the people paying for access to the site, or whatever. Some movies and such go into this, others do not. But still, if the ghosts pop out and kill 2 graduate studens, an intern, and half a dozen student volunteers, while trashing the equipment and cars and such, that basically means all of that would cost the university, and if when all the lawsuits and such are done from surviving families the school might be looking at some salary cuts.
Hmmm well maybe a marine biologist heading out in a boat that sinks would be a better example, but less of a nerdgasm.
So basically, from my quick read of the article it's generic enough where I can't really say what side I'm on. However working for a college by it's very nature, I'd say they are likely in the wrong in the final equasion. Times are tough all over, and the economy is hitting everyone. This is a crisis because I figure even collegiate professors who are relatively shielded by the investments of their employers (for lean times) are getting hit. Heck half the problem we're facing is with the investment markets, I'm surprised we haven't seen even more chaos that we have when it comes to universities.