If this ain't bad enough, then I sure as hell don't know what is...
What this means is that the United States federal government has pretty much nationalized and taken over a private company. It's likely not going to be called that officially, but the policy is still the same.
Has a President of the United States ever done anything like this, in the history of this country? Certainly not in recent memory. The closest I can think of is what happened between Ronald Reagan and the air traffic controllers' union... but not Reagan or any other President in living recollection ever seized enough control of a company to call the shots about who it hires.