Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Workers belonging to the United Electrical, Radio and Machine Workers union began their peaceful occupation of the plant on Friday after family-owned Republic Windows & Doors said it was closing after Bank of America canceled its line of credit.
The workers said Republic Windows & Doors gave them only three days notice of Friday's closing instead of the 60 days required by law, and owes them roughly $3,500 per worker including unused vacation pay.
A union spokeswoman said Bank of America is not letting the company pay the workers.
"We're just shocked that Bank of America, after receiving $25 billion in bailout money, not only do they refuse to extend credit to companies but, to add insult to injury, they don't allow these companies to fulfill their legal obligations to their workers," union spokeswoman Leah Fried said.
The company told employees Tuesday that its main lender, Bank of America, had canceled its line of credit because of a severe downturn in business at the plant....
Bank of America said in a statement that it isn't responsible for Republic's financial obligations to its employees.
The union said company officials didn't show up for a meeting Friday, but the two sides are scheduled to meet 4 p.m. Monday to negotiate, workers said.
I can buy that more than I can buy a story about a BofA boycott due to taking bail out money. They didn't even want to take it, but had to in order to not narrow down who needed it and who didn't.
Well, I thought that was a quote by the Gov of Il - that BofA has accepted "bail out' money yet the average guy on the street was not benefitting - the taxpayers whose money BofA had accepted . . . so it makes sense it has to do w/ the Gov reacting to those laid off factory workers . . .
Gov. Rod Blagojevich said this morning the state of Illinois "will suspend doing any business with Bank of America" until the company restores credit to the shuttered Republic Windows & Doors company on the North Side.
The governor said the state has "hundreds of millions of dollars" in dealings with the bank.
Governor pressures bank in worker sit-in - Chicago Breaking News (http://www.chicagobreakingnews.com/2008/12/plant-sit-in-in-4th-day-meeting-scheduled.html - broken link)
Company didn't pay the severance pay for 60 days that the workers were entitled. The entitlement was from a private company, not Bank of America. Looks like another strong union company gone awry. Why not pass the buck?
That's why the bailout shouldn't have happened. The banks were careless with their own money in the first place and should have got slapped for it but didn't. Instead they get money. So this time around they decide they should be careful with it and now people are protesting that.
If the government wanted to decide who should get loans and who shouldn't then why did they bother giving BOA (or any bank money). Why not take the bailout money and start The US Congress Bank and do it themselves? I really don't get it.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
