Skip to Content.
Sympa Menu

homestead - Re: [Homestead] Economic 'sit - in'

homestead AT lists.ibiblio.org

Subject: Homestead mailing list

List archive

Chronological Thread  
  • From: Gene GeRue <genegerue AT ruralize.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Economic 'sit - in'
  • Date: Sun, 7 Dec 2008 04:44:12 -0700

Here is the crux of the matter. We taxpayers gave BofA twenty-five billion dollars. BofA shut off the credit line to this business because their sales fell of sharply during the past month. The workers were given very short notice.



Day 2 For Workers At Shuttered Window Plant
Union Claims Bank Of America Cut Off Financing For Republic Windows And Doors

CHICAGO (AP) ― Workers who got three days' notice their factory was shutting its doors voted to occupy the building and said Saturday they won't go home without assurances they'll get severance and vacation pay they say they are owed. . . .

Organizers of the action said the company can't pay employees because its creditor, Charlotte, N.C.-based Bank of America, won't let them. Crain's Chicago Business reported that Republic Windows' monthly sales had fallen to $2.9 million from $4 million during the past month. In a memo to the union, obtained by the business journal, Republic CEO Rich Gillman said the company had "no choice but to shut our doors."

Bank of America received $25 billion from the government's financial bailout package.

"Across cultures, religions, union and nonunion, we all say this bailout was a shame," said Richard Berg, president of Teamsters Local 743. "If this bailout should go to anything, it should go to the workers of this country."

Outside the plant, protesters wore stickers and carried signs that said, "You got bailed out, we got sold out."

From:
http://cbs2chicago.com/local/republic.windows.sitin.2.880850.html



Archive powered by MHonArc 2.6.24.

Top of Page