Workers Refuse to leave after getting laid off

[Wheezer]

CHICAGO (Reuters) ? Invoking Main Street resentment of Wall Street's federal bailout, some 200 workers entered their third day of occupying a shuttered Chicago window and door factory on Sunday, demanding that Bank of America agree to pay them severance plus vacation pay.

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 downturn in home construction doomed the plant, which has manufactured windows and doors for more than 30 years.

Bank of America was among several U.S. banks to receive funding from a $700 billion federal bailout package designed to stabilize the financial system.

The laid-off workers hoisted placards saying, "Bank of America: You got bailed out. We got sold out."

According to the Chicago Tribune, the bank said it was not responsible for Republic's financial obligations to its employees. A Bank of America spokesman was not immediately available for comment.

Officials of Republic Windows & Doors also could not be reached for comment.

The parties were expected to meet on Monday.

U.S. Rep. Luis Gutierrez, an Illinois Democrat, and Chicago-based civil rights leader Rev. Jesse Jackson were lending support to the workers.

Glad to see these guys make a stand.

While I do not agree with any bailouts, if BoA is not fulfilling their obligations as required after getting bailout money what was the point? Perhaps taking it all back and giving it to businesses that would use it responsibly and can put it to good use is the answer.

 

[Dman877]

Both sides have valid arguments. Bank of America isn't responsible for legal obligations of people they lend money to. They also have a right to withhold credit as they see fit. If anything, the company's assets should be liquidated and the employees compensated.

 

[dmcowen674]

Originally posted by: Dman877
Both sides have valid arguments. Bank of America isn't responsible for legal obligations of people they lend money to. They also have a right to withhold credit as they see fit. If anything, the company's assets should be liquidated and the employees compensated.

BoA assetss should be liqudated too under that argument.

 

[Capt Caveman]

It's the company problem, not BoA. Why should BoA continue to provide credit to a company that can't pay it back?

 

[dmcowen674]

Originally posted by: Capt Caveman
It's the company problem, not BoA. Why should BoA continue to provide credit to a company that can't pay it back?

Why should us taxpayers give money to BoA that they are not going to pay back?

 

[Eeezee]

Originally posted by: Capt Caveman
It's the company problem, not BoA. Why should BoA continue to provide credit to a company that can't pay it back?

The banks have been cutting lines of credit across the board. Even good lines have been restricted or completely cut.

I think there's a little more to this story, like whether the company has been making payments on time. If they have, clearly this is BoA in the wrong for taking bailout money and sitting on it rather than using it for its intended use.

 

[Farang]

These economic problems were caused by banks making bad loans. Now some of you are complaining because a bank is refusing to make a bad loan.

 

[Capt Caveman]

Originally posted by: dmcowen674

Originally posted by: Capt Caveman
It's the company problem, not BoA. Why should BoA continue to provide credit to a company that can't pay it back?

Why should us taxpayers give money to BoA that they are not going to pay back?

Stop posting. I can't understand why an idiot like you would think it was alright to install SETI on computers you don't own and cry when you got into legal trouble over it.

 

[Dman877]

Originally posted by: dmcowen674

Originally posted by: Dman877
Both sides have valid arguments. Bank of America isn't responsible for legal obligations of people they lend money to. They also have a right to withhold credit as they see fit. If anything, the company's assets should be liquidated and the employees compensated.

BoA assetss should be liqudated too under that argument.

If we prop up banks just so they can prop up failing businesses, we are just going to delay the inevitable. In this case, maybe with their credit line, the company stays in business and weathers the economic downturn. That isn't really clear from the article though. Seems to me if it was a company worth propping up, they wouldn't need to be propped up.

The bank bailout is a separate issue. We all know that wall street executives can't wipe their arse with anything but 100's so we had to help them a little.

 

[frostedflakes]

Originally posted by: Eeezee

Originally posted by: Capt Caveman
It's the company problem, not BoA. Why should BoA continue to provide credit to a company that can't pay it back?

The banks have been cutting lines of credit across the board. Even good lines have been restricted or completely cut.

I think there's a little more to this story, like whether the company has been making payments on time. If they have, clearly this is BoA in the wrong for taking bailout money and sitting on it rather than using it for its intended use.

This. Unfortunately, I can't seem to find details on *why* their line of credit was eliminated.

 

[ProfJohn]

Originally posted by: dmcowen674

Originally posted by: Dman877
Both sides have valid arguments. Bank of America isn't responsible for legal obligations of people they lend money to. They also have a right to withhold credit as they see fit. If anything, the company's assets should be liquidated and the employees compensated.

BoA assetss should be liqudated too under that argument.

So banks are now responsible for paying every person who has ever worked for any company they have made loans to in the past?

 

[frostedflakes]

Originally posted by: frostedflakes

Originally posted by: Eeezee

Originally posted by: Capt Caveman
It's the company problem, not BoA. Why should BoA continue to provide credit to a company that can't pay it back?

The banks have been cutting lines of credit across the board. Even good lines have been restricted or completely cut.

I think there's a little more to this story, like whether the company has been making payments on time. If they have, clearly this is BoA in the wrong for taking bailout money and sitting on it rather than using it for its intended use.

This. Unfortunately, I can't seem to find details on *why* their line of credit was eliminated.

Found this in another news story.

Fried said Republic Windows & Doors had been hard-hit by the downturn in the housing market but could likely have managed to keep the business afloat if their credit had not dried up.

"This is a company that's been around for 48 years. They've been through quite a few ups and downs in the housing market and they probably could have gotten through this, but Bank of America decided to cut off the financing despite the bailout they received (from the government) and now these people are out on the street."

 

[dmcowen674]

Originally posted by: frostedflakes
Found this in another news story.

Fried said Republic Windows & Doors had been hard-hit by the downturn in the housing market but could likely have managed to keep the business afloat if their credit had not dried up.

"This is a company that's been around for 48 years. They've been through quite a few ups and downs in the housing market and they probably could have gotten through this, but Bank of America decided to cut off the financing despite the bailout they received (from the government) and now these people are out on the street."

Sad

The thread is full of Republican/BoA apologists

 

[Capt Caveman]

Originally posted by: dmcowen674

Originally posted by: frostedflakes
Found this in another news story.

Fried said Republic Windows & Doors had been hard-hit by the downturn in the housing market but could likely have managed to keep the business afloat if their credit had not dried up.

"This is a company that's been around for 48 years. They've been through quite a few ups and downs in the housing market and they probably could have gotten through this, but Bank of America decided to cut off the financing despite the bailout they received (from the government) and now these people are out on the street."

Sad

The thread is full of Republican/BoA apologists

Obama and the Democrats approved of the bailout, dumbass.

 

[dmcowen674]

Originally posted by: Capt Caveman

Originally posted by: dmcowen674

Sad

The thread is full of Republican/BoA apologists

Obama and the Democrats approved of the bailout, dumbass.

Really? Where was I when Obama became President?

How did he accomplish that before he got sworn in?

He must truly be a Mystical.

 

[cubby1223]

Originally posted by: dmcowen674

Originally posted by: frostedflakes
Found this in another news story.

Fried said Republic Windows & Doors had been hard-hit by the downturn in the housing market but could likely have managed to keep the business afloat if their credit had not dried up.

"This is a company that's been around for 48 years. They've been through quite a few ups and downs in the housing market and they probably could have gotten through this, but Bank of America decided to cut off the financing despite the bailout they received (from the government) and now these people are out on the street."

Sad

The thread is full of Republican/BoA apologists

To paraphrase "Get the fuck out of my country you evil republicans"

See how my little suggestion in your other thread could save you time and speed up your posting?



Banks failed partially because government regulations demanded they loan money to people / companies who cannot pay it back. That's the root of the housing industry failure, people not able to repay mortgages. So in your world, the solution to fixing the economy is to continue loaning money to people / companies who cannot pay it back?

Really, Dave, what is your solution? Blame is not a solution.


It's easier to just put the above quote in your signature and say nothing else.

 

[cubby1223]

Originally posted by: dmcowen674

Originally posted by: Capt Caveman

Originally posted by: dmcowen674

Sad

The thread is full of Republican/BoA apologists

Obama and the Democrats approved of the bailout, dumbass.

Really? Where was I when Obama became President?

How did he accomplish that before he got sworn in?

He must truly be a Mystical.

He voted for it as a Senator you dumbass.

 

[Capt Caveman]

Originally posted by: dmcowen674

Originally posted by: Capt Caveman

Originally posted by: dmcowen674

Sad

The thread is full of Republican/BoA apologists

Obama and the Democrats approved of the bailout, dumbass.

Really? Where was I when Obama became President?

How did he accomplish that before he got sworn in?

He must truly be a Mystical.

Again, stop posting moran.

Obama was a Senator and voted for it. He even pleaded that this bail-out was needed as did all of the Democrats that voted for it. The President doesn't have a vote also.

Go away and troll elsewhere.

 

[dmcowen674]

Originally posted by: cubby1223

Originally posted by: dmcowen674

Banks failed partially because government regulations demanded they loan money to people / companies who cannot pay it back. That's the root of the housing industry failure, people not able to repay mortgages. So in your world, the solution to fixing the economy is to continue loaning money to people / companies who cannot pay it back?

Really, Dave, what is your solution? Blame is not a solution.

The solution is for all of you to leave this country so us real Americans can get going on re-building it.

Thankfully it's getting more untenable by the day for you guys even before Obama takes office so that;s good news.

Hopefully you guys will start flying out of here in droves in January. :thumbsup:

 

[Capt Caveman]

Originally posted by: dmcowen674

Originally posted by: cubby1223

Banks failed partially because government regulations demanded they loan money to people / companies who cannot pay it back. That's the root of the housing industry failure, people not able to repay mortgages. So in your world, the solution to fixing the economy is to continue loaning money to people / companies who cannot pay it back?

Really, Dave, what is your solution? Blame is not a solution.

The solution is for all of you to leave this country so us real Americans can get going on re-building it.

Thankfully it's getting more untenable by the day for you guys even before Obama takes office so that;s good news.

Hopefully you guys will start flying out of here in droves in January. :thumbsup:

Gotta like how the dumbass deflects the questions again b/c his limited brain capacity can't even understand the situation nor is able to develop an opinion or solution himself.

Dave, when are you leaving the country? You obviously hate America. You're completely ignorant to the fact that the Democrats are as much to blame as the Republicans. You revel in the bad news that this country faces.

 

[dmcowen674]

Originally posted by: Capt Caveman

Gotta like how the dumbass deflects the questions again b/c his limited brain capacity can't even understand the situation nor is able to develop an opinion or solution himself.

Dave, when are you leaving the country? You obviously hate America.

You're completely ignorant to the fact that the Democrats are as much to blame as the Republicans. You revel in the bad news that this country faces.

Yes, yes Democrats suck. I hope they suck so bad you and your buds can't stand it. :thumbsup:

 

[Capt Caveman]

Originally posted by: dmcowen674

Originally posted by: Capt Caveman

Gotta like how the dumbass deflects the questions again b/c his limited brain capacity can't even understand the situation nor is able to develop an opinion or solution himself.

Dave, when are you leaving the country? You obviously hate America.

You're completely ignorant to the fact that the Democrats are as much to blame as the Republicans. You revel in the bad news that this country faces.

Yes, yes Democrats suck. I hope they suck so bad you and your buds can't stand it. :thumbsup:

I'm a Democrat, moran. So, the Democrats share no blame for this country's situation?

Stop posting here. Go post in the Distributed Computing forum.

 

[SagaLore]

Woohoo, the government should bailout the United Electrical, Radio and Machine Workers union.

 

[Polish3d]

Originally posted by: dmcowen674

Originally posted by: Dman877
Both sides have valid arguments. Bank of America isn't responsible for legal obligations of people they lend money to. They also have a right to withhold credit as they see fit. If anything, the company's assets should be liquidated and the employees compensated.

BoA assetss should be liqudated too under that argument.

Uhh no

 

[dmcowen674]

Originally posted by: Polish3d

Originally posted by: dmcowen674

Originally posted by: Dman877
Both sides have valid arguments. Bank of America isn't responsible for legal obligations of people they lend money to. They also have a right to withhold credit as they see fit. If anything, the company's assets should be liquidated and the employees compensated.

BoA assetss should be liqudated too under that argument.

Uhh no

Awwwww you work for a bank getting bailout money