Workers Refuse to leave after getting laid off

[Capt Caveman]

Originally posted by: JEDIYoda
Capt. Caveman....you have no clue what a contractor is?
A contractor does not have to work at a company or even for a company...in fact most contractors work for themselves.......if you are going to attack Dave at least you could do it intelliegently!!

What are you talking about? Do you not understand what I'm asking? Sure, he could be an independent contractor but he's been contracted out by a company. 'What company are you contracting at', reading comprehension ftl.

 

[tk149]

So...BofA is the only bank in Chicago?

Sounds like Republic Windows & Doors is a bad credit risk. Maybe the union should loan the money to Republic.

 

[theeedude]

How about we let the company deal with its problems without forcing BofA to intervene and also let BofA deal with its problems without forcing the taxpayer to intervene.
The intent of the bailout was to unfreeze lending, if companies refuse to lend, they should be forced to repay the bailout money.
Also, if company liquidates, BofA loans should be repaid only after workers are paid what they are owed.

 

[KentState]

Would anyone feel sorry for me if I ran my BoA credit card half way up, couldn't make payments, then they decided to freeze my account so I can't piss away the rest?

 

[MaxisOne]

BOFA is looking out for its own ... for a change like it or hate it .. the reason they got into this mess in the first place was from bad lending. If the Company had such excellent credit im 99.99 percent sure they would not be in this fiasco. As a matter of fact banks would love to steal a client like this from BOA if the company had such good credit.

I dont fault the Bank in any way shape or form (based on the facts presented so far).. Supposed they lend the money and the company folds ? Who gets the blame for not evaluating that the loan was issued properly for risk especially since YOU (through the Govt) loaned BOA money? I can just see all of you saying how you bailed out the Bank yet they pissed away the money when the loan goes bad.

Sorry not every company gets a free pass and the bar to meet is higher nowadays.. If your company doesn't meet the credit threshold then your shit out of luck. As the company owner you NEED to start shopping around with another bank for a line of credit and make some serious cuts in resources and output until all avenues are exhausted. Otherwise start dusting off your resume or look for a second job. Your delayed final paycheck is in the mail when the company liquidates..


Call me an apologist for the Bank all you want .. but im calling it as i see it and frankly the Bank is under NO OBLIGATION to provide you or any company a loan. If that was the case there would be no bank in the first place.

 

[dmcowen674]

Originally posted by: MaxisOne
Call me an apologist for the Bank all you want

Well at least thanks for being honest.

Still doesn't let you off the hook.

 

[Double Trouble]

Originally posted by: teiresias
The company in question is also under investigation by the state's Attorny Gen. - at least I read that somewhere.

Regardless of the facts in this specific case, the problem of banks taking the bailout money and not actually turning around and making money available is a real problem.

No, the money was not made available to banks for them to throw away as some sort of stimulus package. The money was provided to them so they would have the liquidity available to make loans when and if a qualified person or company requests one. This company is apparently not a good risk (in the bank's estimation), so they should not be provided any more credit. What the workers should get from the company etc etc all has nothing to do with the bank.

 

[her209]

Why is Bank of America getting a bailout when they just purchased Countrywide for $4B

 

[palehorse]

Originally posted by: Double Trouble
No, the money was not made available to banks for them to throw away as some sort of stimulus package. The money was provided to them so they would have the liquidity available to make loans when and if a qualified person or company requests one. This company is apparently not a good risk (in the bank's estimation), so they should not be provided any more credit. What the workers should get from the company etc etc all has nothing to do with the bank.

This.

 

[TallBill]

Originally posted by: dmcowen674

Originally posted by: MaxisOne
Call me an apologist for the Bank all you want

Well at least thanks for being honest.

Still doesn't let you off the hook.

Dave, you are an apologist.

 

[Jaskalas]

Originally posted by: her209
Why is Bank of America getting a bailout when they just purchased Countrywide for $4B

Because you did not stop Congress from doing it. What are you going to do? Nothing.

 

[brandonbull]

Originally posted by: Jaskalas

Originally posted by: her209
Why is Bank of America getting a bailout when they just purchased Countrywide for $4B

Because you did not stop Congress from doing it. What are you going to do? Nothing.

I thought most Americans didn't favor the bailout but the Congress did it anyways.

 

[Slew Foot]

What was it called the last time banks were forced to make loans to people who couldnt pay them back? The subprime crisis? You really want to tread down there again?

 

[IGBT]

..waco? (we ain't comming out).

 

[dmcowen674]

They didn't really win, but they do get the money that they are owed.

12-9-2008Workers win: Bank to give credit to Chicago plant

CHICAGO ? Bank of America says it will extend credit to a Chicago window and door maker whose workers have occupied the factory for five days.

The bank said Tuesday that it's willing to give the Republic Windows and Doors factory "a limited amount of additional loans." That's so it can resolve claims of employees who have staged a sit-in since Friday.

The factory closed Friday after Bank of America canceled its financing.

Workers were given three days' notice. But they refused to leave and vowed to stay there until receiving assurances they would receive severance and accrued vacation pay.

The bank has been criticized for cutting off the plant's credit after taking federal bailout money.

 

[her209]

Originally posted by: dmcowen674
They didn't really win, but they do get the money that they are owed.

12-9-2008Workers win: Bank to give credit to Chicago plant

CHICAGO ? Bank of America says it will extend credit to a Chicago window and door maker whose workers have occupied the factory for five days.

The bank said Tuesday that it's willing to give the Republic Windows and Doors factory "a limited amount of additional loans." That's so it can resolve claims of employees who have staged a sit-in since Friday.

The factory closed Friday after Bank of America canceled its financing.

Workers were given three days' notice. But they refused to leave and vowed to stay there until receiving assurances they would receive severance and accrued vacation pay.

The bank has been criticized for cutting off the plant's credit after taking federal bailout money.

Glad they did.

Wouldn't the creditors be the first in line to get money back when a company has to liquidate its assets?

 

[dmcowen674]

Originally posted by: her209

Originally posted by: dmcowen674
They didn't really win, but they do get the money that they are owed.

Glad they did.

Wouldn't the creditors be the first in line to get money back when a company has to liquidate its assets?

A lot of these companies are not filing bankruptcy.

What they are doing is folding up here and moving to places like Thailand.

How come no one pays any attention in here?

 

[KK]

Originally posted by: dmcowen674

Originally posted by: her209

Originally posted by: dmcowen674
They didn't really win, but they do get the money that they are owed.

Glad they did.

Wouldn't the creditors be the first in line to get money back when a company has to liquidate its assets?

A lot of these companies are not filing bankruptcy.

What they are doing is folding up here and moving to places like Thailand.

How come no one pays any attention in here?

Name one company that completely folded up and moved to thailand. I'll not be expecting an answer.

 

[KK]

Originally posted by: brandonbull

Originally posted by: Jaskalas

Originally posted by: her209
Why is Bank of America getting a bailout when they just purchased Countrywide for $4B

Because you did not stop Congress from doing it. What are you going to do? Nothing.

I thought most Americans didn't favor the bailout but the Congress did it anyways.

And yet 120 million retarded voters voted for someone who voted for the bailout. Good job sheep. bahh bahh...

 

[daishi5]

Originally posted by: K1052

Originally posted by: Genx87

Originally posted by: teiresias
The Illinois governor was just on CNN speaking at this factory. He said the state will no long do business with Bank of America. I'm unsure whether this is a formal, binding decree on state agencies or if it's just a request to agencies.

I see there are no shortages of dumbasses in IL.

Our governor has a proven track record of being a complete pandering idiot who has managed to secure the lowest job approval rating of any governor in the history of the state.

Hopefully one of the several federal corruption probes into his administration will produce fruit.

Who would have ever guessed when you posted this just how much of your wish you were going to get.

 

[nobodyknows]

Originally posted by: Slew Foot
What was it called the last time banks were forced to make loans to people who couldnt pay them back? The subprime crisis? You really want to tread down there again?

If employers don't have to pay their employees what's owed them under the law then it won't be long before you and everyone else wouldn't be able to make their house payments.

 

[palehorse]

Originally posted by: nobodyknows

Originally posted by: Slew Foot
What was it called the last time banks were forced to make loans to people who couldnt pay them back? The subprime crisis? You really want to tread down there again?

If employers don't have to pay their employees what's owed them under the law then it won't be long before you and everyone else wouldn't be able to make their house payments.

What does that have to do with their salaries wrongfully becoming the banks' responsibilities?!

Maybe I'm misunderstanding your point, but you need to realize that banks (BoA) are under no legal or moral obligation, whatsoever, to a) lend money to Company X, or b) pay the salaries and vacation of the laid off workers of Company X.

From the very beginning of this "sit-in," the workers' angst has been directed at the wrong party. BoA is not to blame for the failure of any company they have, or turn away, as customers.

 

[nobodyknows]

Originally posted by: palehorse

Originally posted by: nobodyknows

Originally posted by: Slew Foot
What was it called the last time banks were forced to make loans to people who couldnt pay them back? The subprime crisis? You really want to tread down there again?

If employers don't have to pay their employees what's owed them under the law then it won't be long before you and everyone else wouldn't be able to make their house payments.

What does that have to do with their salaries wrongfully becoming the banks' responsibilities?!

Maybe I'm misunderstanding your point, but you need to realize that banks (BoA) are under no legal or moral obligation, whatsoever, to a) lend money to Company X, or b) pay the salaries and vacation of the laid off workers of Company X.

From the very beginning of this "sit-in," the workers' angst has been directed at the wrong party. BoA is not to blame for the failure of any company they have, or turn away, as customers.

You have a point. The workers should go after the family that owns the business, they're the ones who screwed the workers over. How far do you think they would get?

Since the owners are the ones who broke the law how about the BoA make sure the workers get paid what the law prescribes and then they can go after the owners and their property.... with the help of the US Goverment.... or aren't you concerned with the plight of these 200 American familes?

http://www.chicagotribune.com/...0dec10,0,2597497.story

 

[dmcowen674]

Originally posted by: KK

Originally posted by: dmcowen674

Originally posted by: her209

Originally posted by: dmcowen674
They didn't really win, but they do get the money that they are owed.

Glad they did.

Wouldn't the creditors be the first in line to get money back when a company has to liquidate its assets?

A lot of these companies are not filing bankruptcy.

What they are doing is folding up here and moving to places like Thailand.

How come no one pays any attention in here?

Name one company that completely folded up and moved to thailand. I'll not be expecting an answer.

DOW Chemical

 

[dmcowen674]

Originally posted by: nobodyknows

Originally posted by: palehorse

Originally posted by: nobodyknows

Originally posted by: Slew Foot
What was it called the last time banks were forced to make loans to people who couldnt pay them back? The subprime crisis? You really want to tread down there again?

If employers don't have to pay their employees what's owed them under the law then it won't be long before you and everyone else wouldn't be able to make their house payments.

What does that have to do with their salaries wrongfully becoming the banks' responsibilities?!

Maybe I'm misunderstanding your point, but you need to realize that banks (BoA) are under no legal or moral obligation, whatsoever, to a) lend money to Company X, or b) pay the salaries and vacation of the laid off workers of Company X.

From the very beginning of this "sit-in," the workers' angst has been directed at the wrong party. BoA is not to blame for the failure of any company they have, or turn away, as customers.

You have a point. The workers should go after the family that owns the business, they're the ones who screwed the workers over. How far do you think they would get?

Since the owners are the ones who broke the law how about the BoA make sure the workers get paid what the law prescribes and then they can go after the owners and their property.... with the help of the US Goverment.... or aren't you concerned with the plight of these 200 American familes?

http://www.chicagotribune.com/...0dec10,0,2597497.story

They will as well as the "investment institutions" you guys hold so dear.