Powered by Max Banner Ads
Bank Of America Caves To Factory Workers
I can’t believe Bank Of America caved to public pressure over the laid off workers who staged a sit-in in Illinois.
The Republic Windows & Doors factory suddenly closed last week and the workers were laid off without their severance or health insurance.
Believing Republic was in violation of their contracts and state employment law, the workers staged a sit-in at the factory and refused to leave the premises until they got their money.
The reason Republic had to close was because Bank Of America refused to give them a loan. The reason they refused is because Republic is broke and can’t pay it back — which is how this whole financial mess started to begin with. Giving people loans who cannot pay them back is absurd.
Yesterday, Gov. Blagojevich visited the plant and the outraged workers. Afterwords, he called on Bank of America to “do the right thing” and give Republic some money. He then went further and called for all state agencies to refuse to do business with B of A until they extend credit to the failing business.
Incredibly, B of A announced today that it’s caving to the workers and will extend credit to a business that can’t pay it back. Which means it’s not actually credit but instead a gift.
What really brings this whole episode into razor sharp clarity is this morning’s arrest of Gov. Blagojevich on corruption and bribery charges. We now know the reason he gave such full-throated and absurd support to the workers — he was hoping to get a cushy job with a labor union in return for Obama’s vacated senate seat.
He was trying to show he was a union man by calling for a boycott of B of A, but in reality the governor is just a corrupt scumbag who’s looking at serious prison time.
Obviously, I feel bad for the workers. Nobody wants to lose their job — I certainly don’t. However, when a business fails — it fails. When did it become a rule that regardless of how your business performs — you have a right to keep that business operating? Even if your business can’t make money, the government will keep you in business just for the sake of keeping you in business?
I don’t know what that’s about, but what I do know is that Bank of America set a dangerous presidence by caving to Republic Windows & Doors.
Related Posts
Comments
5 Responses to “Bank Of America Caves To Factory Workers”
Leave a Reply
I hope that the workers having their victory will effect the government’s plan to help the economy. Lately the government has focused on the big companies and banks as ones that should be getting the money that individuals work so hard for. While times are difficult for many companies, the struggle of individuals who now are struggling from paycheck to paycheck is much greater. The failed government bailout proved that the government is still influenced by business executives looking to maintain their lavish lifestyles. This reality has been a shock for the countless Americans looking to the government to aid them. If it weren’t for the media, the stories of people across the nation that are losing homes or their jobs would have gone unheard. While Bank of America decided to help these workers, the workers decision to protest helped them become victorious. During this recession, it is important for individuals to voice their hardships as in order to snap the government from the influence of their lobbyists and actually help the individual. If these outcries are persistent, change can happen and maybe finally some real economic aid will come to those who need it most. When the individuals get help, the big companies will recover also as consumers will be able to spend money again therefore slowly restoring the economy.
You make some interesting points, thanks for commenting.
New blog post: Bank Of America Caves To Factory Workers http://tinyurl.com/5jgfj5
Unfortunate for the workers the Governor’s others activities have made the comments he made yesterday seem not important coming from him.
Jaime Sandoval
http://www.sanantoniotxrealestateforsale.com/
I couldn’t agree more Jaime