Monday, December 08, 2008
Workers at Republic Windows and Doors were given three days notice that their factory was closing. By law, they're supposed to get 60. And that wasn't all. They were told, sorry, but you don't get your severance or vacation pay either. Too bad, but we just don't have the money we've promised you.
The workers have now occupied the factory, and they don't plan to leave until they get what they're contractually entitled to. Why is the company in such dire straits that they need to give employees such awful news? Well, apparently, Bank of America, its creditor, will not allow them to pay their debts. It doesn't care for the monthly sales reports.
The kicker here, though, is that Bank of America just got 25 billion from we, the people, in order to bolster its ability to extend credit. And this is what we, the people, are getting in return.
The State of Illinois has suspended all business with Bank of America until they make things right. If you want to know what you can do, PREA Prez Fred Klonsky can fill you in.