1 BofA should tell Blagojevich to pound sand.

2 Goodbye Illinois, it was nice to know you.

3 Actually, B of A should be happy that they do not have to get involved with the sorry lot that is the current Democrat party.

4 And BofA should immediately cancel the credit cards of every single state worker in Illinois.  Hey, turn about is fair play.

5 That's our boy Roddy - never miss a chance to do some high-profile pandering. 

6 Same concept as CRA's. Make business a social improvement agency and watch said business fail. BofA was on my hate list because of their courting illegal aliens as customers. Now I get to hate both sides in this conflict. A pox on both your houses.

7 Wow, this should get Rod Blowdryovitch's approval ratings out of the negative numbers!

8 Haven't learned a damn thing!  This is the kind of BS that got us the predatory borrowing debacle.  Keep it up ya fucking idiots!  Maybe someone will be paying attention this time.

9 I wouldn't do business with BoA but they should just closed their branches in Illinios and move away.  Illinois is a corrupt toilet, let them rot in their own misery if they want to black ball busnisses when they don't get their way. It's not BoA's fault. Chicago thugery in the national spotlight.

10

Oh yeah!  Yet another bone headed political stunt from our beloved governor.

Closing state parks, etc. in order to be "fiscally responsible" -- while we pay for his damn chopper to fly him to Springfield, because he doesn't want to live at the Governor's Mansion (oh noes, can't have Blagy and his fair wife stuck in such a backward place).  Giving the horse industry in the state a mortal blow, so he can schmooze with Bo (it was a suprisingly big industry here).  Cutting most of the state funding for public works outside of Cook Co. (again, fiscal responsiblity).  The Kid/Family Care goatfuck... General crookedness and ineptitude....

All's well and good, move along, nothing to see here in the People's Comissariat of Illinois.

 

11

Illinois doesn't pay it's bills anyway. BoA would be better off finding a reliable customer.

12 Here is what bothers me about this.  According to what I read yesterday, about 50 employees were involved.  They are complaining that they didn't get the required 60-day notice.  But my reading of the WARN act says the company wasn't required to give notice if they have fewer than 100 employees:

"In general, employers are covered by WARN if they have 100 or more employees, not counting employees who have worked less than 6 months in the last 12 months and not counting employees who work an average of less than 20 hours a week."

If they had more than 100 employees, they could have avoided WARN requirements by laying off 49 employees rather than 50:

"Plant Closing: A covered employer must give notice if an employment site (or one or more facilities or operating units within an employment site) will be shut down, and the shutdown will result in an employment loss (as defined later) for 50 or more employees during any 30-day period. "

But more importantly, what I fail to understand is why these people feel they are "entitled" to a job in the first place.  If the employer's customers have stopped ordering product, then there is no cash flow with which to pay them.  If the company can not pay them, it has no choice but to either ask them to work for free, or allow them to find alternative employment options or collect unemployment benefits.  If the bank won't lend the company the cash, the company has no choice.  If the company has no orders for product, the bank has no choice but to refuse the loan request.

13 I blame the voters who put this turkey in office.

Never forget that behind every asshat moonbat showboating politician, there are thousands or millions of voters who pulled a lever to put them in office.

In a democracy, the people get the government they deserve.

It sounds to me like Chicago is devolving into a no-go-zone just like Detroit did. 

14

Sooooo glad I dont live in that state anymore. The Governor of Chicago is such a tool. He costs the state hundreds of thousands a year by refusing to live in the Gov's Mansion in the captiol, does nothing to help the state outside of Cook County and on a personal note, that hair makes him look like a used-car salesman. You couldn't pay me enough to move back there. Blech!

15 I think now would be a good time for everyone in the country to read (or re-read) Atlas Shrugged.

Rand was so dead-on right it's scary.

16 BoA needs to sack up.  Leave it to the state to pay for it if it is so important.  We'll see if they really want to raise taxes/ruin their credit rating to save failed businesses. 

Now that I think about it, it's probably a bad idea to encourage Bleg and Co. to do this, because they probably would.

17

Here's the other thing, if Republic Windows is a risk loan that may likely lead to a failure of repayment, then Bank of America is doing the right thing.

Extending too much credit is exactly what got us into this mess in the first place.

18 Give it up people. It is done.

19

It would be hilarious if BAC, JPM and whoever else is still left standing today told Illinois "Fuck You!" and ceased extending them credit, underwriting their bond offerings, etc.

This is the crux of the fucking problem: Banks should extend credit to the creditworthy and not put their businesses at risk by bending over for jerkoff politicians like Rod Blow-gojevich who ask them to take on inordinate risks to run the Democrats' social programs in stealth mode.

20 As stupid as the governor is, this highlights the problem with federal bailouts. When private organizations take public money, the public is going to want a say in how they spend that money.

Now I get the mind numbing stupidity of it all but it is a logical step along the path we are going down.

21

This people don't know a thing about business, which gives you some insight into why so many unionized businesses are in such disrepair. Big unions care only about big unions, not about financially sound business practices. They don't care about the workers at the bank that could lose their jobs if the loans bust - those folks aren't unionized.

 

22 In a related note, yahoo's main page is currently displaying another halo picture of Barack "Main Street" Obama.

23

I agree that Bof A should not be forced to loan to a bad credit risk (Is Republic a bad risk or a potential because of the economy bad risk?) but who is getting the loans from B of A from the infusion of cash and bailout money to the banking industry that my tax money gave them? 

24 Blowjobevich should be warming a jail cell. Fuck him sideways with a rusty goalpost.

25 Maybe Obama could loan them some of the $30,000,000 he had left over from the campaign?

26
The Chinese must be raughing their asses off.

27
bunny boy at December 08, 2008 12:05 PM


They must read the blogs because people were commenting this week and last that all the current Obama photos were grim faced and without a halo!

28 I think now would be a good time for everyone in the country to read (or re-read) Atlas Shrugged.

Rand was so dead-on right it's scary.

Yeah, this is exactly the circumstance that caused Midas Mulligan to close his bank and light out for Galt's Gulch.

29
Blago getting ready for his promotion to the License Plate Factory after finishing up as Gubner. Durbin's trying to get ex-Gub Ryan pardoned, apparently to free up cell space.

Cockholsters are Us instead of Land of Lincoln

30 So what do these workers want?  If there's no cash to pay wages with, I can't see how they could comply with WARN.  It's illegal to have your employees work and then hand them a bad check as payment.

The best they are likely to get is a Chapter 7 liquidation, asset sale, and maybe they'll get a couple bucks after the IRS and the banks get theirs.

This is almost as dumb as going on strike to keep your job from moving.

31 Here's where the workers lose my sympathy:

"One of the factory’s workers, Silvia Mazon, said in Spanish that she needs the money owed to her for an $1,800 monthly house payment".

OK, I lied, actually, occupying the factory was a silly stunt I had no sympathy for in the first place. The Spanish speaking worker with the ginormous house payment was just sauce on the burrito.

32 Just the tip of the icerberg.  Wait until 2009 when more and more companies will be laying off employees.  The saps that voted in the One will be damanding that the Feds do something.  Either take over the company or provide for all the basic needs of the unemployed.  The lid is off the bottle and the genie is out.  We haven't seen anything yet.  Wait until a million people collectively scream...."BAIL ME OUT"!!!! 

33 "So what do these workers want?"

They have a belief that if they show to work everyday until they are 65, that they will always be provided for. Real capitalism scares them. To be fair I guess most Americans believe that, because the media and Democrats imply that very thing all the time.

34 This little gem from CNBC about borrowers re-defaulting on modified mortgages seems timely.

35 You don't need customers to stay in business anymore all you need is a bank? Blagojevich should call on all state workers to replace their doors and windows.

36 Morons,

here is a success story for you. Ayn would love this guy.

http://jonesbigasstruckrentalandstorage.com/

37 Andy,

that should be the flaming skull. You mean the people that showed bad judgement and poor budget skills were given a second chance. 50% of these same people still defaulted when given a better rate and term? Still must be the banks fault.

38

V the K - This is the sauce on my burrito - President-elect Barack Obama, commenting on the Republic protest Sunday, said it's important to rebuild the nation's financial system but also to ensure "the plans and programs we design aren't just targeted at maintaining the solvency of banks but are designed to also get money out the door to help people on Main Street."

This man no more understands what it takes to successfully run a business than Barney Fwank does. I agree with Lee @ 13 - we have no one to blame but the millions of voters who put these turkeys in office.

39 you won't see Jesse, Radovan or Luis Gutierrez signing off on any personal loan guarantees to free the money and provide the win/win of protecting the bank and helping the workers.  If we had enterprising newspapers in Chicago, I would like to see a story of how many people working for Republic were illegals.  Won't happen, of course.

40

  Bank of America needs to go "scorched earth" in this case to keep this sort of asshattery from ever happening again.

  They should interpret this action by the governor as banning them from doing business in the State of Illinois.  First, they should immediately call in any debts outstanding to their corporation or any affiliated corporations from any State, County or City government in the State of Illinois.  Second, they need to call in all debt held by State, County & City employees, citing the governor's actions as their reason for not wanting to do business in the State of Illinois anymore.  Finally, if they don't get the State to back the fuck off after the first two actions, they need to call in ALL debt (home mortgages, car loans, boat loans & credit card accounts) held by residents of the State of Illinois.  In all these cases, the Bank of America needs to tell these people & government agencies that they need to find alternate financing to help pay off their BoA accounts because the corporation is withdrawing from the State of Illinois due to the actions of Governor Dickmunch.

  I'm rarely sympathetic to credit card companies, but when a politician threatens a credit card company to throw money down a rathole or face the consequences, they need to send him the strongest message possible that this Huey Long-style shit will NOT fly.

41 I use to go to the BofA in North Beach. Small bank in a very old building. The clientele was mostly the ladies who worked the clubs in the area. Everybody wore see through blouses, no bras, and shorts/skirts that barely covered their snatch. And by see through, I mean flimsy little gauze or netting type things. It was a very strange bank.

42 Kat-mo!

Sperm bank?

43

BOA is a bunch of assholes. I own BOA stock, and I bank there. They aren't giving loans to anyone unless the borrower doesn't really need the money. Believe me, the banks (most of them) are in way worse shape than we know, and have no transparency to speak of. Look at the LIBOR rates, they are lower than they were, but still historically high. No trust between banks because they know what shape other banks are in.

As for the re-default rate, when someone who makes 40,000 a year is given a loan for a 500,000 dollar home, they are going to default, re-default, re-re-default until the government forces the bank to just give them the house, free and clear.

Let's hear it for socialism!

44 I'll be making a withdrawal....in my bunk

45 I saw the headline, and assumed it must be a boycot for giving credit to illegals, facilitating terror fund transfers, aiding illegal campaign contributions, something like that.

46 If Bank of America was smart they would play this to the hilt, it's the best advertising they could hope for as a bank. You want to be known as the bank that doesn't make bad loans, especially now. They should call in all the outstanding loans Illinois has if they push this to. Go ahead and try to raise money to pay it Blowjobavitch.

47

  As far as I'm concerned, Bank of America should get together with ALL the major banks and see if they'll mirror BoA's actions towards Illinois that I outlined in post #40.  After all, BoA got called out because they were the people who turned down the loan:  it could have just as easily been CITI or MBNA who found themselves in the State's crosshairs.

  Let's see how the residents of Illinois do with EVERY source of credit refusing to do business in that Godforsaken shithole.  They elected Blagowhassisname to be their governor, now let them suffer the consequences.

48

Governer blowmejagoffbitch.

 

49
I blame the voters who put this turkey in office.

What's wrong with YOU?!  Didn't you see his hair?  Did you not see that fucking gorgeous coiffure?  How does a guy with a fabulous mane like that not get elected?  I wouldn't be surprised if he never even ran for office,  and yet,  was elected!  You gotta check your priorities,  my man!

Now who wants some of daddy's man sauce?

50 The rate of re-default jumped to about 53 percent after six months and 58 percent after eight months, Dugan said, without providing an explanation for the trend.

No explanation!?! They don't have the money asshole! They never did. It's too much damn house anyway.
This country is fucked. It's the only place in the world where we build houses with four bedrooms on the only available lots in town to sell to people who have 2 kids at most. All so they can maximize the profit on it and the property taxes too.
Would people be in this situation if they built some ranches and cape cods once in awhile instead of McMansions?

51 The workers promise to continue the sit-in until BofA pays their wages, severance, and health insurance............................Excuse me?  This bank is showing fiscal responsability and not bailing out a failing business. Go work for Pella or Marvin, BofA doesn't owe you shit!!!!! I bet the owners of the company have money why don't you picket their houses.

52 Sperm bank? Posted by: locus ceruleus

I have no doubt that the panties of the few who bothered to wear them had higher sperm counts than most men.

53

This is an insane boycott by the state of illinios. There are legitimate reasons for boycotts, but this is not one of them.

I am boycotting Bank of America for an entirely different reason. I'm boycotting them because they took federal bailout money. I've banked with them for years and am now changing my account to a smaller local type bank that is stable and didn't participate in the bailout. I'm also boycotting the Big 3 if they get a bailout.

 

54

No explanation!?! They don't have the money asshole! They never did. It's too much damn house anyway.

Okay, I laughed out loud at that response because that was my immediate thought when I read that little gem. These folks are so damn stupid it makes my head hurt. At this point, it's either laugh or cry because like Rocks said, we're fucked. Unfortunately, we let the dumb asses in this country fuck us over completely.

55 DrewM @ 20 is exactly right.  BofA is not blameless here.  They accepted the bailout money.  They understood that there were "strings attached" even unofficial strings.  BofA should give back the bailout money AND move out of Illinois.  A double F-you to Roddy-boy.

56 51 The workers promise to continue the sit-in until BofA pays their wages, severance, and health insurance............................Excuse me?  This bank is showing fiscal responsability and not bailing out a failing business. Go work for Pella or Marvin, BofA doesn't owe you shit!!!!! I bet the owners of the company have money why don't you picket their houses.

Posted by: steve at December 08, 2008 12:54 PM (WZeO3)

Sadly, too many think this way. I am listening to FNC and they read letters from viewers. One intellectual (Linda from Wisconsis) wrote in that BOA should be required to pay the workers because that's what the bailout was for!

Holy hell! These people keep breeding and indoctrinating their young to be this dumb. I don't know how we dig out of this with all of these assholes having the right to vote and the Messiah "inspiring" them place their votes/

57 you commenters are just such mean republicans, but thats redundant, isn't it, you meanies

58 As others have stated, this is the same BofA that not only gives loans to illegals but actively courts them. Maybe if the defunct company offered to hire more illegals they'd get the loan?

59 Here is what bothers me about this.  According to what I read yesterday, about 50 employees were involved.  They are complaining that they didn't get the required 60-day notice.

That, and there is another point in the WARN law; you do not have to provide notice if a) you are in the process of trying to secure additional financing to keep the place open and b) providing notice would make it difficult for you to get said financing.

That sounds like exactly what happened in this case; the window company was actively seeking what it needed to stay open and was afraid that notifying employees would lock up the credit available to them (as, in this case, it likely would).

Meanwhile, why Bank of America? Is this the only bank that these owners went to find? No, but attacking a LOCAL bank would likely not score the political points that Blago Boy needs.

And I agree. BoA should immediately call any loans it has outstanding that have anything to do with the state government of Illinois.

60 And every other bank should refuse to loan money to that suck-ass state and its communist unions.

61 Rod Blagojevich was rumored to be a future candidate for President.  Yesterday I thought that was near impossible.  Today, he's back in the running.

We'll have to fail Econ 101 about a few million times in the United States over the next few years until people start to learn how markets are real things with real consequences.

For our sake, I'm heavily vested in wagers betting on an incredible surplus of irony.  Guns are a nice hedge.  Don't forget ammo.

62

@36: So would Stringer Bell.

 

"Street Pharmaceuticals Sales Rep."  Gotta love that job title.

63 Meanwhile, why Bank of America? Is this the only bank that these owners went to find? No, but attacking a LOCAL bank would likely not score the political points that Blago Boy needs.

Bank of America is a local bank for Chicago and Illinois.  They ended up owning the former LaSalle Bank after ABN-AMRO couldn't close a permanent deal.

So yeah.  Bank of Italy Nations Bank America is now local everywhere.

Excuse me while I go kick Shylock.

64 BoA should publicly announce it will approve the loan If the governor cosigns using his personal assets as collateral.

65 As others have stated, this is the same BofA that not only gives loans to illegals but actively courts them.

Dude.  They're a bank.  They court anyone with capital to deposit.  Worry when they're floating bonds for Alf to seize control of  Melmac.

66 BoA should publicly announce it will approve the loan If the governor cosigns using his personal assets as collateral.

Heh.  Blago hardly has any political capital to use as collateral.  Maybe Bank of America wants the open US Senate seat.  How much is that worth?   Float some bonds.

67 North Dallas--

In Illinois, B of A is the old Continental Bank. It is a local bank, really.

Gabriel S.--

Today, he's back in the running.

You cannot be serious. The governor is about two weeks away from a federal indictment. He is the dumbest and most hated politician in Illinois. His statewide approval rating is below 20 percent. We nearly amended the state constitution to add a recall provision, almost solely because of Blago.

Everyone else--

B of A has an asset-based division. If the inventories, receivables and plant are so crappy that Republic can't even do an asset-based deal, then they're in really bad shape. If they want a loan, they should file Chapter 11 and they will be sure to get D.I.P. financing--that is, if there's anything there of value. Which there probably isn't...

68 BofA should follow the law. The Governor wants his spotlight so he can prance like silky pony, let him. But if BofA decides to try one-up-manship, they only victims are going to be it's customers and eventually, BofA. BofA cannot simply call in a loan unless there has been a default. This is what prevents your mortgage lender from deciding one day to demand you repay your mortgage next week, unless there has been a default.

Should be interesting to see how the Illinios version department of banking handles this. I think this is nothing more than another full of shit politician trying to stay in the light. He wants to help the workers, give them state jobs or hire them to work for him.

69 Short memories.

This is exactly the kind of insane behavior that destroyed our economy in the first place.

Who exactly is this company supposed to make windows and doors for? Last time I checked they were used mainly for home construction...which I can tell you first hand just isn't happening too much these days.

My wife works for evil greedy land developers and they're just barely getting by these days.

Maybe they should stock up on windows and doors for the future.

70 "A diversion! My kingdom for a diversion!"

71 Can anyone imagine Governor Palin or Jindal or basically any GOP governor saying anything this retarded? All we have do is continue to be the grownups and hopefully the American people will wake the fuck up.

72 This concept of welfare just does not work. It is not an ethical option for the thinking person. Check out this link and you will see another unintended consequence of freebies.

http://tinylink.com/?xTgJmeuhi9

I person needs to earn their own bread. Preaching to the choir here. Hey, would Ace be a tenor?

73

This is a grandstanding stunt by the commie Governor. He will not actually do anything. The heads of BOA will do like all big company bosses and keep their mouths shut and tell all their employees to keep their mouths shut. All of the shit with that factory full of illegals will blow over in a few weeks unless the public allows the media to make it into a circus.

74 Let George Soros, Nancy Pelosi, John Kerry, or any of the other asshole rich Democrats who whine about "the poor" buy the place.

Heck, let the Obamamessiah buy it. He's looking for ways to spend his $30 million; let him pour money down this particular rathole.

75 Illinois, isn't that Dictator Elects' home state? Ah yes, and we all can see what a toilet it is across the board. Early glimpse what he will do on a grand scale now that he is the idiot in charge

76

I guess all the sucking up and dick sucking that BA does to Democrats isn't working out so well.  The former CEO's brother in law is Rep Spratt, dem SC, head of banking committee! DA huh.  These people are unrepentant Dem.

Let the fuckers eat cake. The cake, the money they pissed away buying LaSalle Bank in Chicago.  That is where these stupid fucking loan came from.  BA inherited it.

It's the Chicago way!  Shake down, er, Hope and Change, same shit.

Kemp

 

77

15 I think now would be a good time for everyone in the country to read (or re-read) Atlas Shrugged.

Rand was so dead-on right it's scary

---

Pertaining to this? Which Article?

78

Does anyone think this threat is an illegal restraint of trade move by the state?  If so, why not file a suit against the asshole for that?

Kemp

79 You cannot be serious. The governor is about two weeks away from a federal indictment. He is the dumbest and most hated politician in Illinois. His statewide approval rating is below 20 percent. We nearly amended the state constitution to add a recall provision, almost solely because of Blago

I am dead serious.  He's got the "get out of shit free" card.  He's a Democrat.

Furthermore, he can threaten BofA all day, while all night he negotiates handing the business to Broadway Bank just in time for their ownership family to push their bronze son into the Governor's Mansion with Obama's support.

80

BofA should follow the law. The Governor wants his spotlight so he can prance like silky pony, let him. But if BofA decides to try one-up-manship, they only victims are going to be it's customers and eventually, BofA. BofA cannot simply call in a loan unless there has been a default. This is what prevents your mortgage lender from deciding one day to demand you repay your mortgage next week, unless there has been a default.

Penfold at December 08, 2008

 

  I would think that the State of Illnois deciding to insert themselves into a private loan process would be enough of a change in the terms of the loan to allow BoA to call all loans involving Illinois businesses and residents.  At the very least, it will give them cover to send out all the letters making this threat to all their Illinois debtors.  BoA can justify these actions by stating that they are afraid that the precedent has been set by the State of Illinois that the financial decisions of the loan officers can be subordinated to political concerns, and they could rightly claim that in this new atmosphere of Government requirements to throw good money after bad, they can no longer do business in the State of Illinois.  It doesn't have to be upheld by the court, it just needs to be out there to see if any residents of Illinois have enough balls to demand their Governor's head on a spike for making this demand of a private company.

  This is what the bailout money was for?  Garbage loans to companies that cannot repay them?  Isn't that how we got into this problem in the first place?

  I hate it that I'm supporting a bank in this instance, especially one that does as much stupid shit as BoA, but they're 100% in the right in this instance.  If Governor Whatthefuckishisname gets away with this asshattery, it'll be open season on ALL lenders nationwide.  He needs to be smacked down hard, and he needs to be smacked down now.

  If some Illinois businesses or residents get hurt in the process, tough shit.  You assholes voted for him, now you can deal with the consequences.

81 Actually, I used to have a credit card with B of A but closed my account when I found out they gave loans to illegals. But this is out and out Stalinist goon-thuggery. Forcing banks to make bad loans??????!!!!!!! If I had accounts at B of A, I would be screaming bloody murder (hint, hint) at Balgojevich!

82 Gabriel

I think you are right. Maxine Waters threatened to socialize the Oil companies with no negative effect in her Democrat standing. Standing up for the little guy against big corporations is the Democratic core message.

83 My Dad refers to Governor Hairdo as "Daley's bitch, Blagojevich"  (trust me, it rhymes in Bohunk).  His state Senator referred to him as a complete jackass.  Every member of my family back in Illinois is desperate to leave that state (not just because of the idiot pols, though they don't help matters). 

Now that the Libune's gone belly up, who's left to report on the Daley/Blago/Stroger shenanigans--oh, I forgot, the Trib shut down its Chicago news bureau in place of full-time shilling for the One. 

84 Rod is such a tool.  A hammer, every solution a nail.

85

Update:

 

Fox has taken the “side” of the laid off workers saying they “deserve” the notice et al. There is also more in the story:

 

The gov “ordered” all State agencies to cease business with BOA. It wasn’t just an announcement to the press. In addition, commie Durbin has showed up and reminded BOA of bailout.

 

Also, the Rev Jesse was there yesterday, although it appears that only Hispanics are involved so his action will be little.

 

Fox interviewed “Raul” a worker of 8 years who could barely speak English. He says they are owed the 60 days notice and vacation pay. Fox implied that this wasn’t a law, but a contract they had with the union.

 

And finally, BOA has said that they aren’t the ones who loaned money to this company, that they were only the guarantor of the original loan and therefore there was nothing ever in the works for credit from BOA to this company.

86 It's a natural consequence of bailing out the banks. Just like taking money from your parents--it puts you their thumb.

The people bailed out banks, now they fell like they get to tell the banks what to do. And that's why I was against these crappy bailout before it was cool.

87 Looks like a whole bunch of Illinois and Chicago Democrats are coming out of their offices mansions ivory towers Political Offices of Thrift Business Approval to stump for Republic.

http://tinyurl.com/65dlmk

The City of Chicago has a 400 million dollar deficit to address.  Now is the perfect time to pounce on Bank of America.  I wonder if that ball handling President wants to get a few punches in.

88 How are you supposed to "cease" business with the second-largest bank in the state? I'm sure the state has thousands of accounts there, cash management, asset management, etc. It would take probably years to unwind those relationships. On top of that, the state is so far behind on its bills, it really needs all the lending relationships it can muster. The government is held together with string and sealing wax right now.

89 Vic: Rep. Luis Amnesty isn't Amnesty Guitierrez tried to meet with BofA and Republic to mediate the situation.  The Republic ownership never showed up.  They've bailed.  The owners have been looking for a buyer and have been unable to find one.

Next owner: State of Illinois?  God help us if that happens.

90

Solution Simple:

Change Republic Windows & Doors to, wait for it....

Republic Guns & Ammo, Inc.

Bingo, prosperity.

91 Arrest all their asses. Let them starve if they are not looking for work by now.
I can't take this crap anymore!

92

I watched them all standing there complaining about their lot, marching and chanting in unison and thought why aren't those assholes out looking for work?!

93 Another simple solution: Why not send a portion of our bailout money directly to Mexico, but make it available only to people who actually live in Mexico? Illegal alien problem = solved!

94 dihimiKKKrat^®.  'Nuff said

95 ---------I think now would be a good time for everyone in the country to read (or re-read) Atlas Shrugged.

---------Rand was so dead-on right it's scary.

---Yeah, this is exactly the circumstance that caused Midas Mulligan to close his bank and light out for Galt's Gulch.

I'm in the midst of rereading Atlas Shrugged now.  It is spooky the way she foresaw where we were going.  When I first read this thirty-odd years ago, I thought that such things could never happen in the US.  Guess I was wrong.

Rand wasn't prefect, though.  Although she does comment on junk science being used as a weapon against capitalism, she failed to foresee the rise of environmentalism, perhaps the biggest threat to capitalism ever.  Nor did she foresee the use of multiculturalism/diversity/political correctness as an anti-capitalism weapon.

Spot on about Midas Mulligan, though. 

96 hmmm... looks like The Bag is trying to make himself popular amongst the ACORNers in light if the Feds crackdown

97  

98 George Ryan tried to make himself a saint by emptying out death row before he got thrown in jail, this just seems to be a pattern in Illinois politics - when the FBI starts sniffing around, start trying to make yourself look good, consequences be damned.

99

This is almost as dumb as going on strike to keep your job from moving.

We had this happen here a few years back.  A union got into a dispute with the company over some pay issues.  The company told them that they wanted to make things right, but cashflow was tight.  The rocket scientists that run the union immediately did the only thing they could:  they filed a lawsuit demanding the money.

When they won the lawsuit, the company tried to negotiate with them.  The union was informed that, if they persisted in their demands, the company would be forced into bankruptcy.  The union leaders thought about it and immediately demanded the money.

The company filed bankruptcy, closed down, and moved to Mexico.  The union workers got about 10% of what they were owed.

100 Blago is certainly reality-challenged at best, and quite possibly certifiable if we could, as Foghorn Leghorn would say, "candle that boy's  head."

What is truly weird is that he was re-elected.  That election showed the depths to which the Illinois Republican Party has sunk.  They are, so far as I can tell, totally uninterested in getting any new blood into their races.  And it shows.

101 Obama: Workers staging sit-in 'absolutely right'

Here we go.


http://apnews.myway.com/article/20081208/D94UFKP81.html

102 Let 'em sit. It will get real cold the power is shut off in about a week.

103 they call it 'leverage'. I call it extortion, the Alinsky technique they applied to housing to get loans that werent feasible, now they are going to try to agitate their way to labor concessions from the bank who held the credit line for the business?? Will Gov Rod be happy when the jobs all come to my right to work state instead of Illinois? Or perhaps to China?

what a frakin idiot

THIS is what I am most scared of about PEBO, this labor racketeering intimidation chicago crxp, this will kill the goose that laid the Golden Egg, American enterprise.

I am waiting for the appt of Labor Secretary and terrified it will be some ACORN person like the head of that SEIU.. ugh

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104

And how many doo-doo butt people in Illinois now thinks this means they don't have to pay their mortgage AT ALL, if it's with Bank of America? 

'Cause the Gov. said stop doing business, so that means I don't have to pay, right? 

105

Not that I'm defending the state against BOFA, I'm not, but what I read was that it was more like 200 people not 50. And, it's not like BOFA and the manufacturer decided within two or three days that the place would be closed down. And, according to a Fox report this morning, the owner of this same company has already opened another company in Indiana under a different name.

So...things suck for the workers all the way around.

Empathy isn't entirely uncalled for here.

106 Isn't this the same Bank of America that cheerfully granted illegal aliens undocumented workers credit cards?

107 "Fox interviewed “Raul” a worker of 8 years who could barely speak English. He says they are owed the 60 days notice and vacation pay. Fox implied that this wasn’t a law, but a contract they had with the union."

Problem solved!  Let the union pay their back-pay!

I thought thats what unions were for in the first place!

108

It's blackmail, pure and simply. And if BoA gives in to this crap rather than let a failing business fail, they better expect EVRYONE to do it to them and cave right now, just like the bail outs.

Fuck them, no one wants to take responsibility for their own actions and bad decisions. These workers think they are entitled by the banks, not the company.

109 I'm laughing my ass off and rolling on the floor.  Blag, you dumb bastard; Illinois NEEDS BofA, BofA DOES NOT need Illinois.  Stupid shit!

110

Although she does comment on junk science being used as a weapon against capitalism, she failed to foresee the rise of environmentalism

 

Since all of the environmentalism movement is a religion based on junk science I would say she hit it pretty good.

111

Look, I'm sorry for the workers, but they are behaving badly.  By Bro-in-law's company went under, and not only did he not get severence, but he was not paid for the last two weeks he worked.  That's life.  The sucky part, yes, but this is what happens sometimes.

And remember, this company  makes doors and windows - for buildings.  Not much new building going on right now.  We will see more construction-related industries go under.  Do people think the government and banks can keep everyone's paycheck coming regardless of the economy or the health of individual companies?  

Where do we get the idea that no one must ever have hard times?  Do you ever read history books?  Bad thinks happen.  Strong people pick up and move on. 

112 I want to hear a couple of stories about the recently unemployed who ran and got a new job lickety-split (even if it was for less pay), effectively assing-out the losers who decided to squat in the shuttered factory laid-off workers of the closed factory.  I mean, how 'bout a little sunshine breaking through the storm clouds, eh?

Even if the Reverend Jackson et al manage to extort money from the man to pay these schlubs, the freshly re-employed would still have what's coming to them, plus been able to put food on the table in the meantime. Just sayin.

113 I dunno...Asshole, capital A, Dickhead, capital D...
Which is he? I can't decide. Meh, both.

114 Don't know if it was mentioned or not, but BoA is a private biz.  They are allowed to say NO.  Just like Republic Windows is allowed to say NO to their customers.

K

115 Pay attention now!

Read the actual story ///////////////

BofA and republic windows are screwing these people. this is 200 people who got layed off with three days noticed. They are not getting severance pay, vacation pay that is owed them or anything. This is against the law.

Dec 5, 2008 2:08 pm US/Central
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.

In the second day of a sit-in on the factory floor that began Friday, about 200 union workers occupied the building in shifts while union leaders outside criticized a Wall Street bailout they say is leaving laborers behind.

About 50 workers sat on pallets and chairs inside the Republic Windows and Doors plant. Leah Fried, an organizer with the United Electrical Workers, said the Chicago-based vinyl window manufacturer failed to give 60 days' notice required by law before shutting down.

During the takeover, workers have been shoveling snow and cleaning the building, Fried said.

"We're doing something we haven't since the 1930s, so we're trying to make it work," Fried said.

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."

Larry Spivack, regional director for American Federation of State, County and Municipal Employees, Council 31, said the peaceful action will add to Chicago's rich history in the labor movement, which includes the 1886 Haymarket affair, when Chicago laborers and anarchists gathering in a square on the city's west side drew national attention when an unidentified person threw a bomb at police.

"The history of workers is built on issues like this here today," Spivack said.

Representatives of Republic Windows did not immediately respond Saturday to calls and e-mails seeking comment.

Police spokeswoman Laura Kubiak said authorities were aware of the situation and officers were patrolling the area.

Workers were angered when company officials didn't show up for a meeting Friday that had been arranged by U.S. Rep. Luis Gutierrez, a Chicago Democrat, Fried said. Union officials said another meeting with the company is scheduled for Monday afternoon.

"We're going to stay here until we win justice," said Blanca Funes, 55, of Chicago, after occupying the building for several hours. Speaking in Spanish, Funes said she fears losing her home without the wages she feels she's owed. A 13-year employee of Republic, she estimated her family can make do for three months without her paycheck. Most of the factory's workers are Hispanic.

Gutierrez said Friday he wants to know why Republic abandoned shop so quickly, and he's calling on the state's labor department to investigate. The company would not comment.

Bank of America, for its part, offered this response to the situation: "Neither Bank of America nor any other third-party lender to the company has the right to control whether the company complies with applicable laws or honors its commitments to its employees."

Republic sold its Goose Island plant to the Wrigley Company in 2006, according to the Chicago Tribune.

116 I keep my hard-earned money in BofA and I expect them to use it wisely by only lending it out to people who actually have a snowball's chance of paying it back. If they give in then I'm cashing out.

117 "The Governor of Chicago is such a tool."

That's a funny typo, because it's an old joke in Chicago that the mayor of Chicago is more powerful than the governor of Illinois.

118

Few outside the state realize the utter hatred most down staters in IL have for Cook Co. and  Smilin Roddy -- trouble for most of the down state is that Chicago and the major metro areas up north, coupled with the college town populations all over the state, constantly swing towards the Dems here.  They win the majority every time, even more now that welfare recipients have become a fixture in almost every small town (for reasons both legit and not) -- most vote whichever way they think will pay them, aka. Dem.

The rest of the IL residents get squeezed dry -- taxation with no representation as it were.  Moving out is definitely on my husband and I's agenda -- but we'd have to have decent job offers, and we'd have to sell our house first...like that's an easy thing right now.  Schiesse.

Anytime you get down staters together and start talking politics, there's heated talk of secession from the state of Chicago.  If there was a possible way to do it effectively and expediently I believe the majority would do it.

Blago & Co., Bof A, and Republic Doors and Window all have a long standing reputation of a not so commendable sort here in IL by the by.  This is just one more straw on the camel's back.

 

 

119 unknown jane: What I want to know is: how can we force Illinois to secede from the Union? They are dragging the rest of us down, along with Michigan.

120 Anybody who uses the term "justice" outside of the context of comic books is a fookin' cockholster.

121

Hey, give the rest of us in this benighted state a hand tossing off Chi-cago, and we'll help you in getting them out of the Union!  We're even more tired of having those slackers on our backs than the rest of you (although now maybe not so much).

Good quote from a fellow Illinoisan:  It just sucks to bite into a nice, plump, red apple to find out it's all rotten and wormy on the inside.  That's how Illinois politics works, a whole bag of apples and every last one of them is rotten and wormy on the inside.  And the country just voted in the biggest, reddest one of the lot.

122

Heh, yeah I know. I listen to WLS over the Internet regularly.

I guess what it takes is enough people standing up to the government. But I can't really talk here. My idea is to flee somewhere else when it gets bad because there's No Hope ™ of ever changing things. It sounds to me like a lot of people are doing the same thing in Michigan and Illinois.

123 No worries, he's in the pokey now.

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