Analogman Posted December 7, 2008 Author Share Posted December 7, 2008 This is the sort of thing we need more of - I hope they don't end up shot down by the cops. Angry laid-off workers occupy factory in Chicago By RUPA SHENOY, Associated Press Writer Rupa Shenoy, Associated Press Writer Quote Link to post Share on other sites
mountain bed Posted December 7, 2008 Share Posted December 7, 2008 I totally agree Aman. What has been done to unions since around '81 or so is just a shame. It almost feels like a class thing to me - give Wall Street suits nearly a trillion bucks with no questions asked, but rake manufacturers over the coals for 1/20th of that cost. WTF? Maybe this goes in the Big 3 Thread. As far as not being able to pay workers with their line of credit from a bank - I call bullshit. Quote Link to post Share on other sites
Edie Posted December 7, 2008 Share Posted December 7, 2008 The manufacturing sector's problems are only beginning. The big three and the rest of the sector are in a world of hurt if demand doesn't stabilize. What is hurting demand? The housing sector's problems. I heard the other day that the fed is looking at a new program that would offer people the chance to get new mortgages at 4.5% - designed to help to reduce the inventory overhang. The program as currently designed would not include refi's but that might change. We will probably never be where we were before - which is healthy. Finding the equilibrium will not be easy. Quote Link to post Share on other sites
Basil II Posted December 8, 2008 Share Posted December 8, 2008 I heard a blurb on the tele......"The resurgence of the "right wing" depends on challenging Obama's citizenship in the U.S...........thus his "fitness" to govern from the White House will be suspect..... I mean....WT Holy F??? have we really come to this??? We truly are in a midst of a ideological ,unending take no quarter, Civil War?? Jeeez..... -Robert Quote Link to post Share on other sites
John Smith Posted December 8, 2008 Share Posted December 8, 2008 I heard a blurb on the tele......"The resurgence of the "right wing" depends on challenging Obama's citizenship in the U.S...........thus his "fitness" to govern from the White House will be suspect..... I mean....WT Holy F??? have we really come to this??? We truly are in a midst of a ideological ,unending take no quarter, Civil War?? Jeeez..... -Robert They are going to try many many things trying to unseat him. The one that hit the SC last week had been turned down by Breyer (or souter, can't remember right now), but Thomas picked it up to bring before the whole court to review. It was rejected without comment today. But there are more challenges in the pipeline to keep him out of office before he gets sworn in. One suit even wants a re-do on the election on the basis that Neither Obama or McCain qualifies as a natural born citizen (Panama Canal zone maybe, but Hawaii?). It's just crazy. Quote Link to post Share on other sites
bjorn_skurj Posted December 8, 2008 Share Posted December 8, 2008 This is the sort of thing we need more of - I hope they don't end up shot down by the cops.Obama is on the workers' side. Quote Link to post Share on other sites
jenbobblehead Posted December 8, 2008 Share Posted December 8, 2008 The governor of Chicago has asked that all businesses refrain from doing bidness with Bank of America until they give credit to that door and window company so the workers can be paid. Quote Link to post Share on other sites
Duck-Billed Catechist Posted December 8, 2008 Share Posted December 8, 2008 Wouldn't that likely just be throwing money away by BoA*? *I have not read anything about this story, but saw something about it on the news. Quote Link to post Share on other sites
Guest Jules Posted December 8, 2008 Share Posted December 8, 2008 The governor of Chicago has asked that all businesses refrain from doing bidness with Bank of America until they give credit to that door and window company so the workers can be paid.Chicago has a governor? Quote Link to post Share on other sites
jenbobblehead Posted December 8, 2008 Share Posted December 8, 2008 Wouldn't that likely just be throwing money away by BoA*? *I have not read anything about this story, but saw something about it on the news.well, i think it depends on just how big of a risk extending credit to this factory is. I would imagine that there's a bit of a slowdown for doors and windows since new home sales and construction is down, but it doesn't mean that the credit being extended isn't just how business is generally done during the last quarter with shit is usually freaking slow anyway. Unless it is retail. or fruit delivery. Quote Link to post Share on other sites
Duck-Billed Catechist Posted December 8, 2008 Share Posted December 8, 2008 Didn't the factory lay off all their workers? I think the company is closing. Quote Link to post Share on other sites
jenbobblehead Posted December 8, 2008 Share Posted December 8, 2008 Didn't the factory lay off all their workers? I think the company is closing.But the workers are still owed their last paycheck. I think that's what the deal is. Yeah, maybe it is throwing good money after bad, but what are these people going to do? Get in line after the creditors? What's the solution? I'm not even a fan of labor unions but even I know this sucks. BoA got bailout money--where did it go? Quote Link to post Share on other sites
Duck-Billed Catechist Posted December 8, 2008 Share Posted December 8, 2008 I don't know what the solution is. State law says that they have to pay the workers. It's possible that they would have money do to that eventually by selling their assets. Maybe BoA could give them credit based on that. Quote Link to post Share on other sites
Gobias Industries Posted December 8, 2008 Share Posted December 8, 2008 I totally agree Aman. What has been done to unions since around '81 or so is just a shame. It almost feels like a class thing to me - give Wall Street suits nearly a trillion bucks with no questions asked, but rake manufacturers over the coals for 1/20th of that cost. WTF? Maybe this goes in the Big 3 Thread. As far as not being able to pay workers with their line of credit from a bank - I call bullshit. A working class hero is something to be. Quote Link to post Share on other sites
jenbobblehead Posted December 8, 2008 Share Posted December 8, 2008 I don't know what the solution is. State law says that they have to pay the workers. It's possible that they would have money do to that eventually by selling their assets. Maybe BoA could give them credit based on that.Do do they get paid before or after the creditors? If they get to piggy back with all the other creditors, (assuming the plant is filing for bankrupcy) then they are probably the last to (not) get paid. Does state law say that workers get paid before anyone else? That would be good if it did. If it doesn't then i hope the legislation is being written right now. Chicago has a governor?There are other cities in IL besides chicago? I mean, really? Quote Link to post Share on other sites
Duck-Billed Catechist Posted December 8, 2008 Share Posted December 8, 2008 I think the workers should be paid first, but I'm not sure why BoA should be required to throw money away (if the company was about to go bankrupt and they would not get it back). Then again, in a post-bailout world, I have no idea how we're supposed to prioritze need, obligation, etc. Quote Link to post Share on other sites
Duck-Billed Catechist Posted December 8, 2008 Share Posted December 8, 2008 I heard on the radio that BoA is saying that they have no control of how the company uses their credit (which is not what the company said) and that they are honoring the credit agreement. So it could be a case of a smaller company (small compared to BoA) trying to push off responsibility and poor-mouthing the workers. Quote Link to post Share on other sites
bjorn_skurj Posted December 8, 2008 Share Posted December 8, 2008 I think the workers should be paid first, but I'm not sure why BoA should be required to throw money away (if the company was about to go bankrupt and they would not get it back). Then again, in a post-bailout world, I have no idea how we're supposed to prioritze need, obligation, etc.It will probably be in order of getting on CNN. Maybe we need something like this. Would make a good TV movie, anyway. http://en.wikipedia.org/wiki/Bonus_army Quote Link to post Share on other sites
jenbobblehead Posted December 9, 2008 Share Posted December 9, 2008 I read on a blog that the company in question basically tanked the Chicago company and started another company JUST LIKE IT in Iowa, saying that THAT company will be able to fulfill the window orders. I am unsure why BoA is being painted as the bad guy if that's the case, unless if it was because they are financing this new Iowa company, and screwing the union as a result. I must get to the bottom of this! Quote Link to post Share on other sites
Edie Posted December 9, 2008 Share Posted December 9, 2008 Window/door companies are notoriously slippery. This would not surprise me a bit. Quote Link to post Share on other sites
jenbobblehead Posted December 9, 2008 Share Posted December 9, 2008 Btw, Edie, when pressed I suggested that you be the one to oversee the big auto bailout--the auto czar, as it was referred to...So if you get a call, act surprised. Quote Link to post Share on other sites
remphish1 Posted December 9, 2008 Share Posted December 9, 2008 Obama has a 79% approval rating for his handling of the transition! http://www.cnn.com/2008/POLITICS/12/09/Obama.poll/index.html Quote Link to post Share on other sites
Tweedling Posted December 9, 2008 Share Posted December 9, 2008 Obama has a 79% approval rating for his handling of the transition! http://www.cnn.com/2008/POLITICS/12/09/Obama.poll/index.html Quote Link to post Share on other sites
LouieB Posted December 9, 2008 Share Posted December 9, 2008 The governor of Chicago has asked that all businesses refrain from doing bidness with Bank of America until they give credit to that door and window company so the workers can be paid.The "governor of Chicago" is also and Governor of IL and he may not be so for too much longer...he was just taken into custody by the FBI this morning. In the meantime state employees can't use their state credit cards which are from BoA. LouieB Quote Link to post Share on other sites
MattZ Posted December 9, 2008 Share Posted December 9, 2008 I know it's sort of ridiculous to be analyzing how Obama is "handling" something given that he isn't in power yet (and I assume that's what you are laughing at). But the truth is, the market is very fragile right now, and his appointments have been very reasonable, and he went on Meet the Press to give a full roadmap to recovery -- with much more detail than (I think) any President-elect has given prior to taking office. By being smart, sensible, and transparent, he has done a fantastic job of projecting an image of calm during chaos, and I think that deserves to be lauded, no? He has also done a good job of highlighting that he will govern (mostly) from the center which shows that his talk of bi-partisanship wasn't just talk, no? Quote Link to post Share on other sites
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