Bank of America's Greed Sparked the Eye-Opening Worker's Strike in Chicago

[marmar]

via AlterNet:



Bank of America's Greed Sparked the Eye-Opening Worker's Strike in Chicago

By John Woodruff Jr., Portside. Posted December 9, 2008.

The bank took $25 billion of taxpayers' cash, but wouldn't lend Republic Windows and Doors the money it needed to keep going.



The following is written by a field organizer for the union involved in the sitdown strike at a Chicago factory:

It seems like forever now that we have been hearing about the importance of the Wall Street "bailout", and how that was the only way that we as taxpayers could avoid an even worse financial crisis in the U.S. The idea was that if we gave the big banks and credit markets access to about $700 billion dollars (or so), they would in turn help small businesses to keep operating and keep U.S. workers employed.

At least that's what I thought it was supposed to be about.

Tell that to the 300 United Electrical, Radio and Machine Workers of America (UE) members that, up until this past Friday, had jobs at Republic Windows and Doors in Chicago.

Bank of America, our country's second largest bank, did indeed take $25 billion dollars of "bailout cash", then gave the shaft to that company and its workers by refusing to renew and extend it any operating credit to stay in business through the economic downturn. Just close the doors and throw the workers out onto the street without any notice in freezing temperatures right before the holidays, Bank of America said, and don't bother paying them any vacation or severance pay either. Oh, and just cancel everyone's health insurance while you're at it. Sorry about those pregnant workers, too.

Well, these UE members decided they were NOT going to be put out into the streets like animals, and they would just take over the factory until they got what they had coming to them. This is just simple fairness and self-preservation, but what is happening in Chicago needs to be talked about and actively supported by all working people in this country . Because you are next. We are all next, if we let Bank of America take our money and use it to fatten their profit margin and bottom line instead of what it was supposed to be used for: Helping regular hard working Americans like the sisters and brothers at Republic. .......(more)

The complete piece is at: http://www.alternet.org/story/111149/bank_of_america%27s_greed_sparked_the_eye-opening_worker%27s_strike_in_chicago/

[Triana]

1. Makes me wonder why Working Assets uses BoA for their credit cards. n/t

[varelse]

4. be a good time to ask them that, maybe? (nt)

[LiberalEsto]

2. How big will the BoA exec bonuses be this year?

Just wondering.

[Odin2005]

3. Those 200 workers are heroes!!!

:patriot:

[Tatiana]

5. I drove by there and was moved to tears.

These are hard workers who were thrown out of work right before Christmas. They have families and now they have nothing.