Oh - also in the news

[wendyzski]

Those fired workers staging a sit-in because they only got 3 days notice and no severance/earned vaca pay (counter to their union contract)?

I used to work there.

That's the window company that had some kind of fumes backing up from the factory floor under my office that had me passing out on the file drawers, and where the safety manager called my doctor a liar at the top of his speakerphone.

Comments

[jmthane.livejournal.com]

I thought that was that Republic Windows...

[wendyzski.livejournal.com]

It is.
http://www.cnn.com/2008/US/12/08/chicago.labor.protest/index.html

[ladyniniane.livejournal.com]

Saw that news report, wondered why the name sounded really familiar. Wow...

[wendyzski.livejournal.com]

On the one hand, I have watched all those home building companies fail - names I recognize from when I worked there in Warranty Services.

On the other - some workers are saying that they company has been sneaking equipment out in the middle of the night, and I can TOTALLY see them doing that kind of crap.

And the fact that anyone who has their eye on Obama's old job is flailing to get attention over this mess. Add in the fact that Chicago is a HUGE union town, and I'm not surprised this became a circus in fairly short order.

It all depends on the terms of the line of credit, the cancellation clauses written into it, and what collateral was used to secure it. You need to know those things plus what assets the company has left before you can determine who exactly is responsible for paying these people.

[post-toastie.livejournal.com]

Since I doubt the employees worked for Bank of America, it is pretty plain to me that Republic is responsible for paying them. The question is whether Republic thought they could rely on B of A to supply the funds. I'm no fan of the banking industry, but it would seem to me that if B of A improperly terminated the line of credit, they'd open themselves up for a huge lawsuit at a time when banks really aren't anyone's friend. From what has been said about Republic, I wouldn't put it past them to try to screw the employees over by firing them and moving the factory to Iowa, then get B of A to pay for it.

[ashtalet.livejournal.com]

I thought that name sounded familiar.