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2008-12-08 Home Front Economy

Obama Backs Window Workers Staging Sin-In

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Posted by Besoeker 2008-12-08 08:54|| || Front Page|| [11129 views ] Top

#1 The company is caught between laws which require it give notice and pay severence and its available funds. As I understand it, Republic had a line of credit with its bank, which would have normally allowed it to continue operations, but that bank was taken over by Bank of America, who found that Republic did not meet its (new?) credit-worthiness requirements, so it rescinded the line of credit. And may have even put a hold on existing cash balance of Republic, to protect its (Bank of America) other loans out to Republic. What that tells me is that in reality Republic is bankrupt and this sit-in cannot accomplish anything. On the other hand, the feds may require that Bank of America pass along some of that magic bailout money to Republic to pay its former employees, regardless of whether such a loan makes business sense. Where have we seen that kind of banking practice before?

Posted by Glenmore 2008-12-08 10:39|| 2008-12-08 10:39|| Front Page Top

#2 "...and understand that what's happening to them is reflective of what's happening across this economy," Obama said."

If Obama is making a comparison to the Detroit-Three Auto Makers he has a valid point. As a company, Republic Windows has been poorly run, went through bankruptcy and restructuring, and still couldnt get its shit together. They were unable to fulfill their Dealer obligations and unwilling to honor their warranties. When manufactured correctly their products are average at best. However, they have a high rate of defective products coming right out of the chute. Oddly, Republic is marketed as a Premium product line and therefore overpriced. Oh yeah, their customer service sucks too. Soooo a Union shop that is poorly managed, produces a substandard product, and has over-priced itself out of market sharehmmmyep its reflective of this economy all right. But somehow I dont think thats what he meant.

Posted by DepotGuy 2008-12-08 11:27|| 2008-12-08 11:27|| Front Page Top

#3 "One of the factory's workers, Silvia Mazon, said in Spanish"

Yeah, DepotGuy, think there's any correlation? Another ripoff, slipshod operation that should have been gone long ago.

Let's quit being such assholes. Put American workers to work. If you pay more, so be it. Maybe it will actually work. You just buy less. Purchase only what you need, not so much junk that you have to get a rental unit to store the excess. By deporting these illegals, state and local governments could easily reduce outlays by 40% over night. Maybe they could even run balanced budgets. There's a LOT of reality checks needed to get back on an even keel. Until that happens, going to be some tough times ahead.

Posted by Woozle Elmeter 2700 2008-12-08 11:54|| 2008-12-08 11:54|| Front Page Top

#4 The Rev. Jesse Jackson delivered turkeys,...

Talk about a pregnant phrase - worthy of a snark contest...

Posted by xbalanke 2008-12-08 12:39|| 2008-12-08 12:39|| Front Page Top

#5 The economy won't get better until the US reestablishes a sane trade and tariff policy. Until then, the US will keep merging our economy with the poorest economies of the world that money men can outsource to.

Posted by ed 2008-12-08 13:17|| 2008-12-08 13:17|| Front Page Top

#6 US will keep merging our economy with the poorest economies of the world that money men can outsource to.

You mean like Hank "Goldman Sachs" Paulson, clients of Kissinger and Associates, Tim "Yes I also speak Chinese" Ginther, and the like?

Posted by Besoeker 2008-12-08 13:27|| 2008-12-08 13:27|| Front Page Top

#7 It's a long and distinguished list. That's also why the pain will get worse and Obama will be seen as the good old days.

Posted by ed 2008-12-08 13:31|| 2008-12-08 13:31|| Front Page Top

#8 The Rev. Jesse Jackson delivered turkeys,..

As God is my witness, I thought the Rev. Jackson could fly.

Posted by SteveS 2008-12-08 14:32|| 2008-12-08 14:32|| Front Page Top

#9 Obama Backs Window Workers Staging Sin-In

I came here for the Sin-In, and I get is an ordinary sit-in! Ripoff! Maybe Obama will compensate me for my trauma.

Posted by Angie Schultz 2008-12-08 15:42|| 2008-12-08 15:42|| Front Page Top

#10 Leah Fried, an organizer for the United Electrical Workers union

What a perfect snark, and just laying there unguarded.

I picture a explosion of hair and a shocked look.

Posted by Rednek Jim 2008-12-08 15:45|| 2008-12-08 15:45|| Front Page Top

#11 The company is bankrupt. It's over.
My only question is where's Sharpton?

After the cameras and the news cycle have moved on, so will the parasites. In the end, the workers will wither. Alone.

Jesse pulled the same stunt back in the 1980's during the International Paper strike.

Posted by Minister of funny walks 2008-12-08 18:58|| 2008-12-08 18:58|| Front Page Top

#12 The Rev. Jesse Jackson delivered turkeys

Must've been a drag cooking them in the break-room microwave...

Posted by Pappy 2008-12-08 19:08|| 2008-12-08 19:08|| Front Page Top

#13 I misread the headlines. I thought that it said, "Window washers." Silly me.

Posted by Alaska Paul 2008-12-08 20:17|| 2008-12-08 20:17|| Front Page Top

#14 Me too, AP. AND I was speculating on the ~~sex~~ sin.

Bummer.... ;-p

Posted by Barbara Skolaut">Barbara Skolaut 2008-12-08 21:08|| http://ariellestjohndesigns.com/]">[http://ariellestjohndesigns.com/] 2008-12-08 21:08|| Front Page Top

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