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

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

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.

Ron Bender, a UE member and 14-year machine operator at Republic said it best . "We're doing this for the other working people in the country. What's happened to us can happen to anyone -- they could just close up and put you out and give you no severance pay."

***

The following story is from UE’s site: Chicago Aldermen Aim to End City's Business with Bank of America

A contingent of 15 Chicago aldermen said today they will introduce an ordinance to require the city to stop doing any business with the Bank of America.

Bank of America cut off its line of credit to Republic Windows and Doors, causing the Chicago company to halt operations on Friday, December 5 and terminate its 250 workers with only three days notice, and without receiving their earned vacation pay, as well as compensation they are entitled to under the WARN Act. The workers' situation attracted world-wide attention begining Friday evening, when they began occupying the plant, refusing to leave until Bank of America, the company and other creditors honor their obligations to employees. 'Outrageous, Unfair and Arrogant'

See more stories tagged with: chicago, bank of america, ue, sitdown strike

John Woodruff Jr., is a UE Field Organizer.

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