The Scary Message of Republic Windows & Doors

BofA doesn't need to do anything

Bank of America has no obligation whatsover. They are merely detached creditors, whose loan would only be a gift given to RWD, as it would clearly not be paid back. The media exposure bullied BofA to give out a loan that shouldn't be given out.

Kurt of NY @ Mar 29, 2009 23:22:01 PM

rjeuqpxsIbIa

Hi. Good news.

Gordon of OK @ Dec 24, 2008 19:21:09 PM

Republic Windows & Doors and My Law Firm - The Same

Employers trying to screw employees out of what is owed them is not new. In October I was laid off along with close to 700 other employees at my law firm - and no, I am not an attorney. Just someone who wiped attorney butt all day.

Just like Republic they won't pay accrued vacation (I am sitting on over 225 hours) or the WARN Act monies as required by law. You'd think that lawyers would know what laws to follow and not to break! At least 300 of us have not found new employment in this economy and are looking forward to Crappy Holidays thanks to Heller Ehrman as well as Bank of America and Citibank who are making decisions not to pay us.

http://hellerdrone.wordpress.com/2008/12/07/through-a-glass-darkly/

Thomas Macentee of IL @ Dec 10, 2008 13:50:35 PM

Bill Gross

Is the Bill Gross quoted here the same Bill Gross who begged and pleaded for Treasury to step in and buy bad assets from banks? And Pimco's balance sheet? Seems as though Gross is in favor of government intervention and regulation when it benefits him.

Paul of IL @ Dec 10, 2008 10:50:12 AM

The employees

should remain where they are and extend their demands to include taking control of operations. Employee management (not at all the same as ESOPs) has proven more than a little effective when not burdened by poor management and/or overweight union bureacracy.

Surely producers deserve as much or more consideration than rentiers.

Juan of NM @ Dec 10, 2008 01:23:05 AM

Blagojevich

This is the guy who was trying to sell Obama's Illinois Senatorial seat, no?

@No Name:

"We have run deficits almost every year since Reagan was elected and de-regulation has screwed everyone from investors to truck drivers."

Do you honestly think Obama is going to reduce the federal deficit? He's got to stabilize the economy, fund a massive investment in a new energy policy, fund socialized healthcare, make adjustments to forestall the collapse of social security, and fight an on-going armed conflict with a radical Islamic terrorists trying every day to get their hands on WMD.

I don't think President-Elect Obama is going to find that much pork barrel and earmarks spending in the budget or generate revenue exclusively from taxpayers making $250 or more. To do even 1/2 of all this, he'll have to completely repeal the Bush tax cuts. Personally, I don't see any of this as being a sure fired recipe for balancing the budget and creating three million new jobs in his first term.

Jay of GA @ Dec 09, 2008 20:59:51 PM

This isn't about keeping companies on life support. The Bank of America yanked a credit line and forced a company in the process of shutting down to do it in a way which violated regulations. The employees took action to get paid what was legally theirs.

The government is not inherently evil and the private sector is not inherently good or wise. This isn't the 1920s, but a new type of crisis resulting from recklessness and dishonesty.

The usual rules of capitalist exchange is if someone gives a massive amount of money, they get to protect their investment and a say in the business. The free market zealots are actually saying they don't want the rules of give and take to apply to them.

Nonsense like "animal spirits" and "entrepreneurial testosterone" and "creative destruction" are what created this current disaster. Lame poetry like that has nothing to do with reality. Substitute "fradulent lending methods" and "bond rating malpractice" and "dishonest projections" and "insider trading" and you get closer to the truth.

What the money types want, in essence, is a free market dictatorship in which the private sector can take billions from the public yet remain unanswerable to public institutions.

hmmpf of @ Dec 09, 2008 17:09:39 PM

republic windows

Buy a red beret, grow a beard, march in the streets and yell "Down With Capitalism!" Well, at least our politicians are wearing Brooks Brother suits, Johnston and Murphy shoes with a wad of taxpayers dollars in their pockets. . . of course they have to because they really hate Capitalism, Free Enterprise and Individual iniative in favor of Big Brother Socialism/Communism that they believe will protect you from the evils of the bad Industrialist.

What about the creditors of Republic Windows and the money THEY are owed from the defunct company. I guess the taxpayer should have to pay their losses as well. As for the disgruntled employess- sick pay, vacation pay, lost salaries . . .the company went broke. Simple! When are we going to say stop to this madness. We're losing our country and our way of life.

rognvald of IL @ Dec 09, 2008 16:26:31 PM