One wonders how truly spontaneous the Republic Windows and Doors strike is. Let’s see. On Friday, the company announces it is laying off all workers because BOA withdrew its line of credit. Only two days later, over a weekend no less, Barak Obama leads the charge to announce his solidarity with the 200 workers at the plant. On Sunday also, Jessie Jackson arranges for his groups to deliver turkeys to the workers, praising their courage “in the tradition of Cesar Chavez”. On Monday, the governor of Illinios announces that the state will suspend business with BOA. Dick Durbin makes threatening references to the federal bailout funds not being for executive salaries.
In such a short time, did anybody bother to listen to BOA’s and the company management’s side of the story? Maybe communications are just better in Chicago! I guess community organizers there are just, you know, connected.
I guess this is what we can expect now that the Democrats control the banking system. You know, it’s not so surprising that a window and door company would have difficulties in the midst of the worst housing downturn in decades, and it is not surprising that BOA would take action given that the company probably violated all of its loan covenants. If we bail out this company, where will it all stop?