Illinois Governor Suspends All State Business With BofA.
Um, ok… I imagine we are going to start seeing more stuff like this as the credit crisis gets worse, no?
In a stinging note of support for the laid off workers that have taken up residency in Chicago’s Republic Windows & Doors factory, the Governor of Illinois has suspended business with Bank of America until it reissues credit to the shuttered company. Bank of America cut off credit to Republic Windows & Doors company last week, and workers, demanding severance pay, began staging sit-ins, effectively taking control of the building. Bank of America, Chicago’s second largest bank, has received over $15 billion in bailout funds from the federal government. During a Monday news conference, Illinois Governor Rod Blagojevich insisted that the money was intended to be used for purposes such as this.
What do you think? Wrong or right? I am of the mind that if they are going to take the bailout money, than they should be using it for it’s intended purpose, no?
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Not to detract from this story but the same Govenor was indicted today by the Feds for pretty much attempting to sell the empty Obama Senate seat to the highest bidder…
Yea, but I am more concerned about the workers than the Gov. Illinois politicians are always in hot water lol.
This decision by the governor is all part of his pattern of corruption. It has nothing to do with looking our for employees.
I heard about the governor today. I’m with you David, between all this noise are employees without pay.
I do want to see BofA’s explanation. It could be that the company is in financial ruin or they’re hoarding it. I’m not a fan of BofA, but I’d like to see their story.
I am not a fan of BofA either lately, but they are my bank and I am a shareholder, so I am a little concerned!
I’m of the opinion that if you dislike the way a company is doing business, first write a letter, if that doesn’t work, let them know with your money since that is so much more important to them then customers sometimes.
It should be interesting to read BofA’s response to this. (I remember reading somewhere that they did agree to continue lending).
And did the Governor’s problems start after this quarrel with BofA or is he just a ne’re do well?
Cheers
I believe he is just a crappy guy in general, who knows though.