Remember how I told you yesterday about the fight workers at Republic Windows and Doors were waging to get the severance and vacation pay they had earned?
CHICAGO - Bank of America says it will extend credit to a Chicago window and door maker whose workers have occupied the factory for five days.
The bank said Tuesday that it’s willing to give the Republic Windows and Doors factory “a limited amount of additional loans.” That’s so it can resolve claims of employees who have staged a sit-in since Friday.
The factory closed Friday after Bank of America canceled its financing.
Workers were given three days’ notice. But they refused to leave and vowed to stay there until receiving assurances they would receive severance and accrued vacation pay.
The bank has been criticized for cutting off the plant’s credit after taking federal bailout money.
UPDATE (5:30PM): Well, that’s what I get for believing the AP without tracking down independent confirmation — a statement from the workers’ union indicates that while progress has been made, there’s no settlement yet:
Talks that began at 1:00 pm today in Chicago are continuing. No settlement has reached at this time.
Yesterday, Bank of America issued a statement that it was willing to provide a “limited amount” of additional loans to Republic Windows and Doors to help resolve the plant occupation.
Late this afternoon some news organizations published stories, based on the bank’s statement yesterday, that are factually incorrect (we found an accurate account on the Chicago-Sun Times website).
We will provide updated information as it becomes available.
It looks like AP has updated their story, too, changing the headline from “Workers Win!” to “Workers win a big round”:
A resolution appeared closer when the bank announced that it had sent a letter to Republic offering to “provide a limited amount of additional loans” to resolve the employee claims.
The bank appeared to side at least in part with disgruntled workers, expressing concern in a statement Tuesday “about Republic’s failure to pay their employees the Employee Claims to which they are legally entitled.”
Bank of America has been criticized for cutting off the plant’s credit after taking federal bailout money itself.
Leah Fried, a spokeswoman for the union representing the workers, said Tuesday that it was too soon to know whether the sit-in will be called off. She said that workers would have to vote to end the action but that negotiations among the bank, the company and union representative continued.
(Emphasis mine)
So the strike goes on. Thanks for getting me all psyched for nothing, AP! Sheesh.
In the meantime, if you want to help the striking workers, it’s not too late. Here’s how you can help.
UPDATE (Dec. 11): This time it’s for real!