Illinois gov't to stop doing business with BOA

I was watching the governor of Ill adress the Republic windows worker sit in and he drew a pretty big line in the sand. He said that all state agencies would immediatle stop all business with Bank of America until they release the money to help out the workers.

Wonder if this is a precursor to more factory sit-ins and more state gov'ts intervening on behalf of the people while the Federal gov't intervenes on the behalf of corporations. Who knows, maybe Republic windows will be a modern day version of Ft. Sumter.

Here's the link:

www.chicagobreakingnews.com...

I saw that also. I want to see it in action however. Words dont mean much to me.

reply to post by mybigunit


How is this a good idea? Is this a bailout at the local level? If the company is insolvent, then well, no loan. Am I missing something?

reply to post by chasm


I believe the issue was that BoA stopped all financing including severance pays etc., which BoA is claiming isn't their responsibility, which isn't but it's still bloody cold.

Originally posted by chasm
reply to post by mybigunit

 

How is this a good idea? Is this a bailout at the local level? If the company is insolvent, then well, no loan. Am I missing something?

What your missing is the fact that they are pulling lines from both solvent and insolvent companies. They are turning good companies bad by pulling lines. Look at Caterpillar for example. They had to go direct to the FED for a loan because the banks pulled their lines. We all know CAT is a good company. Not everyone has the clout to go to the direct source to get loans. That is what you are missing. The banks who dont want to loan money then screw them we the people will pull all of our money out and quit doing business with scumbags like B of A. Oh just to mention for full disclosure B of A pulled our business line of credit also so I know how these guys feel.

reply to post by mybigunit


couldn't agree more... star for you sir.

At this point BofA only cares about saving their own butts.

Hello All - First time poster long time reader. I am an Illinois resident my whole life. Having been involved in Illinois state government and having been involved with BOA, I have two points here.

As far as Blago our illustrious governor, This man has been a ghost as a governor. He resides permanently in Chicago with his Chicago Big Business cronies not in Springfield. You usually only hear from him when he is defending allegations of wrong doing or hear about him when he is being accused of wrong doing.

Governor Rod Blago has not only raped the people of this state but has raped the financial resources of this state itself lining his pockets with tax payer money. He has been under investigation by the feds for sometime now and is coming close to indictment. I hope our previous governor who is serving prison time for the same BULLS**T has room for him in his cell.

Sorry for the rant and back to the topic. Blago’s commitment to suspend business is complete BULLS**T. The state of Illinois currently (as of today) has 205 separate departmental accounts with BOA. (Source - Immediate family member at corporate level with BOA) and Blago does not have the resources within his kingdom to make this happen. It is all talk, perhaps to gain some public sympathy prior to going off to prison.

This is more empty meaningless words by this POS governor of ours just as we have had from him the last 1 ½ terms.

As far as BOA (again, my source - immediate family member), they were bound contractually to provide Republic Windows with a minimum 60 days notice of termination of credit line unless an indictment takes place due to fraudulent or illegal use of said credit line. To the best of my knowledge, there was no misuse of funds. I am in total agreement with FoxStriker, BOA is only concerned with saving they’re own worthless arse.

BOA was wrong (based on the info I currently have) and should be held accountable for all these newly unemployed workers pay and earned fringe benefits.

One side note, Google “BOA Complaints” and variants of same. It will become obvious that BOA is out for BOA and screw the hard working person to get there.

Just my opinion - thanks for the ear.

Watching the people of Republic Windows and Doors last night speak about how they had been treated... it struck me that this is just the beginning. More companies are going to shut down and their employees (and families) are going to be left out in the cold without an income, health insurance, their stock in the company or even their vacation and holiday pay. And at this time of year! They're not going to be able to pay their house payments... This is going to get really ugly.

As regards BOA... Well, I can't say it here, so I'll just move along.

Thanks eenhereb4 for the scoop on the gov. Sounds par for the course.

Looks like the Federal Government disagrees:

A source said today that Gov. Rod Blagojevich was taken into federal custody at his North Side home this morning. The U.S. attorney's office would not confirm the information.

- Chicago Breaking News dot com

Governor Rod Blago has not only raped the people of this state but has raped the financial resources of this state itself lining his pockets with tax payer money. He has been under investigation by the feds for sometime now and is coming close to indictment. I hope our previous governor who is serving prison time for the same BULLS**T has room for him in his cell.


Hmmmm. Governor Blago just arrested by the FBI at his northwest side home. FBI to hold press conference today at 11:00 AM. SUPRISE SURPRISE SURPRISE

Move over Former Governor Ryan – your gonna have a roomy!!!!!


[edit on 9-12-2008 by beenhereb4]