Good news coming in via the AP. The Republic Windows workers have voted to end their sit-in:
Workers have approved a $1.75 million agreement, ending a sit-in that lasted six days at a Chicago window and door factory.
U.S. Rep. Luis Gutierrez says each former ...
Good news coming in via the AP. The Republic Windows workers have voted to end their sit-in:
Workers have approved a $1.75 million agreement, ending a sit-in that lasted six days at a Chicago window and door factory. U.S. Rep. Luis Gutierrez says each former Republic Windows & Door employee will get eight weeks salary, all accrued vacation pay and two months paid health care.
As we noted yesterday, Chase Capital -- a subsidiary of JPMorgan Chase -- has largely escaped scrutiny in this whole dispute, despite the fact they own a substantial minority stake in the company. So it's notable that they're covering about a quarter of the agreed-upon amount:
Bank of America spokeswoman Julie Westermann says the company loaned $1.35 million. Gutierrez says JPMorgan Chase & Co. added $400,000.
Credit is due to all the labor leaders who made this happen. The question now: what's next? There's certainly still need for a "people's bailout" on the federal level. More locally, this dispute has renewed focus on Chicago's tax increment financing (TIF) system. We'll follow-up on the possibilities there tomorrow morning.
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