09 December 2008

Sit-Down Strike Update

The issue in the Republic sit-down strike involves three parties: the workers, the employer and the Bank of America. The Bank would not extend credit to the business, so it shut down, but not before the workers could occupy the plant and demand what they considered their due. So who are the bad guys: Republic or the Bank? Some blame the Bank because, freshly bailed out in the expectation that it would open up credit streams, it wouldn't bail out Republic. So now the Bank has come around and announced that it will extend credit to Republic. Reporters take this as a victory for the striking workers on the assumption that Republic will do the right thing. The workers themselves are more tentative. They say the strike goes on pending a vote. If I were one of them, I wouldn't leave until the check was in my hand, and I'd leave someone there until the check was cashed.

2 comments:

MakeMoneyOnline said...
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troutbirder said...

indeed!