"You Got Bailed Out, We Got Sold Out."

A contingent of 15 Chicago aldermen said today they will introduce an ordinance to require the city to stop doing any business with the Bank of America.

Bank of America cut off its line of credit to Republic Windows and Doors, causing the Chicago company to halt operations on Friday, December 5 and terminate its 250 workers with only three days notice, and without receiving their earned vacation pay, as well as compensation they are entitled to under the WARN Act. The workers' situation attracted world-wide attention beginning Friday evening, when they began occupying the plant, refusing to leave until Bank of America, the company and other creditors honor their obligations to employees. 'Outrageous, Unfair and Arrogant'

"It is outrageous for Bank of America to cut off credit, a company's lifeblood, after receiving $15 billion of taxpayers' money as part of the federal government's Troubled Asset Relief Program (TARP)," said Alderman Joe Moore (49th Ward). Bank of America also has raised $9 billion in taxpayer guaranteed loans and is expected to receive another $10 billion in TARP funds in the next two weeks.

"It's not only unfair to the workers, but also Bank of America is thumbing its nose at Congress by taking federal recovery funds while refusing to extend credit to a small manufacturing company with a long history of profitability," said Thomas Balanoff, president of SEIU Illinois Council. "Bank of America's withdrawal of credit also contradicts and undercuts President-elect Barack Obama's plan to stimulate the depressed economy by investing in weatherization of existing homes and buildings and in other infrastructure and energy-saving construction," Balanoff added. 'Greater Demand with Obama's Proposals'

"The workers want Bank of America to keep the plant open and the workers employed," said Carl Rosen, president of UE, the union that represents the Republic workers. "There is always a demand for windows and doors. But with Barack Obama's stimulus proposal, there will be even greater demand for the products made by Republic's workers. It doesn't make sense to close this plant when the need is so obvious," he added.

The ordinance requires that any City of Chicago funds deposited at Bank of America, or any of its subsidiaries, be removed and placed with another suitable bank. It also states that Bank of America shall not be selected to underwrite, sell, market or re-market any City of Chicago bonds without the explicit approval of City Council. 'We Have a Right to be Treated Fairly'

The ordinance also contains a provision requiring that any proposed change in zoning of a property owned by Bank of America, or any of its subsidiaries, be brought individually before the full City Council for evaluation and approval.

"Under the law, the City Council has the authority and responsibility to take into account the interests of Chicago and its residents when deciding which banks to do business with," said Alderman Ricardo Munoz (22nd Ward). "Bank of America profits handsomely from the business it gets from the City and other governments. We have a right to demand that workers are treated fairly."

Cook County Commissioner Michael Quigley is preparing a similar ordinance to curtail the county's business with Bank of America.

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BAckground

UE Local 1110 members in Chicago, employees at Republic Windows and Doors have occupied their workplace since Friday night in a courageous bid to win what they are owed and to save their jobs.

Only a couple days earlier, they had learned the plant would be closing Friday as Bank of America, flush with U.S. government bailout cash, had refused to extend Republic's line of credit. They found out the bank had also refused to allow Republic to pay them what they were owed.

They realized their only real chance at winning a measure of fairness would be to guard, and guarantee the safety, of the only asset at their disposal -- their workplace.

A World of Support

Since then, worldwide support has poured in as the news of a plant sitdown -- rarely seen in the U.S. since the 1930s -- spread like wildfire. By early Monday morning, a Google news search found nearly 1,500 story references. One Facebook group grew from 800 to 2,400 members between noon and midnight Sunday.

Working people, caught in the turmoil of the current economic crisis have found new hope in the actions of these UE members. And, that's not gone unnoticed.

Politicians, including president-elect Barack Obama, members of Congress, members of the Illinois legislature, Chicago city officials and civil rights leaders including the Rev. Jesse Jackson have all voiced their support for this fight. We hope you will, too. What You Can Do

From stopping by the plant (if you're in or near Chicago) to sending a message of solidarity to making a much-needed donation to telling Bank of America to be honorable in its actions ... these are just some of the ways you can help ... and they are all listed on the  link below:

http://www.ueunion.org/republic_main.html