Tuesday, December 09, 2008

A RARE EXAMPLE OF "TRICKLE DOWN"

I know this isn't what the supply-siders are talking about but it fulfills the minimal definition of "trickle down."

Workers win a big round in Chicago factory sit-in
Dec 9 06:03 PM US/Eastern
By MICHAEL TARM
Associated Press Writer

CHICAGO (AP) -

The Republic Windows and Doors factory closed last week after Bank of America canceled its financing. About 200 laid-off workers responded by staging a sit-in at the plant, vowing to stay until getting assurances they would receive severance and accrued vacation pay.

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."

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