Factory Sit-In Successful? Bank Of America Caves On Loan

It looks like the sit-in at the Chiago window factory worked: Bank of America (BAC)announced this afternoon that it would make loans available so that Republic Windows & Doors LLC can settle employee claims:

Bank of America today sent a letter to Republic Windows & Doors LLC indicating that the bank is prepared to provide a limited amount of additional loans to Republic to help fund a comprehensive resolution of Employee Claims.

Bank of America expressed concern in the letter about Republic’s failure to pay their employees the Employee Claims to which they are legally entitled.

Note that just yesterday, Illinois Governor Rod Blagojevich — yes, that Rod Blagojevich — said that the state of Illinois would sanction BoA if it didn’t reverse course ont he loan. In fact, it’s Rod’s last official announcement on his website before he got indicted.

See Also:
Factory Sit-In Continues: Four Nights With No Resolution

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