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Saturday, December 06, 2008

Atlas Shrugs Epsiode #34533

Actually, I don't know the actual count, but I wonder if we will see more stories like this in the near future:
The union says company officials told employees they were closing shop because Bank of America would no longer extend Republic its line of credit. Bank of America wouldn't confirm that due to confidentiality issues. Workers say the fact that Bank of America received $25 billion in the federal bailout makes this even more unacceptable.

"More than 300 people are working here, and what are we going to do now?" employee Vicente Rangel said. "We don't get any single benefit. They even telling us they are not guarantee our payment for the week we just worked."


To the point of Ayn Rand's book, the following quote is a bit eerie:
"It's just miserable, everything is up in the air," worker Melvin Maclin said. "We don't know anything, no one wants to talk with us."

Union representatives say they arranged a meeting between Bank of America officials, the company and Chicago Congressman Luis Gutierrez to discuss compensation for the hundreds of employees at Republic. Gutierrez said company officials did not attend, but another meeting was slated for Monday.
So, if the company officials are hanging out in the equivalent of Galt's Gulch and they fail to come to the meeting on Monday, does this imply that the government would take over the factory or would sell it for pennies on the dollar to a "do gooder" looter, er, capitalist?

I hope this is just a coincidence and not a bellweather of things to come.

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