Republic Windows Workers Win! Plant Occupation Over

  This is a big win for workers in this country. Let us hope that the trend will continue.

  UE News

After the conclusion of negotiations Wednesday evening, the membership of Local 1110, more than 200 workers, met in the plant cafeteria to hear and consider the tentative settlement that had been worked out by UE negotiators over the past three days.

The settlement was approved by a unanimous vote.

The settlement totals $1.75 million. It will provide the workers with:

• Eight weeks of pay they are owed under the federal WARN Act,
• Two months of continued health coverage and,
• Pay for all accrued and unused vacation.

JPMorgan Chase will provide $400,000 of the settlement, with the balance coming from Bank of America.

  But  this isn't over yet, my friends. Do to  the support of these workers from all over, the plant may be re-opened.

   Kingsley then announced the creation of a new foundation, dedicated to reopening the plant. It will be initiated with seed money from the UE national union and the thousands of dollars of donations to UE Local 1110's Solidarity Fund that have come in from across the country and around the world in just the past five days.

  One way to help the economy?

Technorati Tags: Republic Windows,Workers,Unions,JPMorgan,UE

CEO Of AIG Says Sales Of Assets May Be Put Off

  I was wondering how long it would take companies such as AIG to blame lower prices on failing to sell these assets.

  News Daily

The CEO of U.S. insurer AIG , which is looking to shed assets around the globe as part of a $152 billion U.S. government rescue package, said that difficult markets may delay the sale plans, though certain units have attracted heavy interest.

  This ass-wipe was in Kong Kong when he made the comments and I wonder, are the Chinese the only people that can afford to buy this stuff up? They have their own economic crisis going but they can still buy the United States up?

At the end of his speech, Liddy answered a question regarding the speed at which AIG would repay the $152 billion.

He said the company has not been loaned that entire amount, rather the federal government has loaned it $40 billion, which could grow to $60 billion. Liddy explained that there are also two financing vehicles.

"They transfer risk and opportunity from those RMBs (residential mortgage backed securities) to the Federal Reserve. I would suspect that the Fed will do very well on those."

  Sure they will, Liddy, and I'm getting a Golden Parachute for Christmas.

Technorati Tags: AIG,Bailout,Wall Street,RMB's,Federal Reserve