Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Factory Sit-In Ends in Victory

Workers win severance and benefits

By Peter Fearon, Newser Staff

Posted Dec 11, 2008 2:44 AM CST

(Newser) – Laid-off workers who occupied a Chicago factory have agreed to end their sit-in after winning severence pay and benefits, Reuters reports. Each of the 200 workers at shuttered Republic Windows and Doors will receive two months pay, accrued vacation and two months health care coverage.... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

Reuters (Source Grid »)

JP Morgan Chase pledges $400K to help factory workers
Chicago Sun-Times

Workers in sit-in win $1.75M deal
USA Today

US • Money

Wall Street • Chicago • Bank of America • bailout • JPMorgan Chase • Main Street • financial crisis • Republic Windows and Doors • Rep. Luis Gutierrez • severance pay • lay-offs

More Newser Stories

US Banks Paid Employees Record $145B in 2009

Haul breaks mark set in pre-bust 2007

(NEWSER) - Employees at the major US banks were paid about $145 billion in 2009—a total that, despite the financial crisis and public outcry over compensation in the industry—breaks a record set in pre-bust 2007. A Wall Street Journal analysis finds that 2009 revenue will be $450 billion, up 25% from ’07; pay should be about 32% of revenue, down from 40% in ’08. More»

US Banks Hiring Again After Layoffs, Bailouts

But headhunting 'selective,' notes banker

(NEWSER) - After cutting thousands of jobs over the past two years, American banks are rushing to fill them again as business picks up, Reuters reports. “Back in March and April, no one really knew if the investment banking business was going to exist again," said a search firm exec. "The world has changed dramatically in the last four to five months and now banks are hiring." More»

Feds Let Lehman Fail—Then Loaned It $138B Anyway

Paulson & Co. say cash was to 'facilitate orderly wind-down' of trades, but questions persist

(NEWSER) - After refusing to bail out Lehman Brothers, the Federal Reserve funneled $87 billion to a subsidiary through JPMorgan Chase on Sept. 15, then another $51 billion the next day. The feds say they aimed to “facilitate an orderly wind-down” of Lehman’s broker-dealer operations, Andrew Ross Sorkin writes in the New York Times, but their changing explanations, and other issues, continue to muddy the waters. More»

Bank Woes Push Dow Down 196

JPMorgan Chase, Bank of America, Citigroup all see big drops

(NEWSER) - The markets slid today as JP Morgan’s CEO made pessimistic comments about home prices, the Wall Street Journal reports. Adding to investor malaise was a Labor Department report that unemployment insurance claims are at a 26-year high, and continued uncertainty about the Detroit bailout. The Dow was down 196.33, to 8,565.09; the Nasdaq was off 57.60, to 1,507.88; and the S&P lost 25.65, to 873.59. More»

JPMorgan to Pay Chicago Protesters

Creditors respond to sit-in with loans, severance offer

(NEWSER) - JPMorgan will pay $400,000 toward the severance for 240 laid-off workers occupying a Chicago factory, and Bank of America will extend the bankrupt manufacturer a new loan, Reuters reports. Both banks are creditors of Republic Windows & Doors, which shut down after, BOA says, it "maxed out" on credit. The workers' strife symbolizes growing frustration that the bailout hasn't loosened credit for ailing businesses. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Factory Sit-In Ends in Victory

Workers win severance and benefits

Wall Street • Chicago • Bank of America • bailout • JPMorgan Chase • Main Street • financial crisis • Republic Windows and Doors • Rep. Luis Gutierrez • severance pay • lay-offs

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

US Banks Paid Employees Record $145B in 2009

Haul breaks mark set in pre-bust 2007

US Banks Hiring Again After Layoffs, Bailouts

But headhunting 'selective,' notes banker

Feds Let Lehman Fail—Then Loaned It $138B Anyway

Paulson & Co. say cash was to 'facilitate orderly wind-down' of trades, but questions persist

Bank Woes Push Dow Down 196

JPMorgan Chase, Bank of America, Citigroup all see big drops

JPMorgan to Pay Chicago Protesters

Creditors respond to sit-in with loans, severance offer

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?