....about politics today. Recently Republic Windows and Doors of Chicago declared bankruptcy due to their bank's refusal to extend credit, and now there is apparently a firestorm about what happens to the severance and vacation pay owed employees. Even President-elect Obama is feeling obliged to weigh on on the controversy.
And it says a lot about our society that there is a demonstration over this; reality is that in bankruptcy court, wages and such are among the first things to be paid, and if a company doesn't maintain funds to cover vacation and severance pay owed, that's warrant for putting the company's officers in jail. No need to demonstrate; just talk to the DA and the bankruptcy court, and things will get done.
It also says a lot that one of the displaced workers is worried about making a $1800/month mortgage payment. What kind of person told an immigrant worker (she was interviewed in Spanish) that she could afford such a home? What kind of math skills did it take for her to accept such a loan?
For those who will learn, there are a lot of lessons here.
This Is My Town, Sparky - Thursday evening, I decided to walk down to Snelling Avenue to check out the situation. I saw broken glass at Lloyd’s Pharmacy, at the corner of Snelling a...
17 hours ago