DC Tom Posted December 8, 2008 Share Posted December 8, 2008 Cash is tight at year end at my business. Who can I sue? I'm thinking of boycotting McDonalds until they pay my salary. They're sitting on a pile of dough. Link to comment Share on other sites More sharing options...
Steely Dan Posted December 8, 2008 Share Posted December 8, 2008 It's to provide the funds to pay the workers who are legally entitled to severence pay since the company of over 200 workers didn't give sufficient notice that they were closing. Federal law requires either 60 days' notice or 60 days' pay for the laid-off workers. Bank of America cut off credit to the company, so they don't have the funds to pay the workers. Yet the bank received $25 billion in taxpayer funds as part of the U.S. Treasury's efforts to stabilize the financial markets. How about withholding that money from BoA and see how they like it when someone tells them tough luck, you're on your own. I'm not sure it's BOA's responsibility but if the government has to bail out these workers then it's kind of 6 of 1 half a dozen of another. Yeah, I kind-of figured that someone would try to argue that because BoA got federal money, they now had an obligation to give that money away. Because the easiest and quickest way to stabilize the financial markets is to loan money to people who have absolutely no chance of paying it back. Let's just start writing jumbo IO ARM mortgages against McMansions for low-income buyers again while we're at it. What's your solution? There's a minor flaw in your outrage. The "workers" don't work for BoA, but for Republic. It's not BoA's fault Republic doesn't have 60 days' of cash to pay its employees? May as well blame Ralph Wilson for having a December game in Toronto against Dolphins. They had to see what was coming and closed down when they had 60 days of pay left for the employees. As I said above I don't think it's BOA's responsibility but someone has to help these workers. Who are they going to sue for their money? Link to comment Share on other sites More sharing options...
DC Tom Posted December 8, 2008 Share Posted December 8, 2008 What's your solution? Don't know. There may not be one. If the company is well-and-truly shut down, their assets should be auctioned off and the proceeds applied to their liabilites in descending order of priority, of which payroll is the highest. If the laid-of workers are entitled to their money, then they're entitled...and before anyone else (save current workers). Just not from BoA. Or any other creditor of that company. Link to comment Share on other sites More sharing options...
GG Posted December 8, 2008 Share Posted December 8, 2008 Who are they going to sue for their money? Who do you sue when a broke uninsured driver smashes your car? And this case doesn't even touch the legality of bankruptcies. You're all crying about the employees. What about other vendors who sold products to Republic and now won't get paid. What about their employees? Who should they go after? JP Morgan? Link to comment Share on other sites More sharing options...
KD in CA Posted December 8, 2008 Share Posted December 8, 2008 I thought it was a state requirement .... in any event, employers do have to notify the govt (usually the state labor / workforce agency) depending on the # employees. That's why sometimes companies will lay off in smaller waves, so they are under the radar. Different states have different rules about notification required for layoffs that exceed a certain % of the workforce. But sixty days notice to the state of the intent to lay people off is not the same thing as 60 days paid severance to those employees. There is no such severance requirement that I have heard of and no business in their right mind would ever pay that much severance if the reason they were laying off people was because they were running out of money! The state is within its rights to penalize the employer for failure to provide notice, but that doesn't necessarily mean that the workers are going to benefit. And as has been pointed out, it's quite absurd to think BoA should be required to hand cash to an enterprise that is clearly going under. Isn't that how we got here in the first place? Link to comment Share on other sites More sharing options...
RI Bills Fan Posted December 8, 2008 Share Posted December 8, 2008 This Article provides some interesting perspective and raises more than a few questions about who's F'ing who in this situation... Link to comment Share on other sites More sharing options...
Steely Dan Posted December 8, 2008 Share Posted December 8, 2008 Who do you sue when a broke uninsured driver smashes your car? And this case doesn't even touch the legality of bankruptcies. You're all crying about the employees. What about other vendors who sold products to Republic and now won't get paid. What about their employees? Who should they go after? JP Morgan? There is no question in my mind now that you are the biggest on this board. Do you have an ounce of humanity in your soul? Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted December 8, 2008 Share Posted December 8, 2008 Who do you sue when a broke uninsured driver smashes your car? Your insurance company should take care of you. Isn't that the reason I HAVE to pay for unisured motorists on my policy? Weren't there protections put in place?... Just like with pensions... Oh, wait... Link to comment Share on other sites More sharing options...
GG Posted December 8, 2008 Share Posted December 8, 2008 There is no question in my mind now that you are the biggest on this board. Do you have an ounce of humanity in your soul? There's no question that you're the biggest buffoon, since you can't even read. Yeah, sorry about worrying about employees of other companies just because they didn't get the press coverage. Do you even understand that? If Republic shuts down its doors, chances are that its vendors won't get paid either. You know, the local cleaning companies, the food workers, etc. But hey, the union employees are much more valuable human beings. Right? Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted December 8, 2008 Share Posted December 8, 2008 So... These people are caught in the middle... Low man on the totem. Don't worry... It will get worse and things will come to a head. Link to comment Share on other sites More sharing options...
KD in CA Posted December 8, 2008 Share Posted December 8, 2008 This Article provides some interesting perspective and raises more than a few questions about who's F'ing who in this situation... Management might be a little shady, no way to tell at this point. But nothing said there lends any credence to the anti-BoA stance taken by the idiots and opportunists. Link to comment Share on other sites More sharing options...
KD in CA Posted December 8, 2008 Share Posted December 8, 2008 There is no question in my mind now that you are the biggest on this board. Do you have an ounce of humanity in your soul? Even for you this is a really stupid post. Go back and re-read what he wrote and at least attempt to understand. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted December 8, 2008 Share Posted December 8, 2008 Management might be a little shady, no way to tell at this point. But nothing said there lends any credence to the anti-BoA stance taken by the idiots and opportunists. Yep... You can call me an idiot, but that (blue) is a page I can get on! What is wrong with being an opportunist? What? Now it is "dishonorable" to think that way. People should wisen up and learn that the ship is sinking... Every person for themself! If anything about this mess that people should learn... It is PAY YOURSELF FIRST! Link to comment Share on other sites More sharing options...
Steely Dan Posted December 8, 2008 Share Posted December 8, 2008 There's no question that you're the biggest buffoon, since you can't even read. Yeah, sorry about worrying about employees of other companies just because they didn't get the press coverage. Do you even understand that? If Republic shuts down its doors, chances are that its vendors won't get paid either. You know, the local cleaning companies, the food workers, etc. But hey, the union employees are much more valuable human beings. Right? Where have you heard that any other companies associated with RWD are suffering? Find me a company that is laying people off due to this closing and I'll see how big of an effect it's having on them and decide if it's worse than this companies. Those companies will get something once the assets are sold off but these people can't wait that long for their money. Get it! You have always been on the side of business and against anyone else. I don't think it's a big assumption to believe you really don't care about the people affected by this. Tell me what should be done to see these people through the rest of the month? Link to comment Share on other sites More sharing options...
KD in CA Posted December 8, 2008 Share Posted December 8, 2008 Yep... You can call me an idiot, but that (blue) is a page I can get on! What is wrong with being an opportunist? What? Now it is "dishonorable" to think that way. People should wisen up and learn that the ship is sinking... Every person for themself! If anything about this mess that people should learn... It is PAY YOURSELF FIRST! Why do I always feel like I should have dropped acid before attempting to decipher your posts? Actually I was referring to the politicians who know better, but rather than explaining it to people instead add to the idiocy by jumping onto the "evil banks are hurting the workers!!" line just to curry favor with the ignorant masses. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted December 8, 2008 Share Posted December 8, 2008 Where have you heard that any other companies associated with RWD are suffering? Find me a company that is laying people off due to this closing and I'll see how big of an effect it's having on them and decide if it's worse than this companies. Those companies will get something once the assets are sold off but these people can't wait that long for their money. Get it! You have always been on the side of business and against anyone else. I don't think it's a big assumption to believe you really don't care about the people affected by this. Tell me what should be done to see these people through the rest of the month? You know what the moneymen or people like that will tell you to do? "Take a flyin' phuck at a rolling donut." That is why... The big lesson is always TAKE CARE OF YOURSELF FIRST. Do the same thing they will tell you when the bills come due... People need to protect their assets and their place to live first and foremost... Anybody else that can't physically put the screws to you on where you live and what you need to eat has to wait. Link to comment Share on other sites More sharing options...
GG Posted December 8, 2008 Share Posted December 8, 2008 Where have you heard that any other companies associated with RWD are suffering? Find me a company that is laying people off due to this closing and I'll see how big of an effect it's having on them and decide if it's worse than this companies. Those companies will get something once the assets are sold off but these people can't wait that long for their money. Get it! You have always been on the side of business and against anyone else. I don't think it's a big assumption to believe you really don't care about the people affected by this. Tell me what should be done to see these people through the rest of the month? Are you as much of that tool as your name indicates? That's why I said you're not "worrying about employees of other companies just because they didn't get the press coverage." That's why you haven't heard of it, because nothing is being reported. But it doesn't mean that it won't lead to layoffs or closing of a small shop whose business was largely reliant on Republic. Not big nameless companies, which tools like you latch onto, but a small accountant, cleaning guy, or a local software developer. I guarantee you that a company of Republic's size will have $$ millions of unpaid bills, with hundreds of thousands due to people other than the banks. But a bleeding heart retard will just latch on to a story because the union got press coverage. How about examining the root cause? I don't know if I recall a situation where a company of Republic's size closed down so fast. I'm also guessing that they knew the end was coming. Don't know if they tried to work with the union before hand or not. But the union's actions surely tell me that there's a lot more than what you're reading in the press. But you can feel good about yourself because you've done a good deed for the day and felt good about the common man, while kicking another commoner who you haven't heard about to the ground. Yeay, progressives. Link to comment Share on other sites More sharing options...
KD in CA Posted December 8, 2008 Share Posted December 8, 2008 Where have you heard that any other companies associated with RWD are suffering? Find me a company that is laying people off due to this closing and I'll see how big of an effect it's having on them and decide if it's worse than this companies. What is so special about these people and this particular business failure? How are they any different than the half million others who lost jobs last month? Newsflash: BoA didn't give any of those companies extra money either. Tell me what should be done to see these people through the rest of the month? How about this? Link to comment Share on other sites More sharing options...
blzrul Posted December 8, 2008 Share Posted December 8, 2008 Different states have different rules about notification required for layoffs that exceed a certain % of the workforce. But sixty days notice to the state of the intent to lay people off is not the same thing as 60 days paid severance to those employees. There is no such severance requirement that I have heard of and no business in their right mind would ever pay that much severance if the reason they were laying off people was because they were running out of money! The state is within its rights to penalize the employer for failure to provide notice, but that doesn't necessarily mean that the workers are going to benefit. And as has been pointed out, it's quite absurd to think BoA should be required to hand cash to an enterprise that is clearly going under. Isn't that how we got here in the first place? I don't know if there was a policy in place, or a state law, that dictates the severance. The workers are most upset that the company CONCEALED their intent to close from them and then literally pulled the rug out from under them with 3 days' notice. The workers' claims should be included with the creditors' .... and if this were a Christian country, one would want to see those claims at the TOP of the list, and not the bottom of the list. Regarding BofA - I think the issue here is that the company said it's the Bank who froze them, therefore making it impossible to honor their commitment...this somewhat implies that they're acknowleding a commitment. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted December 8, 2008 Share Posted December 8, 2008 Why do I always feel like I should have dropped acid before attempting to decipher your posts? Actually I was referring to the politicians who know better, but rather than explaining it to people instead add to the idiocy by jumping onto the "evil banks are hurting the workers!!" line just to curry favor with the ignorant masses. Hey... Time will tell what will happen. I am not just currying favor... I may just be one of the "ignorant masses" that comes a calling someday. If it is going to be survival of the fittest out there... There is no way I am going to perish. I mean... You do admit that something will have to be done in our society to get people off the "apathetic couch" and not just sit there and take it. Maybe the politicians aren't that dumb by deflecting the heat away from them. Now by no means am I advocating civil unrest... But, it sure the hell seems we are heading in that direction. Oh... And do another tab of yellow sunshine for me! Link to comment Share on other sites More sharing options...
Recommended Posts