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Bank Offers $400,000 in Factory Sit-In

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Another creditor is offering money to help compensate some 240 laid-off employees of a Chicago window factory. A six-day sit-in there has fed criticism that the nation’s financial rescue isn’t helping working people.

Republic Windows and Doors closing abruptly last week. Federal law requires 60 days’ notice before a mass layoff. The employees’ union says lost hours, health insurance and vacation time for the workers would total more than a million dollars.

The company has blamed the plant closing on one of its creditors, Bank of America. Yesterday the bank said it’s willing to extend credit.

Now Congressman Luis Gutiérrez says another bank, JP Morgan Chase, has pledged $400,000 for the workers. Chase declined to confirm that information, but a spokesman says the company did attend a negotiating session yesterday.

The union says important details remain unresolved and that any agreement would go before the workers for a vote.

I’m Chip Mitchell, Chicago Public Radio.

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