{"id":5990,"date":"2008-12-09T08:19:57","date_gmt":"2008-12-09T15:19:57","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=5990"},"modified":"2008-12-09T08:19:57","modified_gmt":"2008-12-09T15:19:57","slug":"the-tangled-web-of-tarp","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5990\/the-tangled-web-of-tarp\/","title":{"rendered":"The Tangled Web of TARP"},"content":{"rendered":"

It’s deja vu, all over again.<\/p>\n

Republic Window and Door announced it would be closing its doors next month<\/a>.\u00a0\u00a0 Republic lost over $5 million YTD and $12 million in 2006 and 2007.\u00a0 Bank of America suspended its line of credit.\u00a0 Faced with the prospect of going it without any money, Republic rolled over and died.<\/p>\n

Workers at the soon to be defunct Republic Windows and Door are staging a 60’s-style sit in to recoup some of their lost vacation and severance pay<\/a>.\u00a0\u00a0 The union demands that the Company make good on its promise to its workers.\u00a0 Remember, the Company wasn’t bailed out; it lost close to $18 million in the past three years and light isn’t appearing at the end of the tunnel.\u00a0 President-Elect Obama supports the union’s effort.<\/a><\/p>\n

Federally-detained<\/a> Illinois Governor Rod Blagojevich and State Treasurer Alexi Giannoulias fired a shot across BofA’s bow, threatening to suspend State business with the Bank<\/a>.<\/p>\n

Illinois Governor Rod Blagojevich<\/a> said the state will suspend business with Bank of America Corp.<\/a> until the lender restores credit to the shuttered Republic Windows & Doors company in Chicago where workers are staging a sit-in. <\/em><\/p>\n

Blagojevich, a Democrat, spoke at a news conference today after meeting with employees who remained at the factory since Dec. 5, when it closed following the bank\u2019s cancellation of its credit line. Illinois does \u201chundreds of millions of dollars\u201d in business with the bank, he said. The Illinois Department of Labor will sue the manufacturer if Republic doesn\u2019t respond to employee requests for vacation and severance pay, the governor said in a press release. <\/em><\/p><\/blockquote>\n

Cook County Commmissioner Mike Quigley follows suit<\/a>:<\/p>\n

Cook County Commissioner Mike Quigley will introduce an ordinance to block the state\u2019s biggest county from doing business with Bank of America, he said in an interview. <\/em><\/p>\n

\u201cI\u2019m usually cautious, but this is an extraordinary example at an extraordinary time,\u201d Quigley said. \u201cWhen you talk theory, they nod and wink, but when you put in an ordinance, they know you are serious.\u201d<\/em><\/p><\/blockquote>\n

Should the Bank be able to cut its losses and focus on less risky lending practices?\u00a0 Not if it receives TARP funds figure the Cook Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It’s deja vu, all over again. Republic Window and Door announced it would be closing its doors next month.\u00a0\u00a0 Republic lost over $5 million YTD and $12 million in 2006 and 2007.\u00a0 Bank of America suspended its line of credit.\u00a0 Faced with the prospect of going it without any money, Republic rolled over and died. […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-5990","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":47,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/47\/corporate-welfare-in-phoenix\/","url_meta":{"origin":5990,"position":0},"title":"Corporate welfare in Phoenix","author":"Odysseus","date":"January 25, 2006","format":false,"excerpt":"The Arizona Republic brings us another glowing puff piece on the beauty, the splendor, the wonder, the power and the glory of the forthcoming Trolley system:Funny thing about \"knowledge workers\": They don't like to drive. That's one of the reasons Thomas Gorny decided on a site along the future light-rail\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/36\/an-open-letter-to-ken-western-editor-of-the-editorial-pages-of-the-arizona-republic\/","url_meta":{"origin":5990,"position":1},"title":"An open letter to Ken Western, Editor of the Editorial Pages of the Arizona Republic","author":"Odysseus","date":"January 1, 2006","format":false,"excerpt":"Mr. Western, Regarding your New Year's Resolution to improve the opinion pages of the Republic, is it possible to petition for a more balanced coverage of the forthcoming City of Phoenix bond issue? From my point of view--and you probably disagree--the Republic is a tireless cheerleader for all of the--to\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7712,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7712\/at-last-the-peoples-republic-of-obamistan-has-an-answer-for-the-yugo\/","url_meta":{"origin":5990,"position":2},"title":"At last, the Peoples’ Republic of Obamistan has an answer for the Yugo","author":"Greg Swann","date":"April 7, 2009","format":false,"excerpt":"It's like a motorcycle, but without the pick-up or maneuverability. Or economy. Or range. Or sex-appeal. I want mine with the Vook option!","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/53\/an-open-letter-to-catherine-reagor-and-glen-creno-of-the-arizona-republic\/","url_meta":{"origin":5990,"position":3},"title":"An open letter to Catherine Reagor and Glen Creno of the Arizona Republic","author":"Odysseus","date":"February 20, 2006","format":false,"excerpt":"First, Catherine, congratulations on your new column. Hard work pays off. Second, I would dearly love it if both of you would bring some perspective to your writing. For example, from Catherine's new column:What this year holds is the multibillion-dollar question. A 10 percent drop in home building or sales\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":480,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/480\/smaller-lot-sizes-it-lets-the-builder-provide-a-finished-home-at-a-lower-overall-cost\/","url_meta":{"origin":5990,"position":4},"title":"Smaller lot sizes: “It lets the builder provide a finished home at a lower overall cost.”","author":"Greg Swann","date":"September 27, 2006","format":false,"excerpt":"This morning brings a very thorough story by Betty Beard in the Arizona Republic about shrinking lot sizes. For my money, Betty Beard is the best and least tendentious real estate reporter at the Republic. Technorati Tags: arizona, arizona real estate, phoenix, phoenix real estate, real estate, real estate marketing","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1329,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1329\/arizona-republic-realtors-side-with-zillowcom\/","url_meta":{"origin":5990,"position":5},"title":"Arizona Republic: Realtors side with Zillow.com","author":"Greg Swann","date":"April 21, 2007","format":false,"excerpt":"The Phoenix RE.net is heard from in a big way in an article that will appear in Sunday's Arizona Republic about the State of Arizona's attempts to stifle Zillow.com. Writes reporter Peter Corbett:A state agency's efforts to stop Zillow.com from offering property-value estimates in Arizona are drawing criticism from some\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=5990"}],"version-history":[{"count":2,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5990\/revisions"}],"predecessor-version":[{"id":5992,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5990\/revisions\/5992"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=5990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=5990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=5990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}