I Told You So

I am taking personal responsibility for the Republic Windows, Bank of America, Labor Sit-In Resolution. (OK, not really, but I’d like to think it was because of me.)

In an earlier post, I wrote about how B of A was shooting itself in the foot by not helping out the laid-off workers. In that post, I estimated,  based on easily-available information one can find in ten seconds on the web, that it would have set back Bank of America about $1.6M to resolve the problem and to get millions of dollars in positive publicity.

The resolution

In today’s new,  Republic Windows and Doors workers win $1.75 million.  David Rudis, the bank’s Illinois president, said in a statement, “Although we are a lender with no obligation to pay Republic’s employees or make additional loans to Republic, we agreed to extend an additional loan to be used exclusively to pay its employees.” This is very similar to how I suggested it be handled.

Kudos to B of A for getting this right. However, how much smarter would it have been if they had just done this in the first place?

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~ by scottqmarcus on December 12, 2008.

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