Economic recession news

This CNN video from the USA is called Laid Off Workers Occupy a Factory in Chicago.

The economic crisis continues.

British pound falls to new lows on currency markets: here.

One of Britain’s leading businessmen was forced to resign from the company he founded yesterday for misusing shares valued at £130m: here.

In response to economic crisis, Australian government bolsters “national security”: here.

Turkey hit hard by international finance crisis: here.

USA: Higher education costs soar: here.

The Penn Museum of Archaeology and Anthropology is the latest to be affected by the financial crisis: here.

USA: The Big Bailout: Product of a Flawed Democracy.

In a sign of the mounting social tensions building up in the United States, about 200 recently laid-off workers at Republic Windows and Doors, a Chicago window manufacturer, have occupied their factory: here.

4 thoughts on “Economic recession news

  1. Dear activists and organizers,

    The Bail Out the People Movement [USA] invites you to come together on Jan. 17, 2009 to talk, share and plan to fight back. If there was ever a time for us to recommit ourselves to Dr. King’s struggle for economic and social justice, there can hardly be any doubt that now, 80 years after his birth, is that time.

    The people made history by electing Barack Obama president. Certainly that accomplishment realizes a measure of King’s dream. Yet poverty, racism and war remain a growing part of our reality–especially now, as people’s lives are being devastated by the biggest worldwide economic crisis since the Great Depression of the 1930s.

    In addition to the almost $1 trillion dollars that the U.S. government has wasted on the wars in Iraq and Afghanistan, it plans to spend almost $8 trillion dollars to save the crisis-ridden economic system. Most of this fortune has been given to the big banks. An undetermined yet small percentage of that money is pledged towards an infrastructure renewal project that promises to create jobs. Yet unemployment is rising so fast that the infrastructure renewal proposal is far too little and too distant to have any impact on the depression-level joblessness that we face.

    Given the remarkable scope of the government’s intervention into the financial sector of the economy to shore up the banks, it is shockingly criminal that the government hasn’t declared a moratorium on the evictions and home foreclosures that throw thousands of families onto the streets everyday.

    It is no less shocking that the government has done nothing to stop the waves of cruel budget cuts that are forcing students to quit school, raising public transportation fares, making healthcare even more inaccessible for millions, and pushing more workers onto the unemployment line.

    King devoted the last year of his life planning the beginning of what he considered to be the second phase of the civil rights struggle–for the right of all to a decent paying job, or an income for those unable to work. King realized that this phase of the struggle would be harder, and that because Wall Street holds the real power, no election or president–however historical and inspiring–could be a substitute for organization and mass action in the struggle for economic rights.

    Whether you are an antiwar activist; a union organizer; someone who first became excited about politics because of Obama’s campaign; or someone who is losing a job, a home, the ability to go to school, healthcare, a pension and are ready unite and fight back, let’s come together and determine what we can do during the first 100 days of the new administration and beyond to help give birth to a desperately needed mass struggle to fight for all that people need to survive and thrive.



    During the week of December 8-13
    Organize Protests in Front of Your Local Bank of America Office or Building

    Support the Demands of the Republic Windows and Doors Workers:
    –Management Must Meet with the Workers
    –Workers Must Receive 60 Days Full Pay
    –No Repression Against the Workers; No Attempts to Remove, Arrest or Charge Them

    “We are sending a message to all the workers in America. We will try to keep up the fight and we ask for your support.”
    Vincente Rangel, United Electrical Workers’ Steward and participant in the occupation

    Endorse at
    List Local Action at
    View Local Actions here
    Donate to Bail Out the People Movement at

    About 250 employees of Republic Windows and Doors plant in Chicago, IL began an occupation of the plant on Friday, Dec. 5, the last scheduled day of the plant’s operation. The workers, members of the United Electrical Workers Union Local 1110, were not given the legally mandated 60-day prior notification of the plant’s closing; also the plant’s management and owners did not show up to a meeting with the workers scheduled for Dec. 5.

    The workers decided to occupy the plant. They have vowed to stay in the plant until they receive, at the very least, 60 days pay. The owners say that they had to close because Bank of America refused to extend them any more credit. The Bank of America has received hundreds of billions of dollars over the past three months in bailout money from the government.

    These workers, who are overwhelmingly Latin@ immigrants, have taken a courageous stand by putting their bodies on the line in their fight for the right to feed their families and to be treated with respect and dignity like all human beings. In a way, they are fighting for the rights of all workers who are under attack, whether they are restaurant workers, public employees or auto workers fighting to hold on to their jobs and union.

    We must stand with them.

    To all–no matter what your circumstances are–who are outraged over mass layoffs, home foreclosures and are watching the government spend literally trillions of dollars to bail out banks while doing nothing to stop the massive layoffs and evictions that are beating down working and poor people, take a stand in solidarity with these workers in Chicago. You could be next.

    Jobs at a living wage are a right!

    An appeal issued by Bail Out the People Movement

    Dec. 7, 2008

    Endorse at
    List Local Action at
    Donate to Bail Out the People Movement at

    Local Actions:

    Sun, Dec 7, 10:30 AM Jessie Jackson and Rainbow PUSH deliver turkeys to workers occupying Republic Windows and Doors factory, 1333 N Hickory st. (near corner of Halsted and Division)
    Monday, Dec 8th, 12 noon – Press Conference before UE workers meet with Bank of America and company executives. Supports welcome, bring food and monetary donations.
    Tuesday, Dec 9th, 12 noon – Solidarity action at Bank of America, 231 S. LaSalle, Chicago, IL

    Charlotte, NC:
    Monday, Dec 8th, 12 Noon – Picket at Bank of American national Headquarters to support Republic workers. Corner of Trade St and Tryon in downtown Charlotte. Organized by UE local 150. call Dante Strobino at 919-539-2051 for more info

    Detroit, MI:
    Wednesday, Dec 10 12:00 noon – PROTEST RALLY, WEDS., DEC. 10, 12:00 NOON – BANK OF AMERICA, Guardian Building, Congress at Griswold, downtown Detroit

    additional listings will be posted at as quickly as we get them.

    Bail Out the People Movement
    Solidarity Center
    55 W. 17th St. #5C
    New York, NY 10011




    If you live in the Chicago area, there will be a picket of Bank of America’s Chicago headquarters at 231 S. LaSalle on Tuesday, December 9 at 12 noon (unless negotiations resolve the dispute before then).

    Read updates from the UE about the battle at Republic on the union’s Web site.

    You can send a message of solidarity from the Web site
    Or send you message of solidarity by e-mail to
    For more information, call UE at 312-829-8300.

    The UE is appealing for financial support for the Republic workers. You can contribute via PayPal from the UE home page.
    You can also send checks, made payable to the UE Local 1110 Solidarity Fund, to: 37 S. Ashland, Chicago, IL 60607.

    At the Jobs with Justice Web site, you can send a message of protest to Bank of America.


  4. Pingback: Economic crisis, workers fight back | Dear Kitty. Some blog

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