since the MSM will fail to report and find outrage on this, I will


http://www.suntimes.com/business/1568066...09.article

Quote:Even after Hart Schaffner Marx plant workers in Des Plaines unanimously stood up shouting their approval of staging a sit-in if Wells Fargo presses their parent company to liquidate, Wells Fargo said parent company Hartmarx is unable to repay more than $114 million it owes the bank.

Wells Fargo issued a statement that it has continued to finance operations at Chicago-based men's suitmaker Hartmarx after Hartmarx filed in January for Chapter 11 bankruptcy protection, even though Hartmarx "has been in default of its loan obligations to banks in the group that have provided it credit, including Wachovia Capital Finance, part of Wells Fargo." Hartmarx issued a statement responding, "Since we value the confidentiality of any dealings with our senior lenders, it would be inappropriate and counter-productive to respond to the content of the Wells Fargo statement." Wells Fargo said it wants Hartmarx, which employs 3,000 nationwide and 1,000 in the Chicago area, to stay in business "so we can earn all of their business and help them succeed financially." "We're trying to do whatever we can to keep Hartmarx in business, but it's something they're going to have to work on," a Wells-Fargo spokeswoman said.

..... Hartmarx filed for bankruptcy protection in January after its U.S. creditors pulled its credit lines.

At the Hart Schaffner Marx plant in Des Plaines, union officials with Workers United rallied the 600 workers, who shouted and applauded and stood on their feet in support of a sit-in should Wells Fargo force Hartmarx's liquidation.

..... Longtime labor leader Bruce Raynor, who shouted out the message, "We're not afraid of Wells Fargo," said labor leaders chose Hartmarx's plant outside of Chicago for the sit-in action because Hartmarx is headquartered here and because Illinois "has given us" President Barack Obama, who regularly wears Hart Schaffner Marx suits.

U.S. Rep. Phil Hare, D-Ill., who spent 13 years cutting the linings for men's suits at at Hartmarx plant, said he had called White House Chief of Staff Rahm Emanuel to try to get President Obama to talk with Wells Fargo's chairman of the board.

Hare said that though Wells-Fargo claimed it never asked for the $25 billion in federal bailout money it received, "I told the bank, 'I didn't see you running down Pennsylvania Avenue trying to give the money back.'" State Treasurer Alexi Giannoulias, who last week threatened to drop Wells Fargo as his office's money custodian and to take the bank off its list of preferred vendors if it pressed Hartmarx into liquidation, said Monday he will encourage other states in which Hartmarx plants are located to do the same.

Des Plaines Mayor Martin J. Moylan, whose city received $63,626 in property tax revenue and $47,860 in utility revenue in fiscal 2008 from the Hart Schaffner Marx plant, wrote a letter to President Obama seeking Obama's intervention.

Giannoulias is an Obama crony from way back to his Community Organizing days, whose family owns its own little Chicago bank...which has a questionable Chicago only history.


Obama's suit maker is going belly up, its Creditors attempt to pull their credit lines and are rewarded with a Union Led campaign to force them to make bad moves for all of us.

(05-13-2009 10:50 AM)GGniner Wrote:  since the MSM will fail to report and find outrage on this, I will


http://www.suntimes.com/business/1568066...09.article

Quote:Even after Hart Schaffner Marx plant workers in Des Plaines unanimously stood up shouting their approval of staging a sit-in if Wells Fargo presses their parent company to liquidate, Wells Fargo said parent company Hartmarx is unable to repay more than $114 million it owes the bank.

Wells Fargo issued a statement that it has continued to finance operations at Chicago-based men's suitmaker Hartmarx after Hartmarx filed in January for Chapter 11 bankruptcy protection, even though Hartmarx "has been in default of its loan obligations to banks in the group that have provided it credit, including Wachovia Capital Finance, part of Wells Fargo." Hartmarx issued a statement responding, "Since we value the confidentiality of any dealings with our senior lenders, it would be inappropriate and counter-productive to respond to the content of the Wells Fargo statement." Wells Fargo said it wants Hartmarx, which employs 3,000 nationwide and 1,000 in the Chicago area, to stay in business "so we can earn all of their business and help them succeed financially." "We're trying to do whatever we can to keep Hartmarx in business, but it's something they're going to have to work on," a Wells-Fargo spokeswoman said.

..... Hartmarx filed for bankruptcy protection in January after its U.S. creditors pulled its credit lines.

At the Hart Schaffner Marx plant in Des Plaines, union officials with Workers United rallied the 600 workers, who shouted and applauded and stood on their feet in support of a sit-in should Wells Fargo force Hartmarx's liquidation.

..... Longtime labor leader Bruce Raynor, who shouted out the message, "We're not afraid of Wells Fargo," said labor leaders chose Hartmarx's plant outside of Chicago for the sit-in action because Hartmarx is headquartered here and because Illinois "has given us" President Barack Obama, who regularly wears Hart Schaffner Marx suits.

U.S. Rep. Phil Hare, D-Ill., who spent 13 years cutting the linings for men's suits at at Hartmarx plant, said he had called White House Chief of Staff Rahm Emanuel to try to get President Obama to talk with Wells Fargo's chairman of the board.

Hare said that though Wells-Fargo claimed it never asked for the $25 billion in federal bailout money it received, "I told the bank, 'I didn't see you running down Pennsylvania Avenue trying to give the money back.'" State Treasurer Alexi Giannoulias, who last week threatened to drop Wells Fargo as his office's money custodian and to take the bank off its list of preferred vendors if it pressed Hartmarx into liquidation, said Monday he will encourage other states in which Hartmarx plants are located to do the same.

Des Plaines Mayor Martin J. Moylan, whose city received $63,626 in property tax revenue and $47,860 in utility revenue in fiscal 2008 from the Hart Schaffner Marx plant, wrote a letter to President Obama seeking Obama's intervention.

Giannoulias is an Obama crony from way back to his Community Organizing days, whose family owns its own little Chicago bank...which has a questionable Chicago only history.


Obama's suit maker is going belly up, its Creditors attempt to pull their credit lines and are rewarded with a Union Led campaign to force them to make bad moves for all of us.

From what I have heard, there were 2 legit offers to buy the company and they were both denied by WF. Oh, cut the crap with the Union ****. I know there are a lot of illegals in Chicago and it would be cheaper for them to make the suits but something tells me getting little Jose to make the suit is not a good quality move.

(05-13-2009 12:27 PM)RobertN Wrote:  From what I have heard, there were 2 legit offers to buy the company and they were both denied by WF. Oh, cut the crap with the Union ****. I know there are a lot of illegals in Chicago and it would be cheaper for them to make the suits but something tells me getting little Jose to make the suit is not a good quality move.

Racist.

.

NAH !!!!!!

Little-god will simply Overthrow and pull a Hostile Takeover of the Clothing/Textile Industry and "Socialize It" like he is Socializing every other 'Free Enterprise / Free Market Entity' and be the CEO/CFO of the Suit Making World.

Boy old Hussein is going to have one heck of a CEO Resume when he gets run out of Office in a couple of years.

Not many people can honestly claim to be CEO of 20 or 30 Diverse Types of Corporations all at the same time !!!!!

My wittle heerow !!!!!!!

.

(05-13-2009 12:40 PM)Paul M Wrote:  

(05-13-2009 12:27 PM)RobertN Wrote:  From what I have heard, there were 2 legit offers to buy the company and they were both denied by WF. Oh, cut the crap with the Union ****. I know there are a lot of illegals in Chicago and it would be cheaper for them to make the suits but something tells me getting little Jose to make the suit is not a good quality move.

Racist.

*******.

the entire economic mess summarized in a nutshell: Banks being forced to loan funds against there will

(05-13-2009 12:55 PM)Tripster Wrote:  .

NAH !!!!!!

Little-god will simply Overthrow and pull a Hostile Takeover of the Clothing/Textile Industry and "Socialize It" like he is Socializing every other 'Free Enterprise / Free Market Entity' and be the CEO/CFO of the Suit Making World.

Boy old Hussein is going to have one heck of a CEO Resume when he gets run out of Office in a couple of years.

Not many people can honestly claim to be CEO of 20 or 30 Diverse Types of Corporations all at the same time !!!!!

My wittle heerow !!!!!!!

.

Whatever. You are just scared because Obama is getting things done and the economy is getting better. Those are the last 2 nails in the Republican coffin.

(05-13-2009 01:05 PM)RobertN Wrote:  Whatever. You are just scared because Obama is getting things done and the economy is getting better.

Getting things done? I guess.

Economy getting better? How do you figure?

(05-13-2009 12:59 PM)GGniner Wrote:  the entire economic mess summarized in a nutshell: Banks being forced to loan funds against there will

I think that's a very large component of it. There seem to have been some financial instruments that were largely fraudulent, and that there is a legitimate argument for placing under increased regulation. On the whole, unjustifiable regulation seems to be at least as big a problem as the lack of it.

yeah, one of the areas that lacked regs. was the Derivatives that AIG created, which turned the mortgage problem into a Multi-Trillion problem, and has caused so much chaos.

that said, they wouldn't have blown up so bad if the banks hadn't been forced by the Govt. to loan money to people they wouldn't have otherwise, by force.

(05-13-2009 01:27 PM)DrTorch Wrote:  

(05-13-2009 01:05 PM)RobertN Wrote:  Whatever. You are just scared because Obama is getting things done and the economy is getting better.

Getting things done? I guess.

There's no doubt that things are getting done :rolltide:, but the operative question is to whom?

I have three Hart Schaffner Marx Golden Trumpeter suits and they hold up a hell of a lot better than the Hickey Freeman and Brooks Brothers suits that I own.


They make a quality product.

(05-13-2009 01:05 PM)RobertN Wrote:  Whatever. You are just scared because Obama is getting things done and the economy is getting better. Those are the last 2 nails in the Republican coffin.

Yes Robert, "He Surely 'IS' Getting Things Done" ....

.