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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: alanrs who wrote (283432)	12/8/2008 6:10:42 PM
From: steve harris	Respond to of 794337

I think we're watching how the Soviet Union came to be and collapsed...

To: alanrs who wrote (283432)	12/8/2008 6:59:16 PM
From: Neeka	Respond to of 794337

They're not going to own it. Bank of America Issues Statement Regarding Republic Windows and Doors Last update: 4:31 p.m. EST Dec. 8, 2008 CHICAGO, Dec 08, 2008 /PRNewswire via COMTEX/ -- Bank of America today issued the following statement regarding Republic Windows and Doors: "We agree with the statements of public officials that Republic Windows and Doors should do all it can to honor its obligations to its employees and minimize the impact of failure on those employees. We are reaching out to the management and ownership of the company to see what they can do to help resolve this issue. As a creditor of the company, we continue to honor all of our agreements with the company and have provided the maximum amount of funding we can under the terms of our agreement. By any objective measure, Republic Windows and Doors is unable to operate profitably given the challenges of the current economic climate and its industry. Public statements by management of the company have made this clear. When a company faces such a dire situation, its lender is not empowered to direct the company's management how to manage its affairs and what obligations should be paid. Such decisions belong to the management and owners of the company. Bank of America has worked with the company and shared our concerns about the company's situation and its operations for the past several months. It is unfortunate that the company has been unable to reverse its declining circumstances." Bank of America Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,000 ATMs and award-winning online banking with more than 25 million active users. Bank of America offers industry leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (BAC: bank of america corporation com marketwatch.com{B8500097-C33C-4F71-B890-F0C1E841BF21}