WHAT A HEEL: You’ll Get Yours When I Get Mine
The New York Times reports that the 240 Republic Windows and Doors employees who staged a six-day sit-in demanding the 60 days of severance pay due to them under the WARN Act and vacation pay they had earned were as surprised as anyone that instead of being hauled off to jail on trespassing charges, two banks agreed to lend the company enough money to cover its obligations. However, the delicate negotiations almost broke down over Republic CEO Richard Gillman insistence that the bank loan also “cover the lease of several of his cars - a 2007 BMW 350xi and a 2002 Mercedes S500 are among those registered to company addresses - as well as eight weeks of his salary, at $225,000 a year.” Gillman, who eventually caved, explained that he wanted a piece of the action to make up for foregoing a large bonus in 2007.
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