• Sep 24th 2010 at 10:28AM
  • 62
The United Auto Workers and some religious leaders are calling for a widespread boycott of JP Morgan Chase financial services. According to The Detroit News, UAW President Bob King has called on individuals to withdraw their money from Chase accounts and cancel their Chase credit cards. Likewise, King has threatened to withdraw all UAW funds from the institution. The reason? King wants the bank to put a two-year freeze on foreclosures in Michigan. King, farm union leader Baldemar Velazquez and two religious leaders are planning to hold a conference today in Detroit to announce the boycott.

According to the DetNews, Chase, was one of the first financial institutions to try to work with borrowers to help them keep their homes. The company opened up loan counseling centers all over Michigan, including two in Detroit, and modified over 900,000 loans to keep homeowners under roof.

The Detroit News also says that the organizers of the boycott are critical of Chase's close ties to RJ Reynolds Group, a tobacco manufacturer that has not negotiated with the Farm Labor Organizing Committee for better pay and working conditions.

[Source: The Detroit News | Image: Bill Pugliano/Getty]

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    • 1 Second Ago
      • 5 Years Ago
      "UAW President Bob King has called on individuals to withdraw their money from Chase accounts and cancel their Chase credit cards. Likewise, King has threatened to withdraw all UAW funds from the institution."

      So what King is saying is "you go first, we'll be right behind you."? Way to be a leader King.
        • 5 Years Ago
        You noticed that too. Nice guy huh?
        Unions....don't get me started.
      • 5 Years Ago
      Screw all unions. There, i said it.
      • 5 Years Ago
      Each change of hands for the UAW just keeps getting worse!
        • 5 Years Ago
        Yep ...Democrat party appointees
      • 5 Years Ago
      This is typical of the leftist victim mentality. The unions and the leftist/progressives they promote played a large part in creating a hostile environment for companies to do business in Michigan. When the companies respond by cutting workforce, leaving for cheaper areas in the US, or to other countries to stay in business, the leftist unions look for someone else to blame. Never themselves of course, since they are only looking out for the "Little Guy." In response to this, and under political pressure, JP Morgan Chase may actually cave and allow MI residents to live in those houses for 2 years for "Free" JP Morgan, not being stupid, will ask their friends in Govt. (More leftists) for a bailout to cover the huge loss they are taking. The UAW, the pot smoking out of work union workers going rent free for awhile, the Michigan Govt. and the Feds, along with JP Morgan will all feel good about themselves for awhile (until the next scam) and the national debt, and debt for actual taxpayers in the rest of the country just continues to grow,..... Ahh the fun.
      • 5 Years Ago

      Ugggghhhhhhhhhhhh. Go away.
      • 5 Years Ago
      I'm sorry, but I refuse to pay for Michigan's pathetic mismanagement of its affairs. It's a tragedy that so many people in the state face foreclosure but the fact that Michigan's unemployement is in the mid-20's is the state government's fault, not Citi's.

      It seems that Michigan's government decided to raise taxes, not lower them, when companies started closing down manufacturing facilities. Whether they were trying to make up for lost revenue is anyone's guess but all it did was advance the manufacturing exodus that was already taking place. All the legislators could do is sit around scratching their heads wondering why no one wanted to build anything there anymore. Instead of realizing the errors of their ways, the citizenry just voted for people who blamed it on everyone else which, of course, didn't bring any jobs back to the state. Michigan lawmakes need to realize this isn't the 1950's and they don't have any leverage with which to strong arm manufacturers into opening up shop there.

      There is a reason no car company not already mired in a UAW contract would never in their right mind open a new factory there - they don't want to pay astronomical labor fees and state taxes for average work. At least recently they have been offering tax breaks to lure companies back but they still have a long way to go.
      • 5 Years Ago
      F@*k you Bob King.

      I've made cut backs so I can pay my bills. Why should you expect differential treatment.

      Thanks to you I will no longer buy American vehicles.
      • 5 Years Ago
      And this is supposed to stop Chrysler UAW workers from smoking weed and binge drinking on the Job and make better minivans?

      Unions are a political scam. I would never consider voting for a politician associated with one.
      • 5 Years Ago
      HillClimber: My wife (22 years married) is a pastor (5 years), my ties to her are stronger than those to JPMC. Really don't hate on anyone. I am also a christian, just not a rabid, frothy-mouth, bible-slinging kind of guy.

      Just can't root for the hedge fund managers that made billions in fees, and took NONE of the losses. In the meantime, teachers, firefighters, policemen, nurses etc have seen their pension funds wiped out.
      • 5 Years Ago
      I will respond to the UAW's attacks by never again buying a GM (government motors) product ever again.
      BOYCOTT GM !!!
      • 5 Years Ago
      Why doesn't Bob King spend less time telling people where they should put their money and more time getting UAW workers to stop smoking weed and drinking on their lunch breaks?
      • 5 Years Ago
      Wow. I can't wait for the first jackass to throw their hat into the ring with a comment suggesting there is anything even remotely appropriate about this.

      I also think from a news-reporting perspective that referencing "religious leaders" needs some context. You can go online and pay $20 to become an ordained minister in some whack-job "churches" so it's a little disingenuous to leave out specifics. I mean I think we can safely assume the Pope isn't getting behind this so why suggest that King and his clown posse have some credibility because "religious leaders" are involved?
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