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Resolution Regarding Boycott of Wells Fargo

Whereas Wells Fargo the lead bank of a nine bank consortium, provided a $125 million credit line to CF&I/Oregon Steel before a major labor despute between CF&I/Oregon Steel and its 1000 employees forced workers out on strike on October 3, 1998; and
Whereas three months later the union made a final offer to return to work which the company rejected, reinstating only 30 of the 1000 striking employees; and
Whereas instead of staying neutral during the labor dispute, Wells Fargo helped the company by providing another $15 million to offset the costs of the strike; and
Whereas, Wells Fargo is on the official boycott list of the AFL-CIO, a 13.2 million member organization;
Be It Therefore Resolved that Pride At Work/AFL-CIO officially endorses the boycott of Wells Fargo Bank and encourages its members to close out all accounts with the bank.
Submitted by: Howard Wallace, SF Bay Area Pride At Work


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