Saturday, May 09, 2009
 
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Ill. treasurer threatens bank over Obama suit-maker

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[May 09, 2009]  DES PLAINES (AP) -- Illinois Treasurer Alexi Giannoulias is threatening to pull state business from Wells Fargo & Co. unless the bank stops trying to liquidate a company that makes suits for President Barack Obama.

Giannoulias made the ultimatum outside a Hartmarx Corp. factory in Des Plaines Thursday. Chicago-based Hartmarx is the nation's largest maker of men's tailored clothing.

The company filed for Chapter 11 bankruptcy Jan. 23. It employs about 3,000 workers represented by the Service Employees International Union.

Giannoulias spokesman Scott Burnham says Wells Fargo is custodian of an $8 billion state portfolio. Bank spokeswoman Jessica Walstrom says Wells Fargo empathizes with Hartmarx's employees.

Union officials say the bank should help since it received a $25 billion federal bailout.

[Associated Press]

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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