Teamsters: KeyBank Ethically Bankrupt

Teamsters: KeyBank Ethically Bankrupt

National Radio Ad Highlights Bank's Financing of Worker Abuses

WASHINGTON, Dec. 12 /PRNewswire-USNewswire/ -- The Teamster's Union launched a nationwide radio ad on Air America today condemning KeyBank (NYSE: KEY) for betraying taxpayers and for financing Oak Harbor Freight Lines' labor abuses. Oak Harbor workers in Oregon, Washington and Idaho were forced to strike Sept. 22 to protest the freight company's violations of U.S. labor laws, as well as hostile efforts by company representatives to intimidate workers. A day later, Oak Harbor took the extraordinary step of cutting off health benefits to its workers and retirees.

Cleveland-based KeyBank, which is set to receive $2.5 billion from the Troubled Asset Recovery Program (TARP), is on the board of several mortgage industry associations that lobbied to stop a Senate bill that would have prevented well over half a million home foreclosures. KeyBank also serves as the principle financial institution for Oak Harbor Freight Lines.

"KeyBank's irresponsible decisions are putting working families in a bind," said Margaret Butler, the Director of Portland Jobs with Justice, who led a protest at KeyBank's main branch in Portland last week as part of Jobs with Justice's "People's Bailout" National Week of Action. "At this moment of crisis, KeyBank needs to extend relief to working Americans instead of financing a rogue company like Oak Harbor that has broken U.S. labor law and violated international labor standards during a 3-month strike in the Northwest."

"Momentum is growing against KeyBank's support of Oak Harbor," said Al Hobart, President of Teamsters Joint Council 28 and International Vice President. "We are going to continue to take our message to the public and inform them of the anguish KeyBank is causing American workers and families."

The Teamsters' radio ad will run on the national radio network Air America, and is expected to reach at least 1.6 million listeners. Air America is also available online at www.airamerica.com.

To listen to the radio ad, follow this link: http://www.teamster.org/popupContent.aspx?id=26436

The full text of the radio ad follows:

(Little Girl): KeyBank has no loyalty:

Bank penalties, Expensive fees.

They support Oak Harbor's greed

On the West Coast.

Sooo...

Take KeyBank and lock it up,

What a chump, Lock it up.

We're in a financial slump.

KeyBank's heartless.

(Narrator): It's no wonder KeyBank finances Oak Harbor Freight Lines. After all, Oak Harbor violated workers' rights and cut off health care for retired employees. Tell KeyBank to stop playing kiddy games and get serious about workers and their money.

This ad was brought to you by the Teamsters Union.

The International Brotherhood of Teamsters was founded in 1903 and represents 1.4 million hardworking men and women throughout the United States, Canada and Puerto Rico.

Source: International Brotherhood of Teamsters

CONTACT: David White of International Brotherhood of Teamsters, +1-202-
624-8730, dwhite@teamster.org

Web Site: http://airamerica.com/

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