I write to shed light over JPMorgan Chase's refusal to compensate Tri-Line Contracting Corp. for construction services rendered at 270 Park Avenue Chase's Corporate Headquarters. Republic Group is the finance company that ensures Tri-Line has the capital to complete projects such as the one at Chase's headquarters. In fact, Republic's financing services have been invaluable to a number of Minorities and Women's Business Enterprises (MWBE) whose lending needs have been completely neglected by companies like Chase.
Tri-Line and Republic are simply two examples of numerous MWBEs finding ways to succeed and create jobs in this tumultuous economic moment. As such, by rejecting its responsibility to remunerate Tri-Line (over $5,000, 000) in a timely fashion, JPMorgan Chase is exhibiting a broader lack of accountability to small, minority owned businesses.
How can a company like Chase, get TARP monies (our tax dollars), not use it for what it was intended (loans for businesses), give contracts to minority companies to say that they do work with them and not pay what is owed because individuals within their Design & Construction departments namely Mathew E. Miller were looking to have Tri-Line perform work not in their plans. The ultimate spit in the face is the fact that by not paying Republic and Tri-Line Chase has in fact financed their brand new corporate offices on the backs of small minority firms with no intentions of paying them back.
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