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Bombardier wants federal bailout after receiving $1 billion from Quebec

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  • May 19th, 2017 2:03 pm
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[OP]
Deal Addict
Dec 3, 2014
1572 posts
96 upvotes
New Westminster, BC

Bombardier wants federal bailout after receiving $1 billion from Quebec

The answer should be NO! The capitalists always say government is the problem and shouldn't pick winners or losers until they become the losers then they want government help. Capitalists are always willing to throw away their values if it means saving their own ass.

Did we not learn anything from the past bailouts of Air Canada and GM? Stop bailing out PRIVATE companies. These private companies don't even benefit Canada. The rationale for the bailout is to save jobs. That's a bunch of BS. Bombardier and GM are still going to move production to Mexico or China regardless of any bailout. This is corruption plain and simple and keeping the rich capitalists rich.

If the federal government really wants to help Bombardier, the best thing they can do is lift sanctions on Russia which is better than any bailout. I don't have exact figures but Bombardier had big orders for planes from Russia like in the hundreds but then Harperman said no we have to have sanctions. At the same time Harperman says we have to sell weapons to Saudi Arabia. So Canada can't sell civilian aircraft to Russia but we can sell weapons to Saudi Arabia. This has nothing to do with human rights but instead doing the will of the USA.

NO FEDERAL BAILOUT FOR BOMBARDIER!

http://www.cbc.ca/news/canada/montreal/ ... -1.3298950
355 replies
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Apr 25, 2011
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3 upvotes
Ajax
gelato69 wrote:
Nov 1st, 2015 3:18 pm
The answer should be NO! The capitalists always say government is the problem and shouldn't pick winners or losers until they become the losers then they want government help. Capitalists are always willing to throw away their values if it means saving their own ass.

Did we not learn anything from the past bailouts of Air Canada and GM? Stop bailing out PRIVATE companies. These private companies don't even benefit Canada. The rationale for the bailout is to save jobs. That's a bunch of BS. Bombardier and GM are still going to move production to Mexico or China regardless of any bailout. This is corruption plain and simple and keeping the rich capitalists rich.

If the federal government really wants to help Bombardier, the best thing they can do is lift sanctions on Russia which is better than any bailout. I don't have exact figures but Bombardier had big orders for planes from Russia like in the hundreds but then Harperman said no we have to have sanctions. At the same time Harperman says we have to sell weapons to Saudi Arabia. So Canada can't sell civilian aircraft to Russia but we can sell weapons to Saudi Arabia. This has nothing to do with human rights but instead doing the will of the USA.

NO FEDERAL BAILOUT FOR BOMBARDIER!

http://www.cbc.ca/news/canada/montreal/ ... -1.3298950
If what you say about the Russian plane orders and selling weapons to Saudi Arabia, then I agree with you in that regards. But keep in mind that not every bailout is evil. In your own example, Air Canada benefited Canada a lot in terms of employment. Bombardiers troubles come from unions.
Penalty Box
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Oct 19, 2012
3359 posts
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Toronto
Wait a minute isn't capitalism survival of the fittest and therefore non-sustainable companies should be allowed to just die off?

Why do all these capitalist corporations love communist and socialist ideas so much when they are in dire times?
Deal Expert
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Oct 26, 2003
26225 posts
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Winnipeg
$1b didn't help them much, another $1b won't either, they lost $5b in 4 month so it won't even extend their lifeline by 1 month. Capitalists would agree losing that much money that fast is not sustainable.
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Deal Fanatic
Oct 7, 2010
7724 posts
654 upvotes
Fire all the useless people at Bombardier before any sort of bail out. Also CEO must not be paid millions to fire him or her. CEO must sign contract he get zero salary and any sort of stock option for next 3 years before any bail out money are seen.

Let's just let Europe Airbus and U.S. Boeing take the whole pie since we are so useless.
Deal Guru
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Nov 5, 2001
10541 posts
1144 upvotes
Edmonton
Lol didn't even wait for Justin Trudeau to name his cabinet, let alone take power before Quebec businesses started asking for handouts...


Nothing good and legitimate can ever come from the combination of The Liberals, Quebec and Quebec businesses:

https://en.wikipedia.org/wiki/Sponsorship_scandal
Deal Fanatic
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Mar 31, 2008
8874 posts
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Toronto
This company is not fit to survive. Needs to go bankrupt, get rid of old management and unproductive workers, and rebuild.
Deal Guru
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Dec 26, 2005
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Thornhill
Ummmm gelato, aren't bailouts more of a "socialist" mechanism? You should be saying "stop bailouts! Stop this socialist mentality!"

Then Bombardier will shut down, and all their employees will become unemployed and put QC even further down. What happens then?

Think before you post.

bjl
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May 24, 2008
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at1212b wrote:
Nov 1st, 2015 4:10 pm
This company is not fit to survive. Needs to go bankrupt, get rid of old management and unproductive workers, and rebuild.
The problems at Bombardier have little to do with the workers. Bombardier's engineers are respected worldwide, but their efforts are managed by idiots.

It is very difficult to understand why Beaudoin would be paid $5 million last year, while the company is forced to sell off parts of itself. This was while the company had a pay freeze for many workers.
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Deal Addict
Feb 26, 2003
4021 posts
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if they weren't in Quebec no one would even be considering a bailout..
Deal Expert
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Jul 22, 2006
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Time to buy their fighter jets and finally get rid of the federal government's current choice (which still hasn't been produced yet)
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Sep 9, 2010
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rommelrommel wrote:
Nov 1st, 2015 4:41 pm
if they weren't in Quebec no one would even be considering a bailout..
That's not true. I read somewhere that the automotive industry in Ontario was bailed out with $13-14B and the government recouped only $10-11B. $3B were written off (unrecoverable loss) and even with that huge bailout some plants were closed in Ontario and moved back to the US.
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Jul 22, 2006
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aviador wrote:
Nov 1st, 2015 5:18 pm
That's not true. I read somewhere that the automotive industry in Ontario was bailed out with $13-14B and the government recouped only $10-11B. $3B were written off (unrecoverable loss) and even with that huge bailout some plants were closed in Ontario and moved back to the US.
GM is moving out soon too
[OP]
Deal Addict
Dec 3, 2014
1572 posts
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New Westminster, BC
t3359 wrote:
Nov 1st, 2015 4:21 pm
Ummmm gelato, aren't bailouts more of a "socialist" mechanism? You should be saying "stop bailouts! Stop this socialist mentality!"

Then Bombardier will shut down, and all their employees will become unemployed and put QC even further down. What happens then?

Think before you post.

bjl
Ummmm no. If it were socialist, then every company would get equal bailouts. In fact if it were socialist, government would have a stake in every company which is actually what happens in some European countries. It should not be a bailout. If Bombardier wants bailout money, then they should sell ownership shares to the government. The government will get a dividend payout and in theory Canadians will get a dividend payment.
If it were communist, there would be no private companies at all.
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Sep 1, 2013
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gelato69 wrote:
Nov 1st, 2015 3:18 pm
The answer should be NO! The capitalists always say government is the problem and shouldn't pick winners or losers until they become the losers then they want government help. Capitalists are always willing to throw away their values if it means saving their own ass.
Who exactly are these "capitalists" that you keep criticizing? If you are referring to people who support capitalism, a lot of them would actually agree with you that governments should not intervene in the private sector.

I have asked you this question before, and I will ask you again: please define what you mean by "capitalists". If you are going to continue your crusade against them in RFD forums, at least explain what you are talking about.
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