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Bombardier wants federal bailout after receiving $1 billion from Quebec

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  • Sep 10th, 2017 1:28 pm
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TM2Megatron wrote:
Mar 29th, 2017 7:38 pm
Nice to know what our tax dollars are going to support. While laying off thousands of former middle-class Canadians and begging for Federal money (after already receiving money from the QC government), they still manage to find the money for rather large corporate raises for people already earning more than they know what to do with for running a failing company.

Where's the outrage from our glorious leader, the great supporter of the middle-class that he claims to be? He should be running to the bank to cancel the cheque they wrote Bombardier last month.

We should put an end to this farce of a company and bring in the Japanese. At least they know how to put a train together on time.
I'm sure the Chinese would love to buy Bombardier, they made an offer a while ago but the Bombardier family refused.
A wise RFD'er once said, "Buy now, think later."

¯\_(-.-)_/¯
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dealseaker101 wrote:
Mar 30th, 2017 12:34 am
I'm sure the Chinese workld love to buy Bombardier, they made an offer a while ago but the Bombardier family refused.
Why would they sell a goldmine that will land them 1B of free money every year or 2 with guaranteed government bailout in case of bankruptcy?

We tax payers are the suckers.
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cn_habs wrote:
Mar 30th, 2017 2:34 am
Why would they sell a goldmine that will land them 1B of free money every year or 2 with guaranteed government bailout in case of bankruptcy?

We tax payers are the suckers.
The problem is that the $1 billion from the government is technically, for all intents and purposes, just an "investment" (to satisfy world trade rules regarding aerospace). In that regard, Bombardier doesn't really have any real obligation to tax payers, they are free to give their execs as many bonuses as they like.
A wise RFD'er once said, "Buy now, think later."

¯\_(-.-)_/¯
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After public outcry, Bombardier executive chairman cuts back salary
Quebec government had called on company to respond to criticism about executive compensation

http://www.cbc.ca/news/canada/montreal/ ... -1.4051090
Beaudoin brought the request to the company's board of directors on Friday.

"After listening to the recent public debate about the compensation of senior executives at Bombardier, I have asked the board of directors to reset my 2016 compensation, reducing it to the 2015 level," he said in a news release, adding it had become a distraction.

In 2016 Beaudoin's compensation increased to $5.25 million US. That was up from $3.85 million US in 2015.
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tk1000 wrote:
Apr 1st, 2017 8:00 pm
After public outcry, Bombardier executive chairman cuts back salary
Quebec government had called on company to respond to criticism about executive compensation

http://www.cbc.ca/news/canada/montreal/ ... -1.4051090
Too little... too late. As long as common stock shareholders aren't getting dividends, BBD executives and employees shouldn't be getting bonuses (i.e., zero BBD.B dividends = zero bonuses for all, no exceptions.) Double standards. LOL
yare yare daze...
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this is MY suggestion: Let bombardier file for bankruptcy! Then have the government buy up the company and all patents for pennies on the dollar. Give 40% of the company to the employees and unionize it. Sell 60% of the corporation after bombardier is back on its feet and running again. The best kind of corporation is one that works for its employees at the bottom of the ladder.
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aviador wrote:
Apr 1st, 2017 10:12 pm
Too little... too late. As long as common stock shareholders aren't getting dividends, BBD executives and employees shouldn't be getting bonuses (i.e., zero BBD.B dividends = zero bonuses for all, no exceptions.) Double standards. LOL
Dual class share structure. You get what you pay for.
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dealseaker101 wrote:
Mar 30th, 2017 4:40 am
The problem is that the $1 billion from the government is technically, for all intents and purposes, just an "investment" (to satisfy world trade rules regarding aerospace). In that regard, Bombardier doesn't really have any real obligation to tax payers, they are free to give their execs as many bonuses as they like.
true investments are done to benefit the investor, the government were under pressure to give in for this bailout, with bbd threaten to do mass layoffs and such.
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The answer is simple, nationalize bombardier and the airlines and move their head offices to Calgary. Have bombardier make cheaper planes for our nationalized airlines and provide steady high quality jobs for talented employees. They've received enough public funds that we probably own them anyways. Airlines are using our precious resources without compensating us fairly and polluting our environment.
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Bombardier has just shown taxpayers the ugliest side of Capitalism that is possible. They`ve taken taxpayer`s money, laid off thousands and now pat themselves on the back.
I can see them now, looking down on the little people scurrying along the streets of Montreal:

Great job guys. Bonuses for everyone. Oh, and send Justin a Thank You note. Gotta love that guy
Anyone But Justin 2019
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poleman wrote:
Apr 3rd, 2017 11:01 pm
Bombardier has just shown taxpayers the ugliest side of Capitalism that is possible. They`ve taken taxpayer`s money, laid off thousands and now pat themselves on the back.
I can see them now, looking down on the little people scurrying along the streets of Montreal:

Great job guys. Bonuses for everyone. Oh, and send Justin a Thank You note. Gotta love that guy
A thank you note to Philippe also for the $1-billion lifeline they got last year...
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So now Boeing is trying to get Trump to block the sale of Bombardier planes in the US:
http://www.cbc.ca/news/business/boeing- ... -1.4089257

If they want to play it that way, Canada should block the sale of or impose duties against Boeing aircraft in Canada, and the Liberal government should cancel their Boeing Super Hornet order. The Canadian government has already money tied up in BBD, might as well force Canadian airlines to purchase a boatload of those instead like the Japanese government did with the new Mitsubishi MRJ, and like China and Russia are doing with their own domestically made planes. Canadian airlines can purchase larger planes from Airbus instead.
A wise RFD'er once said, "Buy now, think later."

¯\_(-.-)_/¯
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Word on the street is that Bombardier will sell-out​ the CSeries program to China's COMAC, thus filling the space right below the new C919.
A wise RFD'er once said, "Buy now, think later."

¯\_(-.-)_/¯
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dealseaker101 wrote:
Apr 28th, 2017 7:25 pm
So now Boeing is trying to get Trump to block the sale of Bombardier planes in the US:
http://www.cbc.ca/news/business/boeing- ... -1.4089257

If they want to play it that way, Canada should block the sale of or impose duties against Boeing aircraft in Canada, and the Liberal government should cancel their Boeing Super Hornet order. The Canadian government has already money tied up in BBD, might as well force Canadian airlines to purchase a boatload of those instead like the Japanese government did with the new Mitsubishi MRJ, and like China and Russia are doing with their own domestically made planes. Canadian airlines can purchase larger planes from Airbus instead.
they are saying the planes are sold in the states for less than canada, did they just woke up last night? the same vehicle sold in canada is always more expensive, this is not even news. it is common knowledge that even stuff produced here, is cheaper to have them ship and export to the states and buy it there.
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