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PostPosted: Thu Jun 27, 2019 1:18 pm
 


Title: Bombardier cashes out while taxpayers get stiffed
Category: Business
Posted By: Freakinoldguy
Date: 2019-06-27 12:08:31
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PostPosted: Thu Jun 27, 2019 1:18 pm
 


Fuck Bombardier


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PostPosted: Thu Jun 27, 2019 1:43 pm
 


llama66 wrote:
Fuck Bombardier


Sounds to me like Bombardier fucked you and everyone else in Canada.


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PostPosted: Thu Jun 27, 2019 3:05 pm
 


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Trudeau 2019
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PostPosted: Thu Jun 27, 2019 3:54 pm
 


No, not Bombardier!!! Say it ain't so! I'm shocked, shocked I say! :wink:


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PostPosted: Thu Jun 27, 2019 4:21 pm
 


I’m no fan of bombardier and a corporation of that size being run on a hereditary basis by descendants of the founder instead of hiring the most qualified people is probably a recipe for disaster.

I was sad to see the regional jet go, the CRJ fleet is the best product in its market segment and its unrivalled success in the 90s and 2000s with air carriers around the world is why bombardier catapulted into the orbit of the other big aircraft manufacturers. But they bit off way more than they could chew with the c-series full size airliner and got in way over their heads. The other crown jewel, the Q400 turboprop was another unrivalled global success but was also recently sold. It’s not immediately clear to me what bombardier has left that’s profitable...the subway cars and streetcars that are always over budget and years behind schedule?

As I said at the beginning I’m not a fan of poorly run businesses or corporate welfare but the premise of the OP is wrong and really just sensational. There was never any expectation that the taxpayers would get any profits from any sale. In fact restructuring selling off unsustainable assets was likely a precondition of bailouts in the first place. This editorial in the news section is just red meat for the anti-Quebec audience.

Also Brahs post as usual is just wrong. Every conservative government has given bombardier money too. Boeing, airbus, they all get government subsidies. Aerospace is not sustainable without it.


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PostPosted: Thu Jun 27, 2019 4:25 pm
 


BeaverFever wrote:
I’m no fan of bombardier and a corporation of that size being run on a hereditary basis by descendants of the founder instead of hiring the most qualified people is probably a recipe for disaster.


If they own the majority of the corporation then it's their choice to run the company or not.

Also, what do you have against letting kids inherit what the parents built up? Are you Amish?


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PostPosted: Thu Jun 27, 2019 9:22 pm
 


BeaverFever wrote:
I’m no fan of bombardier and a corporation of that size being run on a hereditary basis by descendants of the founder instead of hiring the most qualified people is probably a recipe for disaster.

I was sad to see the regional jet go, the CRJ fleet is the best product in its market segment and its unrivalled success in the 90s and 2000s with air carriers around the world is why bombardier catapulted into the orbit of the other big aircraft manufacturers. But they bit off way more than they could chew with the c-series full size airliner and got in way over their heads. The other crown jewel, the Q400 turboprop was another unrivalled global success but was also recently sold. It’s not immediately clear to me what bombardier has left that’s profitable...the subway cars and streetcars that are always over budget and years behind schedule?

As I said at the beginning I’m not a fan of poorly run businesses or corporate welfare but the premise of the OP is wrong and really just sensational. There was never any expectation that the taxpayers would get any profits from any sale. In fact restructuring selling off unsustainable assets was likely a precondition of bailouts in the first place. This editorial in the news section is just red meat for the anti-Quebec audience.

Also Brahs post as usual is just wrong. Every conservative government has given bombardier money too. Boeing, airbus, they all get government subsidies. Aerospace is not sustainable without it.

You are correct that there never was any expectations that the taxpayers would see any profits from any sales. There were some expectations however that the bailouts were saving some Canadian jobs. 350 of them to be exact at the Mirabel Quebec plant. 350 people with families to feed and mortgages to pay. 350 people who cannot count on taxpayer bailouts when things go south for them like the Beaudoin-Bombardier family can. 350 people who have no one to shake down when the bank sends the foreclosure notice, or tows the family vehicle away in the middle of the night.

The article stated that Bombardier received their first subsidy in 1966. That is a long time on the dole. Is it really to much to ask that Bombardier provide jobs for Canadians in exchange for Canadian tax dollar subsidies? In 2016 Bombardier Transportation opened up a 6000 square meter production facility in South Africa. That facility could have and should have been built in Canada. Its not like South Africa possesses unique skills in the manufacturing of electric traction equipment that cannot be found in Canada. Look at all those Canadian jobs that could have been created in the building and running of that facility in Canada. This company has no sense of shame. No sense of ethics. They seem to think that the Canadian tax payers owe them something. Clearly they do not believe that they owe Canadians anything in return. They almost seem to think that they you should be grateful for every bailout that you provide.


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PostPosted: Thu Jun 27, 2019 10:00 pm
 


rickc wrote:
Clearly they do not believe that they owe Canadians anything in return. They almost seem to think that they you should be grateful for every bailout that you provide.



That is the clear arrogance of Lieberals in Canada. Has been that way for a long time.
You can see it even the postings of CKA.


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PostPosted: Fri Jun 28, 2019 6:25 am
 


BartSimpson wrote:
BeaverFever wrote:
I’m no fan of bombardier and a corporation of that size being run on a hereditary basis by descendants of the founder instead of hiring the most qualified people is probably a recipe for disaster.


If they own the majority of the corporation then it's their choice to run the company or not.

Also, what do you have against letting kids inherit what the parents built up? Are you Amish?

Nepotism is a word for a reason.


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PostPosted: Fri Jun 28, 2019 6:32 am
 


Tricks wrote:
BartSimpson wrote:
BeaverFever wrote:
I’m no fan of bombardier and a corporation of that size being run on a hereditary basis by descendants of the founder instead of hiring the most qualified people is probably a recipe for disaster.


If they own the majority of the corporation then it's their choice to run the company or not.

Also, what do you have against letting kids inherit what the parents built up? Are you Amish?

Nepotism is a word for a reason.


I for one resent people inheriting a non-viable company that I have to continually prop up with my tax dollars. If it's continually in need of a bailout, it should just be made a Crown corporation and run as a non-profit. (Assuming it needs to exist at all)


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PostPosted: Fri Jun 28, 2019 7:18 am
 


DrCaleb wrote:
I for one resent people inheriting a non-viable company that I have to continually prop up with my tax dollars.


Oh you mean the PMO ? :lol:


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PostPosted: Fri Jun 28, 2019 9:07 am
 


BartSimpson wrote:
BeaverFever wrote:
I’m no fan of bombardier and a corporation of that size being run on a hereditary basis by descendants of the founder instead of hiring the most qualified people is probably a recipe for disaster.


If they own the majority of the corporation then it's their choice to run the company or not.

Also, what do you have against letting kids inherit what the parents built up? Are you Amish?


They don't own the majority of shares, but they have a shares structure given them majority of votes so they control the company.


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PostPosted: Fri Jun 28, 2019 11:39 am
 


Martin15 wrote:
DrCaleb wrote:
I for one resent people inheriting a non-viable company that I have to continually prop up with my tax dollars.


Oh you mean the PMO ? :lol:

I don't think you know what the word inherit means


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PostPosted: Tue Jul 02, 2019 6:38 pm
 


BartSimpson wrote:
BeaverFever wrote:
I’m no fan of bombardier and a corporation of that size being run on a hereditary basis by descendants of the founder instead of hiring the most qualified people is probably a recipe for disaster.


If they own the majority of the corporation then it's their choice to run the company or not.

Also, what do you have against letting kids inherit what the parents built up? Are you Amish?



As usual you totally missed the point. I’m not saying it’s not their choice, I’m just saying that’s probably why it’s poorly run. We’re not talking about a mom and pop store anymore. It takes a lot of skill and experience to run a $5Bn corporation with 70,000 employees worldwide and simply having the DNA of the guy who invented a snowmobile in his garage probably isn’t enough to properly run the place.


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