Federal Support of Bombardier...Good or Bad Idea?

[Rwede]

*removed*

[maryjane48]

tough call . the j9bs for canadians matter but a company run into the ground by bad choices over and over is also in mind . stick making skidoos and water bombers . they cant compete with boeing and airbus .

make better mass transit . make hockey sticks haha

[Merry]

Any company that has to be bailed out over and over again, is NOT a good company to invest in. Therefore the Government is being totally irresponsible using our taxpayer dollars to do so (even if it is only a loan).

Yes, helping to keep companies in business is a good idea IF a one time loan would help make that happen. But this is not the first time Bombardier has received Government funds. So clearly it is not a viable business, and therefore not worthy of using our taxpayer dollars to "prop up".

I'm tired of paying taxes to help failing companies continue to fail.

[lesliepaul]

Any company that has to be bailed out over and over again, is NOT a good company to invest in. Therefore the Government is being totally irresponsible using our taxpayer dollars to do so (even if it is only a loan).

Yes, helping to keep companies in business is a good idea IF a one time loan would help make that happen. But this is not the first time Bombardier has received Government funds. So clearly it is not a viable business, and therefore not worthy of using our taxpayer dollars to "prop up".

I'm tired of paying taxes to help failing companies continue to fail.

Bombardier has also PAYED BACK a lot of loans and contributes HUGELY in taxes per employee totaling BILLIONS over many years..........add to that all of the spinoff suppliers with employment and taxes paid. You appear to see only one side or should I say........the side you want to see and complain about. I see squandering of our tax money everywhere with ZERO return and Bombardier PALES in comparison........but your obviously OK with that.

[GordonH]

Sink or swim on their own dime

[Merry]

Bombardier Inc. has gone to great lengths to suppress the release of information about the government funding it receives, heading to court 10 times in nine years, often citing competitive concerns.

Court records and access-to-information documents obtained by the Financial Post show how difficult it is to glean the outcome of previous government support for the Montreal-based aerospace giant

These records are often redacted at Bombardier’s request, or appear incomplete, even in cases where the company’s industry peers allowed the same information to be released.

A contribution of $1.3 billion would equal all the repayable funding Bombardier has received over the past 50 years, according to Industry Canada’s calculations.

But how that money was spent, and how or even if it was paid back is difficult to discern from the documents released. While Bombardier says the information must be withheld for competitive reasons, the company has made this argument far more frequently than its industry peers.

http://business.financialpost.com/news/ ... t-receives

[fvkasm2x]

http://business.financialpost.com/news/ ... rnment-aid

Well I think that quickly confirmed it was a bad idea.

DIdn't take a lot to figure that out initially, but of course Trudeau and the Liberal faithful gloss over hard truths.

Bosses get $$ and the workers get stiffed. All on our dime

[GordonH]

Tells me what I say all along is right, either sink or swim on their own dime. Unfortunately I'm not surprised at all, happens with overpaid executives in both public & private business (usually in private businesses its within the company these increases happen).
It really stinks when it is taxpayers money being wasted like this.

[alfred2]

If in qubec trudeau will do anything to keep their vote. That is our punishment for all the qubec born pm.sin this country.

[fvkasm2x]

Well it looks like he did the same thing with Ford Canada too.

Not sure why we're "investing" in Ford Motor Company... they do just fine without our tax money.

Bombardier didn't need our money in the first place and their actions as of late in terms of bonuses and salary boosts are disgusting. Flat out ridiculous and I don't know how he can justify this.

Naturally though, when asked straight about the pay scandal, he danced around the question and blabbered on about "investing in the future."

[Rwede]

Bombardier execs get 50% pay boost from Trudeau handout


Trudeau defends government aid to Bombardier after its senior execs boosted their pay by nearly 50%

The Canadian Press | March 30, 2017 4:16 PM ET


BRAMPTON, Ont. — Prime Minister Justin Trudeau is defending his government’s decision to provide federal assistance to Bombardier after the company’s senior executives saw their compensation rise by nearly 50 per cent last year.

After touring a Magna auto parts facility in Brampton, Ont., today, Trudeau was asked several times how he can justify the $372.5-million loan package announced in February for Bombardier’s CSeries and Global 7000 aircraft programs.


SNIPPPPPPPPPPPP


Total compensation for the Montreal-based manufacturer’s top five executives and board chairman was US$32.6 million in 2016, up from US$21.9 million the year before, according to a proxy circular ahead of Bombardier’s annual meeting on May 11.

The hike came at a time when Bombardier (TSX:BBD.B) laid off thousands of workers as part of a turnaround plan


http://business.financialpost.com/news/ ... -nearly-50

[Barney Google]

Hey Canadian Tax Payers....dontcha just LOVE knowing your money is going to make rich people richer???!!!???

Thank you, thank you very much JT!!!!

[Sparki55]

Bombardier has also PAYED BACK a lot of loans and contributes HUGELY in taxes per employee totaling BILLIONS over many years..........add to that all of the spinoff suppliers with employment and taxes paid. You appear to see only one side or should I say........the side you want to see and complain about. I see squandering of our tax money everywhere with ZERO return and Bombardier PALES in comparison........but your obviously OK with that.

By this logic, any company that requires help should be given what they have contributed to the government since they are providing jobs and other spinoffs to support them. There are many people who could build a darn good company with $1 billion and hire many people and outsource tons of parts to Canadian suppliers that would be able to become self sufficient and never require another loan. I want $100k to build a local market and hire a few people to supply Kelowna with healthy food, oh and if it fails i'll need more money; don't worry, I'm adding to the economy so it all balances out after I pay myself ;).

[Omnitheo]

This is a recurring problem with corporations. Same thing happened with Wall Street after the bailouts. Shaw family continues to be highest paid family in Canada while laying off thousands of workers. And then it's always the same excuse "these bonuses are in-line with typical benefits for this industry". Tens of millions of dollars? For a bonus?! How much do our leaders make. Somewhere in the hundreds of thousands. Yes a lot, but not even close to the greed of those who who run companies, something supposedly less complex and more manageable than entire countries.

But meanwhile we see people on here who typically promote the private sector as being the answer to all problems, and they're trying to gloss over the glaring corporate greed to pin the blame on the government?

Well I agree that with handouts there should be stipulations. But you know if there were more, people would complain that the government is being too overbearing and bureaucratic . I mean I know when it comes to detractors, every situation is a loss for Trudeau. Either he's giving handouts to the wealthy, or he's failing Canadian companies by not aiding them. I see these people on a daily basis complain about Trudeau not giving handouts to the energy sector. And who's kidding themselves that Oil Execs wouldn't just hand a tenth of that over to themselves as bonuses immediately afterwards.

But I can say that if the liberal government turned down aid requests, there would be a completely different discussion, about how our government let so many thousands of jobs be lost by not supporting such a major employer.

You guys can't have it both ways. If you you love the private sector so much, you need to accept the realities of the abuses and greed, and not just try to shift the blame. After all, how much of your utility or service bills went towards someone's 15 million dollar bonus last year? Your gas? Your groceries?

[Dizzy1]

tough call . the j9bs for canadians matter but a company run into the ground by bad choices over and over is also in mind . stick making skidoos and water bombers . they cant compete with boeing and airbus .

make better mass transit . make hockey sticks haha

Bombardier isn't competing with Airbus or Boeing - Airbus and Boeing build aircraft with seats 100 or more and Bombardier builds aircraft with less than 100 seats for the regional sector - two very different markets.

Granted, the new CSeries is more of a competitor to the likes of the B737 and the first Bombarider aircraft with more than 100 seats, with 360 orders so far and with its extremely impressive in service performance so far - it's a program that will do very well for itself.

Bombarier just completed some trial runs between London City and JFK and the CSeries is capable of doing the flight nonstop with no weight restrictions while the A318 needs a fuel stop enroute the majority of the time and the current B737s cannot do it