h/t Ontario John, who puts it well;
Meanwhile here in Sunny Ways Canada, another economic success story for Groper. After billions of taxpayer dollars have been poured into Bombardier, the company has announced five thousand people will be layed off in Ontario and Quebec.
That’d be “Laid off”.
It’s a good thing that I sold the Bombardier shares that I inherited.
I’ve been following the company for about a decade and I’d look at its annual report every 2 or 3 years. Each time I did my analysis, the results did not look favourable, such as its current liabilities exceeding its current assets.
Without government assistance, the company would have gone belly up a long time ago. Let’s face it–that outfit’s a financial sinkhole.
I believe backhole is the more accurate term.
Bombardier is … too big to fail
Surely PM Sockenstein will … intervene … should Bombardier shares face an investor haircut. Canadian taxpayers to the rescue! Chicoms to the rescue.
They exec’s will give themselves a year-end bonus….
Lance, if you ever read reports on “company rescues”, that is the exact problem all most all the time, priorities as to money allotment.
Well, they deserve them, they keep meeting their performance targets. Which obviously are “1. Persuade the federal government to give us more money. 2. Persuade the provincial government to give us more money. 3. Persuade the feds, the province, and municipalities to award Bombardier contracts to build expensive things for them.”
Canaduh’s biggest and most successful welfare scheme.
Sooo? Just in said, as directed by His Handlers, and I paraphrase;–That will teach the New Conservative Premier of Ontario for defying MY trudeau plan for more Tax-Payer Funds through the moribund Carbon Tax scheme. Also it show the Quebev Voters what can Happe if they do not vote in a Liberal Party Branch operation as the Quebec Government.
Awesome material for Maximes bid come next October….
The question becomes will the Media Party even allow anyone other than the Liberals and NDP to advertise…??
Well I guess the Bombardier workers can always get a job on the Trans Mountain pipeline. Oh wait…..never mind.
Silly, Silly little unwashed people the Beaudoin and Desmarais families got what they wanted so all is good. Now, go back to being your naive little slave selves and we shall take care of you.
Man oh man! Wait till Andy 2 percent Scheer hears about this!
Old guys like me might remember in the late ’70’s or early ’80’s the Bomber boys getting a $800 million Federal government loan to finance their New York City subway equipment sale. What many Canadians never realized was that loan was written off 3 years later. On the right I mean left side of the tracks and the Liebels keep on giving. It was BS like this that led to Reform. 50 years later and nothing has changed.
Speaking of fail.
What’s a billion? (or two)
Billions in aid to Afghanistan wasted, including money from Canada, U.S. agency finds
Also known as “business as usual” in places like this.
The same as the $ given to developing countries to combat ‘climate change’, the same countries with the most corrupt regimes on the planet.
Over 11 Billion dollars in aid given to Bombardier over the years. Enough money to connect by road and rail, every corner, and reserve in Canada.
Me thinks the money ended up in the pockets of the Liberal elite in Quebec with a few crumbs to their Ontario brethren.
More fuel for Trudeau’s pyre.
The aid is a bad thing in itself but the layoffs are good. That’s what a business like Bombardier should be doing. The worst thing possible would be if Bombardier got aid and spent that embiggening itself, which would just misdirect more capital and resources AND increase their political heft (save our workers!1).
Because laying people off is always good. Spoken by a dipshit that has probably never had their life upended and had to start over from scratch.
Silver Lining to this black cloud is that Longview Aviation Asset Management in Calgary has bought the Q Dash 8 program, Together with Viking Aviation, who has the CL water bomber contract and the Twin Otter program, we might finally get some good aviation jobs out west for a change. This is a big thing, like canadair getting passed over in Winnipeg in favour of out east, we get it back! As long as workers from the east that move out here don’t vote for the same government as where they left, we’d be ok!
https://www.lvaam.ca/media
https://www.newswire.ca/news-releases/longview-aviation-capital-corp-acquires-dash-8-program-from-bombardier-inc-700017891.html
Correction, it was Bristol Aerospace in Winnipeg that was passed over in favour of Canadiar in Montreal for the CF-18 contract, back in 1986. Longview has bases in Vancouver and Calgary.
https://www.winnipegfreepress.com/local/mulroney-me-and-the-cf-18-118288794.html
The bright side of this is that selling their turbo-prop division (formally called DeHavilland) to Longview Aviation Capital (Viking Air) will put the sector of aviation Canada knows best back in to the west and out of the handout queue. For those who are not familiar, Viking Air already has rights to the rest of the deHavilland family such as DHC2 Beaver, DHC3 Otter, DHC4 Caribou, DHC5 Buffalo, DHC6 Twin Otter, DHC7 Dash 7 as well as Canadair water bombers. A resourceful and Canadian company that doesn’t need a bailout every year.
Its “Laid off” folks