There are many ways the government uses our tax contributions and 2 billion isn't a lot of money by any stretch for the GoC. Unless it's in cash sitting on your living room floor, maybe. I could see why the average person would think it's a mountain of money. It isn't.
Look how willing the government was to buy F35s. Not with my hard earned tax dollars you don't! Sent our military to Afghanistan to support the Americans? Not with my tax dollars you don't! (a bit late for that, but we'll get some of it back through a renegotiation of NAFTA)
For some, throwing money at Bombardier is not how they'd like to see their tax dollars spent, I get that.
The TTC kept changing the terms and requirements agreed to with BBD. So did Flexrail. There comes a point in time where the reality in the dispute must be there are two parties doing something questionable to each other. Human nature? Pick a side.
The cat's out of the bag for BBD I'd say. Management of that company was simply overwhelmed due to their lack of qualifications and experience to run a company like BBD, until the present group of executives were recruited last year. The previous executives may have manoeuvred BBD into trouble but the adjustments to operations Bellemare has made have had a positive impact and are actually starting to show improvement and stability for them. He went out early looking for investors. Airbus, Boeing, and Embraer included, but no takers. The Quebec government approached BBD with investment capital and the silly fools accepted it. It took prime minister Turdo and his mates quite awhile to make a similar move with only a third of what they initially said they'd invest. Here's where I diverge and disagree with words being used in this grumble fest.
There are such things as corporate welfare, forgivable loans, loans with interest, and investments.
Neither the Quebec pension fund nor the GoC have given this company anything other than a loan with interest and investment capital with an expected ROI.
To me that's a much better investment for us over burdened tax payers than the thought of buying F35s. A much better solution for aerospace employees and aerospace companies who'd be on the dole if BBD was allowed to implode.
Why are Canadians so near sighted and insecure that they'd rather push for the company's demise over its success?
I agree, the two classes of shares have to go. It would be ideal to have the family out. Certainly preferential to not have them as board members but the reality is, it's their company and unless they sell it it's tough tit for we, the overburdened taxpayers.
Don't kid yourself. Quebec's loyal tax payers are not at all happy with BBD right now. Not at all!
I'm not only an unhappy Quebecker, I'm an unhappy tax payer.
Gino Under
P.S. There's no such thing as "your fair share of taxes". None of us pays a "fair" share.
"I'll tell you what's wrong with society. No one drinks from the skulls of their enemies!"
