YES -- Bombardier Bailout?

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rookiepilot
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YES -- Bombardier Bailout?

Post by rookiepilot »

Stay tuned....Your tax dollars at work!

https://www.bnnbloomberg.ca/bombardier- ... -1.1389230

"Quebec Economy Minister Pierre Fitzgibbon says "positive" news for the province will likely be announced Thursday by Bombardier when the aircraft and train manufacturer releases its financial results.

The minister says he has read "all the information" but that he is "not comfortable talking about it yet," opting to leave the announcement to the company.

Fitzgibbon, asked Wednesday if jobs would be maintained in Quebec, replied that he believed "there will be good news," without stating whether the province would again provide financial support to the multinational company."

https://en.wikipedia.org/wiki/The_Walki ... TV_series)
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Re: YES -- Bombardier Bailout?

Post by cjp »

:roll: Hopefully they keep the requirement to kick out the current leadership if they (BBD) wants to get in the lifeboat.
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Re: YES -- Bombardier Bailout?

Post by derateNO »

I'm fine with ONE LAST "bailout" with the following conditions.

1) BBD can not sell the A220.
2) Pierre Beaudoin and the "Family" is out
3) Appoint a real CEO
4) All shares become equal in the eyes of the law. No more A/B bullshit.

Basically run it like a proper publicly traded company.

Then, and only then would I be OK with more money sent their way. I really don't want to see Bombardier die off, even with all the issues they do have. It will complete the final act of the Brain Drain in Canada in Aviation.
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Re: YES -- Bombardier Bailout?

Post by telex »

Airbus buying out the C Series program?
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Re: YES -- Bombardier Bailout?

Post by rookiepilot »

derateNO wrote:
Wed Feb 12, 2020 3:03 pm
I'm fine with ONE LAST "bailout" with the following conditions.

1) BBD can not sell the A220.
2) Pierre Beaudoin and the "Family" is out
3) Appoint a real CEO
4) All shares become equal in the eyes of the law. No more A/B bullshit.

Basically run it like a proper publicly traded company.

Then, and only then would I be OK with more money sent their way. I really don't want to see Bombardier die off, even with all the issues they do have. It will complete the final act of the Brain Drain in Canada in Aviation.
Not likely. Canada is too much of a country club.
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derateNO
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Re: YES -- Bombardier Bailout?

Post by derateNO »

Unfortunately you are probably right.
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GyvAir
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Re: YES -- Bombardier Bailout?

Post by GyvAir »

Just out:

Airbus Lifts A220 Jetliner Stake to 75% as Bombardier Exits

Airbus SE increased its stake in the A220 jetliner to 75%, consolidating control of the narrow-body model as debt-laden Bombardier Inc. exits the program to preserve cash.

Airbus, which previously held about 50% of the venture, will pay $591 million to the Canadian firm. The government of Quebec lifted its share to 25%, the companies said Thursday.


https://www.bloomberg.com/news/articles ... -bails-out
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derateNO
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Re: YES -- Bombardier Bailout?

Post by derateNO »

So at least Quebec still owns something. Might actually be a better pay off in the long run if Airbus is running the show now.
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Re: YES -- Bombardier Bailout?

Post by Braun »

Does anyone know if Airbus is engaged to keep the jobs in Canada or there is no deal on that end?
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Re: YES -- Bombardier Bailout?

Post by frosti »

This is the company people wanted to build a modern Avro Arrow. :rolleyes:
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Re: YES -- Bombardier Bailout?

Post by Jet Jockey »

derateNO wrote:
Wed Feb 12, 2020 3:03 pm
I'm fine with ONE LAST "bailout" with the following conditions.

1) BBD can not sell the A220.
2) Pierre Beaudoin and the "Family" is out
3) Appoint a real CEO
4) All shares become equal in the eyes of the law. No more A/B bullshit.

Basically run it like a proper publicly traded company.

Then, and only then would I be OK with more money sent their way. I really don't want to see Bombardier die off, even with all the issues they do have. It will complete the final act of the Brain Drain in Canada in Aviation.
Yes I’d go for that too... Time for the Bombardier clan to go!
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Re: YES -- Bombardier Bailout?

Post by Jet Jockey »

derateNO wrote:
Wed Feb 12, 2020 3:03 pm
I'm fine with ONE LAST "bailout" with the following conditions.

1) BBD can not sell the A220.
2) Pierre Beaudoin and the "Family" is out
3) Appoint a real CEO
4) All shares become equal in the eyes of the law. No more A/B bullshit.

Basically run it like a proper publicly traded company.

Then, and only then would I be OK with more money sent their way. I really don't want to see Bombardier die off, even with all the issues they do have. It will complete the final act of the Brain Drain in Canada in Aviation.
Yes I’d go for that too... Time for the Bombardier/Beaudoin clan to go!
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telex
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Re: YES -- Bombardier Bailout?

Post by telex »

https://www.ctvnews.ca/business/bombard ... -1.4809896

"The reason why we're looking at strategic options is to accelerate deleveraging of the business," said Bellemare, who took the helm in 2015. "The strategy was always to exit commercial aircraft."

While panhandling for hundreds of millions from the government. Got it...
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Re: YES -- Bombardier Bailout?

Post by North Shore »

Sometimes, satire nails it...

https://thebeaverton.com/2020/02/bombar ... hDl-bSpdi0
MONTREAL – Executives at Bombardier Inc. have asked the federal and provincial governments for another $3.7 billion in government grants and subsidies for a special research project whereby money is sucked into a jet engine just for the hell of it.

After selling its remaining stakes in the A220 commercial aircraft program and posting a loss of $1.6 billion US for 2019, the company is looking for more creative ways to lose money at everybody else’s expense.

“It’s gonna be sick,” said Bombardier CEO Alain M. Bellemare describing the project filled with youthful glee. “The bags of $1,000 bills should melt or burn, but we wonder what would happen if we put a toonie in there. Would it melt or create a really cool explosion?”

Bombardier had previously spent $2 billion in federal subsidies to study the effects of crushing coins on railway tracks with its undelivered trains.

“All those loonies and toonies came out all bent and shit,” added Bellemare.

According to the sources inside the company, Bombardier hopes to report its findings to the public at a grade six science fair.
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Re: YES -- Bombardier Bailout?

Post by rookiepilot »

North Shore wrote:
Thu Feb 13, 2020 9:32 am
Sometimes, satire nails it...

https://thebeaverton.com/2020/02/bombar ... hDl-bSpdi0
MONTREAL – Executives at Bombardier Inc. have asked the federal and provincial governments for another $3.7 billion in government grants and subsidies for a special research project whereby money is sucked into a jet engine just for the hell of it.

After selling its remaining stakes in the A220 commercial aircraft program and posting a loss of $1.6 billion US for 2019, the company is looking for more creative ways to lose money at everybody else’s expense.

“It’s gonna be sick,” said Bombardier CEO Alain M. Bellemare describing the project filled with youthful glee. “The bags of $1,000 bills should melt or burn, but we wonder what would happen if we put a toonie in there. Would it melt or create a really cool explosion?”

Bombardier had previously spent $2 billion in federal subsidies to study the effects of crushing coins on railway tracks with its undelivered trains.

“All those loonies and toonies came out all bent and shit,” added Bellemare.

According to the sources inside the company, Bombardier hopes to report its findings to the public at a grade six science fair.

As long as the dude gets his $14 million a year out the back of the engine.
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Re: YES -- Bombardier Bailout?

Post by cjp »

North Shore wrote:
Thu Feb 13, 2020 9:32 am
Sometimes, satire nails it...

https://thebeaverton.com/2020/02/bombar ... hDl-bSpdi0
MONTREAL – Executives at Bombardier Inc. have asked the federal and provincial governments for another $3.7 billion in government grants and subsidies for a special research project whereby money is sucked into a jet engine just for the hell of it.

After selling its remaining stakes in the A220 commercial aircraft program and posting a loss of $1.6 billion US for 2019, the company is looking for more creative ways to lose money at everybody else’s expense.

“It’s gonna be sick,” said Bombardier CEO Alain M. Bellemare describing the project filled with youthful glee. “The bags of $1,000 bills should melt or burn, but we wonder what would happen if we put a toonie in there. Would it melt or create a really cool explosion?”

Bombardier had previously spent $2 billion in federal subsidies to study the effects of crushing coins on railway tracks with its undelivered trains.

“All those loonies and toonies came out all bent and shit,” added Bellemare.

According to the sources inside the company, Bombardier hopes to report its findings to the public at a grade six science fair.
Image
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