Bombardier just received $372 million in loans

[cannuck]

On 2/22/2017 at 0:58 PM, ?Impact said:

What about fossil fuel (largest corporate welfare recipient by a significant margin), and other resource extraction industries? That would account for about 80% of our corporate welfare.

I agree ignorance is a problem, and that is what I am suggesting a solution to. Proper accountability. I never said it is unfair to poor little Bombardier, I said we need a real solution for everyone. I am not suggesting accountability only for Imperial Oil I am suggesting accountability for all. 

I would like to know what you feel is being subsidized to the fossil fuel businesses?

Most of all, why would you expect government to be in the business of picking winners and losers in business?  Until we realize that the business of government SHOULD be to govern.  That means to provide unbiased regulation and enforcement and to keep their nose the hell out of business and my back pocket.

[?Impact]

1 minute ago, cannuck said:

Most of all, why would you expect government to be in the business of picking winners and losers in business?

That is a good question that should be examined. I am not promoting it, I am asking for accountability. Without accountability we cannot make any proper evaluation.

[cannuck]

Just now, ?Impact said:

That is a good question that should be examined. I am not promoting it, I am asking for accountability. Without accountability we cannot make any proper evaluation.

You are falling for the bureaucrat's argument - that they can do more or less with more or less (always MORE) money.   The real question is what the frick are they doing at ALL!  90% of what government does it should have no business in doing.   They don't need to be accountable, they need to be out looking for a job in the real world where they can be productive instead of simply very expensive welfare cases.

[?Impact]

1 minute ago, cannuck said:

You are falling for the bureaucrat's argument - that they can do more or less with more or less (always MORE) money.   The real question is what the frick are they doing at ALL!  90% of what government does it should have no business in doing.   They don't need to be accountable, they need to be out looking for a job in the real world where they can be productive instead of simply very expensive welfare cases.

I am looking for accountability from the recipients of the government largess - Bombardier, Imperial Oil, General Motors, etc.

[cannuck]

6 hours ago, ?Impact said:

I am looking for accountability from the recipients of the government largess - Bombardier, Imperial Oil, General Motors, etc.

ah....my bad...your good.  We good??

[Boges]

Why do companies do this? 

http://www.cbc.ca/news/canada/montreal/bombardier-executives-quebec-payout-1.4047290

Quote

 

Bombardier is being slammed for its "sense of entitlement" after awarding $32.6 million US to senior executives even as it laid off thousands of workers and sought government aid.

The payout represents an increase of nearly 50 per cent for its top five executives and board chairman, compared with 2015.

"At the very least, it demonstrates a rather incredible sense of entitlement, doesn't it?," said David Baskin, president at Baskin Wealth Management, a Bay Street investment management firm.

"Here's a company that basically went begging to the province and the federal government for money, saying that if you don`t give us all this money, we're going to lay off all these workers."

Bombardier's senior execs saw pay rise by nearly 50%

Should public dollars go to private companies?

The federal government issued a $372.5 million loan last month for the CSeries and Global 7000 programs, while the province recently poured $1 billion US into the CSeries program in exchange for a 49.5 per cent stake. 

The province's pension fund manager, the Caisse de dépôt, also bought a 30 per cent stake in the company's railway division for $1.5 billion US.

 

 

[Guest]

5 hours ago, Boges said:

Why do companies do this? 

http://www.cbc.ca/news/canada/montreal/bombardier-executives-quebec-payout-1.4047290

 

Probably just because they can.  No-one in any Canadian government is going to let Bombardier fail.  If they need a raise next year, JT will see to it.

Edited March 31, 2017 by bcsapper

[bush_cheney2004]

6 hours ago, Boges said:

Why do companies do this?

 

Why do Canadian media mix Canadian and U.S. dollar pairings across such stories ?

Was the original $372 million for Bombardier in CAD or USD ?

Is executive pay expressed in dollars US more relevant to a domestic audience that dollars Canadian ?

[eyeball]

2 minutes ago, bush_cheney2004 said:

Why do Canadian media mix Canadian and U.S. dollar pairings across such stories ?

It gives Americans who are fascinated with Canada something to fascinate about?

[bush_cheney2004]

1 minute ago, eyeball said:

It gives Americans who are fascinated with Canada something to fascinate about?

 

Are U.S. dollars more fascinating than Canadian dollars ?    It would appear so.....

[eyeball]

Yes, clearly they are. I'm always fascinated when the US dollar becomes a refuge for investors when the debt burdening their own currency gnaws at them.

[bush_cheney2004]

2 minutes ago, eyeball said:

Yes, clearly they are. I'm always fascinated when the US dollar becomes a refuge for investors when the debt burdening their own currency gnaws at them.

 

It is fascinating....executive pay expressed in lower USD is more evil than executive pay expressed in higher (but equivalent) CAD.

 

[-1=e^ipi]

The Federal, Ontario and Provincial 'liberals' are all about corporate welfare. They don't believe in free enterprise nor do they believe in an even playing field. The message is that if you have a company and you want to succeed in Canada, you don't do that by offering better services / goods or by trying to reduce costs to be more profitable, you need to get cozy with the provincial / federal politicians, maybe pay them $1500 to meet for dinner, or let them stay at your tropical island mansion house. The end result is that we penalize more profitable and efficient companies to prop up less efficient and less profitable companies that just have better connections with the government. This is not good for society as a whole, is very vulnerable to corruption, and is franking disgusting.

Edited March 31, 2017 by -1=e^ipi

[capricorn]

So now that money was thrown at Bombardier, a Quebec company, for the sake of equity money will also be thrown at Ford Canada in Ontario.

Quote

Prime Minister Justin Trudeau announced the investment of $102.4 million to Ford Canada in a statement on Thursday. The Government of Ontario will contribute an additional $102.4 million in support of this project, the statement said, adding that these investments “will attract an additional $1 billion in research and development spending from Ford of Canada, and lead to the creation and maintenance of almost 800 good, middle class jobs for Canadian workers.”

http://www.canadianunderwriter.ca/insurance/federal-ontario-governments-invest-ford-canada-centre-focusing-connectivity-1004111092/

Those "good, middle class jobs" will translate into "good, middle class votes" for the Liberals.