Everytime i see the company in the news they are always getting money from the government...
Bailouts, loans..... welfare?
Bailouts, loans..... welfare?
How many loans and bailouts does Bombardier need?
- Thread starter Johnnny
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Thats true but at that the same time i never see anything positive about the company. They also get reported in the news for being sued by other entities for not fullfilling contracts.
Federal government to give $372.5M in loans to Bombardier - Montreal - CBC News
What makes a large corporation deserve a bailout whereas a struggling mom-and-pop shop doesn't?
Furthermore, given the high-tech nature of Bombardier, I bet its workers earn far more on average than most Canadian workers. This means that if its workers really care, they can afford to take pay cuts to keep the company afloat. In many struggling businesses, the workers couldn't afford to do that.
In some respects, it's like reverse socialism (i.e. subsidize the better-off at the expense of the less advantaged).
If that company is struggling, it's either because its workers are too greedy, the company is too wasteful and inefficient, no one wants to buy its products, or some combination of these. why subsidize a company the products of which no one wants to buy? Why subsidize a business with greedy workers? Why subsidize an inefficient business that just sucks resources. Not environmentally friendly is it.
What makes a large corporation deserve a bailout whereas a struggling mom-and-pop shop doesn't?
Furthermore, given the high-tech nature of Bombardier, I bet its workers earn far more on average than most Canadian workers. This means that if its workers really care, they can afford to take pay cuts to keep the company afloat. In many struggling businesses, the workers couldn't afford to do that.
In some respects, it's like reverse socialism (i.e. subsidize the better-off at the expense of the less advantaged).
If that company is struggling, it's either because its workers are too greedy, the company is too wasteful and inefficient, no one wants to buy its products, or some combination of these. why subsidize a company the products of which no one wants to buy? Why subsidize a business with greedy workers? Why subsidize an inefficient business that just sucks resources. Not environmentally friendly is it.
Tell me that the CEO is not going to get a big bonus now, he negotiated a large loan (as if Bombardier is going to pay it back). Tell me that "Just-in" did not make a mistake and gave the boys at Bombardier his Swiss Bank account number. I have no idea what they would do with a Swiss bank account number, any guesses?
Remember Ed Broadbent and his "Corporate Welfare Bums"?
(The irony, of course, is that the biggest corporate welfare bum of all turned out to be General Motors in Ed's own Oshawa riding)
Bombardier is Canada's largest manufacturing company that is not foreign owned. We might not like that fact, but we are stuck with it. No government is going to want to let the company fail, and as a result Bombardier will continue to receive loans and subsidies to keep it competitive. However, just to keep this latest payout in perspective please note that oil companies receive about $3 billion a year in subsidies and no one seems to comment on that fact.
https://www.theguardian.com/world/2...e-canada-fossil-fuel-subsidies-carbon-trudeau
https://www.theguardian.com/world/2...e-canada-fossil-fuel-subsidies-carbon-trudeau
Can't they tax it back? Gov'ts are famous for that stuff!
And G.M. hires how many Canadians? 10s of thousands that are paying tax every year?
Not anymore. It's not even 10 thousand these days.Can't they tax it back? Gov'ts are famous for that stuff!
And G.M. hires how many Canadians? 10s of thousands that are paying tax every year?
According to the GM Corporate Newsroom, GM Canada directly employs approximately 8,400 employees in Canada (6,500 hourly + 1,900 salaried)
GM Canada is responsible for indirectly employing a further 1,350 contract support employees, primarily in Oshawa in their OnStar customer support operations.
Can't they tax it back? Gov'ts are famous for that stuff!
And G.M. hires how many Canadians? 10s of thousands that are paying tax every year?
... and Bombardier doesn't?
Lest we forget .. GM received $9.5 billion from our wallets and Bombardier is about to receive $372.5 million. That means that General Motors received a bailout worth 25.5 times what is being offered to Bombardier.
All of those Canadian jobs that were saved by the GM bailout? There were 10,000 GM workers in Canada, at the time and 27,000 Bombardier jobs now.
So, per job, Bombardier is receiveing 1/69th of what Genera Motors received but I guess that those GM jobs were better because ... why? ... it's an American corporation?
What feckin' hypocracy! Put your thinking cap on before you post dreck like that.
Bombardier is all over the place. There are plenty of workers in Thunder Bay at a Bombardier operation in Thunder Bay that is currently cash starved and barely able operate, at all. The C300 aircraft appear to have soaked up most of the loose change in the organisation.
BTW, when I was a lad, my father worked at a head office in Montreal. At the time, Canadian Pacific, Canadian National, Air Canada ... the first two being the largest corporations in Canada, at the time, were all headquartered in Montreal. The last two still are. Therefore, because they are "Quebec" companies, they are somehow lesser entities and the workers there are somehow inferior beings to you and deserving your distain?
I wish that so actual Canadians would log into the debate, not all of these Western victims who are hurtin' because they don't build airliners and rail cars in Cow Platte, Alberta.
What I'm not getting from the article is this: are those oil companies getting so-called "subsidies" in cash? Are the governments giving them the billions of dollars like Bombardier?
OR, is it because they get deductions on their taxes for R&D, equipment depreciation and other costs incurred? If they do, then ALL companies, including Bombardier get the same deductions so I'm not sure what the issue is. Perhaps you can elaborate Bar.
Just askin
What's next? Tax Credits or they dont make enough to pay taxes in the first place?
They never moved jobs to Mexico. They sold off the rec vehicle division which was rebranded as BRP by the new owners.
Tax credits are not cash subsidies ya silly Smurf.
In 2003, Bombardier Inc. sold its Recreational Products Division to a group of investors: Bain Capital (50%), the Bombardier family (35%) and the Caisse de dépôt et placement du Québec (15%).