Canada loses jobs, economy and companies

Hoid

Hall of Fame Member
Oct 15, 2017
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today we have record employment and stock markets and a meh oil and gas sector

because ridiculously high oil and gas prices hurt our overall economy
 

Hoid

Hall of Fame Member
Oct 15, 2017
20,408
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we have the new nafta

Auto manufacturing is moving down to Mexico just like the old nafta.

maga
 

Dixie Cup

Senate Member
Sep 16, 2006
5,693
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Edmonton
Yep, the crappy economy is what keeps me in my job, thankfully but I feel bad for those who are truly suffering because of a Federal government who doesn't give a crap about it's citizens; some of whom are really hurting!


I am blessed in that good or bad economy, my job is quite secure. (Not unlike a funeral director LOL) There'll always be work!
 

Hoid

Hall of Fame Member
Oct 15, 2017
20,408
3
36
Yep, the crappy economy is what keeps me in my job, thankfully but I feel bad for those who are truly suffering because of a Federal government who doesn't give a crap about it's citizens; some of whom are really hurting!


I am blessed in that good or bad economy, my job is quite secure. (Not unlike a funeral director LOL) There'll always be work!
no federal government has ever had better employment numbers.
 

Hoid

Hall of Fame Member
Oct 15, 2017
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See?
 

captain morgan

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Mar 28, 2009
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A Mouse Once Bit My Sister
Your unemployment numbers ignore the people whose EI has run out.


This is the shell game that tater tot is playing in assuming that once the unemployed fall off the EI scrolls that they magically find employment
 

Twin_Moose

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Apr 17, 2017
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Taxpayer group reveals 43,000 Quebec public sector workers earn $100,000 or more

MONTREAL — Quebec's hydro utility, the city of Montreal and McGill University are among the public bodies in the province that employ the most people earning six-figure salaries, according to a study published Tuesday by the Canadian Taxpayers Federation.
The data reveals that at least 43,469 provincial and municipal government employees earn more than $100,000 annually, costing taxpayers roughly $5.3 billion, says the national group that lobbies for smaller government and lower taxes...…………..More

H'mm interesting the public sector is paid almost 1/2 of the transfer payment
 

Twin_Moose

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Apr 17, 2017
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Coronavirus pummels sales of Canada Goose luxury coats

Jesse Kline: Bombardier lives by the hand of government and dies by it

Bombardier is in trouble — again. But after years of suckling on the public teat, it looks like the tide may be turning when it comes to political willingness to support the company with public money.
Despite billions of dollars in government support over the years, the Canadian company currently finds itself $9 billion in debt and the Wall Street Journal reported earlier this week that the aerospace giant is in talks to sell its business jet unit to U.S.-based Textron Inc.
Long seen as a company that’s too big to fail, in the past we would have seen federal and provincial governments lining up to support Bombardier. Indeed, the last time the company was in trouble, in 2016, the government of Quebec sunk $1.3 billion into its C Series jet program, gaining a 49.5 per cent stake in the project. The federal government later pledged $372.5 million in federal loans to its aerospace division.
A couple years later, in 2018, Bombardier sold a controlling stake in its C Series jet program to Airbus for $1 and laid off 2,500 workers in Quebec (the provincial government still has a 16.4 per cent stake in Airbus’ A220 program). Bombardier is now thinking of getting out of the partnership entirely.
The company’s rail division has also been plagued by problems. The company’s $1-billion contract to replace the Toronto Transit Commission’s (TTC) aging streetcar fleet was plagued by technical problems and it repeatedly missed its delivery targets. It was also criticized by Metrolinx, Ontario’s regional transit agency, for failing to produce light rail transit vehicles on time, which resulted in a lengthy court battle. Metrolinx did end up placing an order with Bombardier, though it was half the size of the original, and the TTC is now considering looking elsewhere for new street cars.
All this left many Canadians wondering what value they were getting for the billions of taxpayer dollars the company has received since the 1960s. And rightly so: companies that have a good chance of succeeding can generally raise money from the private sector; when they must resort to governments to keep the lights on, we should know something is wrong.
Luckily, politicians seem to be waking up to this reality. Responding to the report about Bombardier selling its business jet division, Pierre Fitzgibbon, Quebec’s minister of economy and innovation, said the company will likely have to sell off one of its divisions in order to meet the $1.5 billion in debt that it will have to repay next year. In other words: deal with it yourselves.
Quebec Premier François Legault also chimed in, calling the previous Liberal government’s $1.3-billion investment in the company a “mistake.” And given the flak Prime Minister Justin Trudeau took after the company accepted millions in government loans and attempted to pay US$32.6 million in executive bonuses while laying off 14,500 workers, hopefully he won’t touch it with a 10-foot pole, either.
Unfortunately, in typical Canadian fashion, the federal government did have the opportunity to provide Bombardier with an influx of cash that would not have come from the public purse, but chose not to. In 2013, Porter Airlines signed a conditional order for 12 C Series planes, with the option of purchasing 18 more, which would have allowed its regional service to expand to include flights as far away as Western Canada and California. The condition was that Toronto’s Billy Bishop Airport needed approval to expand its runway, in order to accommodate the jets.
It would have been a win-win for Bombardier, the airline and passengers in downtown Toronto looking for convenient access to longer-haul flights. But Trudeau’s Liberal government caved to pressure from Toronto Islands residents — who like to pretend they live in the country, rather than under three kilometres from Canada’s largest city — and those living in downtown condos, who were worried about noise, despite assurances that the jets were not any louder than Porter’s existing turboprop planes. In the end, the federal government blocked the plan, which could have provided Bombardier with upwards of US$2 billion in sales. As it turns out, Bombardier lives by the government hand, and dies by it.
Of course, unlike in 2016, the Montreal-based company is not on the verge of bankruptcy. The company is, however, heavily indebted and warning about sagging profits. But Textron’s reported interest in its business jet division and the fact that it has been in talks with France-based Alstom for a number of months about selling its rail division shows that many of its business units are viable and that there are private companies that may be willing to continue running them.
Rather than fearing the idea of foreign companies coming in and pillaging home-grown Canadian businesses, we should welcome the fact that they are willing to pump money into the economy by buying Canadian assets, while potentially doing a better job of running them in the future.

What's the over/under that Justin will be talking bailout by Dec. 2020?