Tax payers bailing out Bombardier

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jambo101 jambo101's picture
Tax payers bailing out Bombardier

 After giving the company billions in taxpayer funded assistance the company is now laying off thousands and is still having the gall to ask for more handouts.

http://globalnews.ca/news/3017508/bombardier-announces-2000-job-cuts-in-...

 

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Misfit

My question is, how does a company that started out as a small, family owned manufacturer of snowmobiles from their back yard in the late 1940s diversify and expand within decades of formation into being a massive multi-billion dollar global train manufacturer and aerospace giant employing over 70,000 workers worldwide? For the last thirty-five years, the Federal government has been steadfast in its committment to cutting back on funding for social programs. When you look at Bombardier's meteoric rise to global prominence within that very same alarmingly short time span, it isn't hard to see where much of those federal tax dollars were most likely reallocated to. I believe that these recent government bailouts are just the tip of the iceberg on Bombardier's long and massive subsidization legacy.

bagkitty bagkitty's picture

As Rocky always ended up saying when Bullwinkle was going to pull a rabbit out of his hat.... AGAIN?

 

Mr. Magoo Mr. Magoo's picture

As a Torontonian, I can't help but to view Bombardier's struggles through the lens of our new streetcars, most of which haven't been delivered.

If the pizza place that didn't deliver the pizza you ordered were to experience "financial problems", might you be tempted to point out that if they need money, they could have delivered your pizza as promised, and you'd have given them some?

Misfit

And how many Torontonians were laid off when they shut down the Toronto business jet plant and relocated their manufacturing facilities to Mexico?

Unionist

I think I just wandered into the Canadian Taxpayers' Federation discussion board.

Mr. Magoo Mr. Magoo's picture

Bombardier admits it may miss 2017 TTC streetcar delivery target

Quote:

After months of assurances from Bombardier that the company was on track to meet its latest delivery targets, the Quebec-based rail manufacturer warned the transit agency this week that it will be a “challenge” to supply 70 cars by the end of 2017 as scheduled.

TTC CEO Andy Byford revealed the latest snag with the $1-billion vehicle purchase at a meeting of the agency’s board on Wednesday, where commissioners also voted to seek out other potential suppliers for future streetcar orders.

"But thank you, Toronto, for all those moneys", said Bombardier.  "Our executives are tired of eating tough steaks!"