April 06, 2016

What are they hiding? Bombardier bailout report cost taxpayers $500K -- but you can't see it

Holly NicholasRebel Commentator

A new report on the Bombardier bailout that was requested by the previous conservative government and that cost half a million dollars has come to light.  

The report was commissioned to Deloitte, a consulting firm that provided the financial and market assessment of the company. Bombardier, a manufacturer of planes and trains, is asking the government for $1 billion dollars to aid in funding their controversial CSeries jet. The project has been delayed several times, allowing for competitors to get their own version of the plane to market and the company has run into financial difficulty.

Despite the issues, Justin Trudeau himself has praised the CSeries and the Liberal government is considering providing Bombardier with $1B in US funds, even though the Vice President of the company says that it isn’t necessary.

But what’s more is that the government has decided to keep the results of the report under wraps. Which probably suggests what we already know -- the company shouldn’t be getting a government handout.

Why would the Liberals be considering providing financial aid to the company, even though the company has said that they don’t need it? It is most likely because the government of Quebec is heavily invested in this project.

They too, have committed $1B  in US funds to the project in exchange for a 49.5% stake.

Not only would the Liberals be providing bailout money to a fledgling company, they’d be bailing the provincial government of Quebec out of a boondoggle that would be on the backs of taxpayers.

You must be logged in to comment. Click here to log in.
commented 2016-04-07 04:46:59 -0400
As Baby Trudeau once explained in an interview, “Canada belongs to Quebec.”
commented 2016-04-07 02:00:03 -0400
This never seems to end, does it?
commented 2016-04-06 23:51:28 -0400
Bombardier is essentially a Mom & Pop operation. If they can’t make a go of their business, then it’s time to cut your losses and shutter the doors before you lose your shirt. That’s what happens in the real world.
commented 2016-04-06 23:00:54 -0400
Lets see. We have a National airplane builder Bombardier (Illyushin) that builds airplanes that are bought by AirCanada (Aeroflot) and they are all going to be repaired in Quebecistan till death do us part. And this happy world will be reported by our national media CBC (Pravda).
Starting in goal for Team Canada Vladislav Tretiak
So much for free market capitalism.
commented 2016-04-06 21:54:43 -0400
I sure hope those jets aren’t burning fossil fuels, adding to the carbon footprint. That would be hypocritical. Opposed to the companies that use innovation to lower emissions
commented 2016-04-06 20:34:40 -0400
Thanks HOLLY!

Thanks J Carruthers for link
commented 2016-04-06 20:14:16 -0400
In my mind there is little mystery here. Government insiders and friends of government that have access to the report know how bad the situation at Bombardier really is and those “in the know” have sold their shares. The Feds and Quebec will not be lending taxpayer money but will force the divesture of the aerospace side of the business by taking a controlling ownership position with new shares under a restructuring. The current existing shareholders ( mostly small guys ) will get hosed. The Chinese will get a position and promptly take measures to get engineering and production of components that will allow them to build a competitor to the C Series aircraft, at which point the Canadian taxpayer will get hosed by holding devalued shares which will eventually become worthless. The Feds will dole out hundreds of millions to Ontario & Quebec to compensate their job losses and economic impact. What’s left of Bombardier will move to Mexico where they enjoy sunny ways.
commented 2016-04-06 14:30:12 -0400
Maybe our altruistic PM could show his loyalty by just buying a C-series for his fleet instead of just giving Bombardier more free money. Probably not as comfortable as his Airbus.
commented 2016-04-06 13:20:20 -0400
The Canadian built planes they are producing are of superior quality and absolutely perfect for Canadian and world short hauls. They are a credit to our aviation industry. Why, I have to ask, can they not be built at a profit? Something is not right.
commented 2016-04-06 12:30:33 -0400
tax me for polluting the environment, give it to bombardier which supplies the tools of the planet’s alleged demise and then chastise me for using them. the principles of this government are unsound at best. they border on the ‘delusional’.
commented 2016-04-06 12:25:49 -0400
bombardier is a prime supplier of the instruments which create the worst carbon footprint that the progressive liberals find so offensive.
the depths of their hypocrisy know no limits.
commented 2016-04-06 12:06:24 -0400
For the green-obsessed Liberal government in Ottawa, I wonder if this bailout of Bombardier will go though an “environmental assessment” to see how much each airplane pollutes the air?

Oh wait – this in in Quebec – never mind…..silly me, what was I thinking?!?!?!?
commented 2016-04-06 11:59:14 -0400
Can you imagine this bailout happening if their company was in Alberta.
commented 2016-04-06 11:50:30 -0400
The Federal Liberals, Ontario Liberals and all NDP are all about destroying industries that create revenue, jobs and taxes while funding their favorite industries that run at a loss. The evidence of this pattern is there for all to see.

Socialists truly are brain dead idiots!
commented 2016-04-06 11:45:07 -0400
Another Canadian success story – funding pure garbage.

Bombardier trains, rec vehicles and dash turbo props. The rest is worthless.

MARYANN KENNEY commented 1 hour ago

CBC would sell for $1 – no value. Bombardier would sell for same $1 – badly managed and stuck in a banana republic country – ka-beck!!!
commented 2016-04-06 10:32:04 -0400
commented 2016-04-06 10:26:00 -0400
we have been bailing out bombardier for years to the tune of billions. time for them to sink or swim on their own merits. their business model does not work, the constant bailouts are proof of that.