Bombardier - Who Calls The Shots - Scary? Depends With Whose Money I Suppose...
Bombardier Inc. Chairman of the Board, Pierre Beaudoin
Click Like to Follow Fliegerfaust Facebook page to get the News ASAP / Share to share this post now.
Basically, what Isabelle Dostaler* dares to say out loud is what many people are saying very quietly (see video of a portion of her interview here)
What Madame Dostaler brings up are very valid points... complete interview here
Here's what I think as well... Basically, the past few years has shown that Pierre Beaudoin should no longer be at the top management of Bombardier Inc. The current Management Board seems insidious with "yes man" and no real Bombardier Inc. owner representation, leaning to the majority vote holder on the board, scared to say otherwise too loudly, also looking at the P. Beaudoin accepted board decision to increase his compensation from $3.85 million to $5.25 million as "Chairman of the Board"... A job normally paid $200 to $300 thousand a year... especially when you have a huge share/ownership position in the company, where getting the "stock price" (market valuation of the company) UP is the way to make sure everyone is working with the same real goal with the proper "incentive", increasing the company's value, not sucking up a comfortable $ cash position...
What seems needed, and missing still so far, is a real representation of the investors/owners, especially the large one, i.e. Government of Quebec (49% of CSeries) and La Caisse de dépôt et placement du Québec (30% of Bombardier Transport + Bombardier B and A shares as well) at least.
Basically, if the Bombardier/Beaudoin family with only 17% ownership of Bombardier Inc. and 51% of the vote wants to play "sorcerer's apprentice" with the company, it should be up to them to buy the majority of the asset with "their money", as she pointed out! I can't disagree!
As with Madame Dostaler and others, I've tried to explain and defend what the company does and still do, but here's a time where more structural changes are necessary, but at the real top this time… It would be good for everyone, from the employees to the shareholders, expecting sound decisions to be taken from the REAL TOP down with all the issues having be reviewed and discussed with "real representative of the ownership" of Bombardier Inc.
*Isabelle Dostaler is Professor, Department of Management at Concordia University / John Molson School of Business, Montreal.