Bombardier Cashes Out While Taxpayers Get Stiffed...
Bombardier received its first taxpayer subsidy in 1966, and in the half century since has received more than $4 billion from Canadian taxpayers.
Click Like to Follow Fliegerfaust Facebook page to get the News ASAP / Share to share this post now.
June 28, 2019 - by AARON WUDRICK for torontosun.com
- Bombardier received its first taxpayer subsidy in 1966, and in the half century since has received more than $4 billion from Canadian taxpayers.
Imagine pouring billions of dollars into a business and not being able to tell if you got anything back in return.
That's the real-life story of Canadian taxpayers' relationship with Bombardier, the hapless Montreal-based aerospace company, which today announced it was selling off its money-losing regional jet business to Japan's Mitsubishi Heavy Industries for $550 million.
Good for Bombardier, you might say, to pocket a cool half billion.
Or at least, good for their shareholders (not, read below), including the powerful Beaudoin-Bombardier family who hold a controlling stake (and who as of last year had a net worth of $2.8 billion.)
Canadian taxpayers, meanwhile, having been forced to invest in the company for decades, will pocket nothing...
- Charles Bombardier : "keeping control of the company..." (meaning, not the shareholders or the business)
- Bombardier Inc - It's Real Value, or How Much Longer Would the Bombardier/Beaudoin Family Last Trying to Keep Total Control?