Canada Investing in Bombardier: It is a good thing for Canadians?
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Quebec, Canada - March 24, 2016 - 13:00
Canada Investing in Bombardier: it is a good thing for Canadians?
Would it really be better for Canada, for us, the people at large, the flock of taxpaying citizenry, to let a foreign private company take all the profit from such an investment? An investor from abroad who will, slowly or not, end up relocating all Bombardier operations, offices, factories, R&D… to remote pasture.
A foreign owner from a country (and probably with the help of such country) thus reaping the benefits from all the corporate and individual taxes, investment in real estate, investment in infrastructures such as building, airports (Mirabel operating cost is paid by it's operators such as Bombardier, Montreal Trudeau and Toronto Downsview airport where Bombardier has factories and offices at them all), and more!
Indeed, this will equate to surgically removing the backbone the Canadian Aerospace industry, to blast it away to kingdom come, not merely break it.
Bombardier's management happens to see a great opportunity for Canada to push its Aerospace industry even further ahead and prefers to let the governments of Canada and Quebec be part of it!
Why? The true explanation resides in the fine print of the Joseph-Armand Bombardier legacy. A journalist could entertain you at length as to why in the world Valcourt, Quebec, is still the HQ of BRP, I'm sure. But why has the Bombardier/Beaudoin Family maintained, --until the present days--, its heart in Valcourt, namely the BRP R&D, the Design Center, the Snowmobile factory… the jobs? Quite simply, this state of affairs is indissociable from the set of values put forward by the founder himself.
Call it for what it is: the irrepressible inbred desire of Joseph-Armand Bombardier to Stay, to Help and Support his fellow citizens First! Bombardier is now a much larger company, granted! Yes, an International company who needs to have operations around the world to stay competitive, to win contracts on other continents. But still, Bombardier always kept its heart where it all started, in Canada, thanks to the Family. It would have been very different if the Family did not have the majority of the vote/control over Bombardier Inc.!
We can pretty well understand what would have happened by now, following a takeover by foreign entities. China offered $8 Billion for 50% of Bombardier Inc. just a few months ago, while trying to take control of Bombardier Transport.
We must not let jealousy take over! At times, I'm left wondering why doesn't the Family just let go, sell everything, "cash in" and get out. To part once and for all with all the ugly bashing going on about them, the "the control over the vote" foolish comments… They must be very strong, indeed, fighting to keep the heritage in Canada, the values the founder taught them.
Now is the time to decide… Either we, as Canadians, want to be part of this investment, or we don't. We will be the only ones to blame if we don't, and I trust our leaders in Ottawa to have grasped this very clearly.
"United we stand, divided we fall.", Abraham Lincoln