Bombardier clocking out of aviation
Thread Starter
Join Date: Mar 2019
Location: Zurich
Posts: 1
Likes: 0
Received 0 Likes
on
0 Posts
Bombardier clocking out of aviation
https://www.flightglobal.com/air-tra...136534.article
Looks like (a) Bombardier is completely disappointed in aviation business and is leaving, and (b) Textron will now own Cessna, Beechcraft, and Bombardier. Will be a strong manufacturer provided its approved by anti-trust authoritires.
VERY surprising move from Bombardier considering how good the A220 is. And if they think their transportation division will run smoothly in the rail segment, they are in for a huge surprise. They don't have one product that doesn't have at least two competitors. And if bailing out is their reaction to tight competition, how long till they put the entire company on a garage sale?
Looks like (a) Bombardier is completely disappointed in aviation business and is leaving, and (b) Textron will now own Cessna, Beechcraft, and Bombardier. Will be a strong manufacturer provided its approved by anti-trust authoritires.
VERY surprising move from Bombardier considering how good the A220 is. And if they think their transportation division will run smoothly in the rail segment, they are in for a huge surprise. They don't have one product that doesn't have at least two competitors. And if bailing out is their reaction to tight competition, how long till they put the entire company on a garage sale?
Originally Posted by ProPax
https://www.flightglobal.com/air-tra...136534.article
Looks like (a) Bombardier is completely disappointed in aviation business and is leaving, and (b) Textron will now own Cessna, Beechcraft, and Bombardier. Will be a strong manufacturer provided its approved by anti-trust authoritires.
VERY surprising move from Bombardier considering how good the A220 is. And if they think their transportation division will run smoothly in the rail segment, they are in for a huge surprise. They don't have one product that doesn't have at least two competitors. And if bailing out is their reaction to tight competition, how long till they put the entire company on a garage sale?
Looks like (a) Bombardier is completely disappointed in aviation business and is leaving, and (b) Textron will now own Cessna, Beechcraft, and Bombardier. Will be a strong manufacturer provided its approved by anti-trust authoritires.
VERY surprising move from Bombardier considering how good the A220 is. And if they think their transportation division will run smoothly in the rail segment, they are in for a huge surprise. They don't have one product that doesn't have at least two competitors. And if bailing out is their reaction to tight competition, how long till they put the entire company on a garage sale?
Arrogant company (weird stock class for founding Beaudoin family, invisible CEO that is paid way too much for someone who just sells divisions, the list goes on) that bit off more than they could chew. Will now be Alstom-Bombardier or something similar.
If they would have stuck to trains and business jets (and they should have kept BRP) they would be ok but delusions of grandeur. No military procurement going their way as opposed to Boeing and EADS was always going to be a big issue since they would always be accused of getting 'subsidies'. Don't get me wrong, this company is a master of getting handouts at various levels of government here in Canada but that particular double standard always grated me the wrong way.
End of an era, I hope Montreal still has an aerospace industry after all this.
Join Date: Aug 2007
Location: Switzerland
Posts: 604
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Twitter
The new rolling stock hasn’t made a good impression in German speaking Europe - lots of teething problems.
Laurence
Originally Posted by Twitter
The new rolling stock hasn’t made a good impression in German speaking Europe - lots of teething problems.
https://www.thestar.com/news/gta/202...star_web_ymbii
Thread Starter
Join Date: Mar 2019
Location: Zurich
Posts: 1
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by admiral ackbar
...weird stock class for founding Beaudoin family, invisible CEO...
Originally Posted by admiral ackbar
Will now be Alstom-Bombardier or something similar.
Join Date: Oct 2019
Location: Great White North of the 49th
Posts: 77
Likes: 0
Received 0 Likes
on
0 Posts
Truly the end of an era but debt has sunk the company. Quebec already bailed them out once and it’s not happening again. They have no way to meet upcoming repayments without selling. Even then they might come up short. The PTB burned this company into the ground. Really sad for this once shining star of Canadian aerospace. What’s left? Floatplanes, Otters and Dash.
Originally Posted by ProPax
Both are unknown to me. You mind to elaborate about stock class and "invisible" CEO?
I'd bet on Hitachi or Kawasaki.
I'd bet on Hitachi or Kawasaki.
As to the invisible CEO, he is compensated well above average (the previous CEO was the grandson of the founder and attended about 4 board meetings a year while pulling a multi-million dollar salary), gets billions from the government but is never around to answer tough questions when there are layoffs, etc. Company used to be admired by the people here but now that sympathy is gone. I have linked one example of egregious behaviour (not unique amongst CEOs granted) amongst many. This CEO was hailed as a saviour and an outsider but all he has done in the last few years is divest, divest, divest and collect bonuses. Don't need to be paid millions to do that!
https://igopp.org/en/cppib-backs-inv...are-structure/
https://www.cbc.ca/news/business/bom...plan-1.5112398
This is a good recap of the whole ordeal for QC and CAN taxpayers
https://www.cbc.ca/news/canada/montr...lout-1.5453012
The PTB burned this company into the ground.
Join Date: Oct 2019
Location: Great White North of the 49th
Posts: 77
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by moosepig
Powers That Be?
Originally Posted by l.garey
Neither has it in French-speaking Switzerland. Due for delivery in 2016, the final date is now expected 2021 - and access for wheelchairs has still not been fully resolved.
Laurence
Laurence
https://www.qt.com.au/news/queenslan...ts-ne/3359054/
Join Date: Dec 2018
Location: Canada
Posts: 170
Likes: 0
Received 0 Likes
on
0 Posts
Last edited by Old Dogs; 6th Feb 2020 at 20:52.
Join Date: May 2015
Location: Northwest BC
Posts: 13
Likes: 0
Received 0 Likes
on
0 Posts
Hmmm, a 1.5 bill bailout to save the company from a rogue take over and massive layoffs and they vote themselves a 50 percent extra bonus and then lay off the workers anyway.
Then to top it, the government gives them another 372 mill.
The sheer arrogance of these people is shocking.
After reading the facts, I hope the company dies a quick death.
Perhaps they can go back to snow mobiles again and make a go of it.
Just wow
Fog
Then to top it, the government gives them another 372 mill.
The sheer arrogance of these people is shocking.
After reading the facts, I hope the company dies a quick death.
Perhaps they can go back to snow mobiles again and make a go of it.
Just wow
Fog
Join Date: Jan 2008
Location: CYUL
Posts: 865
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Fogliner
Hmmm, a 1.5 bill bailout to save the company from a rogue take over and massive layoffs and they vote themselves a 50 percent extra bonus and then lay off the workers anyway.
Then to top it, the government gives them another 372 mill.
The sheer arrogance of these people is shocking.
After reading the facts, I hope the company dies a quick death.
Perhaps they can go back to snow mobiles again and make a go of it.
Just wow
Fog
Then to top it, the government gives them another 372 mill.
The sheer arrogance of these people is shocking.
After reading the facts, I hope the company dies a quick death.
Perhaps they can go back to snow mobiles again and make a go of it.
Just wow
Fog
Oh don't worry about the snowmobile division, Seadoo/personal watercraft division and motorcycle division all known as part of the BRP group, because they are doing very well... In fact they used to be part of the global company until the "family" bought them outright from the main company in a shady deal which is now fully controlled by the family and making money.
BTW, Bellemare the CEO, got a $26M bonus while asking for government help/subsidies to help them with their debts.
Join Date: Oct 2019
Location: Great White North of the 49th
Posts: 77
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Old Dogs
Thread Starter
Join Date: Mar 2019
Location: Zurich
Posts: 1
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Old Dogs
Join Date: Dec 2018
Location: Canada
Posts: 170
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by ProPax
Based on that article alone, I'd say, thank you, Quebec. If I understand it correctly, Quebec is so indignated by spending 1.3bln on the company when it was in trouble that they refuse to support it when it's on the brink of making billions on a successful if risky project. Whatever the margin notes are (CEO, bonuses, etc), it looks like an unprecedentedly obtuse move on their side. Killing a goose two days before it starts laying golden eggs. That's exactly what happened to Airbus, only France and Germany persevered and now they have a successful aircraft manufacturer.
That killed the project and forced the sale of the now Airbus 220.
Few products can survive a 292% tariff. 😏
https://www.seattletimes.com/busines...st-bombardier/
Originally Posted by Old Dogs
No doubt the management made a lot of mistakes, however, America, at Boeings request, implemented a 292% tariff on the C-Series.
That killed the project and forced the sale of the now Airbus 220.
Few products can survive a 292% tariff. 😏
That killed the project and forced the sale of the now Airbus 220.
Few products can survive a 292% tariff. 😏
Sorry, but that tariff mess had minimal long term affect on Bombardier's failure.
Join Date: Dec 2018
Location: Canada
Posts: 170
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by tdracer
That tariff was overturned and removed well before deliveries were scheduled to start, and years before Bombardier gave the C-series to Airbus.
Sorry, but that tariff mess had minimal long term affect on Bombardier's failure.
Sorry, but that tariff mess had minimal long term affect on Bombardier's failure.
Pease read the attached Seattle Times article.
