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03-29-2017, 07:32 PM
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Banned
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Join Date: Oct 2013
Posts: 5,326
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Bombardier problems 2.0
When will people wake up and see how ridiculous this has become...
https://ca.finance.yahoo.com/news/co...160028660.html
Quote:
MONTREAL — Bombardier's senior executives saw their compensation rise by nearly 50 per cent last year at a time when it laid off thousands of workers, sought government aid and saw the first CSeries passenger jet take flight.
Total compensation for the Montreal-based company's top five executives and board chairman Pierre Beaudoin was US$32.6 million in 2016, up from US$21.9 million the year before, according to a proxy circular ahead of its May 11 annual meeting.
CEO Alain Bellemare received US$9.5 million, up from US$6.4 million in 2015, including US$5.2 million in share and option-based awards and a US$1 million salary. His annual bonus almost doubled to US$2.36 million.
Beaudoin's compensation increased to US$5.25 million from US$3.85 million a year earlier.
The chief financial officer and heads of business and commercial aircraft each received more than US$4 million, while the head of the railway division's compensation increased 93 per cent to US$4.7 million. All of the men were hired at various times in 2015 as part of a corporate renewal Bellemare put in place after he started in February of that year.
In the regulatory filing, Bombardier attributed the higher compensation to a number of factors, including achieving profit and cash flow targets, securing CSeries orders and completing the first flight of the Global 7000 business jet.
Bellemare was also credited with achieving earnings at the high end of the company's guidance, exceeding profit margin targets in all business segments and making significant progress on achieving the company's plan to revive its fortunes.
Company spokesman Simon Letendre added that a large portion of the compensation is not guaranteed.
"For instance, 85 per cent of the compensation of the president and CEO is at risk and 28 per cent is comprised of stock options whose value depends on the appreciation of the Bombardier stock, something that would of course benefit all shareholders," he wrote in an email.
Bombardier is in the midst of a five-year turnaround plan that has involved mass layoffs as it tries to regain its financial footing. It is eliminating 14,500 jobs around the world by the end of next year.
Shares of Bombardier (TSX:BBD.B) last year increased 61 per cent to $2.16 on the Toronto Stock Exchange. They gained three cents at $2.11 in Wednesday afternoon trading.
The company cut its loss to US$981 million last year, down from US$5.34 billion in 2015 despite lower revenues.
The federal government announced in February a $372.5-million loan for the CSeries and Global 7000 programs to be repaid over 15 years.
Last year, Bombardier received a US$1-billion investment for the CSeries program from the Quebec government in exchange for a 49.5 per cent stake. The company also sold a 30 per cent stake in its railway division to pension fund manager Caisse de depot for US$1.5 billion.
Bombardier also revealed Wednesday that former Quebec premier Daniel Johnson and ex-Bell and Nortel CEO Jean Monty are stepping down from its board of directors. They will be replaced by Camso CEO Pierre Marcouiller and Antony Tyler, former CEO of Cathay Pacific Airways and the International Air Transport Association.
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03-29-2017, 07:38 PM
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Banned
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Join Date: Sep 2012
Posts: 2,052
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Quote:
Originally Posted by Newview01
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Makes you cry that AVRO got the rug yanked out from under them with the Arrow....the most cutting edge fighter plane at the time...now as tax payers we keep getting bent over to subsidize an inferior company in Quebec that for the most part produces nothing but failure.
FTH
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03-29-2017, 07:54 PM
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Banned
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Join Date: Jan 2015
Location: Calgary, AB
Posts: 2,208
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Not to mention the interstest-free $372.5 million we gave them again in Feb...
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03-29-2017, 07:57 PM
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Gone Hunting
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Join Date: May 2007
Location: Between Bodo and a hard place
Posts: 20,168
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"Total compensation for the Montreal-based company's top five executives and board chairman Pierre Beaudoin was US$32.6 million in 2016, up from US$21.9 million the year before, according to a proxy circular ahead of its May 11 annual meeting."
That's more than the 30 million Trudeau ponied p in the last budget....for Alberta!!!!! 
__________________
I'm not lying!!! You are just experiencing it differently.
It isn't a question of who will allow me, but who will stop me.. Ayn Rand
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03-29-2017, 08:07 PM
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Banned
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Join Date: May 2007
Posts: 17,790
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Canadian taxpayer money going to friends of Liberals. I never thought I'd live to see the day.
Funny to see people still OK with tax increases, you know, to pay for healthcare, police and fire departments. 
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03-29-2017, 08:16 PM
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Join Date: Oct 2014
Location: NW Alberta
Posts: 139
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Quote:
Originally Posted by rugatika
Canadian taxpayer money going to friends of Liberals. I never thought I'd live to see the day.:
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I'm per 50's vintage. These clowns have lived on tax dollars as far back as I can remember. From both parties.
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03-30-2017, 07:21 AM
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Join Date: Mar 2010
Location: Calgary
Posts: 2,668
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The pigs are at the trough again.
__________________
Often I have been exhausted on trout streams, uncomfortable, wet, cold, briar scarred, sunburned, mosquito bitten,
but never, with a fly rod in my hand have I been in a place that was less than beautiful.
My blog - casting on the waters
fishing regulations and facts on fish handling
Fishing Regulations
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03-30-2017, 07:35 AM
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Join Date: Dec 2008
Location: Camrose
Posts: 45,099
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Bombardier should not be receiving any federal money, and if they weren't based in Quebec, they wouldn't be getting any.
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Only accurate guns are interesting.
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03-30-2017, 08:35 AM
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Join Date: Feb 2012
Location: Blackfalds
Posts: 6,945
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They should let this poorly run company run its course into the ground. No tax payer money
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03-30-2017, 08:50 AM
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Join Date: Jul 2009
Location: GP AB
Posts: 16,228
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Nothing to see here, move along, all of you get back to your taxable work......
__________________
'Once the monkeys learn they can vote themselves a banana, they'll never climb another tree.'. Robert Heinlein
'You can accomplish a lot more with a kind word and a gun, than with a kind word alone.' Al Capone
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03-30-2017, 09:45 AM
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Join Date: Sep 2015
Location: Southern Alberta
Posts: 1,786
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Stunning....simply stunning.
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Common sense is so rare these days, that it should be considered a super power.
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03-30-2017, 10:56 AM
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Banned
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Join Date: Jun 2011
Posts: 1,556
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Front row seats to the greatest disaster Canada has ever seen...PRICELESS.
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03-30-2017, 11:29 AM
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Join Date: Aug 2011
Posts: 5,160
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Lost track of the number of conflict of interest issues this government has produced...so this is not really surprising. Quebec liberals funneling tax dollars to their friends, who would have guessed
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“Nothing is more persistent than a liberal with a dumb idea” - Ebrand
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03-30-2017, 11:32 AM
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Gone Hunting
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Join Date: Jun 2015
Location: 503
Posts: 979
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We have to bear in mind that there are two classes of shares in Bombardier - one class that is exclusively held by the family, and one class that is publicly traded. The company executive is top heavy with family, thus the generous bonuses paid to them by us the taxpayer as a reward for them screwing up royally. They will continue to receive these bonuses regardless of performance!!!
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Artificial intelligence is no match for natural stupidity!!
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03-30-2017, 11:43 AM
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Join Date: Feb 2012
Location: Edmonton (shudder)
Posts: 4,635
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Personally, I think any publicly traded company that needs to be bailed-out should immediately have the entire executive fired. It is their leadership which lead to the need for assistance. These people have proven they are unable to control the company and should be turned loose before even 1 government dollar of assistance is issued.
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03-30-2017, 01:25 PM
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Join Date: Mar 2010
Location: Calgary
Posts: 2,668
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__________________
Often I have been exhausted on trout streams, uncomfortable, wet, cold, briar scarred, sunburned, mosquito bitten,
but never, with a fly rod in my hand have I been in a place that was less than beautiful.
My blog - casting on the waters
fishing regulations and facts on fish handling
Fishing Regulations
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03-30-2017, 02:36 PM
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Join Date: Jul 2009
Location: Parts Unknown
Posts: 1,217
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Bombardier Bailouts
We're invested in Bombardier (TSX:BBD.B), whether we like it or not.
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03-30-2017, 03:21 PM
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Moderator
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Join Date: Feb 2015
Posts: 7,636
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Not much equates to being handsomely rewarded for sucking at your job and running a company into the ground.
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03-30-2017, 03:32 PM
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Join Date: Jan 2012
Location: 204
Posts: 5,424
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Suck at their job?
Why would they do anything different if the federal gov is going to keep throwing money at them?
They kept the money coming in, and that's why they get bonuses.
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"I like to quote my own quotes" ~ Dewey Cox
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03-30-2017, 06:24 PM
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Join Date: May 2007
Location: Central Alberta
Posts: 21,399
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Quebec is a cesspool. Graft and corruption are the name of the game there. former Montreal mayor is going to jail.
https://www.thestar.com/news/canada/...onviction.html
Now if Denis Coderre could join him. 
Grizz
__________________
"Indeed, no human being has yet lived under conditions which, considering the prevailing climates of the past, can be regarded as normal."
John E. Pfeiffer The Emergence of Man
written in 1969
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03-30-2017, 08:37 PM
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Join Date: May 2007
Location: South West Alberta
Posts: 804
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Beware of brokerage houses that promote the Bombardier stock. I learned the hard way. The only winner is the mafia palm greasing Bombardier Family and directorship. The loser is the ordinary shareholder that buys on the market a overvalued government subsidized company. I hope someday this criminality is exposed for what it is worth.
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03-31-2017, 12:19 AM
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Gone Hunting
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Join Date: Sep 2010
Location: North of Peace River
Posts: 11,346
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No Prime minister is in power for life.
Shiny Pony knows he will need a job in a few years, maybe sooner then he thinks, so he is buying a job, using our money.
No big surprise there. That's what you get when you hire someone with privilege.
People will never learn. This is what brought down Rome and so many other civilizations.
We have NOT learned from history, we never will.
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Democracy substitutes election by the incompetent many for appointment by the corrupt few.
George Bernard Shaw
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