Bombardier is back in the news once again for the wrong reasons.
The latest uproar was the scheduled executive pay raises to the tune of a sweet 50%. Execs make millions and part of it is thanks to YOU.
Where's your bail out when you make a wrong move?
This for a company that is in massive debt, always finds itself cutting divisions and jobs because of over runs or missed targets and what not, and largely still exists because of mommy and daddy's subsidies from not one but two levels of government - provincial and federal.
The reason, as we're often told, is because other countries do it (think Embraer in Brazil) and the need tax dollars to compete.We need to throw money away in losing industries, you see?
They also play the nationalist drum of 'it's our brand' nonsense. Not to mention the ever so tiresome 'to save jobs' meme. If our economy can't absorb the closing of Bombardier then it doesn't say much for our economy and sense of entrepreneurship to begin with.
Of course, taxpayers never see a single damn of profits but we have to pay for their incompetence and losses that follow. Just another case of privatizing profits, socializing losses.
Bombardier is nothing something to be proud of at this point.
It's just a ward of the state and its executives are taking full advantage of taxpayers.
It's not our jobs to prop up corporations.
Unfortunately, until we exert more pressure on politicians to stop doing it, this madness will continue.
The latest uproar was the scheduled executive pay raises to the tune of a sweet 50%. Execs make millions and part of it is thanks to YOU.
Where's your bail out when you make a wrong move?
This for a company that is in massive debt, always finds itself cutting divisions and jobs because of over runs or missed targets and what not, and largely still exists because of mommy and daddy's subsidies from not one but two levels of government - provincial and federal.
The reason, as we're often told, is because other countries do it (think Embraer in Brazil) and the need tax dollars to compete.We need to throw money away in losing industries, you see?
They also play the nationalist drum of 'it's our brand' nonsense. Not to mention the ever so tiresome 'to save jobs' meme. If our economy can't absorb the closing of Bombardier then it doesn't say much for our economy and sense of entrepreneurship to begin with.
Of course, taxpayers never see a single damn of profits but we have to pay for their incompetence and losses that follow. Just another case of privatizing profits, socializing losses.
Bombardier is nothing something to be proud of at this point.
It's just a ward of the state and its executives are taking full advantage of taxpayers.
It's not our jobs to prop up corporations.
Unfortunately, until we exert more pressure on politicians to stop doing it, this madness will continue.
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