RE:RE:AC vs BBDAt the time of the CSeries fire sale, I remember saying
"MOTHBALL" the program take the losses, after delivering the sold CSeries planes then, stop production.
This would have been a tough decision to make at the time. But we would still have had the CSeries, and maybe Boeing, would have paid a fortune to buy it, when the 7 Dirty 7 was grounded. Even if Boeing wouldn't have paid the price, we still would have had the program.
"IT" would not be in the hands of Airbus, or in the hands of French/Europeans now.
This is EXACTLY why I say that the fault lies with management. I think it was PB, and not Bellemare, because PB ran the company.
This Mothballing of the CSeries would have saved the company a huge expense in Ramp up etc.,
and we would not have paid Airbus more money for the program that we gave them for free. Plus it would still be ours.
So blaming the Government here is not right. The Canadian Govt doesn't own the Bomber assets. PB and the Family does. AB was a puppet manager, and didn't help PB make the right decisions. If he had advised PB well (as well as his salary was)? We may still have the CSeries, or have a lot money if we sold it.
This JV with Airbus was a big BLUNDER. Btw. I hope no one here says that I'm saying this, because I have hind sight now.
I was saying this from day of the JV. Having said that. Hind sight is 20/20 and this what should have happened. Now i see why getting rid of BT was the way to go before going into a JV with Airbus, because of all the cash BT would have brought to save the CSeries and bring the debt down, and then Mothball the CSeries after the close of BT deal. This was the best way to go. Because all the other asset sales were not enough to help the Bomber cashburn at that time. The only reason I'm saying sell BT sooner was because these idiots (PB, AB) knew how bad the Legacy projects were in BT.
Again. A good Captain of a ship is only discovered when there is big waves in the sea hitting your ship. So PB and AB were bad Captains under preasure, when all these proper decisions had to be made. In fact, you can argue that AB and PB made the opposite or wrong decisions regarding the Company.
This is where we are now. Let's see if we can get some 3% loans for our LTD from the market, and get some more vaccene shipments so we can get our economy going.
Cheers
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flamingogold wrote: What you say is especially true about BBD management making bad decisions and therefore are not worthy of the extra financial assistance.
However, your first sentence could apply to so many businesses that are hurting and failing due to government mandated shutdowns, many which are well run operations and yet they won't receive extra special monetary treatment. Think about all the indoor dining establishments, gyms, and salons... many which have been unfairly scapegoated during this crises.
It appears the financial handouts to business will be based on their overall importance to the entire economy and then individually whether they are worthy of it. Unfortunately, many well-deserved mom and pop entrepreneurs will suffer.
stockitnow wrote: Air canada got cheap money from government because the government has put flight restrictions that have hurt airlines to fly and make money. AC has lost revenue because of government regulations. Bombardier lost revenue due to badly managed programs. No regulations has been put in place to shut Bombardier factories down. AC jobs impact the country and bombardier mostly in Quebec and Ontario.