RE:VolumeWhat I meant to say about volume is that the commercial airline business is all about volume. The margins in the long term are very thin and they won't even exist if you can't get the volumes high enough to bring supplier costs down. If the competition gets the jump on you in terms of volume, look out. Bellemare and Di Bert could see where this was going long before the US ITC tariff fiasco and were trying to make that alliance. There was no way we were going to be able to sell and service and make money off the CS before it brought the whole company down. The JV was inevitable and was better than sticking an Arrow in it and letting it fade into Canadian folklore (I guess, though...). I assume we get a dividend with each plane sold and will be a supplier, and in 7 years when they buy us out, we will recover the money we are obligated to further invest in the program. Anything beyond that is anyone's guess. The plane will be sold at a discount to list price as are all planes. Suppliers, including Bombardier, will lower costs with higher volumes, and is some years the plane will make money. The plane will become a commodity and no one will talk about the discount. The recent investment in the CRJ was minimal and not the kind of captial cost that will take a decade to pay down. For now, it competes with the E195-1 in the US. True, the E is better liked by the flying public, but the CRJ is more cost effective for airlines to fly. The problem is that the CRJ isn't selling in volumes. Delta did us a deal but I doubt we will make much money from it. Delta gets good deals. The CRJ needs to be moved to a low cost airframer where an older design like this belongs, especially if volumes cannot be achieved. It had its day. The Q400, another neglected plane because of the CS, is also too costly and needs to be JVed to India or China. Great plane, best plane but even with a 76 cent dollar I would bet it doesn't make money. Where we make money is with the business jets. This is the good news. The Challeger, 5500, 6500 and the 7500 will make us money. The CFO will be happy to hear of their sales. I don't know what we do with commercial but I think it is over. What we have are excellent engineers and perhaps they could design the CS 500 or the next big thing or just little things for others under contract. As a long, I look forward to the Aug 2 financials. If they are good, I suspect that the CFO is being listened to. Airbus knows how to sell planes in volumes and can see the long term profitablity and they have the financial strength and experience to do so. Time to focus on business jets and our ever improving trains. Looking forward to a JV there too!