Guys, is this the only Canadian way of doing business?Thinking of sale assets to get money to pay off debt, to sustain operation, to off load pension liability, etc. Have you think about any of the benefit you can scoop are in the value of the assets are throwing away. No one give Bomber one more penny unless miracle happens or they do not want to kill the hen for future eggs.
Anybody buys Bomber assets paying premium price? Not likely since this is traditional industry!
Why no enough attention put on operation, study small minor problem? They are illegible, but they made you do not have money flows in on time. Bomber’s case is operation issue resulted finance issue, not the reverse unfortunately management put majority effort on putting fire on finance side and neglected on operation issue at time with less finance pressure.
The same thing applies to Bellemare, weather he is a professional manager? Just be shadow of somebody? And many people defend for his failure. He did not know the issue about... Why he did not know? Should he know it and lead the work on resolving operation issues? He should be a product salesman but he is just assets salesman.
Now Bomber may get the last chance to address real issue. Hope they can work the real issue on operation out. Guys, if your operation is strong, even if you have heavy debt load, you have good chance to access finance and gradually pay debt back. Market would believe you are able to pay back in the future. Is bomber in this situation? Quebec is trying to avoid putting more money in (worrying weather can get back in the future not mention about returns).
I'm none of insider/expert of Bomber's operation but followed their troubles for years have seen failures on shipping on satisfying customer again and again. Just kept selling assets to keep afloat and drew picture on sands. Can we grasp the last chance and do some real work?