FAWK you Bombardier

[eclipse1966]

one thing the Brazilians forget to mention is how much bribes they throw to their related partners to get special favours. I have a friend in the industry in Brazil and he said its overwhelming. Atleast here in Canada everything is more/less done above board. They unfortunately do not follow the same rules.

Screw the the Brazilians. Embraer is sad because they lossed out on their bid against Bombardier. Had they got the contract no complaint would have been issued. Embraer would love to have the same support that other companies have. They would like nothing more then to see Bombardier go under. Companies like Bombarier and Embraer are the under dogs on the world stage. Makes me want to fight for our own even more.

 

[T-team]

I just started shopping for new quad and well was leaning towards the 1000 XMR Renegade... our stupid Liberal Government just bailed out the worst managed company in CDN History and now they going to Sponsor... ya I know many die hards will say "oh brp recreational has nothing to do with Bombardier" bullsh!t I say....it's all affiliated.

Bombardier jumps into F1 with sponsorship of Quebec driver Lance Stroll | Montreal Gazette

I dont really have an opinion on this one way or the other but, Other than the fact these two companies... as stated... have NOTHING to do with each other... The BIGGEST mistake some companies make is when they get into financial trouble is stick their head in the sand. I have been talking to a couple people lately.. "Im not doing this this year" "Im not renewing my advertisements"... etc. etc... Im not sure how this makes any sense.... If your business is on a down slope.. If anything you should be trying to get your face out to the public MORE so than before. Just my two cents.

 

[Cat401]

It also makes sense from a business standpoint to have someone familiar with the industry as Chairman. I just went on Wikipedia for BRP and Bain Capital. I cannot see anything showing that Bain has sold off any of there 50% share in BRP. That would still make them the ones with controlling interest in the company. The Beaudoin family still sits at 35%.

Looks like they (Bain) are planning to divest....my bet is the Beaudoin family will gain total control

Bain Capital is weighing options for its stake in BRP Inc., more than a decade after teaming up with Quebec’s Bombardier family to buy the maker of Ski-Doo snowmobiles and Sea-Doo watercraft, people familiar with the plan said.

The private equity firm intends to cash out all or part of its stake this year, according to the people, who asked not to be named because they aren’t authorized to speak publicly. Options for Bain include selling the holding to another investor or proceeding with a secondary sale on the stock market, the people said. Bain hasn’t yet decided which alternative to pursue or hired bankers to handle a deal, the people said.

Bain holds 31.7 million multiple voting shares of BRP, according to a regulatory filing issued in May. That’ s equivalent to about 28 per cent of the company’s outstanding shares and 37 per cent of total votes.




BRP became a standalone company in 2003 when Bombardier Inc., Canada’s biggest aerospace company, sold its recreational-products business to investors including Bain, Caisse de Depot et Placement du Quebec and members of the Bombardier and Beaudoin families. BRP is based in Valcourt, the Quebec town where Joseph-Armand Bombardier started building snowmobiles in the 1930s.

A representative of Boston-based Bain didn’t respond to a request for comment. BRP and closely held Beaudier Group, the investment arm of the Bombardier and Beaudoin families, declined to comment.

Bain sold about 7.7 million subordinate voting shares of the company in a January 2014 secondary offering, which followed the sale of 6 million shares three months earlier.

Beaudier controls 36 per cent of BRP’s outstanding stock and about 49 per cent of the votes, according to the May filing.

 

[rightsideup]

Which government stepped in when the brp portion was up for bid and rewarded to other companies was it the feds or provincial and if it was provincial did that money really come from transfer payments from alberta

 

[skegpro]

I smell government bailout, looks like we are all gonna be stakeholders.

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[rightsideup]

Which government stepped in when the brp portion was up for bid and rewarded to other companies was it the feds or provincial and if it was provincial did that money really come from transfer payments from alberta

Frankly if a government bailed out brp and keep jobs in Canada I do not care but if a foreign entity bought them out and keep the jobs or even the brand a live that would have been fine.

 

[HotShotHarry]

I dont really have an opinion on this one way or the other but, Other than the fact these two companies... as stated... have NOTHING to do with each other... The BIGGEST mistake some companies make is when they get into financial trouble is stick their head in the sand. I have been talking to a couple people lately.. "Im not doing this this year" "Im not renewing my advertisements"... etc. etc... Im not sure how this makes any sense.... If your business is on a down slope.. If anything you should be trying to get your face out to the public MORE so than before. Just my two cents.

You are absolutely correct.... If business is slow.... Advertise to get more business! It works... ever notice how much the big companies advertise... Lots!

 

[everest8]

Dont forget to rant about Chrysler and GM........Buy a Ford Built without tax dollars......

 

[LennyR]

Dont forget to rant about Chrysler and GM........Buy a Ford Built without tax dollars......

You gotta be smokin some special $hit if you equate the auto bailout to this. I think bombardier actually has a designated line in their revenue budget about every 4-7 years specifically for the government GIFT they expect to receive, again. Phukk em, sink or swim, they been to the well to many times.

 

[Cat401]

Exactly.......Not a fair comparison..... I believe Chrysler and GM paid their loans back with interest.........nothing wrong with that.......Bombardier didn't pay back nothing....received more and then increased the wages of many of their executive by more than 50%

 

[snopro]

I wouldn't exactly say that guys. Some good reading if you do some searching on Google. It is believed Canada taxpayers are still out monies to the tune of $3.5 billion over the auto bailout back in 08-09. It appears the government bite is not that bad when talking any government loans to either the auto industry or Bombardier. To date Bombardier has only paid back a bit more than 1/3 of loans given to them and are saying they will not be able to pay the rest including this latest loan for many years. Interesting note to Lenny's and Cats comments though just for arguments sake. Lol. Bombardier is a Canadian company, GM is an American company and Fiat Chrysler is an Italian company but was an American company at the time of the bailout. The auto bailout was made because of a request from Obama's Treasury Dept at the time. The bottom line is its all about Canadian jobs and saving them. I believe everest 8's post has some merit though.

 

[Cat401]

hmmm, ok I stand corrected.

I somehow recall reading an article where all was paid in full.

 

[snopro]

hmmm, ok I stand corrected.

I somehow recall reading an article where all was paid in full.

There actually was an article Cat and there are also articles saying not? I think it sounds like the government may have forgiven a portion of the loans under the table? Lots of opposing views on it it appears?

 

[sweld]

From what I understand there was 2 loans. The first and smaller one was just to keep them afloat till they got there **** together. This one was repaid. The second and more money one was to bail them out and wasn't repaid.


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[Caper11]

Dont forget to rant about Chrysler and GM........Buy a Ford Built without tax dollars......

Dont forget the liberal government are the ones who bailed out Bombardier. The same govt who and wants to end the oilsands. Last time I checked, Bombardier products relied on the oil and gas sectors to survive in the first place.
Same as Ford,GM and Chrysler.


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[adamg]

Dont forget the liberal government are the ones who bailed out Bombardier. The same govt who and wants to end the oilsands. Last time I checked, Bombardier products relied on the oil and gas sectors to survive in the first place.
Same as Ford,GM and Chrysler.


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Bombardier products will work just fine on imported oil and gas products, Caper.

 

[eclipse1966]

I am in complete disagreement to give government handouts to companies then turn around and give the company execs a bonus or pay increases. Hwvr, government subsidies are almost a necessity to these huge corporations if we want to stay competitive. The EU is full of subsidies and so is the US. Even the US pet food industry receives millions from the US government to help their exports. I am sure if we dig deep there are many such subsidies happening to almost every imaginable industry out there especially if they export.

 

[imdoo'n]

Exactly.......Not a fair comparison..... I believe Chrysler and GM paid their loans back with interest.........nothing wrong with that.......Bombardier didn't pay back nothing....received more and then increased the wages of many of their executive by more than 50%

They had to pay all the sales staff on snow mud payroll. lol, and that doolaid ain't cheap

 

[Caper11]

Bombardier products will work just fine on imported oil and gas products, Caper.

How very liberal of you to say that. Lol


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[snopro]

I find it interesting that Trudeau gave an interest free
loan to a Canadian company for $370 million and is getting hammered but no one seems to care about the $840 million he just gave to Syria for the gas attack???