Bombardier exec pay skyrockets.

[Rookie50]

http://www.financialpost.com/m/wp/news/ ... 2017-03-30

Oh Canada. 10 million for the CEO.

[7ECA]

Sounds par for most companies. You want to scream and rant about companies being propped up or bailed out, and then giving execs massive raises/bonuses? Look around, it's all been done before.

[JasonE]

Disgusting. They could have employed 1/3 of the people they laid off with that money.

[ditar]

That's par for the course. The executives always get bonuses and pay raises after a big round of layoffs for "saving the company."

[confusedalot]

Sounds par for most companies. You want to scream and rant about companies being propped up or bailed out, and then giving execs massive raises/bonuses? Look around, it's all been done before.

Sad but true. The canadian elite would rather have the reputation of being squeaky clean, whilst the oligarch system appears to be the real operating principle. just look at the board members, they are all connected in various ways. the current ceo is on the board, so has a say in his personal compensation.

he's done this before at pratt and whitney. same deal, take a lot of government money, kick a bunch of people out on the street, all the while, UTC, the holding company, reported 22 billion of profit that year, not operating revenue, pure profit, while taking taxpayer money.

it's the way of the world...........

[Siddley Hawker]

Not just Bombardier. Junior announced a 200 mil gift to Ford today. Last fiscal year Ford posted 10 billion in profits while Junior oversaw a 20 billion deficit. BOHICA!

[g5]

[Gino Under]

What poor judgement. Bad timing. And poor taste.
Shame on them.
I've said many positive things about this company these past couple of years but this was stupid. Pure and simple.
What a dumb move.
It may well be the way of the world but Quebeckers are pissed. Imagine the rest of the country?

Poor show,
Gino Under

[confusedalot]

http://www.cbc.ca/news/canada/montreal/ ... -1.4047290



apparently there are demonstrations that are in the works, according to the quebec news media. heard it from a pone call from a friend.

and I was led to believe that I was too ''sensitive'' he he he.....

[confusedalot]

Not just Bombardier. Junior announced a 200 mil gift to Ford today. Last fiscal year Ford posted 10 billion in profits while Junior oversaw a 20 billion deficit. BOHICA!

Man, it's worse than I thought. Thought I saw it all with the Pratt situation years ago. What's next?

[dashx]

Seem feel its rats jumping off a sinking ship.

Shameful.

[Heliian]

It's okay now, they promised to hold off on any raises until 2020. Just long enough for you to forget this bailout and then they can get huge increases because "it's been 4 years since any previous increase". Who do I have to screw to get one of those jobs?

['97 Tercel]

And I think the 'bonuses' in 2020 are based on the company's market value being 5 times what it is now. Have to be some nice orders come in to get share price up to about 10 bucks!

[7ECA]

There you go, not many companies willing to bow to public pressure and reign in massive wage increases for execs, even if it is just for four years. Not that I am applauding them by any means...

Compare that to the US big banks that got bailed out, they didn't give a rats ass what anyone thought.

[confusedalot]

Poor little things. How can you make ends meet on 6, 8, 10 million, per year, year after year? After all their net personal worth is only, what, 70-80-100-200-500 million? So they are poor in comparison to the billionaires and trillionaires.

Talk about the 99% and 1%. The whole system has become a bit of a joke.

[Gino Under]

No one. Not a single person, so far, has expressed any interest in, or concern for a rather larger Canadian aerospace industry should Bombardier collapse or fail as a result of this poorly timed "issue" over executive compensation and the ripple effect it would surely have in ruining other aerospace companies and their employees who do business either directly or indirectly with them.
The industry would go down like the Titanic. Or, at the very least, A.V. Roe. But, that's what the majority seem to want.

I wonder if the financial carnage Bombardiers' demise would leave, would be cheaper for "taxpayers" than staying the present course? And why should those executive contracts, contracts that were signed and agreed to before they took on the job of saving this company, be honoured? Who DOES that? Would you agree to those terms, shake hands and sign for the agreed to salary and bonuses if it meant your company might be saved? (Bearing in mind, you wouldn't have to pay a penny of those agreed to bonuses unless they performed to the agreed to performance targets in those contracts?) Naw. You'd tear those contracts up afterwards and tell those greedy cun*s to go fu*k themselves after they saved your ass and started to turn your company around. Leave them high and dry. Better still, "get a rope". Fukkum!

Never mind. Who gives a s*it about a loser company like Bombardier? Cut them off the corporate welfare tit and let them die. Show those mother fu*kers they're not getting away with it.

But what will we show those mother fu*kers who don't work for Bombardier? Not much conversation about that, is there?

Gino Under

[crazyaviator]

What 100 million and layoffs of 20000 be too much?

[confusedalot]

Actually there are some supportive comments on the other Bombardier thread referencing the bailout.

[rookiepilot]

Look, the fact of the matter, from my chair -- I analyse companies for a living -- is this is an incompetent company run by an incompetent management team overseen by an incompetent board.

I wouldn't give BBD a dime without those factors changing. And neither will anyone else with private capital.

Proof? One look at the train division.

IMO the entire company is full of rot, an embarrassment to Canada, and deserves to fail. The board should be sacked for allowing things to get this bad. That's it.

And the pay structure is completely obscene, and far beyond highly successful companies 10X BBD's size.

Those are the facts, and they are beyond dispute.

[Gino Under]

Interesting assessment.

One of this company's worst critics on BNN last week agreed with one thing about all this and that was their salary package as reported. In fact, his opinion was that they were below average by comparison.

Canadians will never get behind anything Canadian except ice hockey.

Gino Under

[rookiepilot]

Canadians will never get behind anything Canadian except ice hockey.

Gino Under

Why should I with one dime of my money? The CEO, and the entire board, should be fired for Gross incompetence.

Why is that a problem for anyone here to see?

If you disagree, Gino, Mail BBD a large cheque. Your money. Not mine.

I would short the stock into oblivion if it wasn't propped up by the government.

The only ones I see defending BBD are useless university academics, who themselves have never run a business, never existed outside a classroom.

They have zero credibility with me.

http://www.reuters.com/article/us-twitt ... SKBN17936A

Twitter, an unprofitable US company, -- at least their CEO hasn't been paid in three years. If he took 10 million as BBD's CEO is, they would lynch him. That's how it is down there, and why the US is successful at creating great companies, not the sheer embarrassment Canada is on the world stage, corporately. They don't tolerate continued poor performance, by and large.

And don't bring up the bank bailouts. If they hadn't done that, the entire system would have frozen. And that has been paid back, in spades. BBD will never, ever, pay back the bailouts over the years.

We're not in a financial crisis today anyway, BTW. Economies are roaring. And still BBD can't get out of its own way.

[rookiepilot]

The US invents great technology, drugs that save lives. Japan and Korea are leaders in cars. Germany, top machinery.

US? With every advantage, a powerhouse customer next door...we do...Pothead technology:

http://business.financialpost.com/news/ ... n-colombia

We signed a major trade deal. In Pot.

http://business.financialpost.com/news/ ... ana-market

Oh, and world class...scams and failed (short) "world class" companies.

Nortel
Bre - X
Valeant
Rim (almost)
BBD (close enough)

Don't complain, Canada. You voted in Mr long hair.

Never mind. I'll just wave my Canadian flag, check my house price again, and sing Kumbaya.

[7ECA]

...We're not in a financial crisis today anyway, BTW. Economies are roaring...

That's just friggin' hilarious. I'm always amazed at the greed and level of narcissism that Neo-Cons display when it comes to the almighty god that is money, and the glorious utopian system that is capitalism...

I can't wait until I start hearing the misinterpreted quotes from "The Wealth of Nations" next, Adam Smith will be rolling in his grave.

...The US invents great technology, drugs that save lives...

Right, most of it being the military industrial complex - which is heavily propped up by none other than the US Government. But, hey, Eisenhower was a crackpot. As for drugs, do remember that they are patented and then sold at rates that make it unaffordable for any average person to actually find a cure for what ails them. Not a problem though, just pull yourself up by the bootstraps and get a job - I mean, if you can afford to survive, you should.

[rookiepilot]

Greed?

Greed is taking my hard earned money to give to an incompetent CEO making 10 million.

That's greed.

Greed is taking MY money -- and giving it to the CEO of Ontario power corporation for more gross incompetence. That's greed.

Greed is taking my money and giving it to the 100,000+ civil servants in Ontario, making over $100 K per year. That's greed.

Let's get the definitions correct.

When the next recession comes, and people lose their homes -- this will happen -- while the rich civil servants laugh and mock us few productive in the private sector, while telling us to "pay our fair share" -- there will be massive demonstrations. There will be a lot of angry people out there at the waste in this country.

[CpnCrunch]

We signed a major trade deal. In Pot.

Well I guess there must be a lot of money in pot, as Tilray have a Gulfstream.