Airbus takes Bombardier to the cleaners with C Series deal – Taxpayers and workers maybe on the hook

 aircraft takes off to participate a flying display as an Airbus A380, the world's largest jetliner, waits on the taxiway during the 51st Paris Air Show at Le Bourget airport near Paris, in this June 2015 photo. (Pascal Rossignol/Reuters)

A Bombardier CS300 aircraft takes off to participate a flying display as an Airbus A380, the world’s largest jetliner, waits on the taxiway during the 51st Paris Air Show at Le Bourget airport near Paris, in this June 2015 photo. (Pascal Rossignol/Reuters)

Oct 23 2017 – Kevin Yaworski – Public Advocate

“Tax payers of Canada and Quebec … got taken to the cleaners”

Over $6 Billion in funding or guaranteed loans from for Bombardier from Federal and Quebec Government friends.

$700 Million still owing over 3 years with taxpayers and workers possibly on the hook again.

There is some good news if it isn’t false and misleading.

Airbus CEO expects to sell ‘thousands’ of C Series aircraft

No plans to buy out Bombardier’s stake in C Series venture, Airbus executive says

http://www.cbc.ca/beta/news/business/airbus-enders-cseries-bombardier-1.4363895

If Airbus moves C Series parts assembly to the US to avoid murderous tarrifs there will be huge job losses in at least Quebec.

If this doesn’t happen or regardless if it was this hard to try and break into the 100+ seat jet liner industry that they had to rely so heavily on taxpayers and risk so much why did the government’s allow this. Sounds like corruption similar to what being exposed with Bombardier rail division in at least Europe and Russia as well as these execs getting huge bonuses and stock options while the Corporation gets corporate welfare on the backs of tax payers.

Canadians, Quebecers and industry workers need to collectively demand the truth from the corporate execs and their elected and appointed officials. If needed they need to use FIPPA, Ombudsman and the Courts to get it.

Then severe enough consequences for those responsible so it is a proper detergent including restitution if convicted of breach of trust or other serious crimes. If so the Crown needs to call for the sections of the Criminal Code to be used during sentencing.

For Breach of Trust minimum is 5 years and up to 14 years in prison. For restitution if criminals have already spent the funds then the Crown needs to request or Justice / Coury order forfeiture of property from proceeds of crime or a fine in the amount of the property if they cannot be made subject to an order. e.g. Property(s) in … or …

If this still not enough you would hope their pensions and other investments would be considered. If they fail to pay the fines they are incarcerated longer.

https://beta.theglobeandmail.com/opinion/editorials/globe-editorial-bombardier-wins-airbus-wins-taxpayers-their-money-is-now-airborne/article36634406

https://www.theglobeandmail.com/report-on-business/rob-commentary/airbus-takes-bombardier-to-the-cleaners-with-c-series-deal/article36612493/

Related

Has Canada been subsidizing a corrupt corporation for years?

https://yaworski.net/2017/08/27/has-canada-been-subsidizing-a-corrupt-corporation-for-years/

Information on other allegations of corruption but in Winnipeg and more on what the Crown and Justice Ministers directing them need to do.

Charges pending in at least the Winnipeg Police HQ and Caspian Construction Corruption Scandals – is there more

http://wp.me/p1fJaD-11w

About Kevin Yaworski

I use my blog to write about things I find interesting or that I think are matter of public interest.
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