crs1026
Superstar
I will just leave this here.....
- Paul
- Paul
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- Thread starter drum118
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drum118
Superstar
nephersir7
Active Member
Alstom va faire une offre pour racheter le ferroviaire de Bombardier
Le groupe français réunira son conseil d’administration en fin de semaine pour finaliser sa proposition de rachat des activités ferroviaires de son rival canadien. Bombardier présente ses comptes jeudi et décidera ensuite s’il vend sa branche ferroviaire ou celle d’aviation d’affaires.
Alstom is about to make a formal offer for BBD's rail business if BBD decides to sell it instead of its aviation business.
Alstom first tentatively valued it at 7 billion euros, but lowered it after looking at the books.
Siemens and Hitachi are no longer interested.
Jonny5
Senior Member
Quebec Economy Minister Pierre Fitzgibbon now says there will be a "major announcement" tomorrow regarding Bombardier.
Amare
Senior Member
If they bailout Bombardier again, they might as well just send a cheque to them every month for the rest of their existence. The fact that a government would even seriously contemplate continuously putting funds into a company that consistently hemorrhages funds through piss pour corporate management is beyond me.
I'd love to be an exec at Bombardier; you get to manage a company as poorly as you want while collecting big funds knowing that the government will always bail you out no matter how pathetic your decision making skills are.
tiffer24
Senior Member
Failing up. Bombardier reports $1.6 billion loss...
Quebec aerospace giant Bombardier reported a $1.6 billion US loss for 2019 on Thursday, shortly after it announced that it's leaving the commercial aviation business.
The multinational corporation said late Wednesday that it sold its remaining stake in the A220 program — formerly known as the C Series — to Airbus.
Bombardier has been re-organizing its business in an effort to pay off a multibillion-dollar deficit. It released its financial results for 2019 on Thursday.
Under the deal, Airbus now owns a 75 per cent stake in the commercial jet program. The Quebec government, which is not injecting any new money into the program, owns 25 per cent.
Despite the Quebec government's $1.3 billion investment in the C Series in 2016, sales of the planes were initially slow, leading Bombardier to sell a controlling stake of the C Series program to Airbus in 2018 for $1.
https://www.cbc.ca/news/business/bombardier-financial-results-airbus-c-series-1.5462182
Quebec aerospace giant Bombardier reported a $1.6 billion US loss for 2019 on Thursday, shortly after it announced that it's leaving the commercial aviation business.
The multinational corporation said late Wednesday that it sold its remaining stake in the A220 program — formerly known as the C Series — to Airbus.
Bombardier has been re-organizing its business in an effort to pay off a multibillion-dollar deficit. It released its financial results for 2019 on Thursday.
Under the deal, Airbus now owns a 75 per cent stake in the commercial jet program. The Quebec government, which is not injecting any new money into the program, owns 25 per cent.
Despite the Quebec government's $1.3 billion investment in the C Series in 2016, sales of the planes were initially slow, leading Bombardier to sell a controlling stake of the C Series program to Airbus in 2018 for $1.
https://www.cbc.ca/news/business/bombardier-financial-results-airbus-c-series-1.5462182
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W. K. Lis
Superstar
Alstom Buys Bombardier Transportation for Seven Billion Euros (US$7 Billion - CDN$10 Billion)
See link.
I think that means the light rail vehicles for the Finch West LRT and Crosstown LRT will be made by the same company.
See link.
I think that means the light rail vehicles for the Finch West LRT and Crosstown LRT will be made by the same company.
drum118
Superstar
That has been the plan along with Mississauga cars. Hamilton was to see the same car as well..
As a note, that link is unofficially and they been wrong in the past.
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Amare
Senior Member
What an embarrassing fall from grace. A Transportation giant which did everything from commercial planes, business jets, trams, trains, locomotives, etc.. is now just a shell company which manufactures business jets. Heck, they might as well sell that off too since they'll some how find a way to run that into the ground.
This company is definitely a prime business case study that should be implemented in every university and college in North America, as to how inept management can destroy a company from the inside out.
Admiral Beez
Superstar
If they sell off their commercial aviation to Airbus, prop planes to Viking and trains to Alstrom what does Bombardier have left?
Just the LearJet and Global Express VIP jets?
Just the LearJet and Global Express VIP jets?
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Steve X
Senior Member
Other companies acquires smaller companies to improve their designs or incorporate them. BBD acquires companies and products and makes them worse.
Admiral Beez
Superstar
And to souse the taxpayer for incompetence-driven bailouts.
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OneCity
Senior Member
Meh. Not a big fan of the company, but the worst is likely over. I have a feeling they've turned the corner and will surprise some with a good year.
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CityStay
Active Member
Bombardier should have hired lobbyists from the so-called 'Canadian' auto industry, those guys are experts at hoovering up subsidies (and deflecting attention). We lost $3.5 billion on the GM/Chrysler bailout stock sale alone and that was on top of the 100s of millions of annual gifts we've been giving them for decades. These foreign owned branch plants suck up heaps of cash through programs like the 'Advanced Manufacturing Investment Strategy', 'Strategic Manufacturing Investment grants', the 'Next Generation Jobs Fund' and dozens of others while they keep closing plants and laying off employees. We made almost 3 million cars in 2000 and that has dropped to under 2 million in 2019. Were were the 6th largest auto manufacturer in the world in 2000 and are currently the 12th - and dropping.
These blood suckers get away with murder and nobody says a peep. I wouldn't be surprised if, when the last plant closes, we give them a $100 million 'Strategic Asset Mobility' grant to help offset their moving costs.
We're a country of hole diggers, tree cutters, animal herders and branch plant drones. We have to learn to stay in our lane.
These blood suckers get away with murder and nobody says a peep. I wouldn't be surprised if, when the last plant closes, we give them a $100 million 'Strategic Asset Mobility' grant to help offset their moving costs.
We're a country of hole diggers, tree cutters, animal herders and branch plant drones. We have to learn to stay in our lane.
androiduk
Senior Member
(Reuters) - Alstom SA (ALSO.PA) has reached a preliminary deal to buy Bombardier Inc’s (BBDb.TO) train business for more than $7 billion, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
Quebec pension giant Caisse de dépôt et placement, which owns a 32.5% stake in Bombardier’s train unit, has agreed to sell its stake to Alstom and buy a minority stake in the combined train company, the report added.
Quebec pension giant Caisse de dépôt et placement, which owns a 32.5% stake in Bombardier’s train unit, has agreed to sell its stake to Alstom and buy a minority stake in the combined train company, the report added.