M II A II R II K
Senior Member
Bombardier can make up for it's woes by throwing in additional 50 complimentary streetcars for free.
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Steve X
Senior Member
It's going to happen and they'll make the target for whatever is on the current assembly line now. They been making their deadlines for the past 6 months now.Could it really be??? Three streetcars delivered in May? Be still my beating heart!
The real question is how well they'll do with a second assembly line. Will they run out of parts again when they are consuming parts twice as fast.
Admiral Beez
Superstar
AIUI, BBR has always done well with subways and heavy rail. Perhaps expanding beyond their area of expertise and into discount LRTs was their downfall. I assume part of the motivation for cities buying LRTs over subways is vehicle cost (in additional to significant savings on system build and operating costs).
Given the perception that LRT is the pauper's alternative to subways, the client cities may expect that LRT vehicles cost significantly less. Thus on LRTs, there may be more pressure to outsource and find cheap inputs, something that may be outside the expertise of BBR, where expensive, locally-made subways and heavy passenger rail has been the focus.
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drum118
Superstar
It will be interesting to see TTC testing 2 cars this week once 4436 arrives. Its been 16 days since 4435 arrived and still hasn't reach its 600 km burn in yet and looks like it had some issues to go back to zero.
Looking at the overhead this past week, looks like 2018 will be the completion time frame and a reason all the cars are to have poles on them, not the plan 60. The plan schedule was the end of 2016 and this could be because of lack of funds to do the work.
Queen St overhead has been removed west of Victoria St and assuming to York St to allow the removal of the 2 bridges over the line. Wellington has also lost its overhead as well and for got to check to see if all of Richmond has the new overhead to replace the one that was removed for the rebuilding of the road.
Watch 3 505 loose their poles while turning onto Dundas off Church on Tuesday for the new overhead and have seen this at a few other location as well this past week.
I an off for the next week, as I am heading to Detroit for the Friday opening of their QLine and ride it and do some traveling. Want to see how the batteries handle the 60% off line as it will be the longest length I have been on for a battery car. 100% batteries cars are the future.
Looking at the overhead this past week, looks like 2018 will be the completion time frame and a reason all the cars are to have poles on them, not the plan 60. The plan schedule was the end of 2016 and this could be because of lack of funds to do the work.
Queen St overhead has been removed west of Victoria St and assuming to York St to allow the removal of the 2 bridges over the line. Wellington has also lost its overhead as well and for got to check to see if all of Richmond has the new overhead to replace the one that was removed for the rebuilding of the road.
Watch 3 505 loose their poles while turning onto Dundas off Church on Tuesday for the new overhead and have seen this at a few other location as well this past week.
I an off for the next week, as I am heading to Detroit for the Friday opening of their QLine and ride it and do some traveling. Want to see how the batteries handle the 60% off line as it will be the longest length I have been on for a battery car. 100% batteries cars are the future.
Davidackerman
Active Member
CEO of Bombardier is pushed out WSJ
Bombardier’s Pierre Beaudoin to Surrender Executive Role After Shareholder Revolt
Beleaguered transportation company says founder’s grandson will stay on as nonexecutive chairman
Jacquie McNishUpdated May 11, 2017 9:43 a.m. ET
Pierre Beaudoin has agreed to resign as executive chairman of Bombardier Inc. but will remain as nonexecutive chairman. Photo: Reuters
By
Jacquie McNish
TORONTO— Bombardier Inc. BDRBF 8.67% on Thursday said Pierre Beaudoin has agreed to step down from his executive role amid an investor revolt, but that he will remain chairman of the beleaguered transportation company.
Mr. Beaudoin, 54 years old, will resign as executive chairman effective June 30, following opposition to his re-election by some of Canada’s largest funds, but he will remain as nonexecutive chairman. A spokesman for the company said it won’t name a new executive chairman.
Mr. Beaudoin is the grandson of the company’s founder, and his family has voting control of Bombardier through a class of supervoting shares. Some of Canada’s biggest pension funds have opposed his reelection in a push for more independenceon the board of a transportation company that is struggling with product delays and other setbacks.
The opposition to his reappointment followed a controversial move last month to significantly improve the compensation of several Bombardier officials, including Mr. Beaudoin. The raises, which were rolled back, came after the company received about $1 billion in financing from the Quebec and federal governments.
Mr. Beaudoin said in a statement that he continues to support the company’s CEO, Alain Bellemare. Bombardier “is firmly on the right path, with a very strong leadership team now in place to execute its turnaround plan,” he said.
Mr. Beaudoin wasn’t expected to lose the vote for his re-election at a shareholder meeting in Montreal Thursday because of his family’s voting control. In a statement to The Wall Street Journal on Wednesday, the company said: “the vast majority of our shareowners are supportive of the company’s position and the turnaround plan we are executing. Based on frequent conversations with our largest shareholders we anticipate that this strong support will be seen in the results announced on Thursday.”
Bombardier is under pressure to improve sales of its CSeries commercial jet program, which has been plagued by delays, equipment problems and sales disappointments since plans for the project were unveiled more than a decade ago. On an earnings call Thursday morning, Mr. Bellemare said Bombardier delivered one CSeries plane in the first quarter and expects another two deliveries in the coming year.
Bombardier hasn’t received any new orders for the CSeries so far this year, a setback Mr. Bellemare attributed to a “soft” commercial airplane market and lingering concerns about jet engine deliveries from Pratt & Whitney, a unit of United Technologies Corp.
Bombardier cut its delivery guidance for the CSeries aircraft by more than half last year, citing engine delivery delays from Pratt & Whitney.
Although the engine still requires some “upgrades,” Mr. Bellemare said that “by and large, we have a very reliable engine on the CSeries.”
Write to Jacquie McNish at Jacquie.McNish@wsj.com
Bombardier’s Pierre Beaudoin to Surrender Executive Role After Shareholder Revolt
Beleaguered transportation company says founder’s grandson will stay on as nonexecutive chairman
Jacquie McNishUpdated May 11, 2017 9:43 a.m. ET
Pierre Beaudoin has agreed to resign as executive chairman of Bombardier Inc. but will remain as nonexecutive chairman. Photo: Reuters
By
Jacquie McNish
TORONTO— Bombardier Inc. BDRBF 8.67% on Thursday said Pierre Beaudoin has agreed to step down from his executive role amid an investor revolt, but that he will remain chairman of the beleaguered transportation company.
Mr. Beaudoin, 54 years old, will resign as executive chairman effective June 30, following opposition to his re-election by some of Canada’s largest funds, but he will remain as nonexecutive chairman. A spokesman for the company said it won’t name a new executive chairman.
Mr. Beaudoin is the grandson of the company’s founder, and his family has voting control of Bombardier through a class of supervoting shares. Some of Canada’s biggest pension funds have opposed his reelection in a push for more independenceon the board of a transportation company that is struggling with product delays and other setbacks.
The opposition to his reappointment followed a controversial move last month to significantly improve the compensation of several Bombardier officials, including Mr. Beaudoin. The raises, which were rolled back, came after the company received about $1 billion in financing from the Quebec and federal governments.
Mr. Beaudoin said in a statement that he continues to support the company’s CEO, Alain Bellemare. Bombardier “is firmly on the right path, with a very strong leadership team now in place to execute its turnaround plan,” he said.
Mr. Beaudoin wasn’t expected to lose the vote for his re-election at a shareholder meeting in Montreal Thursday because of his family’s voting control. In a statement to The Wall Street Journal on Wednesday, the company said: “the vast majority of our shareowners are supportive of the company’s position and the turnaround plan we are executing. Based on frequent conversations with our largest shareholders we anticipate that this strong support will be seen in the results announced on Thursday.”
Bombardier is under pressure to improve sales of its CSeries commercial jet program, which has been plagued by delays, equipment problems and sales disappointments since plans for the project were unveiled more than a decade ago. On an earnings call Thursday morning, Mr. Bellemare said Bombardier delivered one CSeries plane in the first quarter and expects another two deliveries in the coming year.
Bombardier hasn’t received any new orders for the CSeries so far this year, a setback Mr. Bellemare attributed to a “soft” commercial airplane market and lingering concerns about jet engine deliveries from Pratt & Whitney, a unit of United Technologies Corp.
Bombardier cut its delivery guidance for the CSeries aircraft by more than half last year, citing engine delivery delays from Pratt & Whitney.
Although the engine still requires some “upgrades,” Mr. Bellemare said that “by and large, we have a very reliable engine on the CSeries.”
Write to Jacquie McNish at Jacquie.McNish@wsj.com
AlvinofDiaspar
Moderator
Not completely out though, and it does nothing with the dual class share system that gives the family a majority of votes.
AoD
DSC
Superstar
Richmond still has no overhead from Victoria to York
Tulse
Senior Member
What exactly is a "non-executive chairman"?
BayStBoi
New Member
Means the Chair isn't part of the Company's management (i.e. the CEO).
Amare
Senior Member
It's one step in the right direction though, he was a large part of the problem that plagues this company.
Admiral Beez
Superstar
Take away the family and I'm sure the company would be broken up and sold. Siemens, Alstrom or an Asian player will buy up Transportation, while Embraer, Boeing or Airbus would buy up Aerospace. Whatever is left would be scrapped or sold off elsewhere. Whomever buys BBR Transportation would likely shutdown the Mexican plant, remove LRTs from Thunder Bay with focus only on heavy rail, whilst Aerospace would be entirely closed down in order to reduce supply and improve industry profitability.
The winners of such an acquisition would be BBR shareholders and Canadian taxpayers who no longer have to bail out this sh#tshow of a company. Losers are of course BBR employees and those of its suppliers who get canned.
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am29
Active Member
Allandale25
Senior Member
Probably 4436.
Steve X
Senior Member
Has to be. I don't think someone would have stole one from Lelise Barns and up it back on rail. 4401 is there to stay for another year or so.
thettctransitfanatic
Senior Member
4412, 4415, 4416, 4426 are running on the 511 Bathurst today.