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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (16113)	2/24/2016 8:38:41 AM
From: Goose94	Read Replies (1) of 202936

Bombardier (BBD.B-T) Canadian Chamber of Commerce wants Ottawa to bail out Bombardier. An open letter released Tuesday, CCC head Perrin Beatty and Michel Leblanc, chief of the Board of Trade of Metropolitan Montreal, say the feds "MUST invest in Bombardier" and argue that the resulting losses from a shutdown of Bombardier's C Series new-jet program would "cost Canadian taxpayers more than the assistance being called for." Navdeep Bains, the federal Minister of Economic Development, said Tuesday the government is still studying the "business case" for throwing more money at the company. Bombardier, a family-run enterprise, wants a $1-billion (U.S.) equity investment in the C Series program to spread the risk with taxpayers. Quebec has already committed $1-billion (U.S.) to the overbudget C Series. "It is time for the federal government to announce its support for Bombardier and invest the US$1-billion needed to give our world aerospace leader the edge it needs," the letter signed by Mr. Beatty and Mr. Leblanc says. They argue that if Bombardier shuts down the C Series program for lack of cash flow, 2,200 jobs will be lost.

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