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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (51745)	11/9/2018 7:08:35 AM
From: Goose94	Read Replies (1) of 203520

Bombardier (BBD.B-T) is selling its Q400 turboprop business to West Coast plane maker Viking Air and slashing 5,000 jobs as the Montreal train and plane maker unloads non-core assets and speeds toward a future tied to luxury jets and trains. Bombardier announced the deal Thursday in tandem with third-quarter earnings, part of a series of measures that also includes the sale of its private aircraft flight-training operation to CAE Inc. Net proceeds from the two transactions are expected to be about $900-million (U.S.), Bombardier said. The moves, as well as the third-quarter performance, triggered significant concern among Bombardier stakeholders as they take stock of a company in rapid transition. In Quebec, where taxpayers bailed out the C Series program in 2016 with $1-billion (U.S.), the Parti Quebecois called the layoffs "a catastrophe." The province will suffer half the new job cuts. Investors pushed the stock down 24 per cent to $2.41. "[What we're seeing today] raises questions about management's credibility and ability to complete a successful turnaround," said Cai von Rumohr, an analyst with Cowen equity research.

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