Planes, Trains, and a Money Pit

It's an example of bad business Canada-style. The third largest aerospace firm in the world is right here in our nation, and has reached that prestigious level on the backs (and wallets) of taxpayers. It is a business model that I had to examine and re-examine just because I could not believe what I was seeing. Consider:
The federal government gives / loans money to Bombardier to make airplanes, trains, ski-doos, and other modes of transportation. Then, the federal government acts as the marketing department for Bombardier by searching out and negotiating deals internationally. Ottawa then loans the cash to these international companies with the purpose of purchasing Bombardier equipment. What happens next?
From the after-effects of 9/11 to plain bad business decisions, many of these new 'customers' go bankrupt. The loans to these businesses never get repaid. The loans to Bombardier never get repaid. Thus, we are left with a situation where taxpayers are on the hook for the loans to Bombardier as well as the defaulted loans to the international airline companies. To top it off, the planes that were seized from these bankrupt companies are sitting back in Canada. Unused and collecting dust, a small fleet of aircraft sit as a shining example of what happens when government gets involved in business. Is it not possible for Bombardier to sell its own product?
The fact that Bombardier is a Quebec firm cannot be overstated. I don't remember hearing anything about such a sweet deal being set up for Western-based companies such as SPAR Aerospace (which is presently going through a major downsizing), nor would I want to. Government must learn to stay out of the business of being in business. Until then, as the woman in the newest Bombardier commercial states with fake actor pride, "...that's my train." She's absolutely right. We own those trains and planes. Too bad it has cost Canadians so much.























































