Despite massive public outrage, Bombardier is expected to approve the massive bonus package for executives at their annual shareholder meeting, ignoring the fact that they were bailed out with taxpayer funds.
The Trudeau government recently gave Bombardier $372.5 million in taxpayer money. The Quebec government has previously given Bombardier over $1 billion – all from the taxpayers.
It is simply a fact that Bombardier only exists today because of taxpayer-funded bailouts. They have failed so massively in the free market, that despite their billionaire owners, they have to come begging for help every time the going gets tough.
But rather than show respect for the taxpayers who saved them, Bombardier spit in our faces by approving a gigantic bonus package for their already-wealthy CEO’s.
When news of the bonuses leaked out, Canadians across our country were outraged, both at the arrogant elitism of Bombardier, but also at the Trudeau government for giving them money without conditions.
Justin Trudeau pathetically refused to comment on the bonuses, except for saying (in opposition to all the facts) that it was a “free market decision” – despite the fact that a taxpayer bailout kept them alive.
Even in the face of massive public anger, Bombardier has not cancelled the bonuses. Instead, they just “deferred” them for a few years. Clearly, they’re just hoping attention will fade and they can screw the taxpayers quietly.
Attention is shifting back to Bombardier and their disrespect for taxpayers. Bombardier’s annual meeting takes place this Thursday, and the issue of bonuses is expected to come up. Despite a group of smaller Bombardier shareholders saying they will oppose the bonus package, the Beaudoin-Bombardier family is expected by many to keep the bonuses in place – and since they own over 50% of the shares, there’s nothing the other shareholders can do about it.
Interestingly, despite their massive fortune, the Beaudoin-Bombardier family still came begging the taxpayers for cash rather than fix the problem themselves.
The elites get richer at our expense
The way Trudeau has given our money away to Bombardier without any conditions – which allows them to keep their giant bonuses – is a perfect example of how the elites do things.
They profit when times are good, and when times are bad they push the losses onto the rest of us.
Justin Trudeau is a servant of the elites and foreign interests, so he has no concern about taxpayers getting screwed over. If and when Bombardier approves their insulting and arrogant bonus package, expect Trudeau to just silently and weakly go along with it.