And they’re facing an investigation into a stock sale program by their executives.
The ‘stellar’ leadership of Bombardier CEO Alain ‘Bailout’ Bellemare continues.
Bombardier stock has plunged again, and is down over 12% today as of this being written (11:50 central time).
The stock hit a two year low.
Bombardier’s plunge follows reports that the financial regulator in Quebec – the Autorite des Marches Fiananciers – announced that they are investigating a stock-sale plan by Bombardier executives.
The executives have also been ordered to suspend stock sales.
As noted by Bloomberg, top Bombardier execs are seeking to offload tons of shares.
Bailout Bellemare is trying to sell over 7 million Class B shares, CFO John Di Bert is trying to sell over 4 million shares, and Chairmen Pierre Beaudoin is seeking to sell over 3 million shares.
Its an interesting way to show ‘confidence’ in the company to see top Bombardier execs trying to offload tons of shares.
Despite all the bailout money, it seems the Bombardier executives aren’t good at anything except making themselves rich.
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