Tag : corporate-welfare

Corporate Welfare Ninja

Passenger jet development might be way over budget, problematic and late. Toronto street car non-deliveries might be an international embarrassment. But there is one thing Bombardier does very well: obtaining federal financial support. According to Globe columnist Mark Milke

(http://www.theglobeandmail.com/report-on-business/rob-commentary/corporate-welfare-canadas-black-hole-of-transparency/article33956740/),

Bombardier (including the de Havilland part) has received more than 80 (!!!) federal assistance packages since 1966: one every eight months or so. The family owners have never allowed the federal government financiers any company ownership or management influence, relegating federal taxpayer support to a ‘contingent liability’. Bombardier’s owners have had more success at sucking taxpayer support than in delivering projects and products on time and on budget. That they have gotten away with this makes them true ninja masters of grantsmanship, gold star members of the corporate welfare hall of shame.