Dear editor,
I have just heard that we (the taxpayers) are about to give a repayable loan to Bombardier for $375,000,000.
It is hard to understand how this company needs to rely on the Quebec government — and now the federal government — to keep operating.
I do see why governments would want to help so as to keep people employed but I remember Bombardier threatening to move to another country.
I call that extortion.
My concern and question is this: Are the board of directors and the company executives still receiving their full re-numeration; their excessive bonuses and all the other benefits that are granted these positions? It is very obvious that this stinks of total mismanagement and hence these people are not earning their pay. There should have to be a total repayment of all and any bonuses paid to these directors and executives, and no bonuses or rewards should be given since that would mean that the taxpayers are rewarding this poor performance. Helping a company should have very strict and stringent rules attached so the company never leaves Canada, and there is a large reduction in the paycheques with no bonuses allowed for any management positions.
Have these queries ever been raised in the House of Commons? I have never heard reporters and the media raise them. Do you believe that stringent rules regarding bonuses and any other rewards for directors and executives need to be put in place before the population of the country helps corporations and companies? I do not agree with using taxes to bail out overpaid directors and executives and reward them for mismanagement.
Allan Jonsson,
Campbell River
