Here you will find one of the many reports on the excessive bonuses Bombardier top executives have awarded themselves, for ‘outstanding performance.’

They appear to have backed down, but they really haven’t. They’ve ‘deferred’ half of the outrageous bonuses. I’ll bet they’ll still cash in when they retire or are fired.

Bombardier is not well-managed. I’ll give some examples:

• The C series airplane. It is well behind schedule. The company has lost billions of dollars on it. They are being bailed out by Canadian governments.
• Incompetence with airplane subcontractors. When you sue each other, you’re not managing the relationship very well.
• Incompetence with light rail manufacturing and delivery. Metrolinx is trying to break the contract, as the vehicles are not forthcoming.
• Incompetence with streetcar manufacturing and delivery. The TTC is trying to find another supplier as these streetcars are years late.

Bombardier executives are not managing Bombardier. They are managing their own incomes. I suggest that these huge bonuses are in recognition of these points, imho they are facts:

• Losses covered by government partial purchases mean the company does not own itself as fully any more.
• Losses covered by government loans means more money will be needed later, not less.
• Poorly ‘performing’ boards of directors, CEOs, and top executives eventually have to leave. Sooner or later the shareholders and governments and clients will have their wishes granted. Contracts will be broken. Loans will be called. Subsidizers will be made to look foolish.

So, what would a clever set of self-serving executives do? Give themselves one last, outrageous parting gift: huge bonuses.

Cynical enough? that’s the dumb question.