Various financial news sources reporting that Paul Tellier CEO of ailing Bombardier has been fired. Other sources indicate he resigned under pressure one year before his employment contract was due to expire. Apparently, the Board of Directors wants to speed the ongoing major corporate restructuring. Shares of Bombardier plunged.
LC
I wish I could say I knew what Bombardier’s problem was but why B.S the forum?
Business…very hard to swallow sometimes.
That Tellier sure is making the rounds.
Andrew-
This report will give you an idea.
http://quote.bloomberg.com/apps/news?pid=10000006&sid=arB5Sc2.pR5M&refer=home
Jay
Like MSNBC and the WSJ say, more information is needed, the stock is being and will probably continue to be punished at the loss of a Sr. member(s) of their leadership team. In my time of knowing some execs and hearing and seeing such activity among grown people that should show better manners, It usually involves a big stock holder that got their feelings hurt or an ego that got a group to gang up on the boss. From what I can get of this, THIS WILL BE INTERESTING, and mabe a time to buy the stock on bad news. For what its worth.
I don’t think bombardier is something that I would be too interesting in buying, it’s just a little too dicy as far as how much government support they garnish, and the fact that those airbus people are giving them such a good run for thier money competition wise.
One company I did want to buy when it was down was Nortel. They were bobbing around $1 a while back and I thought I should put a little in there… sure would have paid off had I bought.
Ah well, would have, could have, should have.
Yeah…Bombardier stock is a little like Nortel at the moment.
Well for so far I am under the impression that they need to diversify their products and branch out to lucrative like products. Perhaps they should start thinking about freight locomotives and freight cars for example.
I have said it before and I will say it again, I do like the way you think - Roy
Macguy
Just a small quibble. Airbus isn’t a direct competitor to Bombardier, unless you count their subsidiary ATR. (I don’t because ATR currently produces only turboprop aircraft.) Airbus concentrates on large jets, their smallest, the A318, seats 100 give or take. Bombardier’s biggest competitor is Embraer of Brazil. They offer a nearly identical aircraft catalog. These two go toe to toe on almost every airline order for small (commuter) jets. So far, the results are very similar to the Boeing/Airbus competition, one gets 55% of the orders one year and 45% the next.
Mac
That’s wolud 'a, could 'a, should’a. Or, if I knew then what I know now, we would be talking 10 figures.
Jay
I recall when Yahoo got started, we all laughed. No one is laughing now.
To expand what I said, freight car manufacturing is a little small compared to the U.S. Where as we only have really one independant freight car manufacturer (National Steel Car), the U.S has Trinity, Greenbrier and Johnstown America. To my knowledge, Tascona Shops which is a CN subsidy I believe, is to be closed and Procor manufactures the odd car through its parent company Union Tank Car.
I think Bombardier might have a change on some freight cars if it really wants to.
What do you think?
Just goes to show that one’s talent running a railroad doesn’t always translate well to other companies.
Just last week or so the new CN tunnel between Sarnia and Port Huron
was named the Tellier tunnel At the ceremony much praise was given to Paul Tellier.
Latest news heard just now was he left Bombardier on good terms.
Doesn’t this sound familiar.
Stock in Bombardier is at a record low
The new head will be L. Beaudin (Not sure of spelling)
I was under the impression Bombardier was the the thirs largest mfgr
of aircraft after Airbus and Boeing, although I know Brazin was on a par with Bombardied.
With The crash of one of Bombardier’s planes in Colorado recently that killed a TV sports anchor and his son, Bombardier stock dropped quite a bit.
BBD just sold it’s freight car joint venture to it’s former partner, Greenbriar. And being a highly cyclical, capital investment intensive business, it’s not something that will help stabilize BBD to any great extent.
I don’t see BBD surviving very long on it’s own. The company’s grown topheavy and out of focus. Either the Canadian government will prop it up, or it will end up in the arms of some industrial giant like GE within a decade.
Aggreed!!![:D]
Paul Tellier fired?! Couldn’t happen to a more deserving guy.
I wonder what kind of severance package his contract calls for. It seems like most CEOs make more money when the get fired than if they keep their jobs. Its hard to feel sorry for someone who is given a golden parachute worth millions when they get fired. I
There is also Union Tankcar Company, ACF Industries, and ARI, which builds ACF cars.