Some businessmen are utterly stupid:
Bombardier received a US$1 billion investment from the Quebec government in 2016 in exchange for a 49.5 per cent stake, and in February, the federal government pledged $372.5 million in repayable loans to the company — a far cry from the US$1 billion it had been asking Ottawa for since 2015.
The company has also laid off thousands of workers worldwide.
Bombardier is losing money but the Canadian government props it up. Why? Apparently, it's too big to fail. Still, the top guys want their cash:
Public anger about the roughly 50 per cent increase in compensation from the US$21.9 million paid to the executives in 2015 has mounted steadily in the past few days in light of the fact Bombardier has received hundreds of millions of tax dollars.
What's stunning about all this is that the CEO didn't anticipate the mammoth backlash from the public. Even some politicians had the belated sense to call these clowns and tell them to rethink.
Bombardier decided to "defer" the compensation on April 2.