nuckin_futz

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nuckin_futz last won the day on December 26 2014

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About nuckin_futz

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  1. Probably "Embraer". Bombardier is practically a crown corporation.
  2. Trade War, Round 2: Boeing Accuses Bombardier Of Dumping Jets; Canada Retaliates Just days after the US Commerce Department imposed duties averaging 20% on Canadian softwood lumber, accusing Chinese timber companies of getting an unfair government subsidy, on Thursday round two of the trade war between the US and Canada broke out when Boeing asked the U.S. Commerce Department to investigate dumping, subsidies and unfair pricing for Canadian planemaker Bombardier's new CSeries airplane, a competitor to the Boeing 737, confirming that the trade tensions between the two neighboring countries are set to get far worse. Specifically, the Chicago-based aerospace giant has asking the International Trade Commission to rule that it has suffered injury to its business at the hands of Bombardier and to recommend that the Commerce Department impose duties on the Canadian jet builder (amusingly, Boeing also complained about the very existence of Bombardier itself, a company which has been aggressively bailed out by the Canadian government as recently as October 2015, when in exchange for $2.5 billion in taxpayer funds, the company fired 7,000 Canadian workers). In its petition, Boeing said that Bombardier, determined to win a key order from Delta Air Lines after losing a competition at United Airlines, had offered its planes to the airline at an "absurdly low" $19.6 million each, well below what it described as the aircraft’s production cost of $33.2 million. "Propelled by massive, supply creating and illegal government subsidies, Bombardier Inc has embarked on an aggressive campaign to dump its CSeries aircraft in the United States," Boeing said in its ITC complaint. A comparable 737-700 model by Boeing has a list price of $83.4 million, with the new 737-MAX 7 priced at $92.2 million. While sales discounts from list prices are typically 40 percent to 50 percent in the industry, another question is just how much of that price is courtesy of the implicit taxpayer subsidy of the Ex-Im bank, but that is a topic for another post. The spat between the two companies came to a climax in April 2016, whe Bombardier won the Delta order, its biggest yet, for 75 CS100 jets, worth an estimated $5.6 billion based on the list price of about $71.8 million. And now that Trump has given the green light to challenge Canadian trade competitors, Boeing is certainly not wasting time. In its complaint against Bombardier, Boeing argued that the CSeries program would not exist without hundreds of millions of dollars in launch aid from the governments of Canada, Quebec and Britain, nor the abovementioned $2.5 billion equity infusion from Quebec in 2015. Boeing wasn't finished: the company also took a shot at European rival Airbus, which it accuses of benefiting from similar "unfair" government subsidies in a long-running dispute before the World Trade Organization. “Evidently taking a page out of the Airbus strategy book, Bombardier has blatantly and intentionally demonstrated its goal of muscling its way into the U.S. aviation market by offering its heavily subsidized planes at cut-rate pricing,” Boeing said. A Commerce Department spokesman told Reuters that the petition would be given "a thorough review" and further comment was premature. In recent week, Commerce Secretary Wilbur Ross has taken swift action to protect the U.S. steel and aluminum industries from foreign competition, launching national security investigations that could lead to import restrictions. An investigation could lead to duties on the aircraft to offset any below-cost pricing or any subsidies deemed unfair. Shortly after the complaint was filed, the Canadian government issued a statement objecting to Boeing's allegations and noted that the CSeries has many U.S. suppliers, including for engines, and supports thousands of U.S. jobs. "The Government of Canada will mount a vigorous defense against these allegations and stand up for aerospace jobs on both sides of the border," it said. Full statement below: The Government of Canada today made the following statement regarding the filing of a petition by Boeing Aerospace Corporation with the United States Department of Commerce, alleging the dumping of Bombardier aircraft in the United States market: "The Government of Canada objects to the allegations made by Boeing. We are confident that our programs are consistent with Canada's international obligations. "The aerospace industries of Canada and the United States are highly integrated and companies on both sides of the border benefit from this close partnership. For example, many C Series suppliers are based in the United States and it is projected that more than 50 percent of the components for the C Series, including the engine, will be supplied by American firms directly contributing to high quality jobs in that country. The C Series is a great example of how the North American industrial base can develop and produce a globally competitive product with industry-leading clean technologies. Bombardier also has a significant presence in the U.S. across its aerospace and transportation divisions, directly employing more than 7,000 workers. In addition, the company works with more than 2,000 suppliers headquartered in states across the country thereby generating thousands of well-paid, high-tech American jobs. "The Government of Canada will mount a vigorous defence against these allegations and stand up for aerospace jobs on both sides of the border." Curiously, Bombardier’s chief executive conceded the company had been “aggressive” on pricing in order to win, and sources familiar with the deal pegged the discount closer to two-thirds off the nominal list price. It added that it was reviewing the petition and structures its dealings to ensure compliance with all relevant laws. * * * In a separate development, Premier Christy Clark of British Columbia, wrote a letter to Canadian Prime Minister Justin Trudeau Wednesday asking him to ban coal shipments from the U.S., sending shares of US coal giant Cloud Peak Energy (among others) tumbling. According to Bloomberg, Clark's demand was in response to Trump's lumber tariffs. Trudeau said he would consider the request "carefully and seriously." Some context: a little over 6 million metric tons of U.S. thermal coal were shipped through the port of Vancouver in 2016. Needless to say, it would be especially absurd if as a result of Trump's Canadian tariffs, it is the US coal mining industry - the one which the president vowed to reincarnate - that suffers the most. And now, we sit back and wait for round three in the increasingly hostile trade wars between the US and its peaceful northern neighbor. http://www.zerohedge.com/news/2017-04-27/trade-war-round-2-boeing-accuses-bombardier-dumping-jets-canada-retaliates
  3. Trade War, Round 2: Boeing Accuses Bombardier Of Dumping Jets; Canada Retaliates Just days after the US Commerce Department imposed duties averaging 20% on Canadian softwood lumber, accusing Chinese timber companies of getting an unfair government subsidy, on Thursday round two of the trade war between the US and Canada broke out when Boeing asked the U.S. Commerce Department to investigate dumping, subsidies and unfair pricing for Canadian planemaker Bombardier's new CSeries airplane, a competitor to the Boeing 737, confirming that the trade tensions between the two neighboring countries are set to get far worse. Specifically, the Chicago-based aerospace giant has asking the International Trade Commission to rule that it has suffered injury to its business at the hands of Bombardier and to recommend that the Commerce Department impose duties on the Canadian jet builder (amusingly, Boeing also complained about the very existence of Bombardier itself, a company which has been aggressively bailed out by the Canadian government as recently as October 2015, when in exchange for $2.5 billion in taxpayer funds, the company fired 7,000 Canadian workers). In its petition, Boeing said that Bombardier, determined to win a key order from Delta Air Lines after losing a competition at United Airlines, had offered its planes to the airline at an "absurdly low" $19.6 million each, well below what it described as the aircraft’s production cost of $33.2 million. "Propelled by massive, supply creating and illegal government subsidies, Bombardier Inc has embarked on an aggressive campaign to dump its CSeries aircraft in the United States," Boeing said in its ITC complaint. A comparable 737-700 model by Boeing has a list price of $83.4 million, with the new 737-MAX 7 priced at $92.2 million. While sales discounts from list prices are typically 40 percent to 50 percent in the industry, another question is just how much of that price is courtesy of the implicit taxpayer subsidy of the Ex-Im bank, but that is a topic for another post. The spat between the two companies came to a climax in April 2016, whe Bombardier won the Delta order, its biggest yet, for 75 CS100 jets, worth an estimated $5.6 billion based on the list price of about $71.8 million. And now that Trump has given the green light to challenge Canadian trade competitors, Boeing is certainly not wasting time. In its complaint against Bombardier, Boeing argued that the CSeries program would not exist without hundreds of millions of dollars in launch aid from the governments of Canada, Quebec and Britain, nor the abovementioned $2.5 billion equity infusion from Quebec in 2015. Boeing wasn't finished: the company also took a shot at European rival Airbus, which it accuses of benefiting from similar "unfair" government subsidies in a long-running dispute before the World Trade Organization. “Evidently taking a page out of the Airbus strategy book, Bombardier has blatantly and intentionally demonstrated its goal of muscling its way into the U.S. aviation market by offering its heavily subsidized planes at cut-rate pricing,” Boeing said. A Commerce Department spokesman told Reuters that the petition would be given "a thorough review" and further comment was premature. In recent week, Commerce Secretary Wilbur Ross has taken swift action to protect the U.S. steel and aluminum industries from foreign competition, launching national security investigations that could lead to import restrictions. An investigation could lead to duties on the aircraft to offset any below-cost pricing or any subsidies deemed unfair. Shortly after the complaint was filed, the Canadian government issued a statement objecting to Boeing's allegations and noted that the CSeries has many U.S. suppliers, including for engines, and supports thousands of U.S. jobs. "The Government of Canada will mount a vigorous defense against these allegations and stand up for aerospace jobs on both sides of the border," it said. Full statement below: The Government of Canada today made the following statement regarding the filing of a petition by Boeing Aerospace Corporation with the United States Department of Commerce, alleging the dumping of Bombardier aircraft in the United States market: "The Government of Canada objects to the allegations made by Boeing. We are confident that our programs are consistent with Canada's international obligations. "The aerospace industries of Canada and the United States are highly integrated and companies on both sides of the border benefit from this close partnership. For example, many C Series suppliers are based in the United States and it is projected that more than 50 percent of the components for the C Series, including the engine, will be supplied by American firms directly contributing to high quality jobs in that country. The C Series is a great example of how the North American industrial base can develop and produce a globally competitive product with industry-leading clean technologies. Bombardier also has a significant presence in the U.S. across its aerospace and transportation divisions, directly employing more than 7,000 workers. In addition, the company works with more than 2,000 suppliers headquartered in states across the country thereby generating thousands of well-paid, high-tech American jobs. "The Government of Canada will mount a vigorous defence against these allegations and stand up for aerospace jobs on both sides of the border." Curiously, Bombardier’s chief executive conceded the company had been “aggressive” on pricing in order to win, and sources familiar with the deal pegged the discount closer to two-thirds off the nominal list price. It added that it was reviewing the petition and structures its dealings to ensure compliance with all relevant laws. * * * In a separate development, Premier Christy Clark of British Columbia, wrote a letter to Canadian Prime Minister Justin Trudeau Wednesday asking him to ban coal shipments from the U.S., sending shares of US coal giant Cloud Peak Energy (among others) tumbling. According to Bloomberg, Clark's demand was in response to Trump's lumber tariffs. Trudeau said he would consider the request "carefully and seriously." Some context: a little over 6 million metric tons of U.S. thermal coal were shipped through the port of Vancouver in 2016. Needless to say, it would be especially absurd if as a result of Trump's Canadian tariffs, it is the US coal mining industry - the one which the president vowed to reincarnate - that suffers the most. And now, we sit back and wait for round three in the increasingly hostile trade wars between the US and its peaceful northern neighbor. http://www.zerohedge.com/news/2017-04-27/trade-war-round-2-boeing-accuses-bombardier-dumping-jets-canada-retaliates
  4. White House: "President Trump agreed not to terminate NAFTA at this time" The White House has released its Readout of President Donald J. Trump's Call with President Peña Nieto of Mexico and Prime Minister Trudeau of Canada http://news.forexlive.com/!/president-trump-agreed-not-to-terminate-nafta-at-this-time-20170427 Statement in the link
  5. Well the much awaited tax plan was released today. The tax code has note been touched in any significant way since 1986. After all that has been promised people were really looking forward to this. What was presented was 1 single page long. The following is a research note from Wall St. firm Cowen and Co. ......... "Only real surprise was that the Trump tax plan exists, albeit on one page of 'principles.' There is no there there. It is a one-pager without any detail...for a tax code of ~70,000 pages. Our low expectations did not prove to be too pessimistic. Classic over promise and under deliver. No mention of BAT - but also no mention of really anything...What the Trump Administration has proposed is not permanent tax reform, but a ten-year tax cut and the creation of the most phenomenal fiscal cliff ever in 2028." #SAD
  6. Reminds me of an old joke. Q: What has one leg and lies on your TV? A: Lucien Bouchard
  7. Looks like he has to take a viscous dump.
  8. Looks like he's having trouble digesting some bad yams.
  9. Trevor looks bored. Benning looks angry. What gives?
  10. Kevin O'Leary drops out of Conservative leadership race, will endorse Maxime Bernier Former Dragon's Den TV star believes he cannot defeated Prime Minister Justin Trudeau in next election Kevin O'Leary is dropping out of the Conservative leadership race and will endorse Maxime Bernier. The businessman and reality TV star is ending his campaign only hours before the last leadership debate in Toronto, and two days before party members can start casting their ballots. O'Leary is confident he could win the Conservative race, but now believes he cannot defeat Prime Minister Justin Trudeau in the next election. He has cited his failure to gain traction in Quebec and his poor French-language skills as reasons for dropping out of the leadership race. http://www.cbc.ca/news/politics/kevin-oleary-drops-out-endorses-bernier-1.4086583 ************************************* Good riddance to bad rubbish.
  11. Once heard him say "All you have to do is win your games and you're OK". Yeah thanks Captain Obvious. That's the type of quality insight we get treated to. The moron should be fired for spelling Glen with 2 n's and for cutting his own hair with a pocket knife.
  12. Can't say it bothers me. It is what it is and there's other options. Though I must say I did find it funny when we played EDM in pre season and beat them 5-3. Stetcher even scored a beauty goal and 2 assists and all the highlights were of McDavid who did nothing. Not 1 single Canucks highlight.
  13. Canada PM Trudeau told Trump he wants a negotiation on softwood Reuters headlines: Canadian PM talks to President Trump: "Refuted the baseless allegations" of US commerce department on lumber - statement from Trudeau's office Tells Trump that Canada will vigorously defend interests of softwood lumber industry - statement from Trudeau's office Canadian PM, Trump agree on the importance of reaching a negotiated agreement on softwood lumber - statement from Trudeau's office Tells Trump canada will stick to NAFTA rules givingUS access to duty-free and quota-free access for milk protein substances - statement http://news.forexlive.com/!/canada-pm-trudeau-told-trump-he-wants-a-negotiation-on-softwood-20170425
  14. Good God this man is so stupid it's painful to watch. The United States has a $400 million dollar dairy trade trade surplus with Canada and he's bitching about 1 type of milk product. https://www.thestar.com/opinion/editorials/2017/04/23/trump-is-wrong-about-dairy-protectionism-but-canada-should-still-scrap-it-editorial.html
  15. Commerce Secretary Wilbur Ross, who accompanied the president into the reception, said that the "countervailing duty" would be retroactive 90 days. He said that was when Canada was warned to stop subsidizing their lumber industry. The countervailing duty is meant to offset the subsidy. "They were on notice," he said.