April 1, 2016 12:15 pm eastern

Markets are moderately weak today.

Oil is down 3.8% to $36.88. Despite the difficulties that causes for many, (including to some companies that I own shares in) it is beneficial overall for the citizens of Canada and the world. (At least, if any resulting increased consumption and environmental harms are set aside). High oil prices were greatly beneficial to Saudi Arabia and other countries with less than admirable reputations. When I think about the greater good I find myself less able to cheer for higher oil prices. I would like oil prices to simply reflect market forces and not to benefit from the former price-fixing efforts of OPEC. Alberta might be wise to focus on getting pipelines and not hoping for a return to the former artificially high prices.

Bombardier posted its proposed slate of directors for the upcoming year. New list, same as the previous with one exception. (Correction, there are tow exceptions as the Board was expanded by one) One of the former Canadian Auditor Generals on the Board has apparently elected not to run and is replaced by an academic who holds no shares. It is disappointing that the family feels that it should have no less than five members on the Board despite owning 12.4% of the shares (and about half the votes due to owning mostly multiple voting shares). A few others on the Board who have been there throughout the debacle of the last 15 years at Bombardier also chose not to resign. I don’t think Bombardier can ever fix itself while not admitting that much of the problems were caused by poor leadership at the very top. The refusal to reform the Board even a little bit is also effectively thumbing their nose at the governments that want to see reform and who have been asked to invest in the company.



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