March 28, 2016 12:25 pm eastern

Market are slightly weak today…

I have added today to my Stantec position. I also started a new position in Royal Bank of Canada which we had rated a Strong Buy.

I am expecting Bombardier to post very soon its circular for its April 28 annual meeting. This will reveal its proposed slate of directors. I am curious to see if any of the incumbents choose to (or have been asked to) not stand for re-election. All of the Board members are either family or in some way “famous” such as a former Quebec Premier, two (two!) former Auditor Generals of Canada, a former Nortel CEO, a former Citibank CEO and (bizarrely) the former Google CFO. Other than the Laurent and Pierre Beaudoin who will want to stay around to try to resurrect their shattered images, I don’t know why any of the rest of them would really¬†want to stay in the job. They don’t seem to need the money and they don’t seem to have contributed anything to the business, so why stay on as Board members where they are sure to be criticised heavily?

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