In recent news, there was a lot of controversy over Bombardier's disclosure policy. The issue eventually went to the courts where Bombardier was found not guilty of improper disclosure practices, however the company's weak disclosure practices were revealed. Last year Bombardier told a select group of 31 analysts and institutional investors about a major management change at its aerospace division. Bombardier did in fact breach its own internal disclosure policy when it sent an e-mail to those individuals informing them that Mr. Graff (the existing head of aerospace at the time), had stepped down unexpectedly and was being replaced by Pierre Beaudoin. That day, Bombardier shares fell drastically and the image of Bombardier was damaged. Bombardier failed to adhere to its own policies and since Canada's rules are not very strict in terms of disclosure and governance, they got away with it. If this company was in another country, it is unlikely that they would have gotten away with it so easily.
Both Bombardier's disclosure and corporate governance practices are in desperate need for modernization. …
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