Quote:
Originally Posted by whatnext
Even more maddening some of those millions will go straight to the City of Montreal who had to bail out BIXI.  |
What is "maddening" about that? Montreal behaved as a lender and fronted some cash for that business to operate. So yes, some portion of that company's cash flow will be returned to Montreal. It's basic capitalism, hardly something to be frustrated about.
The financial circumstance of a contractor does not represent an abnormal risk to the city of Vancouver. One assumes that a contract was signed for provision of services. All that matters to us is whether those services are delivered. If the company goes under then the services stop, the payments stop, and we just need to find someone new. Given that Montreal taxpayers have some skin in the game, I'd say that the risk of this company failing is lower than typical. Perhaps it's not the best situation for Montreal taxpayers, but that is hardly our concern.
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