Comment 71239

By Cog Burn (anonymous) | Posted November 13, 2011 at 08:01:20

The president of the bike-sharing company Bixi has resigned because he can no longer guarantee that taxpayers won’t be on the hook for the company’s deficits.

Roger Plamondon quit on Friday after five years of involvement with financially flailing Bixi, confirmed company spokesman Michel Philibert.

Bixi operates separate organizations in Toronto, Montreal and Ottawa.

Plamondon left because of money problems at the Montreal branch, for which he blames the Quebec provincial government, he told the CBC.

In Plamondon’s tenure, Bixi racked up a $108 million budget shortfall in Montreal — $37 million for operations and $71 million to expand its business internationally.

....

More @ http://www.thestar.com/news/article/1086082--bixi-bikes-boss-quits-after-bumpy-ride

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