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Archive for February, 2006

Sprint Capex Bodes Well For Nortel

Sprint Nextel’s higher than expected capex guidance of $6.3-billion could be good news for Nortel, which is a key supplier for Sprint’s local business and has 25% to 30% of Sprint Nextel’s CDMA footprint.

Hey, Nortel Hires Chief Strategy Officer

Nortel has hired another senior executive but - for a change of pace - it’s not someone from General Electric. George Riedel has been named chief strategy officer, which makes him responsible for shaping strategy including business development, M&A, emerging technologies, market opportunities, and strategic partnerships. Riedel comes from a three-year stint at Juniper Networks [...]

A Long Wait for Nortel’s Q4/2005 Results

In the wake of its accounting scandal, don’t expect Nortel to issue any financial results without making sure everything has been scrutinized, double-checked, most important, audited. There’s no way this company wants to embarass itself with numbers that aren’t as close to perfect as they can be. As a result, the Q4/2005 results are unlikely [...]

Zafirovski to Speak This Week

For people anxiously to hear CEO Mike Zafirovski’s strategic vision, the wait could be over this week when he delivers his first public speech at RBC Capital’s Communications, Media & Technology Conference in Whistler, B.C. Since taking the helm in mid-November, Mike Z. has been busy overhauling the senior management team, making a small acquisition [...]

Old Guard Leaving the Board

It’s out with the old and in with the new when it comes to the Nortel board. Exiting stage left are John Cleghorn, Robert Brown and Robert Ingram, who won’t stand for re-election during May’s AGM. Needless to say, it has been a thankless job for these seasoned executives who probably thought sitting on the [...]

Nortel Stock Split Reversal

So Nortel is thinking about a reverse stock split, which makes sense when you have nearly FIVE BILLION shares outstanding and stock option programs that provide senior executives with ways to get their hands on millions of shares. This isn’t the first time Nortel has raised the idea of a stock split reversal - the [...]

Mike Z.’s Sweet Compensation Package

So Mike Z. gets a $1.2-million annual salary just for showing up. Then, he’s eligible for a bonus worth $1.8-million to $3.6-million if certain performance benchmark are reached. Then, there’s the five million stock options and 2.25 restricted stock options he received last year, which are currently worth nearly $18-million. And if Mike Z. sticks [...]

Nortel to Bow Out of Indian Contract

CIBC analyst Steve Kamman believes Nortel is out of the running for the next phase of BSNL’s multi-billion dollar wireless expansion. It appears the business will go to Ericsson, Nokia, Motorola and/or Siemens. This is probably good news for Nortel, which posted a loss of about $200-million on a $500-million contract with BSNL - a [...]

Nortel Wins Cingular Deal

Cingular Wireless has given Nortel a three-contract to supply it with 2G and 3G equipment and services. While terms of the deals were not disclosed, it would be a major win for Nortel given it was surprisingly left off the list of suppliers when Cingular announced its UMTS contract in late-2004. “There is no question [...]

Nortel Sells Blade Server Business

As part of Nortel CEO Mike Z.’s strategic focus process, the company has sold its blade server switch business to Garnett & Heinrich, a private equity firm. Nortel will retain an equity stake in the business, which will be renamed Blade Network Technologies Inc. The Street.com’s Scott Mortiz has his take on the deal here.