Archive for April, 2006
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Thursday, April 13th, 2006Business Edge has a bang-on story about the unhealthy obsession that many Canadians have with all things Nortel despite the fact the company has been struggling and its stock has dropped 20% since CEO Mike Zafirovski took over last November. The article laments the fact Canadians pay so much attention to Nortel, they ignore more [...]
Good News for Nortel
Wednesday, April 12th, 2006Mike Zafirovski can do all kinds of smart things to re-invent Nortel but it won’t matter much if customers aren’t shopping. Fortunately for Mike Z. and Nortel, Infonetics believes publicly-traded service providers will boost capital expenditures by 4% in 2006 to $65-billion after an 8% increase in 2005. So where is this spending taking place? [...]
Nortel a “Great” Stock
Wednesday, April 12th, 2006Nortel seems to be gaining some admirers as it battles to re-invent itself (again!). MSN Money has a story that George Putnam, who publishes The Turnaround Letter, believes it's time to buy Nortel because its accounting woes are close to disappearing despite the most recent restatement. Putnam likes the turnaround job being done by Nortel [...]
Nortel Hires New Services President
Tuesday, April 11th, 2006Mike Zafirovski's overhaul of Nortel's senior management team took another step forward with the appointment of Dietmar Wendt as president of its global service division - a position that has been vacant since Sue Spradley was bumped aside earlier this year. Unlike most of Mike Z.'s other hires, Wendt is not a ex-General Electric colleague. [...]
Is Nortel a Poor Loser?
Tuesday, April 11th, 2006Back in November, Nortel missed out on being part of a huge contract with Telstra in Australia. Last week, however, it was warning Cisco, Ericsson and Alcatel, they better not screw up. "That was a disappointment. That was an area that we were looking to expand on," Nortel's Australia and New Zealand president Mark [...]
Revenue Realities
Monday, April 10th, 2006An interesting tidbit to come out of Nortel CEO Mike Zafirovski's meeting with the media at the CTIA Wireless conference in Las Vegas last is that 65% of Nortel's revenue comes from businesses where it has less than 20% market share. As most people know by now, 20% is the threshold that Mike Z. has [...]
Ericsson: No Mega-Acquisitions For Us
Monday, April 10th, 2006So will the Alcatel-Lucent marriage trigger other mega-deals? Maybe, but they won’t feature Ericsson after CEO Carl-Henric Svanberg downplayed the idea. “I am not particularly interested in bigger acquisitions,” Svanberg told reporters recently. When asked about whether Ericsson could be interested in Nortel, he said “it is not probable that we see ourselves doing that” [...]
More Legal Trouble for Nortel
Sunday, April 9th, 2006Another day, another legal mess for Nortel - according to a story in the Ottawa Citizen. This time, a Georgia court give then green light for three executives to go after Nortel for damanges for alleged negligence. The issue goes back a few years to the height of telecom boom when Alteon Websystems bought a start-up [...]
RBC Maintains “Sector Perform”
Friday, April 7th, 2006RBC Capital Markets analyst Mark Sue is maintaining "sector perform" rating on Nortel and a target price of $4. Sue said the Nortel's sales should climb 5% 2006 while reducing costs by moving operations to lower-cost areas.
Nortel Opens Sales Studio in Toronto
Friday, April 7th, 2006While Nortel’s executives have to work on the outskirts of Toronto - when they’re in town, that is - the company’s sales people will have the luxury of working downtown in a new sales studio. Mike Z. said the studio will put Nortel close to some of its largest customers.
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