These shattered optimisms are as traditional as suprises in revising numbers worse every time they count them with the endless punch lines. Who believes a word they say anymore.

The balance of 2006 was to be optimistic too, as Q3 comes in at a 99 million loss. I wonder what the numbers would be without the recent 1.48B moved forwards.

Shattered optimistic Q404, Q205, balance of 2006, etc., now 2007 or 2008, when is enough, enough.

They are in a death spiral exhausting assets to the point of selling thier very business and printing Nortel paper to survive as others merge.

As Chambers said, there are plenty of large company yesteryear darlings gone today and Nortel has not turned around. Its premium stock price relative to even unreliable numbers reminds me of Stelco or Air Canada, as we await a reverse split in December, huge fines from decliining cash, extended repair of internal controls to 2008 when $1.8B debt must coincentally be addressed, their largest Canadian pension deficit that must be listed in future bond applications, criminal results and derivative class action, diluting an extra 14.5% equity, etc., it is endless

Is Mr. Umiastowski overlooking what is to come with his $2.50 target and their history?

In 2004 NT was as low as $3.90
in $2005 NT was as low as $2.29
in 2006 NT was as low as $1.90

With a reverse split and all we anticipate let alone the multiply more surprises we keep getting, their endless contradicitons, etc., I find his $2.50 target somewhat optimistic. The balance of 2006 was suppose to be optimistic too with moved money and one more quarter to go they will report on in 2007.