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Archive for November, 2006

Wanted: More Bandwidth

Forbes has a story looking at how the growing amount of Internet traffic (video, gaming, data, etc.) is forcing carriers to expand their networks, and provide some sweet business to equipment suppliers such as Nortel, Cisco and Alcatel. Infonetics projects that major carriers will spend $203.1-billion on capital expenditures this year, up 5% from last [...]

Why Zafirovski Sold Some Shares

The mystery - at least to me - about why Nortel CEO Mike Zafirovski sold some shares earlier this month has been solved. According to the company, Mike Z. was given 2.265 million restricted stock units on Nov. 15, 2005 in accordance to the Nortel 2005 Stock Incentive Plan. The RSUs vest in five equal [...]

Natural Convergence Raises $10M

According to the Ottawa Citizen, Natural Convergence Inc. has raised $10-million in private equity to expand its VoIP business, which is driven by its Silhouette software, a hosted VoIP software application designed for service providers. Natural Convergence’s roots go back to Nortel’s former Extreme Voice division. Natural Convergence expects to turn profitable next year.

He’s Here, He’s There, He’s Everywhere

John Roese, Nortel’s chief technology officer, must have passed his media training with flying colors because he’s everywhere these days. His latest gig is a Q&A with ITBusiness.ca where he explains the reason he joined Nortel after only eight months at his previous job was its scale in six businesses: wireless, wireline, carrier, enterprise, applications [...]

Alcatel-Lucent Merger on Watch

Light Reading reports that Alcatel and Lucent have agreed to have their merger (well, it’s actually Alcatel buying Lucent) open for further review by the Committee on Foreign Investment in the United States after deal is completed as part of a security agreement reached with a variety of U.S. government agencies. The "merger" is expected [...]

Nortel Wins $20M Deal in Iraq

Nortel is getting involved in the reconstruction of Iraq’s infrastructure with a $20-million contract to build a new, 5,000-kilometer fibre-optic network for Iraq Telecommunications & Post Corp. The network, which will deliver data, video and multi-media services, will be linked an another network built by Nortel in 2004 that runs between Basra and Baghdad. "This [...]

Zafirovski Sells Shares

Not sure what to make of Mike Zafirovski’s “purchase” earlier this week of 2.26 million Nortel shares (the filing says $0 per share) and sale of 180,706 shares at $2.07 each for proceeds of $374.061. Who knows, maybe he’s got a tax bill or doing some renovations. Zafirovski still owns 2.08 million shares. Some other [...]

McCann Wins Nortel Ad Account

According to AdWeek, Nortel has awarded its global advertising accounting to McCann Worldgroup following a review. Dallas-based The Richards Group had previously handled Nortel. Rob Bagot and John McNeil, both executive creative directors at McCann in San Francisco, will oversee creative development on a campaign scheduled to be launched in the first quarter. The contract [...]

TD Impressed with Nortel Investor Day

 
TD Securities’ Chris Umiastowski had some good first impressions from Nortel annual investor day. In particular, he was enthusiastic aboutt the level of details provided by senior management. “It was refreshing to have completely open access to most of these executives during the day, and to actually get real (useful) answers to questions,” said in [...]

Nortel’s Ambitious Financial Targets

The financial guidance that came out of Nortel’s annual investor conference yesterday is the following: 13% operating margins, 43% gross margins, 10%+ revenue growth, and $1.5-billion+ in operating margin expansion by 2008. UBS Securities believes double-digit operating margins will be a challenge given the "touch competitive environment and Nortle’s absence in the consolidation wave". UBS [...]