Archive for November, 2006
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Wednesday, November 15th, 2006Nortel CEO Mike Zafirovski kicked off the company’s annual investor day with his typical mixuture of enthusiasm, bullishness and optimism. While conceding there had been some challenges along the way as Nortel re-invents as its operates, and the telecom equipment market is extremely competitive, he said sales should growth by at least 7% in 2007, [...]
Nortel Cited for Pension Deficit
Wednesday, November 15th, 2006According to the Globe & Mail (citing a Moody Investors Service report), Nortel is among the to 10 companies that has an underfunded pension plans. Moody’s said Montreal-based Alcan has the largest pension deficit, $3.1-billion, of the companies it rates, while Nortel and BCE Inc. had deficits of $2.9-billion and $2.4-billion respectively. Tags: Nortel, Pensions, [...]
Nortel’s Crystal Ball
Tuesday, November 14th, 2006Want to know what Nortel thinks will happen in 2007? Here’s the scoop straight from the horse’s mouth:
Nortel’s crystal ball predicts:
* A second wave of WiMAX equipment being trialed in 2007 that will – for the first time – deliver the wireless equivalent of wireline broadband. And, unlike significant advances in wireless technology to [...]
IS PEC Solutions on the Block?
Tuesday, November 14th, 2006In a research report, Orion Securities analyst Duncan Stewart suggests Nortel Government Services (formerly known as PEC Solutions) is doing “very badly”, “about to do worse” and could be dumped as a “distress sale” for about $200-million (less than 50% of the $448-million all-cash purchase price two years ago). Stewart’s assertion came after he went through [...]
Nortel Investor Conference on Nov. 15
Monday, November 13th, 2006Nortel is holding its annual investor conference on Nov. 15. with an audio Webcast available. Here’s the schedule:
8:00 AMTerry Glofcheskie, Vice President, Investor Relations – introduction
Mike Zafirovski, President and Chief Executive Officer – opening remarks and macro view of NortelPeter Currie, Executive Vice President and Chief Financial Officer – financial overviewGeorge Riedel, Chief Strategy Officer [...]
Nortel Networks 101
Saturday, November 11th, 2006If you’re interested enough in Nortel Networks to spend 343 Euros on a research report, here’s your chance. Research and Markets writes these "Company Intelligence Report" to provide "essential information on network operators and equipment manufacturers. The reports are concise and easy to read, outlining the companys recent activities and corporate strategy, and providing essential [...]
Has Susan Shepard Quit?
Friday, November 10th, 2006According to an Angel TeleManagement Group newsletter, Nortel’s chief ethics and compliance officer, Susan Shepard, has resigned to “pursue other interests”. There is no news about it online, and Shepard’s bio is live on Nortel’s Web site. Shephard was among the many executives hired by ex-CEO Bill Owens. Update: According to an 8-K filed with [...]
Analysts Getting Frustrated
Friday, November 10th, 2006A theme among analysts in the wake of Nortel’s third-quarter results is frustration/impatience with the pace of change of the company’s restructuring. Earlier this week, TD Securities cited this issue as a key factor in a decision to reduce its rating to "hold" from "buy" and its target price from $3 to $2.50. CIBC World [...]
Q&A with Mike Z.
Thursday, November 9th, 2006BusinessWeek has a Q&A with Norte CEO Mike Zafirovski. Question number one is interesting:What are the strongest indicators that you are making progress in the turnaround of Nortel?
A: Two indicators are customer and employee satisfaction. Both are up dramatically in the second half of the year vs. the first half. The surveys we do indicate [...]
TD Downgrades NT, Lowers Target Price
Wednesday, November 8th, 2006Based on his assertion that Nortel is about a year behind its original plan to improve its cost structure, TD Securities analyst Chris Umiastowski has downgraded the company to a "hold" from a "buy", while reducing its target price to $2.50 from $3.
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