After hiding out for most of the past two years since he was abruptly booted from Nortel for allegedly cooking the books to trigger a lucrative bonus structure, the Ottawa Business Journal reports that ex-Nortel CEO Frank Dunn has emerged in Ottawa as a business strategy advisor with QCL Growth Partners Inc., a consulting firm. According to Dunn’s profile on QCL’s Web site, his experience serving on several board for telecom and technology companies have “given him deep and broad perspectives on effective organizational management, particularly in the high technology sector.” For the record, Nortel is trying to recover $13-million paid to Dunn, ex-CFO Douglas Beatty and ex-controller Michael Gollogly. Dunn is also involved a regulatory dispute with the Ontario Securities Commission.
Why isn’t this guy in jail? He has caused serious hardship on many people in terms of their financial investments and employment. I personally want to see him locked up for his crime. Son of a Gun sure did not care about his people just himself. Something is wrong if he could just refund his stolen money and keep working like nothing happened.
another_anonymous_nortel_employee
Canada does not have a strict laws like in US. I think that’s changing since Dunn’s “booting” from Nortel. I am unhappy for a lot of employees who were let go, and for all things that have happened to us. Obviously, it looks like that ‘Excellent Resume writing skills’ really pay off in this country.
zxcv
I hope they give him some interpersonal training. Its probably not as acceptable to spit on people as you speak when you are a consultant. Also need to stay away from boring golf stories. Although I doubt he will be telling stories about his exploits in accounting at Nortel…
Bill Ritchie
After further inquiries with Mike Z and discussions with Nortel’s investor Relations, it appears they are NOT going to compensate any shareholder, period.
Their policy appears to be to ignore all investors who “hung in there†hoping the “old†stock value would come back ’some day!’ Well, forget it, it’s not happening. The reverse split of 1 for 10 put a stop to that–BIG TIME.
( It was suggested a contingency fund be created to refund loyal investors who stayed with Nortel on the expectation their stock value would improve under new management. )
If you did not participate in the two class action settlements that expired on November 20th 2006 then you qualify for this new law suit.
We need to know how many (pre Dec 1st 2006)shares you hold and at what price you paid for them. If the average paid is below say, $8. then it may not be in your best interest to participate. It’s possible that the stock “might†climb to $80. some day!
Looking forward to receiving your information–type Nortel 1 for 10 in the subject of your e-mail.
Thank you, Bill Ritchie. cwritchie@cogeco.ca
Frank Dunn’s Alive!
After hiding out for most of the past two years since he was abruptly booted from Nortel for allegedly cooking the books to trigger a lucrative bonus structure, the Ottawa Business Journal reports that ex-Nortel CEO Frank Dunn has emerged in Ottawa as a business strategy advisor with QCL Growth Partners Inc., a consulting firm. According to Dunn’s profile on QCL’s Web site, his experience serving on several board for telecom and technology companies have “given him deep and broad perspectives on effective organizational management, particularly in the high technology sector.” For the record, Nortel is trying to recover $13-million paid to Dunn, ex-CFO Douglas Beatty and ex-controller Michael Gollogly. Dunn is also involved a regulatory dispute with the Ontario Securities Commission.
Technorati Tags: Nortel, Frank Dunn