All About Nortel

For those of you looking for some insight into why CEO Mike Zafirovski and his team are so enthusiastic/confident about the company’s prospects, check out CTO John Roese’s blog today. He has a guest post from chief strategy officer, George Riedel, who provides the key elements of the plan.

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Earlier this week, I found myself in the midst of a “discussion” about journalists vs. bloggers, and my contention that some bloggers should be considered journalists because they offer as much information and insight. I supported my argument by suggesting - not insisting - that there was no reason why Nortel shouldn’t let me into [...]

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As much as Nortel is talking the talk about Wi-Max being a strategic priority, the big question - and one that is being asked by a growing number of people - is whether Nortel has a legitimate shot of becoming one of the leading Wi-Max suppliers. This issue has gained more momentum since Nortel was [...]

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Nortel’s efforts to become a major Wi-Max player picked up a little bit of momentum - let’s not get too excited here, shall we! - when Mobile Satellite Ventures and Wind Telecom agreed to use its technology. Mobile Satellite will test Nortel’s Wi-Max technology in North America while, Wind Telecom will use it in the [...]

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Alcatel-Lucent has snagged a three-year, $6-billion contract to supply hardware, software and services to Verizon Wireless, which wants to expand its network to offer high-speed access and video. The deal comes three months after Nortel unveiled a $2-billion, five-year contract with Verizon. “While not wholly unexpected … it is encouraging that Verizon is extending its [...]

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Here’s a recap of some recent activity by financial analysts:
Robert W. Baird lowered its 2007 revenue estimate to $11.2-billion from $11.5-million, while raising its EPS target to 75 cents from 74 cents. For 2008, Baird is looking for revenue of $11.6-billion and EPS of $2, compared with an earlier estimate of $11.7-billion [...]

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Nortel shares fell 51 cents to $24.07 as investors digested news of the company’s plans to raise as much as $1.15-billion through a convertible note offering.

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Who’s got some money for Nortel? Any institutional investors willing to give Nortel a cool billion dollars or so? Well, it’s your lucky day as Nortel wants to sell $1-billion of senior unsecured convertible notes through two tranches - one that will mature in 2010 and another that will mature in 2014. Nortel said it [...]

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According to the Ottawa Citizen, Nortel paid CEO Mike Zafirovski a sweet $8.27-million last year, while CFO Peter Currie made $2.25; Richard Lowe (head of carrier operations) $2.19-million and Dion Jonnou (head of North American operations) $2.11-million. Meanwhile, Brandes Investments Partners doubled its stake in Nortel to 10.8% from 5.4% las year.

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Deutsche Bank Securities has maintained its “hold” rating on Nortel, while raising its target price from $20 to $24. In a research note, Deutsche Bank said Nortel reported 4Q 2006 revenues that were ahead expectations while pro-forma EPS fell short of the estimates. The investment firm expects Nortel Networks Corporation to “witness difficult trends in [...]

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