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More Questions about NT
By Mark Evans | March 15, 2007
If you’re at all intrigued by the never-ending Nortel soap opera (senior executives - CFO Peter Currie - abruptly announcing their resignations; more financial statements, a civil fraud lawsuit from the SEC, etc.), then you should wander over to J. Richard Finlay’s blog on corporate governance. In an insightful post, he highlights and questions Nortel’s inability to produce accurate financial statements, and suggests the company has a major corporate governance problem. Finley caps his post with a sweet comment: “Nortel needs a lot more than another accounting restatement. With its history so steeped in scandal and its present still darkened by constant financial backpedaling, it needs to think through whether Nortel can go on being Nortel.”
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Topics: Financials, Legal Issues |