All About Nortel

Nortel has completed the redemption of $1.8-billion in 4.2% convertible senior notes that were due September 2008. The notes were completed using the net proceeds from a $1.15-billion offering of convertible notes that was completed earlier this year.

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Sometimes, you have to wonder if it’s ever really going to go Nortel’s way; whether the sun will shine rather than dark clouds looming overhead.
Case in point is problems being experienced by one of Nortel’s high-profile customers, The New York Times, with its communications network that has left reporters and employees without phones or e-mail. [...]

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First, Avaya got snapped up by private equity investors; now it’s 3Com. 3Com has been acquired by Bain Capital Partners for $2.2-billion - a move that will see it be taken private and have Huawei Technologies take a minority stake.
3Com shareholders will receive $5.30 in cash for each share of 3Com stock, or a premium [...]

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TD Securities analyst Chris Umiastowski, who covers Nortel as well as anyone these days, just published an extensive report looking at six of the company’s key R&D opportunities. He believes Nortel’s most important R&D programs are PBT, Wi-Max and enterprise data.
“In our view, carrier ethernet, Wi-Max and enterprise data have the most appealing gross profit [...]

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Steve Slattery gets unceremoniously bumped from Nortel after a 20-year career even though the division he headed, enterprise, has been one of the few brights lights this year with 23% year-over-year sales growth in the second-quarter.
So, you’ve got to love this oh-so diplomatic quote from his successor, Joel Hackney, who explained to Network World why [...]

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Joel Hackney, the embattled Nortel senior vice-president, who found himself in hot water earlier this after a bizarre road rage incident, has been promoted to president, enterprise solutions.
Out the door is Steve Slattery, who spent more than 20 years with Nortel. He’s just the latest in a string of senior executives to leave the company. [...]

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After a stock has hit rock bottom, when do you know it’s a good time to start buying it? If investors knew the answer, they’d all be rich because, after all, timing is everything.
Motley Fool tries to tackle this investment challenge through something called CAPS, which assigns each stock a rating from one to five [...]

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Given Nortel’s on the record that it’s interested in making an acquisition, there’s no lack of speculation about who it could buy.
The most recent scenario is Nortel hooking up with 3Com and Polycom to become a stronger competitor to Cisco in the enterprise market. Sramana Mitra writes that combining three “dwarves” would
“create more efficient industry [...]

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It’s interesting to see analysts have dramatically different views on the prospects for a company’s stock.
Earlier this week, UBS analyst Nikos Theodosopoulos published a report that questioned why investors were under-valuing Nortel - a stock he believes is worth $34. It’s certainly a bullish approach at a time when Nortel shares have been declining, and [...]

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A few years ago when I reporter with the National Post, I asked a Nortel PR person - just out of curiosity - why they weren’t running away to a job that didn’t involve accounting scandals and a shrinking stock price. His answer was a little surprising. The reason he stuck around was it was [...]

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