All About Nortel

It’s good to see it’s not all doom and gloom in Nortel Land these days - what with financial results that have made Nortel a penny-stock again, and another 2,000 job cuts.
The positive news is CEO Mike Zafirovski’s compensation package jumped 21.5% last year to a whopping $10.1-million. His stock units climbed 76%, his stock [...]

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Given about 50% of this blog’s readers are Nortel employees, I’m curious about how they feel about the current corporate landscape in the wake of the disappointing financial results and the elimination of another 2,000 to 3,000 jobs.
Is there any sense of optimism these days? Do you have faith the management team is leading the [...]

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Here’s what Barron’s Stocks to Watch blog Today had to say about Nortel:

ANOTHER SHOT ACROSS NORTEL BOW
There are three things that Canadians all seem to agree on: they like that Loonie/USD trade these days, that Guy Lafleur was one heck of a hockey player, and Nortel Networks (NT) is trapped in some kind of a [...]

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UBS Securities has jumped off the Nortel bandwagon, dropping its stock price target to $11 from $15 amid disappointment that the company’s business transformation is “slower than expected”.
In a research report, UBS analyst Nikos Theodosopoulos said Nortel needs to have a more narrow strategic focus:
Nortel’s “Broad based strategy likely makes the road to recovery tougher. [...]

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For all the work that CEO Mike Zafirovski and his overhauled management team has done over the past 2+ years, Nortel seems no closer to being revitalized.
The stock’s decline to below $10, or $1 when a 1:10 stock consolidation is accounted for, has everything to do with investors growing belief that Nortel’s prospects are, at [...]

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Boy, oh, boy, investors did not like Nortel’s fourth-quarter results and/or outlook for 2008.
The stock is down $1.43, or 13%, to $9.98 after hitting an intra-day low of $9.67. Taking into account the 1:10 stock consolidation, Nortel is trading at 98 cents, and now sports a market capitalization of $4.3-billion.
Here’s a table of where [...]

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Nortel’s fourth-quarter results produced nothing too exciting after taking into account a $1.04-billion tax-related charge.
The far more interesting development is a plan to slash another 2,100 jobs - something that has been hitting the rumor mill in recent weeks - while moving another 1,000 positions to “higher growth and lower cost geographies”.
Is this the sign [...]

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Nortel’s fourth-quarter and 2007 results come out tomorrow. Here’s all the information you need to know about what’s happening:
Webcast: www.nortel.com/q4earnings2007
To participate in the audio teleconference and Q&A, call:
- North America 1-866-898-9626
- International 1-416-340-2216
A [...]

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RBC analyst Mark Sue took a baby step last month by cutting his target price to $16 from $18.
Now, he’s taking a major step by slashing his target price to $10 ($1 taking into account the 1:10 stock consolidation) from $16, while maintaining his “sector perform” rating.
Sue said the decision was based on the fact [...]

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Nearly four years after two Nortel senior executives were fired for cause, the Royal Canadian Mounted Police (RCMP) is poised to charge Doug Beatty and Michael Gollogly with criminal fraud amid allegations they cooked the company’s books to trigger a lucrative bonus plan.
Citing sources, the National Post is reporting that the RCMP notified Beatty, Nortel’s [...]

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