Comments on: Nortel Employees Launch Lawsuit

By: hong kong

hong kong — Tue, 23 Sep 2008 23:25:36 +0000

your American economy doesnt have enough money to buy anything too busy bailing yourselves out of your mistakes

By: hong kong

hong kong — Tue, 23 Sep 2008 19:25:36 +0000

your American economy doesnt have enough money to buy anything too busy bailing yourselves out of your mistakes

By: Justice

Justice — Fri, 04 Jul 2008 02:57:08 +0000

Good for the employees for standing up…When you join an organization and you become vested in a perk (in this instance a traditional pension plan) that is part of the contract with that employee. Put the shoe on the other foot, when Mr. Z joined Nortel he got $11M and a generous pension plus bonus plan. How would he react if the board changed their mind and said “Sorry Mike we are going to unilaterally change the terms of your contract and we are taking back what we promised” . Mike would have his lawyers off on running shortly there after.

By: Observer

Observer — Sat, 28 Jun 2008 15:14:28 +0000

The last two days on all markets were nothing less than brutality. We are now in a bear market. Many many business models will simply break because of the price of oil. The world is afire with price inflation and a slowing economy. Batten down the hatches.

By: Another Nortel Watcher

Another Nortel Watcher — Fri, 27 Jun 2008 21:45:36 +0000

exnt2 – I bet 100,000 would convince a majority of Canadians to seriously consider the offer. That brings the total cost closer to the cost of being at constant war with the Middle East in order to protect our unfair share of their oil. On top of that, if the 5% of the US GDP that flows to the Middle East for oil stayed in the North American economy and generated industry and jobs, we would all do better.

On the other hand, the real solution is to shake our dependency on oil and create new industries around new energy alternatives and let the oil industry go the way of the railroads. Our addiction to oil is like Nortel's addiction to CDMA. In both cases it's a serious near term problem and leaders in charge of finding a solution are .

By: exnt2

exnt2 — Fri, 27 Jun 2008 15:48:46 +0000

sounds dumb. one little problem. americans dont have enough money. that is 30,000,000,000,000 or 30 trillion. as the second largest exporter of oil, maybe we could acquire the US in a land exchange for oil deal.

when you do not have an economy what are you going to test cruise missiles for. everybody knows what kind of a hole the US is in right now.

By: many

many — Fri, 27 Jun 2008 12:14:09 +0000

BTW this is not the only lawsuit that has been filed by employees aginst nortel
http://www.erisafraud.com/Default.aspx?tabid=1083

By: Observer

Observer — Fri, 27 Jun 2008 02:01:01 +0000

Most _good_ companies have a very good cash reserve. There are huge amounts of cash on the sidelines

Looking at the micro won't help. The Federal Reserve is now in discussions to relax regulations regarding banking ownership rights of Private Equity groups like Carlyle and KKR. These are desperate times at the Fed and banking system. Clearly the companies that need the cash the most don't have it - that's the entire banking system. They still have another $1 trillion in writedowns and no one is riding in on a white horse with that kind of money to rescue the banking system.

By: Observer

Observer — Thu, 26 Jun 2008 23:28:08 +0000

Everyone is underestimating how bad this recession is going to be. Unemployment is going to soar. I am sticking with the call I made in Case for an "L" Shaped Recession.

http://globaleconomicanalysis.blogspot.com/2008...

Mike Shedlock has been dead on with his predictions and analysis since the credit crunch ensued last year. Things are going to be a lot worse than most people think because there was more credit creation in the last 7 years than in the previous 30 years combined.

By: Observer

Observer — Thu, 26 Jun 2008 23:19:24 +0000

I predict a short recession, if at all.

How are you defining a recession ? If its by GDP, then that is an outdated definition as the NBER defines it now by any significant slowdown in economic activity. History will show that recession started in Q4 of 2007 and will last well into 2009. Equities markets are disconnected from realities on the ground. Using telecommunications will certainly help but even this won't matter as consumer spending is what drives most of the global economy because of imports into the US. Consumer spending here in the US is drying up like a mirage in the desert as most money goes towards rising food and energy prices. No recovery in housing prices in sight either as this has started to spread globally now.

By the way, if you don't think there is already a slowdown you are sorely out of touch with reality. Earnings and profits peaked a couple of years ago and are headed nowhere but down.