Bill Owens: Telecom Wheeler and Dealer

By Mark Evans | Published: September 11, 2008

Bill Owens
According to the Ottawa Citizen, ex-Nortel CEO Bill Owens is part of an investment group looking to buy a majority stake in Huawei’s fast-growing wireless handset business.

AEA Investors is apparently competing against Silver Lake, Bain Capital, KKR and Goldman Sachs to do a deal with Huawei, which is looking for a way to gain a foothold in the U.S. so it can overcome political opposition from Congress.

While Owens has the freedom to play in the telecom market, he’s still on the Nortel payroll. As part of his “resignation” from Nortel in 2005, Nortel agreed to pay Owens a $2-million lump sum. He also started to receive a pension that started with a $703,913 payment in June 2006, and now includes monthly payments of S$99,073 through November 2010.

As well, Nortel agreed to accelerate the vesting for all of Owens’ 2.9 million stock options.

For more on the battle to invest in Huawei, check out this Reuters story.

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  • Rich get Richer

    2.9 million stock options…which have to be underwater…unless he REALLY got a sweetheart deal.

  • Shackled

    Does it really matter if his stock options are underwater? He's still making a killing at NT employee's expense. When I see these execs raping the company like this after no visible positive contributions during their tenure it makes me wish NT would just go bankrupt so they can't milk it anymore.

  • NT-Emp

    Yah, Owens gets $99,073 dollars a month… how many employee jobs could Nortel pay for $99,073/month? Probably about 10 or 11 North American jobs gone to pay Bill Owens 'pension'

    And the rich continue to get rich on the backs of the middle class.

  • many

    Probably underwater he was a submarine commander…..

    Ya know, this is the kind of nonsense (and not the worst example, by far) of why people are so down on nortel. I hope John Roese reads this and then understands why people make snide comments on his blog.

  • broadbandbill

    John Roese doesn't understand a single thing about Nortel; he doesn't have to, he's hyper-connected…–bb

  • The Psychiatrist

    The worse part of Bill Owens getting ridiculous amounts of money monthly,is that now he is essentially competing against Nortel by participating in a group that wants to bring Huawei into North America,a place where Nortel still holds an edge over Huawei.

    Imagine that a $100k a month and competing against the company who is actually paying this amount of money to him.

    Some human beings have no conscience,and there has actually been a study that examined the brain processing of individuals who are viewed in our society as people who have an immense sense of self entitlement,like certain business leaders,politicians and other public figures.

    Maybe this package awarded to Bill Owens was the part of the BOD of Nortel,but to be involved currently with a group of investors that want to bring a competitor of Nortel's to North America with the hopes of taking away some of Nortel's pie just shows that Mr.Owens falls into that category of little or no conscience along with a disproportionate sense of self entitlement.

    Most of these individuals also have no sense of shame,does that remind you of any other public figure that has been on the receiving end of absurd amounts of money?

  • Clint

    The Admiral kind of reminds me of Captain Crunch on a heavy dose of qualudes
    and valium. He just wasn't all there.
    He looked like a man overboard and is acting like that now while collecting a hefty paycheque. Same crap happens at cisco or lucatel.
    Even worse in the government.
    Joke.

  • ex-nortel^2

    Captain Crunch on a heavy dose of Qualudes and Valium. He just wasn't all there.

    That's a keeper.

  • exnt

    Internally, he was called Admiral Gilligan.

  • Clint

    He also reminds one alot of Mister Rogers..an older one at that.
    Just listen to one of his speeches.
    Would you be, Could you be my boat anch…er neighbour.

  • Observer

    So this is what Comrade Owens has been up to.

  • Observer

    So this is what Comrade Owens has been up to.

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