Comments on: A New, Different and Small Nortel

By: bankrupt

bankrupt — Thu, 18 Sep 2008 21:22:56 +0000

hey guys cool off. if it struck a sentimental chord then apologize. I meant it in a lighthearted way because I was there too. but nobody gives a damn about you whether you work hard or not. nobody gives a crap on how quickly you developed a feature or a customer you helped. management only takes care of themselves.

I also meant to wake up people to reality cuz many still believe in turnaround, improvement, change. just CEO hooey. try get your packages before this ship does a belly flop and ends in a graveyard of busted companies. if you still believe the bs, the advice to buy shares because its a good deal then dont cry later.

By: Vested Interest

Vested Interest — Thu, 18 Sep 2008 19:10:24 +0000

Nasir and others, have any of you ever heard Mike Z reference Jim Collin's book 'Good to Great'. I've been to see Mike Z make two presentations where he spoke extensively about this book being almost as important to him as his bible. I was interested so I bought a copy. Collin's identified 10 companies that have attained 'enduring greatness' by doing 10 things. Mike Z has been 0/10 on these so this all talk CEO probably hasn't read the book and I'm sure with Mike Zs track record I bet Jim Collins wishes Mike would stop mentioning his name.

By: bankrupt

bankrupt — Thu, 18 Sep 2008 17:22:56 +0000

By: Vested Interest

Vested Interest — Thu, 18 Sep 2008 15:10:24 +0000

By: Nasir Khan

Nasir Khan — Thu, 18 Sep 2008 08:52:28 +0000

I must say the CEO was very irresponsible, arrogant and inflexible. Until Aug 1st he kept on insisting that revenues will grow by low single digits. Being an invester I have learnt my lesson. Don't trust big mouth CEOs. Also he had no strategic vision for the company. Just cost cuts with no consideration to balance sheet or top line growth, keeping legacy businesses and now decision to sell his top technogy MEN.

By: Observer

Observer — Wed, 17 Sep 2008 23:03:59 +0000

Its been over for a long time. It just took the popping of the largest credit bubble in history for it to finally be really over. Nortel won't be the only company its over for. I've found Nortel to be a pretty good leading indicator for the broader economy. This time will be no different.

By: smilin_bill

smilin_bill — Wed, 17 Sep 2008 21:21:09 +0000

Surprisingly they have managed to roll this over, not sure what the repayment schedule looks like, but 2011 is the next year they have a large chunk of debt coming due.

By: RAT-Hole-Hater

RAT-Hole-Hater — Wed, 17 Sep 2008 20:41:14 +0000

R-A-T,

What in the world is wrong with you.?

If you lost a lot of money on Nortel and hate the company, hate the CEO, hate the Board, hate the Execs … I can understand that. But to call the employees suckers immediately invalidates anything meaningful you may have been trying to express. I was a proud NT employee in the 90's and have kept in touch with many people in the company. They're like most people – fathers, mothers, … most work hard, do their best, try to support their families and save some for later on in life. You are a complete $%^&*)(*()*()*()E idiot to reduce them to “suckers” based on their employer.

By: resigned_in_2005

resigned_in_2005 — Wed, 17 Sep 2008 20:20:21 +0000

Yeah Norhell, that's right – continue to pay for dolts like Owens while you once again start walking people out the door.

To those good and HARD workers still inside – there IS life outside, and you can make it – just make the effort and push off the rail. Leave them before they label you downsized, optimized, or whatever dumbazz HR label they come with.

By: smilin_bill

smilin_bill — Wed, 17 Sep 2008 20:13:10 +0000

700M in convertible notes that come due this month.

ouch.