This is the latest example of management spinning its decisions no matter what those decisions are. Previously, the clowns justified the scope of Nortel's activities, and now shareholders get the justification for narrowing the focus. The only constants are large management paychecks and shrinking stock price. It's a 28 cent stock pre-split, for pete's sake. Now the economy will take the blame, as the stock goes down the drain. Listening to their happy talk on investor day was something else. The Board remains a joke, and the company should have been sold a long time ago.
NewBlue
I have to agree that more and more it appears that the BoD are the primary culprits in the failure of this company. It's not that they put Z in charge in the first place; it's that they've left him in charge in the face of catastrophic results. Disastrous.
Donn
I sense a new Nortel buzzword hitting the telecomms vocabularly ……. 'Hypercontractivity' …………
rolly reader
For any people let go from Nortel, we have uncovered a job opportunity. The Canadian “Men in Fleece” unit is looking for volunteers. Pay is good and your mission is to stop global warming by getting Americans to believe that global warming is not caused by evil communists in North Korea. Put on your Sorels and tuques and go to the Tim Horton’s on Baffin Island and wait for your sign.
Jay
Holy Crap …. NT went down today by 50%. Maybe Mike Z needs to downsize his paycheck and fire half of his executive team. What worthless bunch of company leaders…..
many
Jay,
Mikey needs another raise! He sure has earned the one they just gave him
Tired of spin
This is the latest example of management spinning its decisions no matter what those decisions are. Previously, the clowns justified the scope of Nortel's activities, and now shareholders get the justification for narrowing the focus. The only constants are large management paychecks and shrinking stock price. It's a 28 cent stock pre-split, for pete's sake. Now the economy will take the blame, as the stock goes down the drain. Listening to their happy talk on investor day was something else. The Board remains a joke, and the company should have been sold a long time ago.
NewBlue
I have to agree that more and more it appears that the BoD are the primary culprits in the failure of this company. It's not that they put Z in charge in the first place; it's that they've left him in charge in the face of catastrophic results. Disastrous.
Donn
I sense a new Nortel buzzword hitting the telecomms vocabularly ……. 'Hypercontractivity' …………
rolly reader
For any people let go from Nortel, we have uncovered a job opportunity. The Canadian “Men in Fleece” unit is looking for volunteers. Pay is good and your mission is to stop global warming by getting Americans to believe that global warming is not caused by evil communists in North Korea. Put on your Sorels and tuques and go to the Tim Horton’s on Baffin Island and wait for your sign.
Jay
Holy Crap …. NT went down today by 50%. Maybe Mike Z needs to downsize his paycheck and fire half of his executive team. What worthless bunch of company leaders…..
many
Jay,
Mikey needs another raise! He sure has earned the one they just gave him
Riedel Explains the MEN Sale
Nortel’s chief strategy officer George Riedel talks to Nortel Buzzboard about the plan to sell the Metro Ethernet Network business.
Technorati Tags: Nortel