Comments on: How Much Blame Should the Board Get? http://www.allaboutnortel.com/2008/09/18/how-much-blame-should-the-board-get/ All the News about Nortel Networks Thu, 09 Feb 2012 03:34:00 +0000 hourly 1 By: wow http://www.allaboutnortel.com/2008/09/18/how-much-blame-should-the-board-get/comment-page-1/#comment-31878 wow Fri, 19 Sep 2008 22:16:18 +0000 http://www.allaboutnortel.com/?p=1332#comment-31878 Wow - maybe getting some people on the board under 85 would help make NT a little more dynamic... Wow – maybe getting some people on the board under 85 would help make NT a little more dynamic…

]]> By: wow http://www.allaboutnortel.com/2008/09/18/how-much-blame-should-the-board-get/comment-page-1/#comment-3812 wow Fri, 19 Sep 2008 18:16:18 +0000 http://www.allaboutnortel.com/?p=1332#comment-3812 Wow - maybe getting some people on the board under 85 would help make NT a little more dynamic... Wow – maybe getting some people on the board under 85 would help make NT a little more dynamic…

]]> By: Kevin http://www.allaboutnortel.com/2008/09/18/how-much-blame-should-the-board-get/comment-page-1/#comment-3813 Kevin Fri, 19 Sep 2008 05:40:57 +0000 http://www.allaboutnortel.com/?p=1332#comment-3813 MEN is better off getting far away from the current executive team based on their dismal results and decisions over the past three years MEN is better off getting far away from the current executive team based on their dismal results and decisions over the past three years

]]> By: Lonely Ops Guy http://www.allaboutnortel.com/2008/09/18/how-much-blame-should-the-board-get/comment-page-1/#comment-3820 Lonely Ops Guy Thu, 18 Sep 2008 23:54:41 +0000 http://www.allaboutnortel.com/?p=1332#comment-3820 LOL.....You hit the nail on the head. LOL…..You hit the nail on the head.

]]> By: investment-banker http://www.allaboutnortel.com/2008/09/18/how-much-blame-should-the-board-get/comment-page-1/#comment-3814 investment-banker Thu, 18 Sep 2008 17:37:03 +0000 http://www.allaboutnortel.com/?p=1332#comment-3814 Z said they used an investment banker. would it be someone from morgan stanley, aig, citibank, merryl lynch or lehman. figures. Z said they used an investment banker. would it be someone from morgan stanley, aig, citibank, merryl lynch or lehman. figures.

]]> By: rolly reader http://www.allaboutnortel.com/2008/09/18/how-much-blame-should-the-board-get/comment-page-1/#comment-3815 rolly reader Thu, 18 Sep 2008 17:14:31 +0000 http://www.allaboutnortel.com/?p=1332#comment-3815 I once talked to a senior exec about the board after he made a presentation. His comment was that the board "are a bunch of potted plants". I once talked to a senior exec about the board after he made a presentation. His comment was that the board “are a bunch of potted plants”.

]]> By: bankrupt http://www.allaboutnortel.com/2008/09/18/how-much-blame-should-the-board-get/comment-page-1/#comment-3816 bankrupt Thu, 18 Sep 2008 16:50:57 +0000 http://www.allaboutnortel.com/?p=1332#comment-3816 most of them were good at bankrupting companies or running them into the ground. they get paid big bucks to just meet once in a blue moon. have no idea about the business. timeshared across other boards. some are losers with nothing else e.g. manley so being on a board look important.<br><br>30,000 employees should walk into the board room and kick each one of them out. people are stopping to work or taking it easy. so Notel or Nortanic or N*whatever is a reality.<br><br>Also not the arrogance from not accepting blame but putting it on the economy or previous health of the company. why did you hire an idiot, pay him $30million, nice perks for 2 years to do nothing. most of them were good at bankrupting companies or running them into the ground. they get paid big bucks to just meet once in a blue moon. have no idea about the business. timeshared across other boards. some are losers with nothing else e.g. manley so being on a board look important.

30,000 employees should walk into the board room and kick each one of them out. people are stopping to work or taking it easy. so Notel or Nortanic or N*whatever is a reality.

Also not the arrogance from not accepting blame but putting it on the economy or previous health of the company. why did you hire an idiot, pay him $30million, nice perks for 2 years to do nothing.

]]> By: NewBlue http://www.allaboutnortel.com/2008/09/18/how-much-blame-should-the-board-get/comment-page-1/#comment-3817 NewBlue Thu, 18 Sep 2008 15:20:58 +0000 http://www.allaboutnortel.com/?p=1332#comment-3817 "As much as Zafirovski and his senior executives have put together the strategic plan to resuscitate Nortel..."<br><br>The board has total blame. As I posted in response to an earlier blog entry, their failure wasn't necessarily in putting Mike Z in charge; it was from not removing him when it became obvious that Z's plan was failing/a failure.<br><br>The plan presented by Z that the board apparently approved should have included (if it didn't) some serious goals that would have had to be met. It should be fairly obvious to anyone who is even remotely observant that Z's plan was not working. The board either turned a blind eye to the failure of the executive team or is complicit in it. In either case, they must be held ultimately accountable.<br><br>Problem is, there is no real accountability. Everyone (including the company executives) will take their financial perks and payouts and bail, leaving 30,000 people unemployed and a once proud Canadian company in shambles. “As much as Zafirovski and his senior executives have put together the strategic plan to resuscitate Nortel…”

The board has total blame. As I posted in response to an earlier blog entry, their failure wasn't necessarily in putting Mike Z in charge; it was from not removing him when it became obvious that Z's plan was failing/a failure.

The plan presented by Z that the board apparently approved should have included (if it didn't) some serious goals that would have had to be met. It should be fairly obvious to anyone who is even remotely observant that Z's plan was not working. The board either turned a blind eye to the failure of the executive team or is complicit in it. In either case, they must be held ultimately accountable.

Problem is, there is no real accountability. Everyone (including the company executives) will take their financial perks and payouts and bail, leaving 30,000 people unemployed and a once proud Canadian company in shambles.

]]> By: Mickey http://www.allaboutnortel.com/2008/09/18/how-much-blame-should-the-board-get/comment-page-1/#comment-3818 Mickey Thu, 18 Sep 2008 15:04:36 +0000 http://www.allaboutnortel.com/?p=1332#comment-3818 Isn't this the 'ol boys club that gave Owens $100K/mo pension after 18mo of asleep-at-the-switch service (before he decided to work w/ Huawei) and gave Z-man a 22% raise this year for a job well done?<br><br>Pure incompetence, one and all... Isn't this the 'ol boys club that gave Owens $100K/mo pension after 18mo of asleep-at-the-switch service (before he decided to work w/ Huawei) and gave Z-man a 22% raise this year for a job well done?

Pure incompetence, one and all…

]]> By: Dissappointed Shareholder http://www.allaboutnortel.com/2008/09/18/how-much-blame-should-the-board-get/comment-page-1/#comment-3819 Dissappointed Shareholder Thu, 18 Sep 2008 12:47:34 +0000 http://www.allaboutnortel.com/?p=1332#comment-3819 Selling MEN and giving the proceeds to Hacker in Enterprise....yep that makes a lot of sense. Selling MEN and giving the proceeds to Hacker in Enterprise….yep that makes a lot of sense.

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