Comments on: The New Nortel?

By: Justice

Justice — Wed, 24 Sep 2008 08:30:47 +0000

Here are some thoughts
1) Low cost centers (China, India etc) don't have unions
2) Low cost center workers won't whine about the executive's performance since the worker knows their place
3) Wages saved on uses low cost centers can be used for more important things like paying the executives huge bonuses.
Get the idea?

By: Justice

Justice — Wed, 24 Sep 2008 04:30:47 +0000

By: Another Nortel Watcher

Another Nortel Watcher — Tue, 23 Sep 2008 06:32:01 +0000

Some boards are willing to act. Mike Z's performance is right on par with that of the Circuit City CEO who just got kicked to the curb. Both presided over company value erosion in the 90% range. Not many CEOs can add that to their resumes.

http://dailybriefing.blogs.fortune.cnn.com/2008...

By: Another Nortel Watcher

Another Nortel Watcher — Mon, 22 Sep 2008 17:58:55 +0000

Did you mean to say 'Top and smell the Roeses'?

By: Daphne

Daphne — Mon, 22 Sep 2008 17:37:39 +0000

Maybe we should take the “patriotic” approach, as presented by Barack Obama. The remaining employees should all take a cut in pay to finance the executive team's salary for another year.

Yeah, right.

By: The Psychiatrist

The Psychiatrist — Mon, 22 Sep 2008 14:40:47 +0000

exnt

I think your points are well taken.With all that is happening and has happened over the coarse of Mike Z's hiring,I just dare any level manager inside Nortel to come out and justify that they all deserve to keep their jobs and disproportionately high salaries considering the steadily declining financial health.

There are far too many managers inside Nortel knowingly feeding off of Nortel's declining health,all the while just waiting for their turn to come up so they can walk away with a package.

The best thing that can happen to Nortel now,is that someone makes an offer and cleans house,I mean totally cleans house to the point that no curent manager can feed some BS line to justify their department gets a stay of execution like they have done with the GE team.

The lack of any significant transaction since Mike took office, whether it be selling a unit that its managers knew would not achieve the objectives that Z had in mind and instead narrow their focus on areas where they have a chance at winning.Now that all the excess costs have been squeezed out of Nortel's entire organization and having found that it has done little to improve their financial strength,it is only now that it has become apparent as Z has acknowledged "The status quo is not an option for Nortel",I hope this is the beginning of some significant long overdue changes that are badly needed in order for them to make it against much larger rivals.

I'm sure many will be watching and waiting.

By: more

more — Mon, 22 Sep 2008 03:51:50 +0000

Death by 1000 cuts. To be a good COO at Motorola is one thing. To believe that all you need to be a Nortel CEO is a good COO is another…operational efficiency overkill. Stop and smell the roses for gods' sake.

By: exnt

exnt — Mon, 22 Sep 2008 01:34:10 +0000

I remember the old saying that management gets the union they deserve. Nortel certainly deserves a union for their employees and it should be the Teamsters. The greed of upper management, lack of concern for employees and customers, cronyism, and incompetence is monumental.

By: simple-message

simple-message — Mon, 22 Sep 2008 00:56:23 +0000

its time Nortel employees took to the streets, went on strike or throw some eggs at their ruleing executives.

By: Another Nortel Watcher

Another Nortel Watcher — Sun, 21 Sep 2008 21:00:46 +0000

Then send the same lawyer to visit the insurance company that's holding the personal liability policies for the board and cabinet members. Rattle the cage with the insurance company and tell them that class action legal trouble is coming if the board doesn't act. That oughta help stir things up a bit.