Will Mike Z. Stick Around in ‘09?

In terms of human beings Nortel reminds me more of Hugh Hefner than Burress, whos (still) just a dumb kid. Hef has enjoyed a long, extraordinary and illustrous and (to most regular studs) most enviable life.

His magazine was ground-breaking, and remained forever - dare I say - head and (padded) shoulders above the competition. Nary a woman on earth that matched his flavor ever resisted his charms. Our boy played with them a bit and then moved on to the next bunch of willing ,nubile wenches. Joe Sixpacks and seasoned rock stars alike dreamed about visiting the Playboy Mansion before they died. Everybody won.

Hef suffered stroke, his empire suffered a slump in the 80s, and its stock is down again today. But Hef soldiered on. At some point Hef handed daily ops over to his daughter and just lived the good life. As did Nortel.

"Playboy" these days earns most of its money via branding and licensing, thanks to Nortel and others who have paved the way for young bucks to enjoy, well, titalations online, instantly, 24/7, in HD, for free, even.

But, see, Hef's gotten older. He's had to resort to taking Viagra for a while now, and recently one of his live-in bunnies dumped him supposedly because she wanted a good-old fashioned baby but he declined.

Hef has opened his Playboy Mansion doors - dare I say - a crack to let the public peer into its inner workings via the show "Girls Next Door". Its not all that exciting to this old fart anymore, not even for nostaglic reasons. Love and broads come and go. So what else is new?

Our girls have long since moved on to adore Dr. McDreamy. Hef had a good run. I can't feel sorry for him, nor would I rally to keep him on life support. The Playboy crowd will persevere.

Nortel too lived the good life, became an old stag and is out of new tricks. Its not some disabled Third World orphan left to starve under the oil platforms' shadows.

...so what else is on the Internet tonite....

Only two blog comments on Nortel's Announced LTE Strategy ,yet the one on whether or not Mike Zafirovski will still be at Nortel has 21 comments and counting.

It just goes to show the nature and hypocracy of human beings-they would much rather see the suicidal individual jump off the building then to be coaxed down.

Kind of says alot about human nature now if they could only be convinced of their perversions,then maybe we could look forward to a brighter day as a species.

The way to move forward is to focus on the things you don't do well. Besides, LTE is a trial; long time evolving (LTE, get it?)...--bb

Haha! Now I can't help but think about that Giant's wide receiver, Plaxico Burress who figuratively shot himself in the foot by literally shooting himself in the leg in his ongoing efforts be a true playa, roll wit da homies, keep it real, yo, in a pricy NYC nightclub all the playas need to frequent. His teammate Antonio Pierce took him to the ER, then helped him cover it up.

Much like Nortel has done to itself repeatedly.

Ask yourself: Is a partner-in-crime a true friend, do the Giants really need Burress to win (or even simply play on), does the NFL truly need the Giants to survive, do we need doctors at our local hospitals who decide when and if to report gunshot wounds as required by law?

Does anyone,/b> need the rabid fans who blindly defend Plax by blaming his failures on everything from global warming to racism?

Now replace above-mentioned Plax with Mike Z. His teammate with the Nortel BoD. The Giants with Nortel. The NFL with the telco industry. The nightclub owner and star-struck doctor with analysts and Nortel cheerleaders, fans, employees, stockholders, and sundry New Age types who conjure pat (Cisco) conspiracies, suddenly recall a citizen's right to bear arms for protection, to boost game-wining self-esteem, and even pull the Uncultured American card on all and any spewing hata.

Jump the shark to save the whales! Give 'em one more second chance.

Maybe Burress/Nortel can develop reality shows depicting their wild and crazy lifestyles?

In the past there were so-called sports fan(atic)s worldwide who publicly, oft fervently, even violently rooted for their teams to win and their opponents to lose. But on the eight day of the dawning of the Age of Aquarius these sad trolls were finally outed as bitter, cultish hatas whose negavtive attidudes were to blame for the world's ills, and soon disappeared.

Self-proclaimed "experts" such as sports analysts were dispensed with. Many of them, say, declared the Detroit Lions the worst NFL team of 2008, only stoking the negative global vibe and the city's auto industry downturn. Nothing good ever comes from negative criticism. Sure, there remained a few Lions fans who criticized players, coaches, management

http://cache.daylife.com/imageserve/05Mccrx0ltg...

but they too eventually joined the non-biased masses assembled in the free bleachers in raptorous chant: "we kindly request players offer an exciting game played fairly, without fouls or racial bias, ending in a tie. And with some of the profits going to further explore green energy, please!!!"

Yeah. This last summer some Euros enjoyed their hard-earned vacations at the beach near Napoli despite the bloated drowned corpse of some old geezer washed ashore nearby. Neapolitans are so busy bemoaning global warming submerging their wonderful town its now awash in tons of household waste. Buncha plastic stuff. Made from oil, you know.

Nah. Too many humans revolve in a perpetual cloud of idle time which begets idle hands and makes for idle minds. This too often results in rote recital and stupor - worshipping false idols, self-proclaimed prophets and sucking up to their favorite political actvists whilst cheering althletes and celebrities who too feel the pain of the common prole and thus raise awareness via satellite from Beverly Hills or en route to the Mediterranean.

And guess what, if you sit on the banks of the holy river Ganges - thats in India - long enough, you'll see a dead body float by, too. Perhaps wearing a shirt with a Nortel logo on it.

Its called culture, embrace it .

your post is a bit offensive. stick to nortel rather than babbling on.

I take it you're addrressing The Pychiatrist as it was he/she/it who changed the subject from LTE to suicide, humans as a perverted species, etc. If The Psychiarist can digress, surely the unbathed masses may follow their lead?

The only way Mike Z is leaving is feet first. He realizes this is his last job. He has no chance of getting another comparable position after his destructive stewardship at Nortel. He will stay to the last paycheck is written and the last employee is shown the door.

And, at this point, the BOD simply can't find any executive willing to take over a company falling off a cliff towards bankruptcy. Once a company goes into bankruptcy all of the executive compensation plans become null and void. New compensation plans become the play toy of the bankruptcy court and the trustee. No competent executive is leaving his current job to go to Nortel.

Are you really Happy? It seems every time I read on of your comments it is always bleak and dismal... (and it is not just the subject) Perhaps your inner child is yearning to be the next CEO of NT...besides if you are so happy why bother reading and commenting on Nortel on AAN...perhaps we should consult the Psychiatrist who often writes on this blog..

Oh Psychiatrist.....

... do please show us your degree. And stock portfolio, while you're at it. We sure could use some enlightenment.

payroll is protected under bankruptcy.

HRCE,

I disagree; this may be his last CEO job but he is still a solid operations talent and there will always be a need for such executives. Plenty of run-of-the-mill companies out there (transportation, consumer products, financial services, etc.) that don’t require great internetworking instincts, superb strategic skills and/or talent-recognition awareness that could use his operational talents, which one cannot deny. There is life after death; I assure you…--bb

Whats a rule worth if you change it more often than your underwear. Check the date on this blurb: December 2

"Freddie Mac plans to meet NYSE listing rules
Associated Press, 12.02.08, 04:59 PM EST

Mortgage finance company Freddie Mac said Tuesday it has told the New York Stock Exchange it plans meet listing requirements by May 18, possibly through a reverse stock split, to prevent itself from being delisted."

According to your source, Paul, Fannie Mae has absolutely nothing to worry about since November 14. Nortel is in the clear, then, too.

Now I'm confused. And I'm not buying any of these stocks put on crutches until I find out whats really going on.

And Mark....maybe you could have spontaneously corrected John's delisting mistake?!? Oh well, you've made enough significant efforts in terms of partiality lately. One cannot ask too much soon I guess.

erratum: too much too soon!

"The company already conducted a 1:10 reverse split just two years ago. Reverse splits rarely work well for holders. Unless a major doubling rally occurs, this week will make it almost 20 consecutive trading days of Nortel's stock trading under $1.00. That means that the Christmas present from NYSE will be a card in the mail with the potential de-listing notification pending a hearing and plan for remedy."
_______________________________________

Sloppy job!!! He should have known that the SEC has recently changed the 1$ rule! No risk of delisting on this side.
Sigh! Journalists!

actually if you really look at nortel you could call it a penny stock fit for the pink sheet listing....

The rules haven't changed, per se:

However, while the rules are generally considered to be written in stone, they can be overlooked for a short period of time if the exchange deems it necessary. For example, on September 27, 2001, the Nasdaq announced that it was implementing a three-month moratorium on price and market value listing requirements as a result of the market turbulence created by.... September 11, 2001

Conclusion
Some argue that delisting is too harsh because it punishes stocks that could still recover. However, allowing such companies to stay listed would result in the major exchanges simply diluting the caliber of the companies that trade on them and degrading the respectability of the companies that maintain the listing requirements. Therefore, if a company that you own is delisted, it may not spell inevitable doom, but it is certainly a black mark on that company's reputation and, if the company can't recover, a sign of diminishing returns down the road

What would the good people say if their governments issued a moratorium on their friendly neighborhood HOA rules by placing families without income into any avilaible vacant housing, then picked up the tabs for rent and utilities while permitting only the new occupants to disregard even the most routine mundane groundskeeping "in these troubled times"?

Where in said socialist paradise is the incentive for anyone to become or remain a productive member of society, much less mow the lawn, because doing so would only promote global warming?

Wake up, its make 'em to break 'em time anyway:

"There's no getting around the Constitution's ineligibility clause, so Hillary Clinton is prohibited from serving in the Cabinet until at least 2013, when her current term expires," Judicial Watch President Tom Fitton said in a statement. "No public official who has taken the oath to support and defend the Constitution should support this appointment."

Not so fast, most legal scholars say.

In the past, lawmakers have found a way around the clause, with Congress changing the salary of the office in question back to what it originally was.

"There are many ways around this problem," CNN legal analyst Jeffrey Toobin noted. "One is for Congress to vote a lower salary. Another way is for Hillary Clinton simply to accept a lower salary. Another way is simply to ignore the problem on the idea that no one has the right, has the standing, to sue to stop her from being secretary of state.

"This is not going to be an impediment to her being secretary of state," Toobin argued.

Judicial Watch takes issue with the precedent.

"We think it's inadequate," Fitton said. "You can't amend the Constitution through legislation like that. ... The Constitution doesn't have any caveats. It's plain as day."

The birth of a new nation at the dawn of the New World Order is come at last.

In the interim (until LTE earns NT back those $4-5 bio) Mike Z too could get on the NWO bandwagon by similarly bending them rules by working for free, or at least accept only compensation commensurate with overall performance as determined by his employees and the international stock tickers.

"So sue me," says the boss.
"Just ignore them all," say his advisors.
"They have no right, no moral standing, to earn more than us. These are troubled times."

1-NYSE kills sub-penny halt rule, re-list 91 stocks

Fri Nov 14, 2008 10:43am EST

NYSE to relist 91 stocks, including Fannie, Freddie

* Stocks below $1.05 will no longer go to Arca

* NYSE to round sub-penny quotes to nearest penny

NEW YORK, Nov 14 (Reuters) - The New York Stock Exchange will no longer halt trading in stocks that fall below $1.05, allowing the exchange to relist some 91 securities, including U.S. mortgage giants Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz), Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) and Nortel Networks Corp (NT.N: Quote, Profile, Research, Stock Buzz).

The exchange's parent, NYSE Euronext (NYX.N: Quote, Profile, Research, Stock Buzz), said it received approval from the U.S. Securities and Exchange Commission to relist the securities, starting Monday.

The move eliminates the "sub-penny trading halt" rule that bumps depressed stocks to NYSE's small-cap Arca platform. As of next week, the NYSE will round quotes that trade in increments below one cent to the nearest penny.

(Reporting by Jonathan Spicer; editing by Jeffrey Benkoe)

So all and any pulbicly traded company will always be worth 1 penny, no matter what.
This *moratorium* is enacted to - what - entice investors into buying depressed stock, because its listed on the kinder, gentler NYSE, nuff said.

My only point was: no risk of delisting because of being sub 1$. That's it!

That's it?
What about market cap requirements for Nortel corporation to be listed on NYSE?
$250 mill market cap is outrageous!
If market does not see value in NT, de-list that POS ASAP to protect new investors from buying corrupt stock_company!
Have analysts spoken about NT targets?
Why a stock with price target Zero is listed and traded?
Shame on NYSE!
If you want a lesson Mark Sue will tell you why NT stock is doomed to be Zero!

In all fairness Nortel's objectives and outcome conflict.

I dot not believe the board and management tanked the company as fast as possible intentionally, contrary to the contovertial results might indicate.

How can we question their efforts when the compensation was certainly there =)

Credibility is another matter now as no one takes their future breakthroughs or projections seriously, they could have done better more modestly I feel.

The should have, could have, would have done things differently in hindsight is easy...like should they have acquired or divested differently back then..well that was then. It's over.

What should they do now is most pressing and I regret seeing limited choices hardly worthy of any optimism like pulling a rabbit out of the hat or ever having better days at this rate of decline. Let alone with the same skill set .

How did they monitor what the hell they were doing is what I wonder? What's changed? For the better anyways.

Better heads prevailed, a dream team than a green team, and they could do bugger all too

No matter what CEO comes in, even after so many, they will be the one's driving Nortel into the abyss all right and this role was already hard enough to fill way back, let alone now.

Personally, I think the most serious errors this CEO made was listening to what he was fed by those still at Nortel Owens may have been too naive to see, evident by his abrupt departure perhaps..slandering Gary... who knows with Notell... boasting transparency like its a privilege than right to know... promoting megalomaniac pals may reflect solid loyalty at the expense of accepting their shortcomings, a bad move for for a seemingly honest guy short of the MOT contracts, dunno what the hell he was thinking ... after all they are human, perhaps contrary to popular belief at this point with everyone wanting their pound of flesh

He is no slouch, he works out, thinks on his feet, they'd be hard pressed to get these skills in a Business Development oriented CEO. As a combination, should he accept a lesser role after perhaps not taking kindly to being passed by last time, this might only give them more ammo in a losing battle.

Personally, I'd fire the whole board. They could teach me packets as I automate RDBMS/admin/finance, produce marvels not seen since the Avro Arrow, manufacture quality right here to the envy of Taiwan, sell with the same exuberance as him while trying hard not to de-learn a damn thing stubornly and to everyone's horror. Monitor progress to a compensation that would dramatically alter my quality of life=) This is absurd, I feel like that provocative Rooney guy on 60 minutes now.

Hard to say what goes on at Nortel but the speculation to events is a riot. Unbelievable events. This is not normal. =) Maybe they need an abnormal CEO =),,,wait, he has never been a CEO before, never mind, run with this. I mean. for how much longer anyways... do the math. =)

Yes, but only to pick-up his bi-weekly paycheck.

Mike Z. let so many opptys go by. What good was his tenure at Motorola? Goes to show you his MOT experience was worthless coming over to NT.

Mike Z. will ride unto the sunset with enough stakeholders' money to finance an ostentatious lifestyle in retirement and as well as a handsome estate inheritance for his heirs. No different from the previous CEOs, though.

Informal reponse just after Mike Z's report ot the BoD.

http://www.youtube.com/watch?v=4LU4BBVAVZk

I hope 30000 employees kick his rear out of nortel.

make that 25,000 and tanking

when the boss and employee get hot talking it isn't the boss who does the walking

otherwise Joel wouldn't be working there under employee vote let alone promoted

the wrong specialists at the top, yoo many pay happy chiefs with too many disgruntled Indians makes for disaster

...as the CEO primal screams the employees he wants to fire to work harder

... add contradiction with lack of credibility, and presto... you have Nortel

challenged to make sales for years it survives selling assets and paper than product, and now that is tough to sell too...headed to zero like a clown tripping over its feet directionless... maybe the employees should have more of a say of who directs them =)

blah, blah, blah.

They've got to be pretty worn out, and down, by now. Their collective career outlook has been changing constantly for years - layoffs, yes, this week, or next week, tmw, no, that is, the headcount is to be de-risked by 10%/10 people, whichever comes first - next last quarter, or Thursday. Unless.
That depends on the budget, which is readjusted by 20% 20 times by next week, if not tmw, looking forward. Expand into reduction to consolidate the streamlining of negative growth upward.
Tell the world that 30% less fluorescent bulbs overhead at Nortel means 30% less overhead on Nortel products bought last year by week 30 next quarter so that thoe 30% offset the 20% of 10.

No?

Just check back in tmw; things may have changed by then.

This is a gem: "Expand into reduction to consolidate the streamlining of negative growth upward." No human mind would have the genius to produce it. I am now convinced that you are an escaped mutant Google bot.

Thank you!

I still don't think he should go, Nortel has hand more than it's share of changes at the top. But the BOD needs to watch his a$s very close. Let's fact it, he is responsable for the capital distruciton. He is the man in charge.

Great Job Mike Z, MANKER!!!

Nortelhand - with all due respect, don't you get it? Nothing is going to get better until the board installs competent leadership. Mike Z isn't killing the company on purpose, he's just incapable of running Nortel.

None of you seem to get it.
The board of directors is a crock.
Kind of like those old muppet men you would see up in the balcony during the jim henson days. Drunk, out of their mind or stroking their egos. The Board must go. Then the executives must go, then management must be culled.
Maybe then things might "get better".

The Board must go.
============
re
in case of a normal company or a normal stock the BoD would chose the best solution for an investor.
Not the best solution for an employee or a government of the country, not even the best for any customer /ex BSNL/
I saw customers destroying their suppliers by stupid actions!
They would chose the best interest for the investor!
What BOD of Nortel did?
Let's say 3 years ago Mike Z comes at $30 pps and they have been riding the stock down to Zero! Mike Z and BoD of NT!
There is no way to change the BoD! There is no way for them to chose the best solution for the investor. Investors have tried it, to change them, and failed!
I don't know why?
It's the $400 bill question.
Why BOD of NT rode down the stock from its high of $400 bill market cap to $250 mill?
Why?
I know why.
The answer is simple.
NT stock has been the perfect scam!
that's why I use the short line about
Nortel hates own shareholders!
Isn't that true?
Prove me wrong!
Prove me wrong that NT likes shareholders and does the best to bring value to the stock!
I'm waiting!!!!!!!!!!!!
I've been waiting for 5 years and see all the sings that Coffeee smells good but NT stock stinks!
Happy investing in NT!
to you!

yes4aapl - yet another incoherent rant. Stop it now!

You are not allowed to post here again until you have a post with constructive ideas on what Nortel needs to do to turn things around. Understand?

Isn't that true?
Prove me wrong!
Prove me wrong that NT likes shareholders and does the best to bring value to the stock!
I'm waiting!!!!!!!!!!!!
I've been waiting for 5 years and see all the signs