This shouldn’t come as a surprise to anyone but Nortel claimed the title as the S&P/TSX’s worst performer in 2008 with a 97.86% decline. That allowed it edge out Oilexco Inc., which fell 97.84%.
Nov 14 2005, the day before Mike Z took over as the CEO, Nortel shares closed at 3.63$ on the TSX. Now they are valued at 3.2 cents(taking in account the 10 for 1 consolidation that did occur in DEC 2006).Last year Mike Z and many of his lieutenants did get a a pay raise close to 20 %. This year ?
Dubious Win for Nortel
This shouldn’t come as a surprise to anyone but Nortel claimed the title as the S&P/TSX’s worst performer in 2008 with a 97.86% decline. That allowed it edge out Oilexco Inc., which fell 97.84%.
Here’s a couple of charts as food for thought:
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