What to Expect on Monday

And I still think management should be forced to walk the silent if watchful gauntlet at work daily.

The Believers say "We stand, we walk behind you!", whilst the non-Believers would actually do it. - just not the way Mikey envisioned with his "forward-looking" schtick.

If there is one thing I have no time for and will definitely publicize and point it out at every opportunity, face to face, online, or under any other circumstance it is people who blab about how other people "should do this, should do that" questioning someone elses circumstances, situation or character when they themself have none. Kind of like the nagging wife or andy rooney on steroids.
What a joke.

Go on your apatheic ways ...just like the rest of the world did when Adolf was stirring up things in Europe. You are a uneducated momma's boy with no consideration for anyone else than yourself. You are the joke and have no clue what is going on. Don't listen to me...it's a free world...thanks to people like maybe your grandfather that stood up to the injustices.....but you can go ahead and keep your head down....maybe you won't get hit. I guess people have to listen to your crap cause your're always right.....what a joke indeed.

You got bad Karma dude; chill and inhale some of that ‘medicinal cannabis’ (not condoning illegal use); you have a good argument against the temporary and alcohol manufacturers-backed laws (US of course, where else)…--bb

Also, you seem like the creative type so let's do away with the satanic references.

Whatever makes you feel better little boy.
Just break out those placards of protest and get up there on parliament hill. You'll save the world.

There sure are alot of gullible, naive, wishful thinking people posting on here. Really exemplafying the canadian stereotype.

Surprisingly, Z and his GEngsters have found a way to turn even them into non-believers. Now that ain’t easy…--bb

I think that companies under ch11 reorganization should not report profits and losses a per share basis, because existing shares are likely to be irrelevant.
I'd argue that reporting should only be done on a basis of equity if there is any equity left after the creditors are paid. Otherwise if there is a deficit and creditors are expected to recover X cents on the dollar, than the reporting should be done on a basis of how much any profit or loss can potentially affect that number X.
Otherwise the number is completely meaningless.

"So tell me why, I Don't Like Mondays" HAHA! Enjoy the weekend, soon-to-be ex Nortel clones! Better program the GPS in your suv and determine where the unemployment offices are. Just look for the long lines of other nortel losers like yourselves and you can't miss it! hahahahaha..

What kind of person takes pleasure in witnessing other people’s pain? You are deeply disturbed and you should NOT be allowed to post anymore…--bb

Mark, this is NOT cool and not kosher at all. AT ALL!!!!!!

Dim Reaper, you don't like Monday's because that is the day your mamma yells at you to go out and get a job.

Guess I won't be looking for a job at Nortel, eh? You might need to go clean out your old room so you and the family can move back into mommy and daddy's house! Don't forget to take out the trash!!!

Keep voicing your pain GR, it will get better over time. We all feel terrible for you GR.

I sure as hell don't.
I'd brass knuckle his face in a heartbeat.

I bet you haven't ever been in a fight, pussy.

Let's find out?

You are a big talker, punk. Big boy cubicle dweller. I would welcome to lay your fat soft ass out.

Let's meet chicken heart.
What town you in?

why dont you two ex-installer types go get a room?

Of the 880 employees eligible for the KEIP and KERP plans, can anyone from Nortel's CALA office speculate on how their location's staff will fare?

Folks, in other words, who in CALA is key to the region's success thus qualifying for either plan above? Of course, we know that Mr. Barrios is a shoe-in.

Well, I am glad that we are all sufficiently outraged to continue to post comments about Tricky Mickey and his cronies on AAN.

Like many have said in their past posts, the behavior of the executives and the BoD is sick and verging (I'm being generous) on criminal.

But how is this behavior any different to that of execs. in many other companies ?
Government handouts are being used to line the pockets of the people who are the main contributors to the global problems we are now seeing.

The real problem is employee apathy !

In Ottawa, it seemed that Nortel employees were more concerned with the bus strike than Ch. 11.
This wasn't, incidentally, the case with those who were handed their pink-slips.

Most of us have our heads buried in the sand and are content to applaud the empty words of the execs and ignore their kamikaze plans as long we collect our wages at the end of the week. Then when we get laid-off and/or lose our pensions, we're all in a state of shock !

Roll on next Tuesday/Wednesday/Thursday...

So what is your suggestion.
Blanket party the whole lot and throw the reaper in for some extra fun?
Suggestions welcome.

How's this......you and your buddies all call in sick the next few days for starter. Work up from there....

Absolutely - that is the loudest noise you can make. The company talks like employees are golden and acts like they are liabilities. Time for the employees to flex a little muscle.

It doesn't matter that you don't have a union. You are perfectly safe if you do it right, especially in Canada (and better off without union bloodsuckers reaching into your wallet).

Call in sick. "Oh boss, killer migraine, can't function. Going to see doctor."

Go see your Doctor (very important step). Same story, "Bad headache, can't function. Could it be the stress I'm under? I expect to get laid off any day. I feel dizzy, how is my blood pressure?". Now you have a bullet-proof paper trail.

At end of day, email boss "Dr said this ______. "

Nortel employees do not have a union to protect them.
If they start calling in sick and impacting products and or projects that are generating revenue, momentum etc. that just makes no sense at all. Now I could see a manager or a black belt calling in sick. Nobody would miss them.
Yet they are the ones getting rewarded?
On that count things do not make sense.
But the average joe thinking he can make a difference by setting themselves up as a sacrificial lamb is just WRONG.
The blackbelts and managers will just laugh at them while they receive sympathy from their director.

Bravo Chippy, spot on! My sense is you will see the return of unions and their penetration into the corporate world as well. Today's execs are way out of touch and way too self-indulgent. Let’s give Michael Moore the credit for early identification of the ‘absence of management’ with his 1989 film ‘Roger and Me’…--bb
http://www.michaelmoore.com/dogeatdogfilms/rogerme.html

You are bang on Chippy.....employees have nothing to lose so why don't they hold mass demonstrations and put Mikey and the BoD on the firing line in the media. It doesn't take a union to start massive walk out or picketing.....just some BALLS. Employee denial and apathy is making soooo easy for Mikey to do what he wants...without any consequences. Shame his HUGE ego in the media...at least this will be doing something while they wait for their non severance......

Employees still there aer still getting paid, collecting their cheques and being covered for their benefits.
Why should they be so dumb to stop working and lose that.
I would suggest all the naive, honeysuckle alice in wonderlands who've been pouding the pavement to the local law offices hold mass demonstrations.
They are already gone and have nothing to lose.
Think about it.

For how long will they be collecting their checks...days...weeks. Sometimes you have to stand up and do something instead of just sitting back and going along for the ride. Those still there have the power to do something.....but as chippy also said.....have their heads buried in the sand. This should not be an excuse for not doing anything and neither should you support apathy...just collecting your check and forget the bomb over your head...you think about it

So what are you one of those protestor types?
Give me a break.
Woe is me. Where are the sacrificial lambs.
If you want to run out in a front of a bus go ahead.
Nobody is stopping you.
It makes more cents (Since they have no more to lose) for ex employees to do the protesting, placard waving and all that other BS. Stand up and do something?
What?
So they can you faster?
Think about it...again.

what are you...afraid to take a stand for something once in your life? Have you been handed everything and become so spoiled that you'll take the crap from Mike and BoD ...yes please....I'll have some more...thank you sir. Good chance you are going to lose your job anyway, start looking around, get something nailed down...but in the meantime, do whatever you can fight back. Stand up for your rights...thats what. Forget it...your head must hurt...don't think about.....go to lab 2 to Timmys and get another coffee....maybe that will help you..

Are you for real?
I've taken stands my entire life.
If you only knew the half ot it.
You on the other hand strike me as the protesting type who rants at everyone else for not protesting or putting themselves in the line of fire when they have no need to do so. I suggest you learn a litle about life before you start ranting with juvenile statements like above or I might classify you in the reaper realm.
You and others are trying to pump people who are left at Nortel into making the situation worse for them or the company. Probably work for competitor or people with axes to grind. Maybe when they leave or are canned they will join your parade. Maybe?
I stand up with my fists, my feet and my pride.
I'll be honest. Unless something directly affects me or anybody close to me...and I mean real close..I don't give a S**T.
I don't wave placards while some rich executive laughs at me for being a stool
pigeon or worse.

"Unless something directly affects me or anybody close to me...and I mean real close..I don't give a S**T".....beautiful.....thats exactly how the rest of your buddies must think.....what a great world we live in...you must be from Ottawa......If you don't want to get your hands dirty...why don't you at least try to talk to a local union group..maybe you can get some information without putting your neck on the line. BTW...I lived as well. more than you I'm sure so before you start with the name calling, grow some BALLS and use those brain if you got any.....I'm sure you and the geek herd can come up with some smart ways of getting back at the execs while keeping your precious jobs...let's see what you got

That is the world we live in sunshine. You will find that out soon enough. Wake up and smell the reality. Why don't you go F*** yourself for starters you litte boy. How old are you..18?
I want to see you standing on the curb with your protestor placard monday morning. Be there!!

Looks who's the little boy...hey smart ass.....why do you think desktop uses videos of Adolf and his buddies....know anything about history...or you too young for that. read a book and learn something about apathetic people and what it ended up costing everyone...your just a pussy...go back to mommys basement

Reductio ad Hitlerum,

Of course it had to happen.

I am just going to sic my boys on you bunch of pathetic sniffers. The jig is up. You've been exposed for the sham you are..kid.

This is the classic death spiral. There won't be any assets left once the economy hits bottom and Nortel will have to declare chapter 7. I'm pretty sure the executives already know this and are bilking everyone before the day of death arrives.

And that would be precisely why they modified the 2009 bonus program to pay out quarterly rather that annually.

(Go on take the money and run)

That is possible.
We'll know when the restructuring plan hits the streets and we'll know when Nortel decides how they are moving forward with existing lines of business.
Nobody knows right now.

I think as soon as Z presents the plan NT is Chapter 7. Creditors will not go for it and will press for liquidation. Right now the creditor's hands are tied in court. I agree with C_O that Z and the gang are grabbing as much as they can while it is still possible (docket 389).

If only we had proof of ill intentions......

If we cut to the chase, NoTell has progressed to an unprecedented level of lack of non disclosure with this not taking questions. It does not take a rocket scientist to decipher what they do not want to answer and yet want to selectively present as they must move fast to keep customers today.

They said they didn't see the downplayed bankruptcy coming so perhaps less said better is better in light of their endless ongoing contradictions. Who will trust their traditional selective presentation.

They canceled or delayed their shareholder's meeting like delaying the proverbial turn around plan 90 days under insolvency woes.
They do not want to take questions from any analysts that still care or are remaining, or shareholders, they even gag their employees from speaking with the media. Totalitarian axe cutting NoTell at its finest splendor during its darkest hour, no questions please.

What could a company heading into a traditional bankruptcy want to possibly further expose with their catalyzing plight through questions. They can traditionally selectively present what ever they want in their proverbial struggle. Traditionally optimistic to always disappoint or surprise.

They must move fast they said to maintain customers and action can come much sooner . So how fast is it going today never mind Q4, think they will they say?

The numbers will do the talking too and bear in mind these are numbers before claiming bankruptcy not reflected in the catalyzing decline thereafter they must move fast for.

They should ask for a reduction on their new mega $100M lawsuit insurance premiums in light of not taking questions. After all, ask me no questions and I will NoTell you no lies reduces liability =)

Word on the street, not bloody Tuesday but bloody Wednesday, don't go to any meetings you didn't set up...

"The real focus will be on any updates that senior management will provide on the bankruptcy filing, the creation of a new business plan, and the restructuring plan."

It is unrealistic to think that detailed information on a forthcoming Business Plan and Restructuring Plan would be released in this context prior to court and creditor submission. They may talk about milestone dates, but I doubt they will talk about specific content.

What may be interesting is to see if any write-downs have been taken against the Balance Sheet. For instance, Carrier Networks holds about $1.4 Billion of Goodwill on the Balance Sheet. If they write that down to zero, it makes Carrier Networks on equal footing as Enterprise and MEN in terms of Goodwill balance and easier for a sale transaction.

What to expect on Monday.... The calm before bloody Tuesday.

For this round, Layoffs began Thurs and will continue through next week.

yippeee!!

re: the Ottawa Citizen article.... only if you flew into Ottawa and got a rental car would you have noticed this. If you got a map from the rental company it would have all the street names of course, but also a Nortel icon for each building in the greater Ottawa area... no other companines, not even the government buildings were marked and it's the capital. Beside Carling there was once 3-4 more campuses with 3 or more buildings.... and a few stand alone buildings... and let's not forget some 11 buildings in Richardson and about 6 in RTP.....

Note that Nortel has filed a motion to give $45m in KEIP to employees including 5 senior leadership people (Mike's direct report flunkies), 48 ELT (exec flunkies not reporting to MIke), and others totaling 92 executives. The KEIP will cover 880 people in total THATS $51,000 PER PERSON AVERAGE, WITH THE SENIOR EXECS PROBABLY GETTING 2-5x THE AVERAGE!!!! This is to keep them so they can keep screwing up the company and to make sure they won't leave. Who is hiring executives in this economy? Who would hire a current exec from Nortel? Wouldn't the company be better off without them!!!! Don't believe me? Check out Docket 389 on the Epiq systems website for Nortel's public filing!

Thanks for the good research!

Reading through this document right now... can't believe the level of corruption taking place within the confines of the legal system. Its amazing to see how they continue to shamelessly profit off the bankruptcy of the very company they've driven into the ground.

I paraphrase from docket 389:

"The KEIP will cover approximately 92 senior executives of Nortel...
...
Executives participating in the KEIP would be eligible to receive an incentive award equivalent to a percentage of their annual base salaries (ranging from an average award size of 20% to 183% of their annual base salary...)
...
Nortel estimates that the aggregate potential payout under the KEIP will be approximately $23 million."

Please read the FULL document, don't trust what I say!

More info:

The 92 senior executives are made up of 8 members of the Senior Leadership Team (SLT) and 82 members of the Executive Leadership Team (ELT) and 2 other officers.

KEIP bonus ranges for SLT are 100%-183% of annual base salary, while the range for ELT is 48%-112%.

I take this to mean that any senior executive leader involved in KEIP would automatically get a KEIP bonus of at least 100% of their base annual salary! Considering these people already make the most money at Nortel, it is clear like felixmk said, KEIP will be heavily concentrated within the senior executive team!

Hey man, this is the west.
The rich get richer and the poor get poorer.

This is insanity. How can this possibly be approved by the courts? They are proposing to give the Senior Leadership Team 100-183% of their annual salary as a bonus??

Please don't tell me Hackney's up for a million dollar bonus when Nortel is laying people off with no notice and no severance. This has got to stop.

Yep, that's exactly what's gonna happen. Joel Hackney - light bulb man, woman-beater, employee-intimidator, clueless enterprise laughing-stock - is going to get more than a year's salary as a bonus to keep driving Nortel into the ground.

HOW DOES THAT MAKE EVERYONE FEEL?

"HOW DOES THAT MAKE EVERYONE FEEL?"

If you really want the truth, it makes me want to blow chunks!

I think joel should be promoted to king of Siam.

Sorry, correction: They would not be automatically getting the KEIP bonus, but only "eligible" for it. Mistake on my part.

Yeah, but that means those eligible are probably guaranteed at least 50% of it, the average person will get 90% of it, and the GEniuses will get all of it and more.

A bit like the 'fair trial before your execution joke'. Yes they have cooked up some 'preconditions' before they receive it. Perhaps not 'automatic' but absolutely certain.

Looks like the KEIP and KERP are intended for executives and JCIs 4 - 6 only...Like always, the poor JCI 1 - 3 souls have been conveniently left behind....Way to go....

Of course they pay the ones who don't do anything.
Usual business at Nortel.
They pay the black belts, the sick sigma suck, the overpaid managers, the execs, the ones who give out orders but have no idea how things really work and think it means something to have a plaque on your wall (discounting patent holders and scientists here). The ones who do the real work get screwed.
As long as this happens Nortel will continue its death spiral.
I heard a rumour that gyms across Nortel Campuses may be closing? Keep paying the blackbelts and JCI4 plus, but screw the employee who actually maintains, designs, supports, and innovates with nortel product and the installed base. Don't even let them take their frustrations and stress out in a gym.
What a pile of S**T.

Once again the ELT/SLTs have signaled what their priorities are, and its not exactly the business. They are taking care of themselves first and making sure they can rob this company of every dollar they can get out of it before the Chapter 7 filings. So they filed for KEIP and KERP, which throws a bone to a few lower level minions, none of which is performance based. The ones that do the real work and may be eligible for AIP, of course all that is performance based. So if our beloved (cough, cough, gasp) leadership can't figure out how to steer the Nortanic, we still will get nothing. But they have taken care of themselves, so all is right in their world, come what may.

My point is not to complain about what I may or may not get as far as AIP is concerned (I've never thought I was "entitled" to anything more than my paycheck) but that continued arrogance of corporate America where those in charge feel they are just so darned "valuable" in spite of their overall stupidity is just astounding. Nortel's "leadership" is certainly no exception here.

You got that right.

Also one of the footnotes, it gives the KEIP percentages for JCI 4 and up plus an additional 200 jobs to be moved to lower cost centers.

please post url

http://chapter11.epiqsystems.com/docket/docketlist.aspx?pk=48f43852-fa84-4f30-8fb3-4f605af7c8d0

Click on images and read through the different docs, most covered in main Doc

In that report in the Ottawa Citizen, the most hurt words to me: "The once-bustling hub of Nortel's research campus on Moodie Drive is rapidly becoming a ghost town and there are probably more cuts to come."

How could these be?

In that report in the Ottawa Citizen, the most hurt words to me: "The once-bustling hub of Nortel's research campus on Moodie Drive is rapidly becoming a ghost town and there are probably more cuts to come."

How could these be?
====
re
The buildings have been sold to Gov. agencies!

Biggest bunch of millionaire cowards you will ever see.

you mean "COWARDS!!!!!!"..--bb