Nortel Bankruptcy Hurts Laptop Program

okay maybe i misunderstood…but to be fair you did say that this was an “old boys club” with “group think” not that i disagree with you, i don't…

Don't knock people that come to the US seeking a better life, scalpcutter. Many would do the same thing facing the same situation. I know I would do whatever I could to help my family and improve their lives.

And don't think there's a “process” to follow to immigrate to the US. The foreign countries charge $100 per application only to reject thousands daily – a great source of revenue for the government.

Where have you been? I was waiting for something from you.

Maybe bored is the wrong word. I'm pissed. When I was in the company there was no news, and now that I'm out, there is still no news. I'm not upset that I no longer work there. I had a plan, but I'm pissed that nobody really knows anything. I'm pissed that there is a small group of people who do, and they are controlling the destiny of so many others.

Look at what is happening in Canada. Ex-employees are fighting amongst themselves over representation. It's nasty. People who used to get along, work well together, are now fighting, some of them for their lives, amongst eachother. UGLY. Pisses me off.

I will tell you what I'm interested in. I'm interested in understanding why SO MANY EMPLOYEES didn't see what was happening at Nortel. I started chewing my nails in 2004, and kept on chewing them up until today. It was so *&#(*U obvious what was happening and I tried so hard to get my views across. I found like minded people and we tried our best to make the right change. But the “yes” folks were everywhere. EVERYWHERE. I could NOT believe how naive everyone was being.

Why didn't the majority of employees see what was happening? Why did they buy into it all, when it was so obvious what was happening?

Why didn't I leave, you might ask? Because I was crazy about Nortel. LOVED the company. First job. Now I have moved on into something completely different but it was a slow, arduous transition. I didn't want to give up on what I thought was worth saving.

Now the company is screwed because Z didn't get it. And his ego kept blocking his vision.

This CEO has been fooled on the decline having met his asymptote. His inspirations are unrepentantly following highly questionable actions.

Many employees, shareholders, creditors, etc. and even Premier McGuinty are disappointed with Nortel's policies and practices with every reason to be angry.

The fat cats and pals at the top have resiliently strategized under enormous legal and political power financed by their employees hard work to manage selling below cost, print paper, sell assets, entrusted under the protection of safe harbor and benefit of the doubt to pay themselves exorbitantly another day. Ultimatums, slander, contradictions, the best of all worlds, lovely…

The top cats escape unscathed with their poor results but not the stellar hard working good employees who are rewarded with suffering instead. At everyone's expense by far too long but theirs. Now even customers are disappointed and as usual contrary to what they claim.

We all wish it were different, everyone is angry and hurt, many will never recover, and it wasn't due to market conditions but endless other questionable factors.

I think there is a higher power in justice and patience is a virtue. I hope Nortel hasn't inhibited initiative outside this tyrant of a company amid all the damage they have done. I hope current employees all strike for severance and pensions to set a precedent and teach management what they can't do.

Many good people worked for this very bad company. This is not a normal company with stellar scientists and engineers joining its ranks in disappointment as the far from destitute pigs at the trough remain bonus happy right into bankruptcy and their final hour while telling employees to stand in line with unsecured creditors they screw too.

Such an enormous waste of energies and resources so many fell trap to, everyone. Maybe grounding the private jet pissed them off like when the RCMP laid fraud charges to them firing so many more immediately thereafter =)

At least the last board plea bargained before the company they timely left could pay shareholders something but they even tanked ultimatum with revisions to claim mark-to-market profits… it is a laughing stock of shear corruption and tyranny with the robber barons paying for the power at play with other people's money. They even kept the fraud bonuses, all legally, with enormous legal power and political contacts. They even got bonuses approved without creditors blessing after folding.

So many lives ruined except those who collected lotteries on the way out, like looting the corpse today into the final lap. There is always tomorrow when Nortel with thankfully no longer be to ruin no more.

I also further question with fanatic bias borderlining profoundly absurd whether any underlying unethical conduct is to blame that we remain unaware of given the endless revisions with even their pals at the SEC having to monitor them years later. I question the OSC and EDC's actions, all powers that supported them.

Today airbusgates re-arise in the news with an ex-PM who sued Canada to filing tax late after the adgate scandal saw a change in government flip flop / albeit Harper is the only one OK and so was Dion as I question most who seek power. Tell me there aren't that many crooks out there. I laugh when I hear the oxymoron even a good people would be tempted. No they wouldn't.

Enron also hurt a lot of people as did so many others tyrants who lied about their achievements and future with intent.

Nortel was huge, like the collapse of a small third world country killing so many with a crazed dictator at the helm.

You have every reason to be angry or even furious. Unfortunately lawyers and business people driven to these roles aren't as passionate about humanity as people in medicine. Maybe education remains key to fighting crime.

Nortel is dying; there is no way to put a really positive spin on it, at least from the naive “I believe” point of view (are there really any IBIN’s left?). The funeral is not long coming now. I think we are headed for a relatively quick sale of the major assets, and then on to Ch 7 and corporate death. This is what is best for the creditors, ex-employees, and pensioners (all creditors actually). However, new opportunities for many will arise from the ashes of Nortel’s cremation; some people will get good jobs with the acquiring companies and others will find new and exciting opportunities elsewhere.

Creditors will not get all they are owed but they will get more than pennies on the dollar, and I hope that the ex-employees and pensioners get some preferential treatment. There will be hardships or at least lifestyle adjustments for many people let go during this difficult economic period. Some people will decide to move out of state, province or even country – this will be very hard on them and/or their family and friends, but eventually people will adapt to the new situations and get back to focusing on the pleasures of life.

I think that ex-employees should get together to create a monument to Nortel at the Carling Campus, maybe even a small museum. It really was something special and it is worth preserving some mementos of the good, the bad, and the ugly for future generations to reflect on.

Nortel
R.I.P.
1895-2009
Cause of death: Cause of death: Executive Greed and incompetence.

Hang in there. Your true thoughts are something that can not be measured or compared in that way.

Hi there,

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Let me know if you’re interested.

Thanks..