Is the End Near?

By Mark Evans | Published: April 29, 2009

According to the Ottawa Citizen’s James Bagnall, who has covered Nortel for many years, the company’s 114-year history may be coming to an end sooner than later.

Citing sources, Nortel could announce the sale of its enterprise business in the next few days, while its optical business may be sold within the next five weeks.

What’s particularly stunning is Bagnall citing sources who suggest that “members of the company’s board have been surprised by the sheer, brutal complexity of the bankruptcy process”.

This is yet another example of the disappointing performance of Nortel’s board over the past few years – something that deserves as much scrutiny as the performance of senior executives.

If/when Nortel ceases to exist, it will be fascinating to learn more about what the board didn’t do or didn’t know, and how this contributed to Nortel’s demise.

Among the board’s biggest mistakes was the decision to support ex-CEO Bill Owens rather than follow the strategic advice offered by COO Gary Daichendt and Gary Kunis. The fact the board backed someone with little telecom experience rather than trust the guidance offered by two seasoned executives, who cut their teeth at Cisco, was a disaster.

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  • ntdeadz

    If they annouce @ 10:30 AM EST today the deal with Entreprise you should celebrate…. the “torture“ is over and new life will start !!!
    BELEIVE me there is great life after Nortel…

  • less

    Centers of Excellence

    Nortel had more than 9 of them

  • NTblinker

    to be sure; next june, june 2010? or 2009?

  • longbow72

    I guess it is June 2010 … because of great French labor union.

  • broadbandbill

    Just like his former boss…–bb

  • WootWoot

    Peace :-)

  • Montrealer

    Instead of selling-off the company or giving my tax dollars to bailout a poorly managed giant and give more bonuses to the execs, I would of liked to see a new company emerge that would buy the best of Nortel's assets, replace top management, and build a task force of top engineers, sales and marketing people to give it a new direction, and streamline the product line.

  • broadbandbill

    peace, indeed…–bb

  • NTblinker

    It is CoE, but to me, it should be c0e(Z=0)

  • yes4aapl

    By James Bagnall, The Ottawa CitizenApril 8, 2009

    OTTAWA-Senior mandarins in Ottawa have seen a lot of corporate lobbying over the years, but nothing quite as odd as the campaign conducted last autumn by Nortel Networks.

    Canada’s legendary high-tech company sought a cash cushion to help it cope with a collapse in the market for telecommunications equipment.

    In sharp contrast with a similar push by the country’s automakers — who landed billions of dollars’ worth of temporary assistance — Nortel received only $30 million in short-term financing from Export Development Canada.

    Nortel’s lobbying should have been much more effective. By the standards of the global credit crisis, Nortel’s opening request — $1 billion plus — was relatively modest. Not only that, the government seemed pre-disposed to help out what remains one of the country’s most prominent flag carriers.
    =============
    scalpcutter was taking part in that discussion
    http://www.allaboutnortel.com/2009/04/08/nortel…

    btw thank you rfc1149

  • yes4aapl

    By James Bagnall, The Ottawa CitizenApril 8, 2009

    OTTAWA-Senior mandarins in Ottawa have seen a lot of corporate lobbying over the years, but nothing quite as odd as the campaign conducted last autumn by Nortel Networks.

    Canada’s legendary high-tech company sought a cash cushion to help it cope with a collapse in the market for telecommunications equipment.

    In sharp contrast with a similar push by the country’s automakers — who landed billions of dollars’ worth of temporary assistance — Nortel received only $30 million in short-term financing from Export Development Canada.

    Nortel’s lobbying should have been much more effective. By the standards of the global credit crisis, Nortel’s opening request — $1 billion plus — was relatively modest. Not only that, the government seemed pre-disposed to help out what remains one of the country’s most prominent flag carriers.
    =============
    scalpcutter was taking part in that discussion
    http://www.allaboutnortel.com/2009/04/08/nortel…

    btw thank you rfc1149

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