Nortel Directors Get a Raise. Huh?

By Mark Evans | Published: August 19, 2009

So, let me get this straight about Nortel’s directors: After overseeing the demise of Canada’s flagship high-tech company, they’re getting a raise?

According to the 19th Monitor’s Report, the three remaining directors – Jalynn Bennett and John MacNaughton – have been given a raise to $225,000/year from $125,000 (cash, not stock), while David Richardson, who is chairman of the board, will get a raise to $325,000.

The obvious question is why the need to give Nortel’s directors more money at a time when the company’s assets are being sold off to the highest bidder?


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  • Moose_Chaser

    Oh, please !

    Climb down off your pulpit !

    MC

  • uman

    I wouldn't want anyone committing suicide over Nortel. I will settle for public flogging in front of the parliament for the board and the key executives!

  • telecom93

    Sorry folks! Call me olde fashioned, but I don't “blend” my work and personal time. I have my priorities straight, and my epitaph will never read “If I had only spent more time at work!” But perhaps for some people, their priority is the corporation for which they work. Blending personal and work time and 80 hour work weeks is a sure prescription for stress, divorce, and an early grave.

  • smathies10

    Public flogging is too good for the Nortel exec, How else can they account for the total districion of shareholder captial, However the board must carry a lot of the blame, What do you expect when they hired a telephone man used to pushing a failed business model.

    Anti Zman

  • smathies10

    Just proves that rats still leave a sinking ship first, Captain Edward John Smith was at least far more honourable. The Z Man stole the last life boat and gold plated the oars, leaving the crew (AKA Staff) to go down with the ship.

    The carcass of Nortel will be routinily examined by business schools in the years to came. Selling the Carcass to Avaya just means the management still think nortel is a telephone company even in death.

  • scalppeeler

    Who says divorce is a bad thing.

  • ExNtrl

    How about tar and feathers? or and L on their forehead for Loser?

  • Dman22

    You, and all those that hide behind anonymity, should take a look at the following:

    http://michaelfertik.com/news/legal-impact-of-t…

    But then again, the real meaning probably escapes you.

  • GoProto

    I get your point, but I don't see anything remotely like what this person did happening on this site. Tempers may flare but no one is out for character assasination. That's what “I believe”. :o }

  • maxrider

    What the hell they are all crooks anyway, lol

  • ltd_sleeper

    If it is anything like when I worked there, he/she is spending 20 minutes a day surfing or playing a game or whatever just to take a breather from the business. But to even it out they probably do 4 hours of free overtime so get off your pulpit.

  • Musicvideos1

    yes its surprising me what the need of giving more money to Nortel’s directors. when the company situation is so. Indie

  • Musicvideos1

    yes its surprising me what the need of giving more money to Nortel’s directors. when the company situation is so. Indie

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