Mike Z. Wants His Dough

Mike Zafirovski's house 1291 N Green Bay Rd , Lake Forest IL
In case you want to send him a Christmas card ..or whatever

In the days of the old west, they would have shown him the end of a rope for his behavior. He should vaporize into oblivion and not get a single penny. Thousands have lost millions due to him and his incompetent cronies. And they keep thinking they deserve more. These guys are so incompetent they can't even figure out they screwed it all up. Great job Z and company! Bunch of morons....should be thrown in prison with Madoff and the rest of the criminals.

Hilarious, isn't it? The gall of guys like Z and Owens, wanting millions in "pensions" for a few years of work (less for O), where their results were about as bad as could be imagined.
For Mike Z, they should counter-claim back the $9 million or so that he took from Motorola to NOT work for any competitor - when he broke his word (so easily) and went to Nortel - where the stupid inept board kindly paid it all back to him, plus "sign on bonus" (whatever that is - but remember the spin, this was all "quite normal" for recruiting CEO's they claimed).

Z is just putting in an ambit incredibly high claim, so the pennies to the dollar he might get at the end of all this add up higher. I just hope Karma really does exist, and hits him full on here... end of the queue until all pensioners and employees get covered first I say.

This guys the great Z should be the last person to receive any penny, if anything at all from Nortel. He and his pals were the driving forces which drove Nortel future off the cliff, into oblivious. Thousands of Pensioneers and Long term disabled ex-Nortel employees and many times more countless faces futues is in the balance.

Now, this boneheads is trying to lick the last drop of blood of Nortel employees???
I do not think so for one, and again I am not the Bankruptcy Judge here. After all the judge okayed for the executes bonus plan.

These CEO's are paid like superstars. At least a star in sports, music or the film industry brings people to stadiums, music stores, arenas or theaters. They bring dollars to the bank for there employers. What does Roth, Dunn, Owens and Mr Z. did bring back to the shareholders( their employers) ?

Except for Roth who was lucky enough to be in place during the tech bubble but then disappeared as quick as he could after the meltdown, the other 3 did cost much more then they did bring to the mill !

Sadly this only goes to prove that the old adage is still correct

There is no honour amongst thieves!!!

I would encourage everybody to send the fu***n gipsy a postcard with the wishes below. His address is a public knowledge and can be found at the following link. http://chap11.epiqsystems.com/claimpdf/da6bebf7...

What about all the awesome Nortel phones on desks that will no longer be there? Not only is this moron the one who is screwing people over with money, he is causing a major upset for not only large institutions such as universities that invested in Nortel products, but small ma and pa businesses that invested in Nortel equipment!

Not a surprise at all....

Nortel hasnt been a company for at least 10 yrs.

All the "leaders" are in it for themselves. Z is gone but still bunch of "leaders" remaining trying to milk the system as much as they can.

Corporate corruption at it's best. But that's the bad side of capitalism....There is no one owner to watch out for Nortel...the justice system is useless and Judge Gross is probably incompetent..

as a woman all i can say..size does matter and this clown has the tiniest penis !... come on people hurt him where it really matters! lol

Mike Z can go an F*&K himself and his croneys as well.
These pieces of S(@T screwed good people and left them with nothing.
Now they have the hide to put their hand out (without conscience) for a payout.
You only get bonuses for good performance.....have a good long hard look at yourselves in the mirror and ask yourself if this is moral and right...
.....was your performance really that good? If f^#king over good people and kicking them in the ass on the way out door is moral and right....then the people you F^#Ked over should be the judge, jury and executioners on this.....not the courts.....you scumbags......

Actually Mike Z can't go F*^K himself.......he ain't that smart.

MikeZ was a loser while at Nortel and all remaining VP's fall into the same line... he was a jackass while @ Nortel (happy i am no longer work there at NO-TEL

The scam continues. As if getting KEIP wasn't enough, the same criminals who contributed to Nortel's downfall are now attempting to loot the corpse even more, searching for every penny their money grubbing hands can find. Something has to be done to prevent these sorts of people from profiting off of their misdeeds while others suffer from the very same actions.

It is true that greed knows no bounds.

This post is for TongueInCheek:

Ottawa Citizen is writing in English, not other language that you could not read.
Here the phrase cited from that article:

http://www.ottawacitizen.com/life/Zafirovski+se...

"Also putting in claims are several people still on the payroll, including Peter MacKinnon and Joel Hackney. Numerous other executives filed claims earlier for millions of dollars."

So, from here, what you mean by "There is no mention of Hackney in the Ottawa Citizen article"? does you completely post false information or I?

OK, so I made a mistake on the comment regarding mention of Hackney in the article. However, your comment of:

"Even Joel Hackney filed claims against Nortel for millions of dollars according to Ottawa Citizen:"

is clearly false given the actual court filings. Hackney DID NOT file claims for millions of dollars.

OK, so I made a mistake on the comment regarding mention of Hackney in the article
---------------------------------
That's a pretty blatant mistake. i mean, there was no inference or nuance to be deciphered.. Did you just not read the entire thing? Doesn't seem like you TiC.

Lets wait until after he's - hopefully - fired from Nortel and see what he does, like, put the Nortel-issue pens he used back in Nortel's file cabinet... after refilling them with fresh ink.

Less, what do you think this Ex-GEnius will do with all the Fluorescent Light bulbs that are left? Remove them and sell them on eBay??

But only after checking each bulbs' compliance to the highest Lean Six / GE manufacturing standards, all of which most wonderfully pioneered and enhanced under the guidance of the People's esteemed Leader and Mentor, Mike Z.

Also, coming from Nortel offices they use 30% less energy.

"Also, coming from Nortel offices they use 30% less energy."
---------------------------------------
To be in compliance with the Managements , Execs, and BoD 30% Brain Power

dim watt bulbs....

Perfect !! I was just waiting for that one Less..
As usual, you did not disappoint ! ;o)

TongueInCheek again displays his arrogant discrediting tactics. After turning a blind eye to the many misdeeds done by management he attempts to nitpick minor mistakes by anyone who disagrees with him in an attempt to write off any valid points they have made.

This is how he turns a story about the corruption of Z demanding money from the company he destroyed into one about people posting "false information."

Except this time he fails to come up with even a somewhat believable diversionary story. Good catch.

"OK, so I made a mistake on the comment regarding mention of Hackney in the article" -TIC

"OK, so I made a mistake on the comment regarding that no Ch11 filing was imminent"- Mike Z

"OK so I made a mistake lying on my qualifications that I am a successful CEO and can turn around Nortel in 3 years" - Mike Z

"Ok , so I made a mistake claiming I was a GEnius, and when Motorola found out, they passed me over.. sniffle, sniffle : > {
But Luckily, there's always another sucka' around the corner.. Here I come to Save The Day !! "

~ Mike Z. , Day One, Nortel Hdqtrs.

"OK, so I made a mistake saying that I would reveal a re-structuring Plan in a couple of weeks" - Mike Z

"OK, so I was off by some $3 billion" - Mike Z

"OK,so I admit I'm a jacka Z"



yours untruly

Mike Z

"Ok, so Joel assaulted a young woman in the parking lot. We still stand behind him, and it's no problem whatsoever"- Mike Z

Leo GetZ speaks:

http://www.youtube.com/watch?v=oy5TJ0s2HJs

Ok, so, one of my all time favorite movie scenes..

: > )))))

Theres also a vid that fits the headline

"Mike Z. Wants His Dough" to a - well... Z...

http://www.youtube.com/watch?v=khSIYmTzt6U

Would you expect him to be different, TIC aka Bo Gowan is the Nortel's propaganda chief. He and the other morons have a vested interest in Nortel's outside perception so they can together finish raping the company.

Ever notice how Mike Z. Looks like a Warlock?? Put some leather boots, straw-hat, and a broom on that Ugly Mug and watch him fly @ like the Blair Witch.

Warlocks do magic don't they???????
Your right, this clown made a whole company and all it's people vanish without a trace......

Imagine Mike getting in car wreck, the ambulance arriving only after a $11 mio bank transfer, the medic sauntering around with a swagger of competence, spewing a bunch of arcane medical terms, emptying Mike's pockets of loot, telling him its to relieve pressure, that no coma was imminent, lastly giving him some used duct tape and encouraging him to step up and help fix himself.

Fade out the ambulance leaving the scene of the accident to save gas and Canada's ozone layer. Mike will get billed separately for that gas, of course.

CEO is the greatest job on earth !
You get top salary graciously offered by boards who consist of buddies( ex-CEO's, etc) and a contract which includes such rules that even though you screw up totally, you will still get access to severance, bonuses and life pension in order of millions of $. Yep, I guest this is a good picture of what was meant when corporations talk about a win win situation !!

Yes, this scenario is certainly not specific to Nortel. They just take it, as well as other Corporate mis-deeds to the extreme. At least now, in the US the social culture is changing somewhat when it comes to the top dog companies, i.e. AIG, CitiGroup, etc. Their Board members and CEO's that screwed up are being pushed out the door because they don't want the bad publicity, and want to show that failures even at the top won't be tolerated. They can still try and succeed somewhat in their Fat Cat endeavors, but now people take notice and they get publicly slammed for these actions..

nevertheless they still made the big bucks with tons of compensation to go.

this is US Capitalism at its very best.

less than a thief and a scoundrel with no conscious. guess he figures his bankrupt resume is worthless and is trying to pick what little flesh is left on the Nortel Carcass.

He deserves what all the other employees got NOTHING!

Now it should be clear why people "go postal" -- job loss, pension loss, health care loss, pride tarnished (don't let Mike Z take away your pride).

Then, for this liar and thief to come back for MORE $$$$, after all the wealth and opportunity he's ruined.

Mize Z did not create anything (other than hype) - zero innovation, zero creation of jobs, zero value, zero products, zero services - his trail is one of devastation. Satan is proud of Mike Z and I hope that he burns in hell for the pain and suffering he's wrought on employees, shareholders, pensioners and suppliers.

Mike Z has no shame, no repentance, no soul - enjoy your mansion and wealth now, because your eternity Mike Z will likely be very different.

Hey, Mike, F*%k you!

I was willing to let you go as an incompetent moron, but your true colors certainly are showing through now. Integrity my a$$! Burn in Hell!

And take the Hacker with you! You two f*%kers deserve each other!

Can the fine print get him.

Penalty to file false claim 500Kor 5 years imprisonment or both.

A system that rewards failure is CORRUPTED

THE FORMER EMPLOYEES AND CURRENT EMPLOYEES SHOULD PETITION THE US & CANADA BANKRUPTCY COURT JUDGES NOT TO ALLOW THIS
CLAIMS!!!
BUT THEN AGAIN, THOSE JUDGES MAY ALLOW IT??? IT IS UP TO THE
BANCRUPTCY JUDGES, THROUGH THE MONITOR E& Y, THAT THIS CLAIMS
WILL AND WILL HAPPEN!!!
Will the MONITOR allow my objections to this claim by MZ? We are not probably
allowed to communicate our DISGUST about this CCAA proceedings
with the MONITOR, as individuals????
LAWYERS! LAWYERS! LAWYERS! LAW-YERS! Just where is the LAW
being served here with regards to former employees & retirees!!! also pensioners!!!
WTF!
IT IS FUN TO SCREW OTHER PEOPLE! ISN'T IT?

Mike Z's problem is he doesn't know what he doesn't know, he genuinely believes he did all of the right things. He lived in an insulated bubble and was fed falsehoods and bought in to the pretty pictures that his executives painted for him. He really never knew the reality of the whole situation, and therefore Nortel continued to live in a Rob Peter to pay Paul scenario, while making stupid Black Belt driven decisions. The economic downturn forced their hand, the Black Belt crap actually made a lot of things worse, the virus was deeply embedded at the middle management layer towards the top, Nortel never stood a chance with these people in the executive layer. Mike Z. should have to abide by the same departure benefits as all those that were forced out under his leadership............get nothing!

The scary thing is Avaya and the other companies are probably going keep the same poison in play once they take over, hopefully they'll figure it out soon and get rid of the real problems which are just a bunch of Power Point pushers.

You canuckies should have baseball batted the SOB at the hearings, when you had the chance.

most canucks dont have teeth or bite. pat them and they will be happy. kick them and they can only whine. then they come back for another patting.

thars how all these no good CEOs were tolerated and a$$ kissed. they practically worshipped the ground these people walked on with water cooler gloom and doom gossip.

"most canucks dont have teeth or bite. pat them and they will be happy. kick them and they can only whine. then they come back for another patting."
-------------------------
Sounds like the temperment of a Golden Retriever..

exactly but the size of a chihuahua in the global environment.

did you see the bullishness out of china to buy out Volvo and Hummer.

canucks don't have the guts to prop up their economy like that. they can only hope uncle sam keeps propping them up.

LOL. Yes, Canada can look to the U.S. for business lessons. Lesson #1: Don't do business like the cross-eyed Americans who flushed their economy down the drain and then begged their Government for bailouts. You have mad business skillz. Ha. You have nothing to teach anyone in business.

They were smart enough to get the bailouts. How many of you dumb canucks could get a dime to save nortel?

Tech investments in the US are still at a decent level. Canada gets nothing. How many startups do you have sprouting up in Canada? All you have are jobs flipping burgers, walmart, construction and mechanics. Nice job addition but the low end at minimum wage.

I am bullish on China and India the way they are going after business. US will still survive. Canada will not. This time you will not even have the natural resources to protect you because everything is being bought out part and parcel.

Even Joel Hackney filed claims against Nortel for millions of dollars according to Ottawa Citizen:

http://www.ottawacitizen.com/life/Zafirovski+se...

It is a kind of ugly picture now: a cluster of crows hovering above Nortel dead body to find a meal.

You said - "Even Joel Hackney filed claims against Nortel for millions of dollars according to Ottawa Citizen:"

Sorry, your statement is completely false. There is no mention of Hackney in the Ottawa Citizen article and his claim in the courts is for $55,388.55 for 401K investment issues.

I don`t care if anyone wants to bash Nortel executives, but there is no reason to post totally false information.

One mans 401k issue is anothers 2 years' pre-tax income.....

How strange that the one who accuses others of posting false information is himself the most prolific poster of false information.

Well, he has to. He's the Gebbels of Nortel.
Heil Zafirovski.

Ottawa Citizen is writing in English, not other language that you could not read.
Here the phrase cited from that article:

"Also putting in claims are several people still on the payroll, including Peter MacKinnon and Joel Hackney. Numerous other executives filed claims earlier for millions of dollars."

So, from here, what you mean by "There is no mention of Hackney in the Ottawa Citizen article"? does you completely post false information or I?

So, do you think, he (or maybe it's you) has the right to claim the money. As an investor I lost way more and can not get a penny back. Also, unlike Hackney and Zafirovski, I didn’t contribute to Nortel's downfall. Have a bit of decency and don't bag for pennies when you've made millions for a zero contribution.

can you do that when you are still an employee? I thought not. But if you can, why would all employees currently working at Nortel not be able to do the same for severances, pensions.

I have an idea. Infuriating as it is.

Give the Z man his 12.2 million. But they will all be photocopied 1000 dollar bills. The money would be as real as his turnaround plan, better operating margins and all the other Z-crap for Nortel.

Dear Mike Z,

Go f#$% yourself.

Mike Z, you must try the General Tao chicken.

Mike Z: lick my rim.

MC

But what about the good news? ;>)

<<The threat of a $3-billion U.S. tax claim that would have derailed the Nortel bankruptcy sale and shouldered aside other claims appears to have eased. Nortel and the Internal Revenue Service said they reached agreement on some issues and postponed a trial set for Oct. 13.

Nortel acknowledged that it owes $9.8 million in tax and interest under a U.S. alternative minimum tax law.>>

[http://www.ottawacitizen.com/life/Zafirovski+seeks+millions+payouts+from+Nortel/2083552/story.html]

from 3 billion to 10 million is definitely good news. though it is at least that amount.... 3 billion satisfies the at least 9.8 million rule LOL

Well, reading this article gives me an idea of who are those human jackals and vultures that are trying to get a bite($millions) of dead Nortel.

Well, the 3Billion would have never happened but ya have to give it to the IRS they guarenteed themselves a piece of the carcus. Without going to court Nortel WILL pay them. As much as I dislike the IRS I would rather them have the money than Z, his so called leader or the lawyers.

I do rank Z and all these big shot managers(Spradley etc) in the same clan as the IRS. They are all filing claims even though highly paid during their time at Nortel, to do a job in which they failed. If there was a justice they would be in back of the line and get what ever is left from the proceed(probably 0) after the severed employees(except directors) and pensioners get what Nortel owes them.

Something I dont understand here.
This reads as though Mike Z was forced out by the board, and therefore feels he is owed salary for time he didnt' work.

I thought he said that he though that it was time to leave. i.e. he resigned.

This makes it seem like the board asked him to go, which wouldn't suprise me.

the BOD resigned right after so it was pretty much a decision to end his contract.

who knows. who cares.

The Z man is morally bankrupt. Even if he was to get 1 cent in the dollar the payout would be substanially larger then any statutary entitlement given here in socialist "europe". Petition the judge to reject the claim!

Such a bitch.

Thanks god I have left Nortel now in ZTE.

The COE is responsible for more outages these days. They need to get rid of the cheap labor and get the good people back in those positions.

Unreal, first he drives the company into the ground, then he demands his money. Where is my Money? I hope he goes to jail for this.

I hope he dies soon.

Amazing how big of an ego this guy has...If I was him, I will be in process of moving back to the Macedonia to keep a low profile.

I am wondering if nortel employees can file a civil lawsuit against this fellow for all the rubbish he had pubished in his zmails to keep the troops going. I believe he flat out lied in Dec 08 to the all the employees when he said that we had no plans to file bankruptcy.

my 2 cents...

i'll take two cents...

I say we offer Z $12.2M in stock options with a 5 year vesting plan.

Not to worry as Mike will rot in hell. I am sure of this as only those who repent and have a transformed heart will make it into heaven.

When read this article this morning, I was angry to say the least. How can such fool asks for 12 Million dollars, he doesn't even deserve 12 cents. He made the company go into bankruptcy. Actually, distinction it will be.

He claimed he had done everything to save the company, in fact, what did he do? Six Sigma which wasted million dollars, was it the best he can do?
Outsourcing to cheap area, they called them intelligent centers, but in fact they are far from that. Not totally blaming the person there, it was poor management which causing them not good enough. Result is only frustrating customer. If they can save money, how come we still bankruptcy?
He think that selling CDMA with Billion is like winning the World Cup. But it could have been double if sold couple years ago. Same as enterprise.
He asked for money while many of employee here got fired without a penny. Many of them my co-workers, friends.
I thought that this guy calls Mike Z has no brain, but today I know he is no heart either. If you got the money, enjoy it from hell.

Wow. Arrogant. Must be really pissed about having to cease use of the corporate jet last year.

Zont give him Zanythig.
He dont deZerve bonuZ
He is just full of CheZZe WhiZ

Zope Nortel zont give him Znything.
he dont deZerve bonuZ.
he just full of cheZZe-whiZ

It is "Cheez-Whiz", you zetard.

MC

Didn't he resign or quit from his CEO post ?...Two years salary for someone that ran the company aground and left ?..Give me a break

What the hell is SUCCESS claim of 150% of base salary ?...SUCCESS for what..?

This guy has no shame whatsoever !

Isn't it interesting? Mr. Z wants 2 years of severance pay. No other Nortel employee received that kind of severance - many received nothing. He wants bonus monies. When Nortel was a successful corporation, bonuses were only given for exceptionally good performance - you see, that is what makes a company successful. He wants monies for health, life and accidental death and dismemberment insurance. Nobody else is getting these benefits - in fact they are being taken away. (Perhaps he is concerned about the many people he stabbed in the back) And then he wants a single life pension benefit annuity - which nobody else received. In successful companies and/or countries, bad behaviour is not rewarded - only good behaviour. At some point in your life Mr Z, you too will look back on your life, your accomplishments and how you left the world a better place and the lives that you changed positively. It looks like the pickings will be pretty slim doesn't it?

Mike "Judas" Zafirovski ... get in line with everyone else. You should be ashamed. Do like Judas and take the sword and be responsible for your failure, incompetence, greed and ignorance.

I believe that you will personally suffer for the pain, loss, disgrace, and hurt that you have caused others. I recommend that you hide out under a rock for a few months. You've caused yourself and your family enough embarrassment and shame. Go away and await your fate.

freqmgr comment--"SEC summary clearly identifies groups of fraud conspirators by name"----Does anyone know where to find this SEC summary?

I can look for the link but it is a public document...I think it was linked on this blog at one time.

Z's contract states that he is eligible for his pension only after he has served 5 years. That should take his $6M to zero.

What a jerk!

To Mike Zafirovski

I can still remember the day back in November 2005 when Nortel announced with much fan fare that they had finally hired the right CEO to drive the company back to profitability.

Well Mr Zafirovski you instead drove Nortel right into bankruptcy and to boot you did it in less than the five years you asked patient shareholders to wait.

Shame on the Board of Directors that rubber stamped and paid those millions to your former employer Motorola. We were all so eager to have your leadership but in reality we got inexperience and incompetence which only became magnified the longer the Board allowed you to derail Nortel.

It is no wonder you were overlooked when Motorola hired their new CEO. That should of been the writing on the wall.

You have proven beyond a shadow of a doubt to be an incompetent, self serving individual who cares about nothing but himself.

On numerous occasions you gave shareholders like me false hopes with comments like "Nortel has turned the corner" and " Nortel will become a great company again." Those statements simply put, were bold faced lies.

I would assume that it was your way of milking as much compensation for as long as possible from Nortel.

Hell, you even bought shares with your own money, close to a half million bucks if I remember. Then you furnished your kids education funds with Nortel shares. I believe your words at the time were "It is now a good time to invest in Nortel."

When you were confronted about Nortel's falling share price you were so quick to point out that you too had losses. You also were suffering. What a phony you are we all saw right through that one.

You then covered your losses by giving yourself a million dollar increase in 2007. Now that one took real balls. Here you are giving yourself an undeserved increase while you are cutting employees salaries, slashing pensions, and firing thousands of employees.

Class act you are Mr Z.

Imagine making long time employees who contributed more to Nortel than you ever did get in line with other creditors while you and your cronies continued to rake in the huge salaries while plunging Nortel into bankruptcy. I believe you called it the 'Key' employee plan.

Your actions, decisions and lack of leadership have destroyed many lives and Mr Zafirovski,

a CEO you are not.

I think what I will remember most though was your "smugness" when you went to Ottawa to testify just before you quit, blaming everything and everyone but yourself for Nortel's demise.

I am sure your mentor Jack Welch would be proud.

fatzoff

Well said, thanks fatzoff. One point may add to is:

Mike Z is voluntarily resigned from Nortel, not Nortel fired him (even he deserved a pink paper), how could he pretend himself a victim and ask back for the compensation?

Could it be that bankruptcy and liquidation were already part of the plan? If not in 2005 then sometime in 2006/2007? Nortel couldn't afford to do market development/business development somewhere in that timeframe. I now understand why some LGN colleagues who had been "transferred" from LG felt Nortel was a poor selection to partner with. I remember hearing "no visions" and "lack of leadership"......

Believe it or not, certain posters are now telling shareholders that we are just crying victim, as "we were responsible" for who the BoD was made up of, and we never showed up to vote the bad people off, and we were ~ let's see, "ignorant and lazy" for believing Z's optimism and we should have known he was lying etc. etc.
How's that for passing the buck and twisting the truth. Should people who invest in a company not expect that company to be run in a profitable manner, and with integrity and transparency, and when it's not, then WE are dumb and lazy?

overall management andthe BOD is to blame for the debacle that is Nortel. bad decisions, bad vision, bad strategy and lack of industry knowledge.

but in a way yes because most shareholders blindly trusted the BOD and CEO statements. Shareholders had the power of votes especially when a few 'rogue' shareholders wanted to pass compensation and bonus changes. I remember a lot of news around that time but these people were booed, hollered at and kicked out of campus from the shareholder meetings.

well most shareholders never cared to send in their vote so they just got proxied by the CEO as if it were his vote. thats how buddies came into the BOD. thats how bad results never mattered. thats how they could do anything they wanted. if shareholders had paid attention to the bad quarterly and annual reports instead of just believing management spin then they could have orchestrated change. remember the BOD and C level execs are accountable to shareholders.

if you go back and listen to all the audio archives of shareholder meetings, there is not a lot of pointed questions from large investment houses either. everybody believed the spin doctors.

"Most" is not all. And, as you pointed out, you need more than a few to initiate change. I understand what happened on the BoD and why, but to broadly state that anyone who lost money on their investment have no one but themselves to blame is on the other end of the spectrum, and ludicrous and narrow-minded. There is responsibility on all sides. I am not a victim. I conciously chose to leave my money in, however, no company should legally be allowed to get away with what these liars and frauds have perpetrated, and I don't think I should be called ignorant or lazy, Nor did I commit any crime(s).

well I always voted for shareholder policy and down for new board members or renewals of useless members.

some of us saw this coming long time ago but all the Believe folks and a$$ kissers did not.

its upto the politicians, justice department, SEC etc. to pursue legal options. as non voting shareholder the gave up all rights a long time ago.

To be clear Mr Proto, I was responding to the query as to why shareholders did not have a say in the dissolution. My point was and is for any shareholder of any company, your say is through the BoD. Did they do Nortel shareholders right. No. Did you vote your proxy? Probably not. Did you show up to support Robert Verdun? Probably not. Like it or not, shareholders have two levers - voting in the BoD and buying / selling. That's it.

Now, if you claim there is fraud, then you should bring a lawsuit against the BoD and the management. Good luck with that.

I upheld and made use of all of my rights. I cannot force anyone else to do anything. I can only control , and be responsible for my own behavior. People still are individuals, although they may be part of a group. perhaps some, and most likely some did not make use of the tools in their hands to make their voice heard. if so, they should not feel victimized, although they still certainly have a right to demand behavior that is in line with Corporate Law.
As far as the Fraud, I believe the claims have/are/and will be already made, above and below the border. Success above the border? Not so likely,. Below the border, much more so via DOJ/SEC. Thanks for the well wishes.

I wish there was a way that we could make
John Roth, Frank Dunn, Mike Z and all the BOD;s slide down a twenty foot razor blade into a pool of iodine. Frank Dunn and the Z man would have to do it twice.
Or maybe we could just sue the bastards for all the lies.

Make them put their money down that blade too, into the iodine, then it will look exactly like what it is: Blood Money.
Money made off of other people's misery and loss.

What a lovely legacy they have left for Nortel, and for themselves.

I think it is rather laid off Nortel employees and shareholders that saw their stocks valued zero that should ask Mike Z for $12.2 M.

One thing is certain.
There will be no repercussions in Canuckistan for Mike or any of his ex team or
predecessors including Dunn.
Maybe the american system can do something with Mike or others but that
is also a highly unlikely scenario due to the fact Nortel was based in Canuckistan.
Where terrorists and refugee trolls thrive.
At least the american government have the guts to take care of their own pensioners unlike the caknuckleheads.
Quick how do I say that in French.

Hmmm....maybe if the Department of Justice follows up on the SEC filing some of these folks will have gray bar holtel space. The SEC summary clearly identifies groups of fraud conspirators by name. Maybe Mr. Madoff has room for a cell mate?

Madoff won't be around for long.. he is supposedly dying of cancer...

So Mike Z can have a solo cell...how nice!

Yup, just another perk, eh?

This CEO also led by example to influence his company's stock. How is this legal? Yet, it is.

At the government inquiry he hid behind his children, claiming they invested their education funds in Nortel (I doubt they will need loans for their education like their daddy is destitute or something ) to defend against his not knowing and unrepentantly hyping the stock was a screaming buy at $20.

(What is it with these guys like Mulrooney hiding behind their kid's education funds at government inquiries, always the same stories like Nortel and Dunn both using jurisdictional grounds. Do lawyers use a standard script as a template for the defendants in the events of specific questions for all sins to be forgiven or is there some underlying code to this, like "in all due respect" which really means with no respect at all =)

Anyways, this fraud liar also misled the government inquiry he was forced to attend claiming he got no bonuses if he asks for 21 million now (that includes bone us).

Thus, HE LIED TO THE GOVERNMENT INQUIRY THAT HE DID NOT RECEIVE BONUSES IF HE IS CLAIMING THEM NOW!

He and Binning are being sued for misleading too.

Too many victims and too many crooks, lets hope they don't need that NEW $300M in lawsuit insurance, heck thats a good chunk of what an entire business unit sells for. The employees must be as furious as when this green bozo promoted than fired Hack.

I have respect for Protosphere's views against Nortel management. They have reason behind them. Protosphere shoudl stick to that.

When Proto posts against Nortel technology, my respect goes down again. I use gear from many different manufacturers, and in my experience Nortel gear is right up there. Poor company, but I can't fault their product and engineers.

And the likes of Siemens, Eriksson and Ciena and Genband clearly agree.

maybe tech is up there but it does not matter. if customers bought for tech Nortel would still be a rockstar.

most customers salivate on third class, third rate, dollar store prices from huawei with countless patches. they are ok with so they will find out when they get third rate service too.

"Do lawyers use a standard script as a template for the defendants in the events of specific questions for all sins to be forgiven or is there some underlying code to this, like "in all due respect" which really means with no respect at all =)
------------------------------------------
Good point. How about "To be perfectly candid with you". Does this mean that without this precursor, all of your other statements have been less than candid, as in Lies? Bending the Truth? It's CEO/Exec - Speak.

You know he is going to regret filing that public domain claim now. Nortel people will be ringing his phone off the hook and probably egging his house!

Look at Goggle Earth like ihatezman said. It looks like not only a pool in his 8k square foot mansion, but a personal tennis/basketball court as well. I don't have a problem with class envy or people being rewarded well for their efforts, but this guy laid off thousands with no severance, bankrupted Nortel into Chapter 11 knowing full well it was a Chapter 7 just so he could string KIEP bonuses along. His team is every bit as corrupt as Enron in my opinion.

I think he probably wants a football field too. Anyone have access to a couple of cans of white paint? How many yards long is the Front Lawn? Let's have a scrimmage, invite Z and The *Strangler, maybe the BoD (past & present) and some current and former employees, creditors and "stakeholders".. think of some team names. One team can wear Nortel Blue Uniforms (innocent people), and maybe the other team (insiders and frauders) can wear Orange Jumpsuits. They might as well get used to wearing them now. E & Y can be The Monitors (Referees), nothing new there..

* There will have to be a special No Assault rule for Joely

How good!
He came for nothing! Destroyed the company, took all money he could and is not yet satisfied.
Hi Pensioners in US: I suggest you make a protest with banners and noise at the front of his house. The address? Look at the claim. The address and phone number are there.
By the way, Nortel employees, look at Google Earth and see how bad he is living.

What about thousands laid off employees by Mike Z. without anything? I know they should go to the court and lining up there asking for compensation from a company called Nortel. However, Nortel is soon disappeared and they were laid off undere Mike Z's helm. If no Mike Z, they would not end up in this destiny.

So if Mike Z can get money, I suggest those laid off pursue after him for the money back.

I was expecting this. More will follow as everyone will try to loot as much as they can. I don't know where his claim stands in the queue, but I'm not happy that there hasn't been much protection for the pensioners ... people who were promised pension amounts that will not be respected. No insurance for pension protection! no proper laws! It doesn't look right.

It will be interesting to see who the first creditor is that receives a cheque for a claim and how much that cheque will be.
Will also be interesting to see when that cheque is issued.
How does 2012 grab you?
Until then only the legal system gets rich.

I think it will take up to 2012 too, but I'm not interested in the outcome now. I'm disappointed with the fact that there was no insurance on pension protection ... and shortfall was allowed to happen. How could a company be allowed to offer a pension plan under the current terms. I think there's something wrong with the laws here. I'm not in favor of the laws that overly protect employees ('cos that's counter productive), but this is unfair and something I couldn't wrap my head around.

I will not be surprised if there are three queues, one for the execs, one for the creditors and the third for employees. Third class queue with third class service with third class attitude from the system.

Unless they go the colonial route of putting a sign 'dogs and grunt workers not allowed' which they are capable of.

Glad Nortel is over. At least some people will have a future. This guy put everybody at stake except himself and his buddies.

I saw Z as a jerk when he first showed up and he still is a jerk. Pity the fools who hire him next.

I remember last year he returned the bonus to nortel and said he didin't do his job well. Why now he asks for more? He is a crazy people.

well no matter what there is a clause for indemnification against class actions. hope that never happens and he is taken to the cleaners.

Mike Z shows his true color. Greed, shameless and selfish... Calculated move! Deserted before the Bankruptcy claim window opportunity closed to claim his 12.2 millions.
Q3 2009 Bonus for what? A successful sale of CDMA for 1+ billion?
Image his huge Q1,Q2 2009 bonuses for Nortel's demise and former employees, pensioners ...

Well aren't I the dufus. Here I thought more knowledge, certifications, and persistance would pay off. But, if a judge awards this, it sets the precedent that I too can quit and say I can be paid in full for the next two years. Oui?

Executive Scumbags....

you are wrong. its not work hard but work smart. but then you are neither an executive nor a scumbag. just another grunt worker who makes a grunt salary like the rest of us.

I Believe (in executives only interested in their bonuses)

what gaul. how about you pay the 30 million back turd.

maybe its to recover money for his poor boys to go to school again. they had to sell off their ferraris for puny bmw's

how about another 12.2 million for pain and suffering on Parliament Hill.

Somebody needs to take a "Black Belt" and beat the crap out of him.............

a green belt in training would be happy to do the honours.

If anything - Nortel should sue Mike.
He walked out on his contract. He should pay back the bonuses and salary.
He's responsible for Nortel's demise.
He owes Nortel.

Out of all of it, it's the bonuses that grate me the most. Who in their right mind would consider Mike Z's tenure at Nortel a success? Yes, there were factors out of his control, but nonetheless, he guided the company to it's destruction! And for this, he wants $3.8 million?

The punch lines never cease... stop it already, my ribs hurt... yer killin me here

Let me get this right.

Nortel pays a premium for a green CEO who defrauds contracts signed on several written occasions from day one after one of the largest frauds on earth to claim this was a "hard to fill position" with their refusing to negotiate exorbitant pay practices in ultimatum settlement after voting to keep fraud bonuses, to the tune of $37 million for his first year tenure, a sum by far greater than Owens who was exponentially better educated, then hired his green pals claiming they were risking careers, one of who was criminally charged and took Enterprise to new levels all right tanking it 30%... They rewarded printing paper before loopholes were closed, reiterated 3 to 5 year turnaround folding in the 3rd, even said they could manage an even larger company, heaven forbid, hyped $20 post 10X reverse split buying opportunities with largest asset a tax credit on books they sought to clean so long pals at SEC even stepped in to monitor years later, the new board trades losing options for cash into the close yet again that caused one of the largest frauds on earth to begin with as they increases lawsuit insurance to a whopping $300M to defy the laws of physics if need be, as Manley's firm defends Dunn.. and they announce liquidation day following forced government inquiry as to why they cut severances to please biog business... ah soooo endless... a joke... total clownsmanship at its finest

the punch lines never cease

pinch me

Some one, anyone, please tell me if these crooks could have got away with a fraction of the stunts they pulled in the United States. Even the RCMP is handling the criminal charges than the Department of Justice... how high does this corruption and cover-up go given all the high profilers that have been involved with Nortel, what do we not know I ask.

Next thing we know is that Dunn will want a part of the action too... After killing shareholders, employees, suppliers, creditors, etc., and soon to be buyers, they still continue killing everyone with laughter... beyond belief, to be seen... beyond hysterical

Are there so few of us that can lead and manage with integrity amid the office rat packs and loophole artists I ask... so few... it's scary out there, people's ideals are not reflected in the workplace god forgive us... and those that can lead should not be complacent or too busy or willing to challenge the ambiguities, whatever, we need them now more than ever! Times are tough, and getting meaner by the day. What recoveries, jobless, for the banks their ATM fees or government record surpluses, what debt levels and record low savings, what a ricken-rocken-gadzafrazzen sham! How obvious does it have to get, the poor sheeple.

Some one should tell Mike to go buy a lottery ticket, he has better odds than further burden the creditors list like everyone else who "loved" being a Nortel CEO and no wonder with a $21 million claim to extend lies with so many there from the crime scene and this level of mass orchestration I call the largest fraud ever anywhere. Stick it in your ear Mikey ... some Jr. with a BSc in math shouldn't have got what the other crooks with so many still there agreed to pay him to begin with.

Proceeds from all sales should go to the robbed employees and shareholders than past management or big business creditors /pals but the laws do not work that way yet let alone with a crooked OSC. Open season on the peons and masses as plea bargained and highly defended powerful tyrants get rewarded than punished. What do we not know? Almost makes on angry enough to spit doesn't it.

Just goes to show what I've always felt/said that somehow the terms of his "employment contract" were such that fail or win he would leave Nortel much wealthier than when he arrived.

LOL

Well there you have it-that is where the problem lies and has been that way for the longest time inside Nortel.

These so called executive leaders have made it so that even if the company never made a real profit,they always set the circumstances in which their bonuses would be triggered regardless if their actual performance resulted in the company's bottomline being profitable or not.

Hey Mike- I would be happy to get back a quarter of what I put into Nortel stock on the count of your "$19 is a great buying opportunity for shareholders" statement,this news of you wanting an absurd $12 million just confirms that you are both shameless and selfish,especially when considering that thousands of shareholders have lost all of their investment in Nortel stock and thousands of pensioners have seen their benefits cut after putting many more years of service into Nortel compared to your short but disastrous 3 year term.

Michael Moore's film "Capitalism..A love story " couldn't have come at a better time,I only wish part of the movie would have shown him knocking at your personal residence and asking for some of your undeserved millions back so that laidoff employees,pensioners,and shareholders could at least see that you should feel the same hit as they did on the count of your own incompetence while CEO at Nortel.

You got a Video Camera, Doc? Meet me on The Zero line of The Front Lawn...
------------------------
See this you wrote:
"These so called executive leaders have made it so that even if the company never made a real profit,they always set the circumstances in which their bonuses would be triggered regardless if their actual performance resulted in the company's bottomline being profitable or not."

An A++++ from me, this is the true origin of this steaming pile of burro-cratic bullsh*t and who knows how deep that pile goes?
This has always been their real agenda, and I bet there is/was a good part of the way things went down that was anything but by chance. How many of the actions/ inactions and results since and before Jan 14th were orchestrated well in advance to achieve their final goal, which was not NT's turnaround, but their own bank accounts. All along.

it is this metric that I will closely examine,if I ever decide to invest bin a public company again.

This one area alone says alot about the people who run public companies and how much emphasis they place on fair policy and proper ethics.Something that Nortel's leaders never respected.

The only thing unfortunately that I can take away from my miserable experience as a Nortel shareholder is that I will never give the amount of trust in good faith that I afforded Nortel heads to anyone or any company ever again.

You know the 'ole saying...screw me once shame on you,screw me twice shame on me,but unfortunately they also say that there is a sucker born every minute.

And I too.. a lesson well -learned but one that does not endear me to the corporate culture as it seemingly exists today. I take a deep breath, and shake my head, and move on, yet not untouched by this debacle. Call me naive, but I have come out of this with a heavier heart, and less optimism about the nature of the human being as a result of this..and that shift certainly weighs heavily on my psyche.

ahem, I think I can finally use your services, may I start by indicating that I have had a happy childhood... =)

kidding bud, all sins forgiven since you have seen the light and I know you know who I am =)

Hey, Mr. Ex-CEO who bailed and jumped ship after trying but failing to turn-around YOUR Company, and to this day has never owned up to a single mistake ~

Get at the back of the line where you will, like many, many others, realistically get ZERO, man. Maybe ya shoulda' worked harder or smarter to re-structure and not just take the zip-line straight to Liquidation, as evidenced by your "Promised Plan in the next few weeks" never showing up at all. Disgraceful.

Click on the link a $12.2 million claim...Is that Mikey Z's home phone number.....if so.....light that puppy up!! LOL

He needs the dough to pay for this.

http://www.zillow.com/homedetails/1291-N-Green-...

somebody take the coporate jet out, fly over, stick the butt out and take one giant poop.

Yep, appears to be. I got a vmail greeting from his Z-ness.

He needs to go back under his rock and rot !!!

He is at fault for this huge mess ! He was the CEO and had the full responsibity of this company. He should get nothing !! After screwing tens of thousands of people, he wants his millions ! At this point I would rather the IRS get their money before this jerk gets a cent.