Letting the (Optical) Bidding Begin!

Hopefully this auction will trigger a few bidders and pump up the price. Will see !
Meanwhile, Nortel bonds are still trading, as per today, at 60 cents on the dollar, even though new jackals and vultures are showing up here and there hoping to get a part of the carcass !

"Let’s see who’s going to step up to the plate over the next three weeks."

Who ever steps up, they are going to strike out.

Nortel is having more luck selling off their tanked and tanking business units than what these units sell after so many rewarded Ninja cuts

Masters at marketing vaporware and paid for ever sneeze throughout.

It's hardly vapour ware. They rank third in the world in Optical. This board is seriously degraded by the twits.

On a different topic Enterprise employees will begin to learn their fate today and over the next 3 weeks.

For employees in North America some will receive offers from Avaya or will remain part of Nortel transitional services after the close of the deal and will be informed between Oct 19 and Nov 6 of their status.

For the remaining they will be informed between Nov 9-11 that their services will no longer be required at the close of the Avaya deal.

For those in EMEA or ADR countries they will receive their offers starting Nov 19.

Good luck to all.

I assume management will send out memos talking about a 12-18 month timeframe for restructure...

..You're wrong sir..the "I believe" girl should be there !

Darryl Edwards gone from Nortel. Samih Elhage now listed on the corp home page. LOL. Pretty soon the janitors will have their pictures on the corp home page.

"Pretty soon the janitors will have their pictures on the corp home page."
-----------------------------
It's possible that some janitors already hold dual roles there.

Been there, Owned that. I did what I could to keep the boat afloat.

Hey Less- You want to see some cool engineering?
Check this out ~

http://www.eng.umd.edu/media/pressreleases/pr10...

The third link down under "Movies" is the You-Tube link that shows the development, from prototype =) forward. U of MD's Robotic Samara

That was pretty darn neat.

Yup, pretty awesome stuff. Thought you'd enjoy it..

That is correct.

Ciena will NOT be the winning bidder for the optical division, they will drop out
quickly, the question is who will be the winning bidder, and whether they will agree to the bidding contract agreement, keep all Ottawa optical employees, stay in the present building, honour salaries, years of service, vacations, etc

It will be interesting watching……

The winning bidder whether Ciena or whomever must agree to the same conditions that have already been established with Ciena as the stalking horse.
So there is no question as to whether they will agree to the bidding contract agreement. They have no choice. They must agree to those already established terms. That is how it worked for the other two businesses that were sold and that is one of the reasons you have a stalking horse. Conditions and low bids being two of the most obvious.

In any situation conditions can change instantly put this way

$500K = meets all conditions of the stalking horse
$800K bid = meets half of the conditions of the stalking horse

Who do you think the judge and creditor would go with?

Any intelligent corporation would never agree to keep all the employees
of a purchased company, don't know what you've got until you have
a detail internal view, figure out the restructuring and merger of the
two, etc.....

I think you meant to put an M there instead of a K.
I hope anyway.

exactly but other bidders I think have to abide by the stalking horse agreement. maybe some changes are allowed but not significant.

on the other hand I think creditors would go for the highest bid. so if a company comes along with a higher bid taking only half the employees then it should be allowed.

As we saw with the Enterprise Auction, some clauses in the Stalking Horse Agreement can be changed. Representatives from the Bondholder and Unsecured Creditor Committees have a seat at the auction table with the ability to review bids.

ah... TongeInCheeks, just for old time sake... who exactly do you mean by "we"...

"As we saw" is so redundant.

heh... =)

now say thankyou

Some clauses can change but the fact remains that Ciena agreed to hire approximately 2,000 employees. That translates to about 85 percent. If there is a variance from these terms it will be very small and very negligible. Anyone suggesting a new buyer would take only half of the employees is not following history and how these things play out. Changes will not be significant if any. What should be allowed and what will be allowed are very likely two different scenarios.

well the jerks in management are assured of a job so they will just repeat the same stupidity at Ciena.Good luck to whoever assimilates all these jokers.

Ciena will be a war zone since they have a ton of VPs all over the place.

Nortel's LSS black belts will persevere, I guarantee it.

No more BBs left. Every BB I knew is no longer with Nortel. Well, except for Jesse Joel Hackney a.k.a. Carolina Choker, that is.

lol - them BBs got me fired from my new job fixing cell phones. It was an ever so vaguely familiar scenario:Ya gotta make the numbers by any means necessary, even if it equates to throwing away working cell phone parts that could be used to build more working cell phones.

We live in a disposable world, people, careers, parts, lightbulbs.. none of it matters anymore, something new comes along, and the old is trashed without so much as a thought.

Despite making for neat graphs and charts management silos can have some serious drawbacks and if anyone knows about waste its a former Nortel R&D employee.

I don't know why but it pisses me off when I hear B Owens or Mike Z will stay in history books as heroes.
Why Board of Directors just did not fire them for incompetence, lost assets or fraudulent intentions as I saw the frauds with my naked eye?
The other crook, serving time in US jail wanted to do community work teaching students business ethics. /conrad lord black/
What if Mike Z wanted to teach business at Toronto University /as an example/?
What kind of world we live in?
Can we protect our children?
My son wants to study at UofT.
God save us!
Would Mike Z file a claim of yet another $12 mill to add to his millions stolen from shareholders, employees, pensioners, suppliers...if BoD just fired him?
Think about that
btw
I forgot to mention that if Frank Dunn wins his case he will be able to teach students_our children how to cook books in accounting.
Thank you RCMP for filing charges against him.
The White Collar crime unit is very much underfunded as I know.
24 RCMP forensic accountants combed Nortel's accounting books, collecting 20 mill pages of documents with $5 mill funds!
On the other hand, Nortel had unlimited financing for his lawyers... billions
The trials are coming soon to your nearest tv screen
How do I know it?
I feel it, ;-)
My feelings have been perfectly right in last 5 years TiCheek can confirm that if he has any bones left in his spine
As a good example I will mention about my best friend now, The Psychiatrist
I confronted him face to face many times in the past just for one reason.
I was just like the good Shepard who leaves 99 sheep just to look for one which was lost
So glad, very glad that it worked out nice for us, mr whoever, The Psychiatrist
please post more on this blog, please. You have the spine and you are much stronger now after all the bad experience with Nortel corp and NT stock.
Forgive Proto as he is injured very much by Nortel and Nortel's supporters in the past.

hahaha... that was a funny post
Highlighting so many wild contradictions like Nortel

...while you can just feel fraud trials coming? Like telepathy or cramps ....plop-plop fizz-fizz oh what a relief it is. hahaha... good one

Don't worry about your son going to UofT, Mike Z and Dunn are not professors but lowly accountanting and Bachelors degrees that won't cut it to teach a thing. It is one of the best Universities in Canada your some may be able to get into, I would not worry. Even if they were qualified to teach, crooks and loophole artists would be expelled.

And Conrad teaches inmates not students, and history (his major) not business ethics...after his kangaroo court high conviction rate blue collar jury nailed him for exorbitance than fraud with liar key witness Rattler and entrapment by soured buyer of his tanked company who's very board agreed to pay exorbitantly. He should teach ethics on miscarriage of justice instead in my differing view.

We do not always agree like when you said RIM was crooked too and I showed you how Apple backdated options for years and 10 times longer, so we are not all perfect with telepathy, we all make mistakes forgiving good shepard, like supporting Nortel at one point... yet we were dead on for years with this fraud dog...why? =)

nor do I think last 2 CEO will go down in history as heros...quite the contrary disgraced even in their own circles

Past pumpers were rude and unethical, with stalking and slander, they leave us alone now seeing we were right. There are hardly any more left.

Please do not ask forgiveness on my behalf with them, these pumpers never hurt me very much as you claim, they were entertaining. If anything they owe me an apology not forgiveness and hardly some one I would trust to align myself with.

I am not heartless but I am here for the truth and facts, not bias, boasting, and BS like old pumper tactics, they were funny too (99.9% later) ...I am like you, I bravely tell it straight up and encourage enlightening debate to discover truths... like those that makes us always right for last 5 years =)

I wonder if anyone is still posting Nortel will emerge from bankruptcy? hahaha

We know each other very much, don't we?
but I will still stay behind AAPL comp and against Conrad Black
I just can get a small step to compromise your opinion about CBlack. Yes, He is punished much more than other Canadian crooks, who are much bigger crooks than him.
In other words
There are plenty of crooks in Canada never punished or just a slap on a wrist, but Conrad got a lot!
6.5 years and he is still in jail.
I know he talks to inmates but he wanted out and do a community work by teaching business.

Good call on Apple... Always good news with this company:


http://www.theglobeandmail.com/globe-investor/a...

Apple profit soars 47 per cent

The Associated Press Published on Monday, Oct. 19, 2009 4:47PM EDT Last updated on Monday, Oct. 19, 2009 10:00PM EDT

Apple Inc. (AAPL-Q189.861.810.96%) said its profit rose 47 per cent in the most recent quarter as more people bought Mac computers and gave in to the iPhone craze.

The results sent Apple shares surging 7 per cent in extended trading Monday to an all-time high.


boosted iPhone sales from July through September to 7.4 million devices, half a million more than in the same period of 2008.
Apple sold 3.1 million Macs, a 19 per cent rise from the same period a year ago.

For the entire 2009 year, Apple said its profit rose 18 per cent to $5.7-billion

________________________________________


Now why couldn't have Nortel done that in 2004 when they were announcing orders like Orange, etc., left right and center than drop a bomb. =)

Thank you Proto.
Do you remember when I said about a stock for widows and orphans?
When was it?
2004?
about iPod revolution coming
What MindG said about that?
They all have been proven wrong and fools.
It is very interesting watching AAPL stock getting closer to NSFT market cap size.
Interesting and scary.
and read that one
Apple’s report stunned just about everyone. Apple’s closed ecosystem is proving to be the way to win in modern technology. Unless your business model has some kind of moat surrounding it, you are destined to become just another commodity caught in a pricing war. Apple’s earnings report defies the logic that says you can’t sell high priced computers in a recession. 3.1 million Macs and 46% net income growth shows that avoiding the low margin netbook fad is the way to go. Oh by the way, real earnings growth was much higher. Apple’s real net income was $2.85 billion on revenue of $12.25 billion (non-GAAP). Consumers are rewarding this company because they trust the products.

http://www.apple.com/magicmouse/

How about the cool new Magic Mouse? One of todays Top Trends on Twitter today, along with Macbook

Mouse which does everything?
With a tauch screen?
The part of an iPod Touch/Phone?
Yes, Steve jobs had a dream/vision and he is well on his way to deliver.
The digital era with AAPL making the revolution in High Tech.
There is no limits for human mind /Barack Obama/

Mac = The Cadillac of computers. Not everyone can afford one, but no one thinks otherwise.
The other thing is:
Once you have a Mac-
There's no going Back.

And I remember when Nortel dumped Mac.....another good decision?

Another decision made the NT way.

I wonder if anyone is still posting Nortel will emerge from bankruptcy?
--------------------------------------
I think TiC finally stopped.. was it when the Captain deserted the sinking ship, or more recently? I can' t remember ..

"The ship didnt sink. the seas rose around it"

"ship" is a typo
some one pressed the flush handle

"I don't know why but it pisses me off when I hear B Owens or Mike Z will stay in history books as heroes.
Why Board of Directors just did not fire them for incompetence, lost assets or fraudulent intentions as I saw the frauds with my naked eye?"
-------------------------------------------
Why, yes4 do you think they will be remembered as heroes? I don't see it that way at all. I think they will be vilified, as well they should be. Do you really think anyone recording this history will show them in a good light? Even a GE light bulb wouldn't help them shine now.. I hope you, and pertinent others are collaborating on a book as we speak, if not, you certainly should be..

GP

p.s. Spineless creatures = invertebrates, in this case, Less than jellyfish .. amoebas.. which have no brains..

"I don't know why but it pisses me off when I hear B Owens or Mike Z will stay in history books as heroes."

the forgiving shepard was joking that it angers him... or that they will go down in history as heros...that is too out of character for him to be serious

he just must have been joking...otherwise, I will start worrying about him =)

BoD do NOT terminate CEOs, the reason the BoD of directors meet 3-4 times a year, listen to the CEO speak about their plans and vision, vote yes to the CEO, and leave until the next BoD meeting in a few months, and get paid in excess of $250,000 a year for nodding yes to the CEO a few times a year. If BoD members vote against a CEO they will soon be gone, if a BoD terminate a CEO they will lose out on a good deal, when a new CEO comes on board and wants a new BoD. Look at BoD members they usually sit on several BoD, have their own company or work else where, they are not connected to the company like employees, and don’t have a vested interested in the company. It’s all about stuffing your pockets with as much money as you can, and moving on to next good gig, or sucker.

Well it looks like Nortel and Ciena did tried to sneak one here !

Fortunately, the judge did oppose to the previous clauses that would had given Ciena a net advantage.

http://www.bloomberg.com/apps/news?pid=newsarch...

Thanks Mister for protecting the creditors rights.
BOOOOOhhhh Nortel

Well it looks like Nortel and Ciena did tried to sneak one here !

Fortunately, judge Gross did oppose to the previous clauses that would had given Ciena a net advantage.

http://www.bloomberg.com/apps/news?pid=newsarch...

Thanks Mr Gross for protecting the creditors rights.
BOOOOOhhhh Nortel

Busy week that week with GSM bids due 11/5 and auction 11/9 along with the MEN auction. Poor ole' CVAS - you'll be the only one left at the shell formerly known as Nortel

Well it looks like Nortel and Ciena did tried to sneak one here !

Fortunately, judge Gross did oppose to the previous clauses that would had given Ciena a net advantage.

http://www.bloomberg.com/apps/news?pid=newsarch...

Thanks Mr Gross for protecting the creditors rights.
BOOOOOhhhh Nortel

Yes, it's dam shame buckooh! CVAS, aka CS2000 (CS2100) will all be history in the next few months. Wonder how both enterprise (military and commercial etc.) and carrier customers will move forward in replacing these possibly Manufactured Discontinued product(s). Anyone thinking of sticking with the CS2100 or CS2000 (CVAS) or upgrading from the DMS100 or SL100 to the CS2100 or CS2000, they will have to think twice before investing in this volatile situation. Time will tell if the CVAS will survive the breakup.

Customers are continuing to purchase new Nortel softswitches on the carrier side. I continue to receive PO's from customers for new CS1500s and my CS2000 customers continue to purchase extensions for both HW & SW. In my conversations with customers, nearly all have maintained their loyalty to Nortel and are either moving ahead with purchases or just waiting for it all to fall out. Nortel's position as #1 worldwide in carrier VoIP deployments is not smoke & mirrors, it's very real. Not saying that CVAS doesn't have a tough road ahead of it but it's a fact..... we continue to sell new switches and quite frankly, competition in this space is not strong. Whoever buys this business will get a profitable business with no debt and the leading market position.

some in CVAS may see it as a good thing to be at the stern of the SS Nortanic when it comes to asset sales...at least if you're going to lose your job on the effective date of the transaction, you were able to get a paycheque that much longer..

We're assuming Nortel/Nortel Business Solutions/E&Y acting as the dismantler of the SS Nortanic will have a source of money through some point next year... After all the other divisions are sold and sources of funding turned off, at some point a CVAS employee is going to show up at a Nortel office to see it boarded up with a note on the window saying the Nortanic is in Ch 7 liquidation...

From best result to worst here they are for current employees.
Transfer to a buyer.
Transfer to NBS.
Laid off.
Hard to argue with that.

If you guys are not going to say something intelligent, it is much better not to say it.

Alright warren beatty.
Oscar winning material.

yer all a bunch of kittens.

I say next time this year, you will see only a small portion of Nortel employees still employed with their new employers. It sad that incompetence rewarded with Bonuses, actually it's pathetic!

Transfer to NBS = laid off ~June-Oct 2010... To Nortel watcher's point - just that much longer with a paycheque...

Well it looks like Nortel and Ciena did tried to sneak one here !

Fortunately, judge Gross did opposed to the previous clauses that would had given Ciena a net advantage.

http://www.bloomberg.com/apps/news?pid=newsarch...

Thanks Mr Gross for protecting the creditors rights.
BOOOOOhhhh Nortel

It continues to mystify me why people think Nortel are controlling the Auctions.
Nortel handed over control of the company to E&Y, who as administrators, are orchestrating the sell-offs, contracts etc.

Nortel are only skillful at making and supporting networks, not in selling business parts (as proven with attempted selloffs prior to January 14th this year).

It is the administrators who run the company and sell it off, so look to Earnst and Young if you have gripes on that front.

Nortel is still calling the shots. That is why things are so delayed. Also liquidation is Chapter 7 but since they are operating under Chapter 11, it is slow.