Nortel’s Sweet CEO Pension Packages

Funny that Mike Z never finished his 5 years and while he resigned as CEO has filed in his credit petition for the value of his so called pension. The nerve of this guy…still wonder why he hasn't “accidentally” been hit by a bus yet…

Are we 100% sure that Z really resigned? Or, was he asked to leave and Notell didn't want it to be public knowledge? There are many cases where CEO's say they resigned, i.e. walked, only to find out later that it was a forced decision. I am just wondering if the answer would have a bearing on his “pension” as written in his contract.

seen CEOs since Stern days. So far Monty was the best with vision and execution. Roth picked up. The string of acquisitions were before Nortel's time on what he was trying to do. Bad execution on management's part as they could not integrate all the acquisitons for profit.

Dunn, Owens and Z did not have vision nor execution. Owens was in protection mode from the Dunn bust. Z is the worst CEO ever. He did not understand the business, only talked tough, got in his buddies, introduced all the wrong things and screwed up.

You mean, like “Better Late Then Never”?

Right, so my point is.. on what basis do these people get hired? especially one that was clearly dissed when passed-over for promotion at his former company? And then, on what basis does the BoD and other insiders put their trust in such a person? These are the Q & A that have people considering that the NT failure was, a set-up, for chosen people to benefit from. It's not paranoia, it is, trying to figure out, for what other possible reason would sane people take this course of action??

leaving for not being promoted happens all the time. there are some really good people who leave and are successful when they moved on.

this is classic halo effect believing a tough talking exec with 'experience' at big companies will come in, swing and hit the ball out of the park. many cutting edge startups were chopped down by these type of executives, who came with big ideas but only spent money and time away. when they left it was time to close shop.

a really smart BOD would prevent this happening. invesotrs with control would also enforce change. with Nortel the BOD did not know what was going on. Investors or shareholders were not in control. Everybody swallowed the Doolaid, Olaid and Zoolaid.

Anybody opposed on the inside (smart people at all levels mind you) were quickly sidelined and removed surgically.

What accreditation merits such exorbitance without results? My goodness =)

After the bubble collapsed, desperation seems to have led to catastrophe. They already neared folding before (most do thereafter as we reiterated).

It was easy to see that Mike Z. would become Nortel's last CEO (like we also said)

There must have been an army of better qualified people at Nortel, like good MBAs, than a lowly accountant or Bachelor of Sciences in Mathematics to lead in what they could not drive, let alone something larger.

Why didn't better heads prevail after the dream team board. Plea bargained and timely resigned under the disgrace of denying obvious red flags. The new green team approved bonuses just as swiftly.

Heck, even green team board member Manley's law firm even defends Dunn. So many insider only CFOs makes one think it is too obvious. Bonuses after folding, voting keeping fraud bonuses too… and who came from the past telecom wars let alone any telecom background to begin with since Dunn.

Each of these CEOs restated financial numbers. How could they reward finance a thing or before loopholes were closed, to then issue even more creative dilutive notes, in the billions. Nortel paper even paid the fraud fallout. Why print billions more when no one would buy the best mouse trap from them anyways?

Eventually restating a restated restatement (when we freaked the split second triple profits were announced too) amid extending repair of accounting that never did get it 100% right, like getting almost all of the cancer in surgery, nor did they shake their addiction to bonuses even when cutting severances under bankruptcy protection which was after protection under safe harbor, after ultimatum settlement they refused to negotiate pay practices, like how obvious does it have to get.

So much benefit of the doubt up to trying to dodge a government inquiry.

Bonuses get paid even after folding first, like their new lawsuit insurance premiums and legal bills …severances and pensions just get sacked.

Owens inherited a can of worms since the fraud amid silence and delay to claim many were “still there and hard to find”. ***Find who advised Owens this was a “hard to fill role” to find your tyrant I say.*** He paid for losing or declining earnings for revenue sake like BSNL and PEC, His green successor they paid a hefty premium for just froze like Bambi in the Mack truck's headlights and just cut and cut and cut like a Ninja what they could, ill affording severances ( as we said too) to ever becoming profitable.

The last restatement was the symptom to have killed the company for good but the fraud was ultimate cause… fraud for bonuses… as they still pay bonuses after Nortel went bankrupt, to loot the corpse, and the very reason for its downfall to begin with when the board traded options for cash last time around and again at the close..not only too obvious but an utter joke.

Dunn, well he speaks for himself embroiled in the largest fraud settlement in Canada as fraud trials loom. In Canada he may get 4 months jail.

Who knows what went on at NoTell and what we do not know about as they always try to downplay, diffuse, deny knowing, etc… same theatrics different day since Dunn… Fraud killed this company and the following puppets reputations. Everyone lost the bet or was robbed. Their ambiguities point to too may commonalities throught as too obvious, an utter joke.

Thanksgiving – giving thanks where thanks are due sounds really noble.

Recognized leaders like Mike Z routinely gave thanks to their underlings through good times and bad, so it would be a noble gesture to reciprocate in kind. Get the remaining global leaders at Nortel in a festive mood for Xmas, another festival of thanks and giving.

Imagine Hole Acne's wide eyes upon seeing a crowd of people caroling for peace and love at his property. His peepers might fall out all the way!

(Just don't sing off-key or he might choke you)

you must be kidding about Roth, the Nortel was huge in debt after his departure as per his decision to grow up company and buy other companies for enormous prices. If you asking me, with Roth Nortel starting rotting

OT – it could be argued that he was a deer in the headlights, of sorts, most of the time, but to me this video is a most accurate metaphor of Mike Z as a artiodactyla ruminantia cervidae cervinae cervus

http://www.youtube.com/watch?v=SqqwF9uJAcE

How can these individuals shave each morning without wanting to cut their own throats ? A just feeling for the greed and scheming that they accomplished during their working career's, what goes around ,comes around and the families and children destroyed will certainly come back to haunt you, and your own must look on you with pride and will live down your mistakes for the rest of their lives !!!

and I feel sorry as an employee, when I claim a cell phone expense more than fifty dollars!!!