Comments on: So, Who Won MEN?

By: wasthere

wasthere — Mon, 23 Nov 2009 20:44:57 +0000

I did work on both LOB's(MEN & Passport) while I was working there(more than 25 years) so I know what I am talking about when I say it was much mure complicated to manage MEN. Passport was a piece of cake compare to MEN.

By: less

less — Mon, 23 Nov 2009 18:29:53 +0000

By: whopperscan

whopperscan — Mon, 23 Nov 2009 16:21:35 +0000

What fascinating, brilliant facts… utterly damming, objective, crystallizing. Ultimately defines the farcical executive culture that years of hapless directors of the board permitted, led, encouraged… every single individual board member & CEO from & including John Roth's day to now, should be hounded and shamed. And lose their dammed houses….

By: wasthere

wasthere — Mon, 23 Nov 2009 15:44:57 +0000

By: less

less — Mon, 23 Nov 2009 13:29:53 +0000

lol - you don't select Nortel, Nortel selects you!

Nortel Selects Ciena as Successful Bidder for Optical Networking and Carrier Ethernet Businesses

The market opens in one hour. I hope CIEN stock doesn't select me to buy it, short or long.

By: whopperscan

whopperscan — Mon, 23 Nov 2009 11:21:35 +0000

By: happy2b

happy2b — Mon, 23 Nov 2009 04:45:40 +0000

All of Nortel's products with optics have all kinds of wavelengths, lasers, etc. Material wise MEN is no harder to manage than any other piece of equipment, and in some ways legacy products are harder to mange, because when items become obsolete it can be harder to locate replacements. The problem with MEN supply management was it was really, really bad along with a number of other sections there, they prefer things to go bad, then run around saying, “I'm working on an emergency top priority”, “Spend whatever it takes to get the job done”,”I'm here to save the day”, etc that was norm there, which indicates three things, there is a problem with your process, people are worried about their jobs, so they want to say “I'm the emergency, top priority, firefighter that saves the day”, or people are not doing there jobs.

By: protosphere

protosphere — Mon, 23 Nov 2009 02:29:05 +0000

$366 Billion market cap ...

$20 billion wasted in bad acquisitions

100M shares a year diluted to "keep good people" they said

from 95,000 employees

$4 Billion Nortel Paper printed

no severances but bonuses paid to reward bankruptcy
(they even had to be subpoened to explain why bonuses were paid but severances were not, they didn't want to go)
bonuses under ultimatum like settlement ultimatum where they refused to negotiate pay practices...

Even traded losing options for cash yet again (perhaps to diffuse given board members law firm defends Dunn)

billions burned, many thousands suffered, thankfully... hype, bull, and slander is dead and gone excluding Avaya's no better time to buy or how 9 out of 10 fortune 500;s do...

so many there in this level of mass orchestration accounting for the largest fraud in Canada, who knows what the buyers are really getting...as fraud trials loom on both sides of the border for this Canadian Enron, evil Nortel spelled backwards is letroN

By: scalppeeler

scalppeeler — Sun, 22 Nov 2009 22:21:37 +0000

This whole MEN auction may not be going the way many within the MEN organization had hoped or preached unless there are details we don't understand or haven't come to light. Let's look at the facts and what they may mean. If anybody has a different opinion now is the time to be heard-->>>>>>>>
Auction starts a week later than it was suppose to start.
Ciena keep asking for adjournments, delays or postponements to drag it out over the weekend. NSN aren't asking. Ciena are trying to raise as much cash as they can. Seems like they are scraping as much as they can from all available resources they can muster.
Even though bidding started early friday it is now sunday and this article reports they are only at 700 million.
Obvious both parties are trumping each others bid with the minimal acceptable poker raises probably in the realm of 5 million per exchange.
Seems Ciena are doing all they can do to stay in but seems NSN haven't made a bid to put Ciena to bed so it makes you wonder how bad NSN want it.
Seems like the suggestion the business may fetch around 800 million may be correct.
Hard to expect it would go for over a billion when wireless did barely over that and have larger revenues even though Nortel Wireless likely declining at a faster rate than MEN.
As the World Turns.

By: less

less — Sun, 22 Nov 2009 21:53:28 +0000

While I sit and wait for the final hammer to fall I can't help but laugh that $714 mio could be a big deal to the smarties who've dealt with real money.

http://www.montrealgazette.com/business/Nortel+...

$400 million: How many U.S. dollars Nortel has spent on outside auditors since 2005.

$400 million: The combined amount that Nortel's top five executives took home in salary, bonuses and stock options during the past decade.

$490,000 Cdn.: The approximate amount by which Nortel's value dropped every hour during Mike Zafirovski's four-year term as CEO.

$12.25 million U.S.: How much Zafirovski filed a claim for -- six weeks after he resigned -- for pension, salary, bonuses and other benefits.

26 hours, 43 minutes, 38 seconds: Approximately how long, on average, it took during Zafirovski's tenure as CEO for Nortel's value to deflate by $12.25 million U.S.

$19 million U.S.: How much Nortel paid out in 2003 in bonuses to top managers after the company inaccurately posted a profit in the first half of 2003.

$3.6 million U.S.: How much of that went to then-CEO Frank Dunn.