Cartoon of the Day

The cartoon is missing bankruptcy judges and E&Y in the background, guiding the “execs” through the dark (though they're all too familiar to the dark side and working in the shadows).

“Pah. See how lazy the protesters are, just standing around all day. Thats what hurt Nortel all along. Thats why they were fired. They don't look like they're starving. The lady's got fashionable boots and a hat on.”

http://www2.canada.com/ottawacitizen/news/obser…
“Nortel changed from an engineering culture that favored innovation to one that exalted pay and bonuses,” says a former vice-president. “We never recovered.” The extent of Nortel Networks' fall from grace is shocking.

http://www.financialpost.com/news-sectors/story…
Nortel Networks plans to pay almost 1,000 top executives up to US$45-million in cash incentive bonuses

http://localtechwire.com/business/local_tech_wi…
Nortel’s remaining board members each get a $100,000 raise

http://www.ottawacitizen.com/Business/Nortel+or…
Nortel CEO ordered to explain bonus payments
to explain how he and other senior managers qualified for millions of dollars in bonus payments as pensioners and employees were having their benefits cut

ex-CEO Bill Owens making a statement of claim for $2,179,606 of pension payments owed to him.

Ex-Nortel CEO Mike Zafirovski has outraged former employees after claiming more than $12 million from the insolvent network vendor, reported the Canadian Press.

http://www.cbc.ca/canada/story/2009/11/26/norte…
Nortel approves more exec raises-November 26, 2009
Management at Nortel approved a plan this fall to give another round of raises to its top managers, according to an internal corporate document obtained by CBC News. The former employees contacted by CBC were outraged at what they say is another example of corporate greed.

…endless… to be seen to be believed…

hundreds of millions in compensation to a management that saw $366 billion market cap vaporized after $20B wasted in acquisitions then fraud for , yep you got it, bonuses …with CEO Dunn (who's is defended by Manley's law firm) and their reluctance to chase past officers, old board timely resigns in plea bargain, they voted to keep fraud bonuses, refused to negotiate pay practices in fraud settlement, that was even tanked with further revisions, extends repair of controls with open season on remuneration, .. endless… Nortel stinks. Thankfully gone now.

It isn't their far from destitute big business creditors that will suffer.

These big bond holders and banks are the very first to get paid and they knew that when signing over billions to their Nortel pals in the open markets that paid the fraud fallout and antsy creditors as they just kept on paying bonuses they refused to negotiate under fraud settlement ultimatum. It was endless..

I hope they work fast to pass the “Nortel Bill” ASAP to protect employee severances and pensions over these big creditors. Might also clean up lending policies past closing loopholes after the fact. I also believe this law may restore international respect given our lax laws and how much protection they have already been extended.

Everyone should be faxing and writing their MPs and Ottawa to act quickly than just publicize the injustices. It is the least they can do for the lifeblood going into supporting them, and not the crooked management that seems to have reaped all of the rewards along with their high interest creditors, all who get paid first, even their increased $300M insurance for lawsuits of all things gets paid first for heavens sakes! Too many get paid first when the severances and pensions should be first and foremost, like our provincial laws, than our prehistoric federal laws that allowed such a loophole. Pray for relief in that they will close this one in time!

the bags of loot need to be bigger. maybe they had to run in and out a few times to fill the trunks of their cars. anyways can you imagine what life will be for these people when they are being cursed over and over by hundreds of thousands of people – especially if it comes true.

I am sure when they are spending all that money on a madame, or buying a pound of grass and booze they'll be at their wits end with everyone “cursing them”.
I bet some of them will move permanently to the beaches in Acapulco.

Leviticus 19:13
“Thou shalt not defraud thy neighbor, neither rob him: the wages of him that is hired shall not abide with thee all night until the morning.”

Executives, E&Y, bankruptcy judges will be held accountable for what they have done in aiding and abetting egregious acts against their fellow man. Keeping what a person has earned is stealing, plain and simple.

In some cases (i.e., Richard Lowe), investments were secured in November 2008, just ahead or Chapter 11 announcement, while the remainder of the corporation was led to believe otherwise. Yet, the shareholder and employee is told “Nortel is no wilting flower” and “BK not imminent”. The least they could have done is to have paid severance. Instead, decisions were made – and held up in the courts – to not pay severance.

James 5:4
“Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth.”

Jeremiah 22:13
“Woe to him who builds his house without righteousness And his upper rooms without justice, Who uses his neighbor's services without pay And does not give him his wages;

Could be it big ole saucer round blue eyes? Pretty boy who's just itchin' to choke, strike or strangle the next lady who gets in “his way'? If so, She better get a bodyguard

Pic needs a “dishonour roll” showing the names of all the naughty execs/dirctors and where they are now

“I hear Nortel plans to aggressively expand its globally-excellent presence on Chapter St. from 11 way up the block to lot 7. So, there, all you non-Believers.”

Answer: no

The optical drama isn't finished yet.
http://bit.ly/880KQv

I am not sure if this has legs as the auction is over and the winner declared. I am also wondering why the counter-offer would not be more significant then this. I think NSN is grasping at straws.

I expect an orgy of bonii (sp?) any which old way.

Here is a link to video clips of CBC News Network coverage on the Nortel Execs bonuses of 26 & 27 Nov.

http://www.youtube.com/view_play_list?p=E039011…

Well, there you go then, awesome plan!! We can also use the fiber optic cables.. can you picture how?? I can.

: > ) Less, the longer i “talk” to you, i like you More and not Less ..

Not in this life…..too well protected by folks like Manley, etc.