Comments on: Happy Anniversary, Nortel!

By: kiramatalishah

kiramatalishah — Wed, 03 Feb 2010 11:53:29 +0000

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By: kiramatalishah

kiramatalishah — Wed, 03 Feb 2010 06:53:29 +0000

By: henrylow

henrylow — Thu, 28 Jan 2010 08:21:35 +0000

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By: 4merEmployee22

4merEmployee22 — Sat, 16 Jan 2010 02:26:57 +0000

What happened in HAITI was caused by a natural catastrophy!

What happened with NORTEL was caused by a manmade catastrophy!

By: felixmk

felixmk — Fri, 15 Jan 2010 21:39:55 +0000

1. The GSM business was run into the ground by management. There is also a huge bonus for the execs in every business that gets sold, whether the price is good or bad. This is why GSM was sold for nothing and piecemeal.
2. For some reason, the Canadian govt does not protect pensions as well as the US.
3. Labor laws, next question.
4. It was just a claim, next question.
5. Mike Z realized, after filing bankruptcy, that he was living in a dream world of his own creation where lean six sigma and optimism would turn the company around.
6. No guarantees.

By: less

less — Fri, 15 Jan 2010 14:38:02 +0000

"Effective March 15, 2007"

9. the approval of the annual or semi-annual goals and objectives of the
Corporation and the Chief Executive Officer, and the assessment of the performance of the Corporation and the Chief Executive Officer against the approved objectives;

10. the adoption of a strategic planning process that includes the periodic (not less than annually) review and approval of strategic business plans;

At Nortel this equated to checking in once year, coming up with a "plan", restating earnings, and going to lunch on the revised company dime.

In discharging its duties and responsibilities, the Board of Directors may conduct such examinations, investigations or inquiries, and engage such special legal, accounting or other advisors, at the expense of the Corporation, at such time or times and on such terms and conditions, including fees, as the Board of Directors considers appropriate.

"Discharged", meaning first to go were in fact duties and responsibilites.

The Board of Directors shall review and assess the adequacy of the mandate of the Board of Directors annually.

The board shall police itself once a year or so, thank you. Now get back to work.

By: bankrupt_bob

bankrupt_bob — Fri, 15 Jan 2010 13:57:21 +0000

Free will influenced by something leaked into the air. A true weapon of mass destruction!

By: bankrupt_bob

bankrupt_bob — Fri, 15 Jan 2010 13:54:24 +0000

From one dummy to another, how could we have been so naive as to “believe” in NT?!

By: horace_grimswold

horace_grimswold — Fri, 15 Jan 2010 13:09:53 +0000

Jesus Christ I was about to retort that the Board of Directors should hold the CEO and team accountable, but then I read their mandate and got lost after the 9th bullet point:

http://www.nortel.com/corporate/investor/collat...

...and ironically it never mentions holding the CEO accountable for his performance or actions (or inactions).

Jeepers, no wonder Nortel went bankrupt.

By: less

less — Fri, 15 Jan 2010 11:26:07 +0000

Ah, I'm sure Mikes trying to get “to the bottom of things” both literally and figuratively. I imagine him doing research for his personal sequel to Jack Welch's bestselling books.
Jack was okay, and all, but hardly scratched the surface of the 4e's–Energy, Energizers, Edge, and Execute Leadership – like Zack Welcher did.

Energy – complain about Ciscos, not NTs. wastefulness
Energizers – Hackney's cutting through traffic like the proverbial knife, or accounting's earnings restatements
Edge – cruising on the edge of bankruptcy for 5 solid years with ones head held high
Execute Leadership – all just depends on what your defenition of “execute” is

Z spelled all things with 4es. Just get a load of, say, LEEn SEx SEgma. That inspires all sorts of images, dunnit