Nortel Shares the Wealth…With a Few

did you expect anything different, really? nice way to get promotions though.

MC, stop reading it if you are getting no value from it….there's plenty of other blogs to go to. For the rest of us, thanks Mark for the most public exposure of one of the biggest corporate scandals in Canadian history. All the time stuff like thiis continues to happen….the public need to be made aware if it.

you just shut up. you don't have to read it. Stupid Moose.

We should keep this blog going.

I do not agree with all the posts in this blog. Some are speculations, and some are just random comments from angry and disappointed ex-Nortel employee. But this is a place for us to share our thoughts. We should be thankful that we are able to do that. Some countries would block the whole thing, or even hack in your account and prosecute you for saying what you think.

Thanks Mark for providing this platform. And like others said, if you find this blog stupid or offending you, please exercise your freedom of not reading this.

Well, well – here we go again, Nortel. Giving out heaps of cash for employee retention when in this economy, they should be simply lucky the have a job, let alone a job that continues to double their income on a bi-annual basis. How long has Christopher Recaute been an employee at Nortel for and how much is he making and why would he need extensive retention bonuses to keep him there? Should we all go and ask for our jobs back to help offset the load instead of them working less for more as the company unwinds? Why doesn't Nortel just pay severances when they are doing ludicrous salary bonuses just for showing up and doing a day's work? Where is the justice? It would be hard pressed for any of them receiving these types of retention bonuses to go out and find a job in this market – instead they are working for a speedy retirement just to hang in there.

As a defrauded redundee from December 2008… Nortel HR and Finance knew exactly what they were doing, because Ernst and Young had already advised the executive what to do in Oct/Nov 2008… I am getting to the point where the reasons for my Military Medical Discharge are coming into play … Mild Adjustment Disorder… MAD… and I feel a relapse coming on . I might just be tempted to fail to adjust and start taking it out on the conspirators in this outrageouse fraud being given credence and legality by the mal-administration of Ernst and Young

Shows you again how 'business made complex and costly' was Nortel's 'way' during all those years. Now even the closure can't be done with efficiency and at a minimum of cost. I always said that it was a good place to work(money wise) but not to invest. This company is dying the way it lived ; most of its revenues were(are) spent and waste inside the walls !

i can bet people in NBS will stay as long s they can. who will hire them in this economy. its not like companies are hiring grads even before they finish college due to shortage.

“legality by the mal-administration of Ernst and Young”

The poster boys of conflict of interest E&Y who get paid first?
Contrary to what they told the government in forced inquiry using airbus gate Murooney's with bells on template about his kids education… they hired bankruptcy Binning well before announcing folding… after so many insider only CFOs… but try proving they lied… as obvious as it may seem

these clowns like Dunn and Nortel have templates like jurisdictional grounds that carry weight in between states, to saying anything that can not be proven or easily…even increased lawsuit insurance to a whopping $300M when they ironically traded options again than calling it something else to alleviate a failed board not getting paid… I laughed when I read ultimatum stands unless fraud ios associated with the pensions, hahaha… what a clause

crooks I tell ya!

The same way you have time to change an ID to defend rude stupidity. What is it with you guys still knocking such a proven blog, Heh, its like the pumpers on Yahoo claiming Nortel will rise from the ashes.. there seems to be a fine line between wishful intent and delusion with you guys while you attack the messengers. You don't like it, don't read it, simple as that,,, rude and low class “teleguy” is another ID… right? Can't be that many bitter and challenged…

They will. Worse yet, give them no choice /alternative contrary to what Nortel aspires by selling these last. Like how much have they lost waiting already.

The Toronto-based company said it is “exploring strategic alternatives to maximize the value””considering a range of options” ““Nothing has been decided yet”

First point to note is that “the company said”. They lie with no credibility. Any time I read “the company said” I disregard every word they say)

Nortel's options and alternatives restricted by the courts ruling not what they want.

“the company has come under increasing pressure from lenders, suppliers and stranded pensioners to salvage more money from the broken company.”
(as per the courts)

Here they are kicking out even more millions to a few in management as Rome burns as further proof to how crooked this empire remains, after yet another ultimatum settlement, this time for pensions.

The courts should be gleeful to see these assets sold given the belly aching creditors. The judge must also deal with and what they owe with his hands tied to appease creditor they claim protection from, and not just Nortel under chapter 11 bankruptcy protection laws where they get to reward themselves for liquidating, again under ultimatum, than others under Chapter 7.

“Since Nortel filed for protection from its creditors last year, it has collected more than $3-billion in net proceeds by selling its various divisions to bigger foreign competitors. The company has $4.5-billion of long-term debt and owes billions of dollars more to suppliers and its underfunded pension plans.”

Hence, they will still be short plenty, enough to make them sell patents.

Regardless of luxuries they feel they have to ponder in options or alternatives.

They will come up short and must liquidate (under the enormous liberties of chapter 11 so far unlike any other company) All must be sold. There is no advantage to letting pay happy tanker keep operating any longer with depreciating assets and this lame pay happy stunt they try and pull.

Competition is also working on LTE for all they are worth. Nortel is stigmatized anyway. no matter what they do, again for all they are worth, right now anyways. Less later as only management sees money as usual.

<<…imagine how pissed off you might be upon learning that Nortel plans to pay $97.3-million over the next two years to keep nearly 1,500 employees.>>

Averages out to $32,433.33 / employee / year. (No deduction made for the huge amounts granted to the “selected few.”) …Heck, they must have outsourced this, as well!

Moose_Chaser must be an appointed rep of the board. Should be banned from posting. Still complains about the blog but still visits.

Odd person.

The NSIP “discretionary pool” will go for things like getting tickets to the New York Mets games. The Nortel leaders and their E&Y friends will no doubt have the best seats in town.

Probably they will find a way to keep using Empire Level Luxury Suite 214 even though Queens BallPark Company LLC filed a claim for $6,898,294.20. See Claim 6709, Exhibit F, page 27

Not really that odd. As Desk Jockey put it, a 2-3 year old. And what do they typically do? Whatever gets the attention of others, childish rants and raves that are 100% self-centered and impestuous.

Usually, the best strategy if you really want to deflate and extinguish these comments is to completely ignore them. Then there is no pay-off for him. Hard to do sometimes, but generally effective.

But we have to remember how Nortel progress before and lift up as a big company, and let me tell you we are the main corporate for all intermational airport in America, and since we have since years and years until now, Nortel Networks still the best number 1 good comunication in all the gates, main terminals, ground transportations, airlines ticket counner, FAA offices, restaurants, TSA security check point, and much more, we all using the Nortel Networks, Norstar Meridian telephones and Norstar Meridian systems and we love that service, and we decide not to change it at all, and for all our opinion in America, we prefer Nortel Networks that other companies, because we have to think about how old Nortel Networks still in the market, and how much Nortel Networks help us in everything that we need from them, as technical support, instructions, adknowledge and much more, come on guys Nortel Networks deserve another change in America and have them manufactures the same Norstar Meridian Systems and telephones as M7100 M7208 M7310 T7324 T7100 T7208 T7316e we using those telephones since years and years and years and ( how many telephones companies came everyday to my office door ofer us differents telephones, systems, highest technology, etc and we always said (no thank you my friends but we have Nortel Networks since years and we wanted still using them until GOD knows when) and we dismiss them completly, and we have to think about how many people in America and around the world using the same telephones like us, how many people thousands and thousands and millions and billions of people need technical support for those telephones and systems from Nortel Networks, all the Nortel Networks products has been the greatest products and durables and we proud of Nortel Networks for doing those telephones like that, special the M7310 telephones that is one of the most telephone that we using in America, so my personal opinion as a general manager and responsable for all happening with our international airport in America is we have to lift up again NORTEL NETWORKS better than before, and they can still manufactures all the telephones and system NORSTAR MERIDIAN TELEPHONES AND SYSTEMS, we the American nation we need Nortel Networks back to America, so is 100% difficult to eliminates and removing all our Norstar Meridian systems and telephones from our airports, so we NEED you understand us WE NEED WE NEED WE NEED WE NEED NORTEL NETWORKS BACK TO AMERICA AND BE NUMBER 1 TELEPHONE COMPANY IN USA, and honestly and sincerely Nortel Networks its much better that other telephones companies, and i know because we been talking and talking with more than 100 differents telephones companies every day and they ask us what kind the telephones that we using in all airport from USA, and we told them the truth, we you wanted know what they said about, wow amaising that's is a great telephones ok you have the best telephone that every companies,corporates, and agencies needed, even Avaya and Cisco told us the same thing so my advice is we need to open our eyes and see with the GOD's eyes how good how bright is Nortel Networks in America, we cannot let Nortel Networks going worse and worse and worse we have to support them we as a family we have to lifting up Nortel Networks and be with them forever so that my advise and our personal opinion, i said our becasue there a thousands and thousads of people agree with us, we are not the only ones even the school districts have those Norstar Meridian systems and telephones even the police stations, even the hospitals, even the senators of US, even in the court houses, even universities in US, even the colloges, even the government offices in US, everybody using Norstar Meridian telephones and systems, so this is our opinion, WE CANNOT THROW OURS NORSTAR MERIDIAN TELEPHONES AND SYSTEMS AWAY, SO we sorry but is long we can keep them we will using them after all, and we have to bringing back to America Nortel Networks once again and be permanent company in America as a number one NORTEL NETWORKS inc,