Tag Archives: bankruptcy

Nortel’s Hidden Gem: Blade Network Technologies

With the Nortel Garage Sale nearly complete, the last major assets on the table are the 50.1% stake in the Nortel-LG joint venture and the 3,000+ patent portfolio, which includes the much-coveted LTE patents. There is, however, another valuable asset that has escaped the spotlight: Nortel’s minority stake in Blade Network Technologies, which makes data center [...]
Posted in Financials | Also tagged , , | 31 Comments

U.S Trustee Balks at Bonuses

It looks like the incentive bonuses that Nortel wants to give to its remaining employees over the next two years may turn into a battle. According to BusinessWeek, acting U.S. Trustee Roberta DeAngelis is objecting to the $55.6 million of retention and incentive payments for 866 employees, describing them as “extraordinary”. The payments are part of a [...]
Posted in Financials, Legal Issues | Also tagged , | 37 Comments

A Note from Genband CEO Charlie Vogt

Now that the sale of Nortel’s carrier VoIP and applications business has been sold to Genband for $183-million, Genband CEO Carlie Vogt sent a note to the employees involved in the deal: Greetings from GENBAND An open letter to employees of Nortel’s Carrier VoIP and Application Solutions business On behalf of GENBAND, our management team and Board of [...]
Posted in Financials, M&A | Also tagged , , , | 51 Comments

U.S. Creditors to Battle Disability Deal

If you’re a Nortel employee on long-term disability, you really have to wonder if the world wants to play fair. After accepting a $57-million deal recently that will see their benefits expire in December, the 400 people on long-term disability had to watch Nortel  unveil plans to hand out more than $90-million in bonuses to 1,475 [...]
Posted in Financials | Also tagged , | 49 Comments

The New Nortel – Patent King?

For those of you wondering what the future may hold for Nortel, one scenario that keeps on gaining more credence is Nortel could continue to exist in some shape or form as a patent entity. With more than 3,000 patents within its portfolio, including 100 much-coveted LTE patents, Nortel could emerge from bankruptcy protection as a [...]
Posted in Technology | Also tagged , , | 19 Comments

What’s Nortel Business Services?

Just in case you were wondering why Nortel needs to employ 1,475 people over the next two years (and give them incentive bonuses), here’s some information about Nortel Business Services, which was created last year after the company decided to sell all of its assets rather than restructure. NBS was created to “facilitate an orderly transition [...]
Posted in Financials | Also tagged , , | 34 Comments
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