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Tag Archives: Canada
Why Did Nortel File for Bankruptcy Protection?
With the one year anniversary of Nortel’s bankruptcy filing happening in a couple of weeks, something I’ve been wondering about recently is why Nortel bothered filing for bankruptcy protection in the first place. At this time last year, Nortel had about $2.5-billion of cash and some assets that could have brought in some much-needed financial [...]
Dear Mr. Flaherty and Mr. Clement
A letter from the Nortel Retirees and former Employees Protection Canada to Minister of Finance Jim Flaherty and Industry Canada Minster Tony Clement: A Christmas Tale – December 2009 Gentle Ministers Clement and Flaherty, Christmas is a kind time, of ethical deeds, reconfirming our values and righting the wrongs inadvertently committed. This Christmas, Dear Ministers, [...]
Quebec Moves to Save Pensions
At a time when the Canadian government is still trying to decide what to do, the Quebec government said today it will attempt to save the pension of 3,750 Nortel employees in the province if their pensions are terminated while Nortel is under bankruptcy protection. Regie des rentes du Quebec could take control of the [...]
Avaya Deal to be Reviewed
It looks the federal government has been listening to the growing number of critics who have been chirping away about how foreign buyers are picking up Nortel’s assets with little opposition from Ottawa. It may explain why the federal government has decided to review Avaya’s $915-million purchase of Nortel Networks Corp’s enterprise business – a [...]
Nortel Didn’t Need More Protection from Foreigners
It’s really interesting to see the growing amount of political huffing and puffing surrounding the demise of Nortel. The closer Nortel gets to extinction, the more enthusiastic that politicians get about proclaiming about how things could have been different if only better decisions had been made. The latest example is federal Liberal leader Michael Ignatieff, [...]
No Review for You, Nortel