Tag Archives: Mike Zafirovski

Nortel’s $7-Billion Bankruptcy Booty

By Mark Evans | Published: July 2, 2011
Three cheers for George Riedel! Who’s George Riedel and why should we be excited? Well, he’s Nortel chief strategy officer, who has overseen the company’s assets sales after CEO Mike Zafirovski abandoned ship in the wake of the disappointing and puzzling decision to surrender rather than fight on. Now that the sale of Nortel’s 6,000+ [...]
Posted in Executive Suite, Financials | Also tagged , | 16 Comments

Nortel Goes Out With a Bang

By Mark Evans | Published: July 1, 2011
If you’re going to close the door, why not do it with a huge bang? Nortel certainly did it in spades with the auction of its 6,000+ patent portfolio that raised a whopping $4.5-billion. The winning bidder was a consortium that includes Apple, EMC, Ericsson, Microsoft, Research In Motion and Sony. It was interesting to [...]
Posted in Financials | Also tagged , | 13 Comments

Happy Anniversary, Nortel!

By Mark Evans | Published: January 13, 2010
Hard to believe but it’s nearly been a year since Nortel filed for bankruptcy protection – a move the company vowed would put it on more solid footing even if meant shedding thousands of employees and non-core assets. Unfortunately, this scenario failed to materialize as Nortel fiddled away for five months before deciding that selling [...]
Posted in Financials | Also tagged , | 45 Comments

Why Did Nortel File for Bankruptcy Protection?

By Mark Evans | Published: January 4, 2010
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 [...]
Posted in Financials | Also tagged , , | 48 Comments

Tasman Networks: The Beginning of the End

By Mark Evans | Published: December 30, 2009
There are lots of reasons to explain why Nortel has crumbled in recent years to near-extinction but if you had to pinpoint a key moment in its demise, it might be the acquisition of Tasman Networks, which was announced on Dec. 27, 2005. The deal happened a few months after Mike Zafirovski had taken over [...]
Posted in Financials, M&A | Also tagged , , , | 15 Comments

The Demise of Nortel

By Mark Evans | Published: December 3, 2009
Network World’s Jim Duffy has a story looking back on the demise of Nortel in 2009. In retrospect, it still seems shocking that one of the world’s leading telecom equipment suppliers is being unceremoniously dismantled after filing the bankruptcy protection. The decision by the board and senior management to sell everything, including the kitchen sink, [...]
Posted in Financials | Also tagged , , | 33 Comments
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