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Tag Archives: pensions
Nortel Strikes Deal with Long-Disability Employees
One of the more troubling offshoots of Nortel’s financial demise has been the uncertain fate of about 400 employees on long-term disability. Part of the problem was that the plan was being funded by Nortel rather than an external entity. As a result, it was unclear whether these employees would continue to receive their benefits [...]
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, take the [...]
While Rome Burns, More Bonuses for Execs
Update: CBC (television) will be running a report tonight on its investigation into 72 Nortel executives getting additional bonuses.
If the Nortel soap opera could turn any more bizarre, the CBC has obtained documents that indicate Nortel launched a new compensation plan earlier this Fall that will see executives receive $7.5-million in addition to their 2009 [...]
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 pension [...]
Nortel’s Sweet CEO Pension Packages
As Nortel’s financial implosion starts to claw away at the pensions of former employees, I thought it would be interesting to take a look at the pension packages given to recent CEOs. It is important to keep in mind that while the pension payments seem high, it’s probably not out of line with pensions given [...]
NRPC Disappointed with Judge’s Decision