Chaos reigns Lost money on bad management Order shall return, absent nortel
Fellow
· 1 year ago
where r u based my fellow? BJ or GD?
oops
· 1 year ago
I don't think he is from China. He is a just China hater. NT employee in China got very little package compared with their North American workers. The job market is very tight in China. There is no reason for laid off worker happy there.
If one NT employee really hates company, will he disclose his site information? Of course not. If one posts negative comments as an employee in whatever division or site, or even name the division, do you really believe?
Clint
· 1 year ago
He isn't a China Hater. If he is indeed working in China the internet and all sites like this are monitored. He would not dare say anything critical of China for fear of communist reprisal. If you knew how to interpret you would see his message was a slam against NT. Nothing more, nothing less.
Clint
· 1 year ago
Yea...the chinese employee will probably run over to huaweii and tell them everything he learned and more....you know..illegal trade transfer secrets etc. In case you A** clowns have not been watching TV, listening to the radio and reading the paper ....stocks for everything are in the toilet. We are in a recession, and it is worse in America as opposed to Canada.
Ex-nortel
· 1 year ago
I don't think there's anything huawei needs "learn" from NT ... a few years ago, maybe ... Most of my career has been with NT, and one thing that disappointed me the most (a year ago) is the company simply doesn't care about technology any more ... i.e. people that understand and are willing to use/advance the technology.
Clint
· 1 year ago
You are right. The Chinese have mastered the art of deception, Fraud, No Quality of Service, cheating, lying and stealing. They are the masters and they don't learn that from anybody. Witness melamine, lead in toys, more contaminated food, defective and contaminated consumer products, product ripoffs with a chinese name on it, but it works worse than the original, spying, patent infringment and outright theft, internet monitoring and shutting down of controversial sights, over crowding, rampant pollution, chronic disease and death, not enough natural resources....Yep....There isn't much huaweii or China need to learn. They've invented plenty problems on their own and have alot of learning to figure out on their own.
Anonymouse
· 1 year ago
Double-Eww Tea Eff...
exnt2
· 1 year ago
well, ironic thing is a couple of months ago I said this stock was down to be on par with Tellabs and that it would go lower to meet Extreme, Ciena in market cap. It is now below Tellabs approaching Ciena which is 754 million. Extreme is at 250 million.
bye bye nortel. its now worth 18 cents pre conversion. very sad day.
South of the Border
· 1 year ago
The stock symbol is NT which stands for the New Titantic I hope Mike Z. has enough class to go down with the ship!!
.
Novice Investor
· 1 year ago
I believe that when Nortel goes below $2.00 per share the margin requirements change and there's probably margin calls everywhere. At $1.50 there's no margin at all .... is this correct ?
Observer
· 1 year ago
welcome to the global depression of 2008-2009. The only things going up are government bonds and gold. The longest period in the history of time of debt creation is now ending. What cannot be paid back will be defaulted on and take all equities with it.
Nortel-don't -go
· 1 year ago
Today is a great buying opportunity
goner
· 1 year ago
But not for NT stock, I'm afraid
Observer
· 1 year ago
that's what they were saying last monday when the Dow dropped 777. That worked out real well for buyers didn't it ?
Nortel-don't -go
· 1 year ago
If your definition of long-term is 1 week, you are correct that it hasn't worked out real well. In that case, you should probably stick to slot machines. However if you have any knowledge of how the stock market works, you will know that over time, stock prices will come back up...buy on bad news, sell on good...grade 12 economics.
Tongue.In.Cheek
· 1 year ago
I've pretty much changed my mind today on what I want to see from Nortel short term (180 days). I would like to see them go fully private so that they can re-structure their business to what makes the most sense for future market opportunities and growth prospects. I would like to see them stay private for 3 to 5 years so that they can improve their Balance Sheet and take the actions needed for long term success for the business and their employees.
exNorteler
· 1 year ago
I think we are way below the liquidation value of NT. So in the worst case scenario when all NT's businesses are sold off to different companies it will still bring a lot more than $1.80 per share. I think there is value in NT at this level.
Seeker
· 1 year ago
4.5 billions in debt and under a billion in market cap. Is this ration sustainable ?
Clint
· 1 year ago
Yet 3 billion in CASH, Assets and 8 to 10 billion in Sales annually. Where is the logic in all of this market cap stuff?
BeenThereDunnThat
· 1 year ago
The end is nearing. Light at the tunnel's end glows. Damn, another train.
Concerned
· 1 year ago
I am a long term Nortel employee working in the R&D dept. Although I try and keep my head down it's kind of difficult these days with all of the doom and gloom going around the office. The general sense at Nortel is one of concern - more so now then ever before. I of course need a job (family and bills to pay), but I know that I will find another job if required.
Mike Z certainly started his venture with much optimism, and up until recently things were going as planned. Much has changed in the last few weeks, but more than anything, is the feeling that we might just not make it. Quite sad, especially considering all of the years and hard work I have put into this place. I'm such a Nortel die hard that my friends actually joke that I bleed BLUE !!
It seems as if the people I work with, and around, almost expect the doors to be closed shut any day now, or, show up to work with a big white notice on the door. The general sense of pessimism is what worries me most - its' pervasive, and makes it difficult to focus on the job at hand.
Just thought I would share with you readers what it's like being in Nortel LAND these days. Not a pretty picture. People around me think it seems almost out of control, and not fixable.
I guess you can say - I'm hoping for the best, and expecting the worst.
Nortel watcher
· 1 year ago
Concerned, Personally, I would like this whole thing to be a bad dream where we all wake up and see the stock treading from the mid-teens to the high 20's on its way to the low $30s when Mike Z took the CEO reins.
When you say in the same paragraph "...up until recently things were going as planned.." to "..the feeling we might just not make it." says a lot about the rank and file not seeing it coming.
But the writing was on the wall...I'm referring to nobody in the executive leadership buying shares except for those couple of well publicized purchases like Z's million dollar investment a year ago. I just couldn't believe Z saying $19 was a buying opportunity and none of his EVP's or division presidents following suit. I'm referring to purchases above those required by their contract.
Hang in there...I hope you make it.
Another Nortel Watcher
· 1 year ago
Concerned, you express your pain well.
I recommend three things:
1. Keep working your ass off. The cabinet has put the company into this position but if the employees give up, the company is doomed for sure.
2. Start looking for another job. You don't have to leave, but it's always good to have choices.
3. Start calling out your management. Don't accept the bs. If you find yourself in a general forum, ask these questions:
i) Why have we not brought in any industry talent at cabinet level to replace those who have left? GE talent may be good for operations but it doesn't grow the business. John Roese is just a chip guy and George Riedel is an optical guy and Nortel is dumping that business now.
ii) Why - after 3 years - do we not have a solid growth strategy that we're executing on? Who dropped the ball? No excuses.
iii) All of the executives are required to own an amount of stock that is based on their salary amount. All of them - including MZ - must now be out of compliance given decline in Nortel stock price. Should we expect to see a lot of executive stock purchases or will the executives resign before being dismissed for non-compliance?
Nortelhand
· 1 year ago
concerned,
Don't stick your head up, you will just be a target. Remember how Mike Z treats people that don't agree with him and that will flow down hill. Get your cv out, it can't hurt. Nortel may or may not go away, but you can start looking. Keep your technical skills up and be ready to relocate if necessary, this goes for everyone in todays job market.
exnt2
· 1 year ago
keep your chin up buddy. I was in the same situation but I took off - could not take the crap anymore. i had the nortel tattoo on my chest but after years of listening to management bs with no accountabiltiy, I made the decision that there is no point continuing.
if you get the option to leave take it but until then keep going. it is negative inside and although they say misery loves company, talk to your friends about it to let it out. its impossible or even detrimental to keep it all inside.
I would disagree on working your ass off. just do your job but nothing more. working your ass off does not work in nortel because there are a lot of people who are sharks who will take credit for what you do.
dont waste your time on management. they will not answer or be accountable. that would only send up a red flag on you. so it depends.s if you want the check then rock the boat, stir the pot - they will get rid of you. if you want to stay, then keep going under the radar with no excuses for someone to point out problems in performance.
one thing you absolutely must do is plan your finances. if you are strong there then you are prepared for whatever comes your way. my formula is if you are ready for the worst then anything better is still hlf glass full and positive. bonus if its money. do not waive or defer any payments to next year. cash out in full if you need to.
stay positive.
protospherical1
· 1 year ago
Australian and Asian markets setting the stage for another bloodbath yet tomorrow. (Tuesday)
Analysts on TV tonight said retirees with shorter term needs and outlook need to sit down with financial advisor immediately to discusstheir options and those with a longer term horizon. like a decade or more should just hang in there as markets rebound';.referring to the broader markets who lost 36% since their peak this last June , and certainly not Nortel that dropped from 20 to under 2 in approximately a year.
The most pessimistic at the time, Ross Healy, warned a while ago that Nortel could revisit its double bottom in uncertain economic climate and the perfect storm has certainly arrived as it trades well below half that that faced with all sorts of new compound and catalyzing issues to raise enough genuine concern that most analysts have already thrown in the towel.
I fear this is another yesteryear darling destined to be gone in the not too distant future for endless cause, and to add unfortunately yet again would be an understatement.
more
· 1 year ago
Nortel has devalued so much that even activist investors like Carl Ichan won't touch it with a 10 metre pole. Who is keeping the board of directors honest?
exnt2
· 1 year ago
I have a strong feeling too that bankruptcy is around the corner. with just 2.5 billion in cash, 6+ billion in debt, floundering sales and almost zero stock value, creditors will start calling. nobody will rush to buy optical until nortel goes past tipping point when panic pushes valuation even lower. by then it will be too late.
My timeframe would be Jan-Mar 2009. by then nortel would have burnt through another 400 million in cash. stock would be under a buck.
All Comments
I know this will happed one day.
Give me package, let me go. hoho.
The damn company.
Chaos reigns
Lost money on bad management
Order shall return, absent nortel
If one NT employee really hates company, will he disclose his site information? Of course not. If one posts negative comments as an employee in whatever division or site, or even name the division, do you really believe?
If he is indeed working in China the internet and all sites like this are monitored. He would not dare say anything critical of China for fear of communist reprisal.
If you knew how to interpret you would see his message was a slam against NT. Nothing more, nothing less.
In case you A** clowns have not been watching TV, listening to the radio and reading the paper ....stocks for everything are in the toilet.
We are in a recession, and it is worse in America as opposed to Canada.
The Chinese have mastered the art of deception, Fraud, No Quality of Service, cheating, lying and stealing.
They are the masters and they don't learn that from anybody.
Witness melamine, lead in toys, more contaminated food, defective and contaminated consumer products, product ripoffs with a chinese name on it, but it works worse than the original, spying, patent infringment and outright theft, internet monitoring and shutting down of controversial sights, over crowding, rampant pollution, chronic disease and death, not enough natural resources....Yep....There isn't much huaweii or China need to learn. They've invented plenty problems on their own and have alot of learning to figure out on their own.
bye bye nortel. its now worth 18 cents pre conversion. very sad day.
I hope Mike Z. has enough class to go down with the ship!!
.
Where is the logic in all of this market cap stuff?
Light at the tunnel's end glows.
Damn, another train.
Mike Z certainly started his venture with much optimism, and up until recently things were going as planned. Much has changed in the last few weeks, but more than anything, is the feeling that we might just not make it. Quite sad, especially considering all of the years and hard work I have put into this place. I'm such a Nortel die hard that my friends actually joke that I bleed BLUE !!
It seems as if the people I work with, and around, almost expect the doors to be closed shut any day now, or, show up to work with a big white notice on the door. The general sense of pessimism is what worries me most - its' pervasive, and makes it difficult to focus on the job at hand.
Just thought I would share with you readers what it's like being in Nortel LAND these days. Not a pretty picture. People around me think it seems almost out of control, and not fixable.
I guess you can say - I'm hoping for the best, and expecting the worst.
Personally, I would like this whole thing to be a bad dream where we all wake up and see the stock treading from the mid-teens to the high 20's on its way to the low $30s when Mike Z took the CEO reins.
When you say in the same paragraph "...up until recently things were going as planned.." to "..the feeling we might just not make it." says a lot about the rank and file not seeing it coming.
But the writing was on the wall...I'm referring to nobody in the executive leadership buying shares except for those couple of well publicized purchases like Z's million dollar investment a year ago. I just couldn't believe Z saying $19 was a buying opportunity and none of his EVP's or division presidents following suit. I'm referring to purchases above those required by their contract.
Hang in there...I hope you make it.
I recommend three things:
1. Keep working your ass off. The cabinet has put the company into this position but if the employees give up, the company is doomed for sure.
2. Start looking for another job. You don't have to leave, but it's always good to have choices.
3. Start calling out your management. Don't accept the bs. If you find yourself in a general forum, ask these questions:
i) Why have we not brought in any industry talent at cabinet level to replace those who have left? GE talent may be good for operations but it doesn't grow the business. John Roese is just a chip guy and George Riedel is an optical guy and Nortel is dumping that business now.
ii) Why - after 3 years - do we not have a solid growth strategy that we're executing on? Who dropped the ball? No excuses.
iii) All of the executives are required to own an amount of stock that is based on their salary amount. All of them - including MZ - must now be out of compliance given decline in Nortel stock price. Should we expect to see a lot of executive stock purchases or will the executives resign before being dismissed for non-compliance?
Don't stick your head up, you will just be a target. Remember how Mike Z treats people that don't agree with him and that will flow down hill. Get your cv out, it can't hurt. Nortel may or may not go away, but you can start looking. Keep your technical skills up and be ready to relocate if necessary, this goes for everyone in todays job market.
if you get the option to leave take it but until then keep going. it is negative inside and although they say misery loves company, talk to your friends about it to let it out. its impossible or even detrimental to keep it all inside.
I would disagree on working your ass off. just do your job but nothing more. working your ass off does not work in nortel because there are a lot of people who are sharks who will take credit for what you do.
dont waste your time on management. they will not answer or be accountable. that would only send up a red flag on you. so it depends.s if you want the check then rock the boat, stir the pot - they will get rid of you. if you want to stay, then keep going under the radar with no excuses for someone to point out problems in performance.
one thing you absolutely must do is plan your finances. if you are strong there then you are prepared for whatever comes your way. my formula is if you are ready for the worst then anything better is still hlf glass full and positive. bonus if its money. do not waive or defer any payments to next year. cash out in full if you need to.
stay positive.
Analysts on TV tonight said retirees with shorter term needs and outlook need to sit down with financial advisor immediately to discusstheir options and those with a longer term horizon. like a decade or more should just hang in there as markets rebound';.referring to the broader markets who lost 36% since their peak this last June , and certainly not Nortel that dropped from 20 to under 2 in approximately a year.
The most pessimistic at the time, Ross Healy, warned a while ago that Nortel could revisit its double bottom in uncertain economic climate and the perfect storm has certainly arrived as it trades well below half that that faced with all sorts of new compound and catalyzing issues to raise enough genuine concern that most analysts have already thrown in the towel.
I fear this is another yesteryear darling destined to be gone in the not too distant future for endless cause, and to add unfortunately yet again would be an understatement.
My timeframe would be Jan-Mar 2009. by then nortel would have burnt through another 400 million in cash. stock would be under a buck.
http://74.125.113.104/search?q=cache:sAUiZWJTYD...