All About Nortel - Latest Comments in A CEO Who Shares the Pain

Re: A CEO Who Shares the Pain

exnt2 — Thu, 04 Dec 2008 17:46:15 -0000

Z is not even worth paying 1 nortel share at 51 cents. he creamed the business in 3 years, something no Nortel CEO has done in over a 100 years.

sounds awful does it not. we can play the same marketing game he does.

Re: A CEO Who Shares the Pain

exnt2 — Thu, 04 Dec 2008 17:42:41 -0000

you and all who you can find should offer publicly to put your entire salary on the line and work for $1. only then will management Director and above get the hint and take a pay cut. until they are humiliated, they will only fill their pockets, thick headed and thick skinned as they are.

Re: A CEO Who Shares the Pain

exnt2 — Thu, 04 Dec 2008 17:39:34 -0000

6 figure salary they get is puny when compared to what the top dogs get. Its pocket change. Compare a line manager at 120000 to 500000 for a board chairman attending 16 meetings likely 1 hour each, of which at least half must be going thumbing his little corporate Blackberry.

On question 8 below NT low price is what NT is worth. It has nothing to do with AAN, propaganda, haters etc. Going by the same thought, if we were all to do a song and dance on NT, do you think it will go back to $30. Come on. NT is worth 0 and many analysts have said so.

What can you say about a company that generates over 10 billion but not a single cent in profit going to the bank?? And people think AAN is responsible?

Only management and the board are responsible. You cannot blame this on economy, shareholders, media, NT employees, customers. If you did, there is no need for management or a board.

Re: A CEO Who Shares the Pain

puddintane — Thu, 04 Dec 2008 10:26:55 -0000

The plaintive wail of a currency-free global village emerging from this one last, final secular bear brought about by oil-driven capitalism is a load of, well, bull.

If the working masses were indeed smart they'd finally develop their own metrics to grade their bosses' performance and the license to adjust their salaries accordingly. Establish a meritocracy. Wouldn't it be fun to pay Mike Z solely in NT stock these days?

But no, the oppressed proles actually pay to join unions replete with bosses, eagerly vote for the vague possiblity of mere "change", which, hello, isn't synonymous with "improvement", and buy bumper stickers to advertise how much they care and how smart they are.

Re: A CEO Who Shares the Pain

Clint — Thu, 04 Dec 2008 08:35:30 -0000

Points 1-7 apply directly to most of current (not all) NT managment.
At least the ones who have been there 10 years or more.
But I would not call six figure salaries puny in their cases.

Re: A CEO Who Shares the Pain

Another Nortel Watcher — Thu, 04 Dec 2008 02:58:04 -0000

My comment was quoted in the G&M so he couldn't delete it without revealing his cowardice. :-)

Re: A CEO Who Shares the Pain

Desk_Jockey — Thu, 04 Dec 2008 00:57:17 -0000

Couldn't have said it any better myself. Though, maybe:

8. Do you blame NT's low stock price on media bias, propaganda and haters/AAN?

Re: A CEO Who Shares the Pain

exnt2 — Wed, 03 Dec 2008 23:00:56 -0000

Z pays himself first. Then his dream team. Anything left VP and Directors. The rest of you get in line if any crumbs are left.

The board gets paid. Harry Pearce gets $500000+ for 16 board meetings a year.

Don't you people get it. It is Business Made Simple. What are you people whining about? Why do you deserve more? Take the quiz:
1. Are you part of the old boys club?
2. Did you attend the same sleazy school these people went to?
3. Do you sell yourself more than what you do?
4. Do you take credit for others?
5. Can you spin and downplay negative news?
6. Can you reward your friends even they are incompetent?
7. Do you have to support a high maintenance family?

If you answered No to any of these questions, then you deserve your puny salary.

Re: A CEO Who Shares the Pain

Desk_Jockey — Wed, 03 Dec 2008 19:20:59 -0000

You're right. If they didn't do anything, things would probably be better. Problem is, they DO do stuff. It just ends being the wrong stuff.

Re: A CEO Who Shares the Pain

less — Wed, 03 Dec 2008 11:24:17 -0000

Imagine that.

Re: A CEO Who Shares the Pain

Tired — Wed, 03 Dec 2008 10:03:46 -0000

Despite what you think, you are not enlightened, clever, or elevated above anyone else. Please, however, continue your childish rants. And make them as transparently anti-USA as possible - I don't think you're trying hard enough.

Re: A CEO Who Shares the Pain

Another Nortel Watcher — Wed, 03 Dec 2008 09:35:20 -0000

Btw... it's not just a lack of leadership that the Nortel employee base suffers with, in many cases it's incompetent active leadership. That is usually far worse.

Re: A CEO Who Shares the Pain

puddintane — Wed, 03 Dec 2008 08:06:01 -0000

Lets recap:

Nortel was a century-old institution founded on the basic tenets of modern socialism - fairness, equality and opportunity for all, for free - steeped in ancient culture and therefore ever supportive of the ideas of evolution and progressive science... but rather predictably brought to the edge of financial ruin within 3 years by a capitalist American.

To the average American who judges the "worth" of a human life solely by their bank accounts Nortel looks like dead meat, but it has in fact moved forward, well into Aquarius, by reaching out to the re-emerging global village of yore which values love, caring, cultural and intellectual exchange far above and beyond empty monetary gain and earthly possessions.

Imagine there's no heaven, no hell. Imagine all the people living for today. Imagine there's no countries, nothing to kill or die for.
And no religion too. Imagine no possessions, no need for greed or hunger. A brotherhood of man. Imagine all the people sharing all the world.
I imgaine I see the the global paradise that surrounds lower North America.

Said former US messiah Jimmy Carter: "In many countries around the world — my wife and I have visited about 125 countries — you hear John Lennon's song 'Imagine' used almost equally with national anthems."

Millionaire songwriter John Lennon cautioned: "The Buddhist says, 'Get rid of the possessions of the mind.' Close enough. For example, Nortel's friends and partners, the Chinese, don't hate Tibetian Bhuddist the Dalai Lama. They merely disapprove of his persistant materialism. Its all a mere misunderstanding to the uncultured roundeye languishing in his Wild West past.

I imagine the secular bear will move Nortel will go private, keep everyone on the payroll at *equal* wage and with *full* benefits, unless they choose to seek employ elsewhere. I imagine nobody would.
Nortel will forthwith only barter goods and services with like-minded villagers, forevermore unsullied by the ruinous temptation of evil Mammom.

Mike Z, too, will someday unload the possessions of his mind. In a green Z-mail, I imagine. Maybe even pen a song on recycled stock made from discarded dollar bills - "greenbacks". How poetic. Greenback, back to green.

I imagine the Children of Nortel will one day engineer an airplane or spacecraft without (the grossly misinterpreted western version of an Indian) caste-like first-class section, but in which every passenger has a window seat next to the pilot, who, like his assengers, flies for free because he wants to sit among the noble masses and learn about each and every one.

Keep on imagining,

Jim Jones, jr

Re: A CEO Who Shares the Pain

Desk_Jockey — Tue, 02 Dec 2008 22:42:48 -0000

I agree wholeheartedly with you. It is astounding the level of incompetence we are witnessing this very moment. The executives and GEniuses like to talk fancy and in big terms, but when it comes to down to actual deliverables, they unfortunately fail miserably. They walk about wanting to "incubate" innovation but all they've done is to destroy it.

As for their pay levels... there's not really a great solution. If they were paid 75% stock and 25% cash, there would be a great incentive for them to cook the books again, ala the criminal Frank Dunn and then Nortel would be in even worse shape, perhaps already defunct. However I agree that their continued astronomical salaries in contrast to the sacrifices other employees must make is a travesty.

Re: A CEO Who Shares the Pain

broadbandbill — Tue, 02 Dec 2008 22:23:09 -0000

Be the pro that you are and keep on plugging...--bb

Re: A CEO Who Shares the Pain

notsure — Tue, 02 Dec 2008 22:06:19 -0000

Well said. But what can an employee do? N-O-T-H-I-N-G!!!
All we can do is watch and wait until our number comes up.
Any other suggestions?

Re: A CEO Who Shares the Pain

broadbandbill — Tue, 02 Dec 2008 21:37:00 -0000

John Roese erased my blog post on his farewell posting proving, once again, that ZAFIROVSKI HIRED NOTHING BUT A BUNCH OF COWARDS!!!!!

John Roese - the pen will always be a weapon against cowards like you….--bb

Re: A CEO Who Shares the Pain

broadbandbill — Tue, 02 Dec 2008 21:25:56 -0000

Actually, that was more like two dollars, Candadian of course :)...--bb

Re: A CEO Who Shares the Pain

broadbandbill — Tue, 02 Dec 2008 21:24:06 -0000

As I have stated many a'times before, Nortel's workforece are the real World-Classers...--bb

Re: A CEO Who Shares the Pain

Me — Tue, 02 Dec 2008 21:23:01 -0000

Not to sound like another one of the disgruntled ex-employees (Many of them) but I for some reason am still sticking it out inside Nortel. Not because I think the company will be around in a few years but just cause I like what I do.

However, one thing that P#&$&#ES me off is the executives. They say they LISTEN to customers, THEY DON"T!. They say they listen to employees, THEY DON"T. They say they listen to the way the market is moving, THEY DON"T.

Not to go into specifics but it just shocks me how greedy these guys are. They make really stupid decisions, then they think they should be rewarded for it.

If it was up to me, everyone at a executive level should be paid 75% stock and 25% salary. If they F*#*DK up, then they lose money. Simple math..... The guys in the treaches listening to the customer complain about product quality and support can't do anything about it but complain, complain, but noone listens.

Anyhow, I'm done with my two cents :)

Re: A CEO Who Shares the Pain

broadbandbill — Tue, 02 Dec 2008 21:21:40 -0000

Thank you; just stating the obvious...--bb

Re: A CEO Who Shares the Pain

broadbandbill — Tue, 02 Dec 2008 21:20:55 -0000

Agreed! Nothing wrong with capitalism but geedism is evil..--bb

Re: A CEO Who Shares the Pain

Titus Antoninus — Tue, 02 Dec 2008 21:16:02 -0000

You're basically correct that the BOD could never find somebody else to take Mike Z's place, although I woud like to add a little more detail:

1. No credible candidate from outside Nortel would be willing to risk his career by stepping into such a train wreck of a company.

2. The option of promoting internally from the 2nd executive tier, as Nortel has done in the past, has little value since this tier is occupied by Mike Z's lackeys, e.g. Joel Hackney.

Re: A CEO Who Shares the Pain

Clint — Tue, 02 Dec 2008 20:28:33 -0000

Nortel is the old boys club through and through.
From the useless Board of Directors, to incompetent executives, down to useless-incompetent managers (they get two lumps).
The place will never change.
It will die while the leeches hang on and the egotistical managerial losers reward the suck up employees who act like their disciples.
Doesn't matter how good who you are.
Matters how brown your nose is.

Re: A CEO Who Shares the Pain

less — Tue, 02 Dec 2008 18:47:27 -0000

Have you ever protested the use of the term "Bushitler"? Is it not somewhat disconcerting that the abovementioned word's most ardent users have just successfully elected their favorite president into office, dubbed the Messiah of the New Age?