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Step 2 will be to sell Enterprise. There is nobody in Enterprise who knows how to grow the business yet it still has some value, so it will be next on the block.
Step 3 will be to sell the remainder of the business for the value of the Carrier installed base.
It's possible that steps 2 and 3 will happen together, depending on who the buyer is.
One thing is certain - there is no way that the current board and leadership team can turn this disaster around.
MEN gone. Actually it never made sense to have it as a separate business unit and cloning entire product lines. That was Mr. Moron's thought process to get himself promoted to President. Carrier is dead with almost every wireless business decimated. Enterprise is flat but in todays world its going to be a done deal so it will go to Siemens or vice versa with a spin out.
Past few years Nortels just been doing JVs so pretty much the writing was on the wall. It can finally call itself NOTEL because it has nothing.
finally you must have heard the crash after the right angle turn. this is the way nortel. business made simple - yup drive it into the ground for a fire sale to make it simple. hopefully Zzzzzz can manage whats left of the business. I hear he is kissing Steve Balmers behind for a job at Microsoft.
Maybe you are still hung up from drinking the kool-aid a few years ago and lost a wack of cash but that is no reason to take it out on the hard working front line employees. We did not force you to buy stock.
What in the world is wrong with you.?
If you lost a lot of money on Nortel and hate the company, hate the CEO, hate the Board, hate the Execs ... I can understand that. But to call the employees suckers immediately invalidates anything meaningful you may have been trying to express. I was a proud NT employee in the 90's and have kept in touch with many people in the company. They're like most people - fathers, mothers, ... most work hard, do their best, try to support their families and save some for later on in life. You are a complete $%^&*)(*()*()*()E idiot to reduce them to "suckers" based on their employer.
I also meant to wake up people to reality cuz many still believe in turnaround, improvement, change. just CEO hooey. try get your packages before this ship does a belly flop and ends in a graveyard of busted companies. if you still believe the bs, the advice to buy shares because its a good deal then dont cry later.
Chapter 11, is that possible for a Canadian company? I thought that only applies to US companies.
ouch.
To those good and HARD workers still inside - there IS life outside, and you can make it - just make the effort and push off the rail. Leave them before they label you downsized, optimized, or whatever dumbazz HR label they come with.