All About Nortel - Latest Comments in A New, Different and Small Nortel

Re: A New, Different and Small Nortel

bankrupt — Thu, 18 Sep 2008 12:22:56 -0000

hey guys cool off. if it struck a sentimental chord then apologize. I meant it in a lighthearted way because I was there too. but nobody gives a damn about you whether you work hard or not. nobody gives a crap on how quickly you developed a feature or a customer you helped. management only takes care of themselves.

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.

Re: A New, Different and Small Nortel

Vested Interest — Thu, 18 Sep 2008 10:10:24 -0000

Nasir and others, have any of you ever heard Mike Z reference Jim Collin's book 'Good to Great'. I've been to see Mike Z make two presentations where he spoke extensively about this book being almost as important to him as his bible. I was interested so I bought a copy. Collin's identified 10 companies that have attained 'enduring greatness' by doing 10 things. Mike Z has been 0/10 on these so this all talk CEO probably hasn't read the book and I'm sure with Mike Zs track record I bet Jim Collins wishes Mike would stop mentioning his name.

Re: A New, Different and Small Nortel

Nasir Khan — Thu, 18 Sep 2008 03:52:28 -0000

I must say the CEO was very irresponsible, arrogant and inflexible. Until Aug 1st he kept on insisting that revenues will grow by low single digits. Being an invester I have learnt my lesson. Don't trust big mouth CEOs. Also he had no strategic vision for the company. Just cost cuts with no consideration to balance sheet or top line growth, keeping legacy businesses and now decision to sell his top technogy MEN.

Re: A New, Different and Small Nortel

Observer — Wed, 17 Sep 2008 18:03:59 -0000

Its been over for a long time. It just took the popping of the largest credit bubble in history for it to finally be really over. Nortel won't be the only company its over for. I've found Nortel to be a pretty good leading indicator for the broader economy. This time will be no different.

Re: A New, Different and Small Nortel

smilin_bill — Wed, 17 Sep 2008 16:21:09 -0000

Surprisingly they have managed to roll this over, not sure what the repayment schedule looks like, but 2011 is the next year they have a large chunk of debt coming due.

Re: A New, Different and Small Nortel

RAT-Hole-Hater — Wed, 17 Sep 2008 15:41:14 -0000

R-A-T,

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.

Re: A New, Different and Small Nortel

resigned_in_2005 — Wed, 17 Sep 2008 15:20:21 -0000

Yeah Norhell, that's right - continue to pay for dolts like Owens while you once again start walking people out the door.

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.

Re: A New, Different and Small Nortel

smilin_bill — Wed, 17 Sep 2008 15:13:10 -0000

700M in convertible notes that come due this month.

ouch.

Re: A New, Different and Small Nortel

frontline — Wed, 17 Sep 2008 14:45:49 -0000

Calling Nortel employees suckers? That is pretty low, we work hard day in and day out. Many of us are Canadians, earning a decent wage, paying taxes, supporting the local economy. I have to question your state of mind that you would wish misfortune upon us....

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.

Re: A New, Different and Small Nortel

just_another_nt_employee — Wed, 17 Sep 2008 13:43:23 -0000

Think the genious is the same. It's very likely that Nortel will experience the same end as Bear and Lehman. A look at today's statement plus a look in the old balance sheets show that Nortel is facing a serious cash problem. If they don't get MEN sold for a reasonable price they won't be able to pay their credits and won't get now ones.
Chapter 11, is that possible for a Canadian company? I thought that only applies to US companies.

Re: A New, Different and Small Nortel

right-angle-turn — Wed, 17 Sep 2008 12:53:37 -0000

Nortel employees. stand in line to face a firing squad. your regime generals will walk away with some nice packages while you are left out to hang and dry. suckers!

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.

Re: A New, Different and Small Nortel

goodbye — Wed, 17 Sep 2008 12:48:33 -0000

bye bye. finally the nails for the coffins have started arriving. any employees still beleive the executive s*** that it will turnaround. still drinking that cool aid. ha. its spoiled rotten by now.

Re: A New, Different and Small Nortel

exnt2 — Wed, 17 Sep 2008 12:46:43 -0000

Total disaster. Mike Z has done what no Nortel CEO has done before. What a frig'g jackass. Thanks for killing a Canadian icon. You must be a Cisco plant Mr. Z.

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.

Re: A New, Different and Small Nortel

Slapped — Wed, 17 Sep 2008 12:28:21 -0000

It's over.

Re: A New, Different and Small Nortel

Another Nortel Watcher — Wed, 17 Sep 2008 11:40:34 -0000

Today is step 1 of 3.

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.

Re: A New, Different and Small Nortel

exnt — Wed, 17 Sep 2008 11:04:51 -0000

So after 3 years of his execs telling him the status quo was no good, he suddenly sees the light??!! I can count at least 10 execs who quit because they thought the company was on the wrong track strategically, so their position was no secret. The sales force has been saying the same thing for years to Mike Z. Now, after wasting 3 friggin years trying 6 sigma, he finally realizes that little Nortel cannot compete in all product lines with Cisco, Ericsson, Huawei, Nokia, Alcatel????? This guy makes the CEOs of AIG, Lehman Brothers, and Bear Stearns look like geniuses!