DISQUS

Clint · 1 year ago

Manley is a loser.
This guy came on board from the lieberal party of Canada walking around the halls like he would make a difference.
The liberal party did NOTHING for Nortel and having somebody like him in there, totally clueless is likely a prime reason why the BOD is out to lunch.
Permanently.

Another Nortel Watcher · 1 year ago

The board is just as out of touch with the industry as Mike Z is. NONE of them have board seats because of accomplishments or vision in the industry that Nortel is a part of. Therein lies the problem. The board, like the CEO, do not have adequate background to make quality strategy or hiring decisions. Perhaps things would have gone differently if the board contained esteemed or former members of Intel, Microsoft, Wipro, etc..

I guess that means the shareholders are at fault for this mess, since they voted in the board.

Dissappointed Shareholder · 1 year ago

Selling MEN and giving the proceeds to Hacker in Enterprise....yep that makes a lot of sense.

Lonely Ops Guy · 1 year ago

LOL.....You hit the nail on the head.

Mickey · 1 year ago

Isn't this the 'ol boys club that gave Owens $100K/mo pension after 18mo of asleep-at-the-switch service (before he decided to work w/ Huawei) and gave Z-man a 22% raise this year for a job well done?

Pure incompetence, one and all...

NewBlue · 1 year ago

"As much as Zafirovski and his senior executives have put together the strategic plan to resuscitate Nortel..."

The board has total blame. As I posted in response to an earlier blog entry, their failure wasn't necessarily in putting Mike Z in charge; it was from not removing him when it became obvious that Z's plan was failing/a failure.

The plan presented by Z that the board apparently approved should have included (if it didn't) some serious goals that would have had to be met. It should be fairly obvious to anyone who is even remotely observant that Z's plan was not working. The board either turned a blind eye to the failure of the executive team or is complicit in it. In either case, they must be held ultimately accountable.

Problem is, there is no real accountability. Everyone (including the company executives) will take their financial perks and payouts and bail, leaving 30,000 people unemployed and a once proud Canadian company in shambles.

bankrupt · 1 year ago

most of them were good at bankrupting companies or running them into the ground. they get paid big bucks to just meet once in a blue moon. have no idea about the business. timeshared across other boards. some are losers with nothing else e.g. manley so being on a board look important.

30,000 employees should walk into the board room and kick each one of them out. people are stopping to work or taking it easy. so Notel or Nortanic or N*whatever is a reality.

Also not the arrogance from not accepting blame but putting it on the economy or previous health of the company. why did you hire an idiot, pay him $30million, nice perks for 2 years to do nothing.

rolly reader · 1 year ago

I once talked to a senior exec about the board after he made a presentation. His comment was that the board "are a bunch of potted plants".

investment-banker · 1 year ago

Z said they used an investment banker. would it be someone from morgan stanley, aig, citibank, merryl lynch or lehman. figures.

Kevin · 1 year ago

MEN is better off getting far away from the current executive team based on their dismal results and decisions over the past three years

wow · 1 year ago

Wow - maybe getting some people on the board under 85 would help make NT a little more dynamic...