All About Nortel - Latest Comments in No AGM for You!

Re: No AGM for You!

less — Wed, 11 Feb 2009 10:05:22 -0000

... the company enjoyed big improvements in operating profits during 2008.

“We’re talking about a big number in the $50-million range. I decided not to take any bonuses for anybody for 2008.”

That is one big-ass number.

Shoudn't "We're talking... I decided" read "I'm talking... we decided" ?

Re: No AGM for You!

RealityStrikes — Tue, 10 Feb 2009 20:11:03 -0000

Exactly..... what a tragedy.

Re: No AGM for You!

Desk Jockey — Tue, 10 Feb 2009 18:10:28 -0000

Listen to the poor whiner whine. "Oh, but my seven-figure salary hasn't increased at all in the past few years like my buddies on Wall Street, and they also ran their companies into Ch. 11!"

Give me a break. And yet people think a few youtube videos are offensive. What this guy does and continues to do, and then defends is way more offensive.

If you thought the videos were just a piece of hilarious fiction, guess again, turns out reality is more absurd than anything anyone could imagine:

"Yes, let's start pampering the BoD with pure cold cash since NT stock is now worthless. Have to keep the BoD happy so I have free reign!"

Just pathetic.

Re: No AGM for You!

broadbandbill — Tue, 10 Feb 2009 12:32:02 -0000

Say/Do ratio is N/0...--bb

Re: No AGM for You!

broadbandbill — Tue, 10 Feb 2009 11:47:32 -0000

If only Z and his GEngsters knew just how much insight there is on this blog they would be in the mess they are in…--bb

Re: No AGM for You!

DerDoppelganger — Tue, 10 Feb 2009 09:46:09 -0000

RealityStrikes:

The truth is...while there was money being spent on something absolutely useless, I was getting hammered by taking cell phones away from field staff due to "across the board cost savings" senseless initiatives.

For the Customer, Nortel was the joke because "all other vendors can communicate, why you guys cannot?"

Get real.

Re: No AGM for You!

DerDoppelganger — Tue, 10 Feb 2009 09:42:51 -0000

"Charted it out to 3rd party users". Internal users? Why it wasn't returned back in 2007? Part of Nortel core business?

Re: No AGM for You!

DerDoppelganger — Tue, 10 Feb 2009 08:45:30 -0000

I love this blog....

Re: No AGM for You!

nortelgirl — Tue, 10 Feb 2009 06:03:00 -0000

it's not actually THAT surprising - MikeZ and his execs have not had any open dialogue with their employees since the filing (and for a long time before that, come to think of it), and now they're giving the same treatment to their shareholders.

Re: No AGM for You!

protospherical1 — Tue, 10 Feb 2009 03:08:08 -0000

At under a penny presplit I hardly think voting on bonuses would be appropriate this time.

Imagine answering questions on the 3 to 5 year plan, changing options to cash again, how the reverse split was to draw institutions, 20 dollar buying opportunities, Hackney's added responsibilities, employee severances or further layoffs, unable to sell any more assets, delisting, their suppliers agreements, how long they have before further decreasing or eliminating existing shares altogether, etc... endless... No wonder they hide and run.

They may not have to answer a thing in 90 days anyways.

I thought the security costs were humorous. A days to answer to shareholders almost 100% later is probably a lot cheaper than running the corporate jet for a month, so add costs as being yet another lie and doing what ever they want.

Re: No AGM for You!

Got_Out — Mon, 09 Feb 2009 22:16:36 -0000

The second jet was used by Joel (in his previous Opns role). Cant say for certain on 2008, but it was used at least for the 2nd half of 07

Re: No AGM for You!

RealityStrikes — Mon, 09 Feb 2009 21:06:46 -0000

A lot of, ummmm...., creative thought here. The truth is not as interesting....

According to the news article below, "The second plane was effectively grounded in 2007, although Nortel continued to hold the lease for the jet and charted it out to third-party users."

http://www.thestar.com/Busi...

Re: No AGM for You!

broadbandbill — Mon, 09 Feb 2009 21:00:35 -0000

strategically aligned, ying yang…--bb

Re: No AGM for You!

ERworker — Mon, 09 Feb 2009 20:12:29 -0000

Or to have to answer for their continual lies.

Re: No AGM for You!

less — Mon, 09 Feb 2009 20:04:28 -0000

Its only fair. To communicate, people need two phones, right? Transmit - receive, right? Tip and ring. One jet flies left to right, the other right to left. Give and take. Case closed.

Re: No AGM for You!

Desk Jockey — Mon, 09 Feb 2009 18:56:58 -0000

They have already flipped the bird at shareholders by telling everyone bankruptcy "was not imminent" and then almost immediately turning around and proving themselves to be liars!

So they don't need an AGM to let their feelings be known.

Re: No AGM for You!

Desk Jockey — Mon, 09 Feb 2009 18:44:41 -0000

Of course, need one for backup just in case the first one is undergoing maintenance. Can't have the CEO being late for a golf tournament!

Re: No AGM for You!

Desk Jockey — Mon, 09 Feb 2009 18:43:20 -0000

Air-Z. Specifically designed by Nike to head towards the CEO's head.

Re: No AGM for You!

Desk Jockey — Mon, 09 Feb 2009 18:42:18 -0000

Not surprising, they can't stand the heat of actual questions and most of the "Q&A sessions" are just some staged event to perpetuate some myth that management is loved for the decisions that they make.

This new video shows the truth of the matter: http://www.youtube.com/watc...
(Thanks to a reader for the idea)

Re: No AGM for You!

1derY — Mon, 09 Feb 2009 18:22:14 -0000

The questions at the Webcasts are staged and controlled by the PR folks...they are pathetic, butt kissing types. Even then, Z typicallly mumbled his answers and you can barely understand what he said....

I don't know how this man got the job in the first place. That brings us to the incompetence of the BoD - two politicians, a bunch of number cookers, and a couple of PhDs.

Re: No AGM for You!

NortelTragedy — Mon, 09 Feb 2009 17:46:10 -0000

And I was hoping to pick up a few pair of new shoes! Well, used, but new to me.

They have no spine. What could they say that would be insightful, meaingful or worthwhile of one's time, anyway? I'd prefer they simply go away and let real leadership take helm, even though it does appear the keel has broken in half.

Re: No AGM for You!

McBeese — Mon, 09 Feb 2009 17:41:41 -0000

They are worried about my aerodynamic shoes.

Re: No AGM for You!

McBeese — Mon, 09 Feb 2009 17:38:44 -0000

One for MZ and one for everyone else, I bet.

Re: No AGM for You!

broadbandbill — Mon, 09 Feb 2009 17:20:21 -0000

cowards pretending otherwise...--bb

Re: No AGM for You!

broadbandbill — Mon, 09 Feb 2009 17:19:34 -0000

Roese never stood a chance because he was a useless idiot hired by another useless idiot. Two of the worst hires in Nortel history...--bb