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1. Close ALL ‘Centers of Excellence” outside US/Canada (including CoE in Mexico).
2. Ensure all NT Employees participate in ‘Preferred X’ equity plan, including the ones that will probably get cut during the restructuring phase (It’s not their fault, you fricking morons!!!!).
3. Reduce ALL Executive Management salaries to US$1/per year plus decent equity plan; let them taste what REAL risk is like (walk-the walk and see if you are men enough!!!). Travel vouchers for Greyhound Bus only! Air travel at their expense.
4. Replace everyone on the BoD by an oversight committee that includes current and former Rank ‘n File Employees (e.g.: Desk_Jockey, Another_Nortel_Watcher, Nortel_Gal, Many, others - even Proto!).
5. Take out the mama’s boys that can’t handle this (e.g.: Hackney) and leave them in the frozen tundra with one day’s survival supplies. Humanity will be much better off, either way. Oh yeah; get a camera crew to do a reality show called: “BALLS; Can’t Freeze What You Don’t Have!”
6. Contact bb for next steps including FREE consulting services to ALL NT employees.
Fricking simple…--bb
Your wit is matched only by your capacity for keen observation!
Now if only your words would come true...
This morning it went from 57% no to 72% yes.
Apparently the same IP can vote more than once and some nutso spent all afternnon accounting for most of the 1200 votes under the yes vote.
The Globe & Mail ran an identical poll and found 88% of the respondents said NO to a bail out for Nortel.
Check it out.
The fact that the surveys are not accurate because of the access of biased respondents (employees, ex-employees, investors, etc) was different. It seems pretty obvious to me that employees got a lot of access to the CBC poll while other people (maybe ex-employees or comptetitors or simply real people) got access to the other poll...
That doesn't mean in any way that someone voted 500 times.
I forgot to mention that not everything is a conspiracy ;)
As maligned as you have been, I truly appreciate your mind; great investigative journalism…--bb
BUT this should be done IF and only IF some conditions are met first.
IMHO,
#1, preserve and protect Canadian jobs.
#2 dismiss executive management without any further $ to them in any way shape or form.
Even then, is it worth absorbing the debt? What is (would be) the future ROI, assuming it's a loan or an investment? I'm afraid it may be too little, too late.
Is Nortel planning to chuck 'em and hire cheap young-buck grads with cutting edge skills who don't know from benefits, and are more open to 6 Sigma? Will they again outsource all the "basics"? Reinvite seasoned colleagues from overseas who are mostly content with the adventure of it all in the remaning downsized centers of excellence? Are any of the above gonna wear ESD straps in the labs?
How does this benefit Canada?
If the goal of any bailout is to preserve jobs, then this will help that. Out with the old (i.e. corrupt) and in with the new.
Canada needs to focus on developing in areas that will be of benefit to the country in the future. Telecom certainly falls into that bucket but how can Canada differentiate itself from other nations' advantages? Is bailing out Nortel the best use of cash or would it be better to give the money to a company like RIM (for example only) and encourage Canadian Nortel employees to work there instead?
There is an opportunity cost to bailouts. What should the government care most about? Nortel employees and Canadian innovation or a global MNC that has been unable to recover from an 8 year old crisis? This is not to lay blame - maybe it's just impossible to fix the situation as is with cash. Just like businesses need to innovate, so does the government. Is throwing cash at an old problem the best way?
Bail outs only should be granted on the proviso that increases to salary and packages be returned and notional salary taken for duration by Execs.
But then again who are we kidding! They (Execs et al) are only in it for their own ill gotten gains at the expense of the rank & file. Like they honestly care about nortel???
You must be Zjoking
The BoDs brought Z in and they certainly wont' remove him...They all will not go without a fuss especially when their pockets are already full with money and their a... are covered with insurance money.
John "the bad stuff is behind us" Manley will not see Conversative government to force his hand.
The bailout will not happen as long as these crooks are around...At minimum Z, the BoDs , and all the presidents have to be removed for the bailout to have a chance... I don't see that to happen.
There are another 4-5 layers of VPs/Directors that we haven't gotten to... This company is rotten beyond the core...I would say, let it's buried.
I feel for all the hardworking employees who have stuck around all these years.
Shipping alone is a massive expensive especially in China where it takes 4-5 months to receive.
Also these so called low wage earners are now demanding more pay.
An experienced engineer could solve a Customer problem in 10 minutes where the new folks take days. One Customer from North America called for support and got a voicemail in Turkish. Not Happy.
This is not to say the overseas people are at fault here, they were just thrown into something more then they were ready to handle by Judas Z.
They do not deliver the "same good job as you put it", maybe in the future but to bad there is no future in Chapter 7.
The outsourcing of jobs was started in about 1998, so how come the Company is now in Bankruptcy protection and the stocks sewered if it is such a good move?
The followers of the "I believe" campaign are actively spamming it because they have the blind belief that a bailout is all that is needed to rectify the situation.
As I have stated before, a straight bailout won't solve a thing. It is like keeping the feeding tube in without excising the cancer that is killing the patient.
The "I believe" nuts - who are sincere but sorely misguided - are so desperate that this is what is has come to. This is more a reflection of how much they have been abused, misused and misguided by upper management.
. the company is grossly mis-managed,
. 80% of the company is outside Canada,
. huge outsourcing and NT still gets R&D credits for work outside canada
. zero competitiveness so no value on taxpayer money
. massive debt will only result in holding a junk company
I believe NT management are crooks. They do not deserve a penny.
I think a bailout is unlikely, but not for the reasons you specify because those are things a government can fix.
85% = NO
15%= YES
http://www.theglobeandmail.com/servlet/Page/doc...
Any IP can vote multiple times on the CBC's poll as I indicated.
I should have stated it was imbalanced and left it at that than to reasoning why as I got some flack for that albeit still maintain my position this is why. (multi-voters)
Again, CBS's poll is not factual or reflective of Canadian's opinion,in poll. It is misaligned =) with prejudice. In other words, horsefeathers, The Globe's seems to be more accurate over the very short duration it ran and multiply larger.
As for bailing out a white elephant, who exports jobs, and can't get its losing numbers straight, I would say this is profoundly absurd to the point of uncontrollable laughter. However, the sobering reflection of what the EDC's did with taxpayers money exporting jobs than product, let alone the OSC which is bound to bust a stitch giving RIM and unprecedented $100M fine for coming forward and Nortel at measly $1M for costs in the largest fraud in Canada. So hey, perhaps anything goes to defy outrage and maybe it is really me that is misaligned here after all =) My opinion in that I am not can not be pried from me without proof that I am. =)
A/ Get rid of BOD and Executives.
B/ Bring jobs back to Canada.
C/ Re-institute severance for workers who will be laid off in the future.
And since none of the above is going to happen you know what that means.
So many canadians have had jobs with NORTEL. However, management has been corrupt to say the least.
The canadian govt has to bailout NORTEL on clear outlined conditions to keep the company going and save jobs. New management, as suggested by others, would be one of those conditions.
If nothing changes there, giving Nortel a bailout will just allow for more lavish executive bonuses and a return to the use of a private jet as a commuting tool for Mike Z.