The newspapers report the remains of Nortel are to be dismantled and sold to foreign buyers. At one time Nortel employed one in five electical engineers in the
country, was with IBM, Pratt and Whittney and the NRC, one of the few major research organizations in Canada. It's research has destroyed it. Like IBM, the
advance of the chip, the laser and etc left it with no product to sell. Politicians, journalists and other dumbcoughs like to talk about research as a jobs
spinner for the future but in fact it may not work out that way.
Nortel dies, the result of succesful R & D
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 bruce the vii |
Nortel dies, the result of succesful R & D |
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Posts: 3874 (07/01/09 07:57 AM) |
Last Edited By: bruce the vii 07/01/09 08:54 AM.
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bingocaller |
CEO of the year..hah... | ||
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Posts: 6270 (07/01/09 10:04 AM) |
how did John Roth escape charges in the long slow collapse of Nortel??? 
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bruce the vii |
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Posts: 3875 (07/01/09 10:37 AM) |
When Nortel's stocks evaluation went up to about 25% of the Canadian GDP John Roth sold all his shares and made $100 million. It was a slam dunk. An idiot
could see that. Yet his job was to boost stock prices for the owners, so he never said anything was wrong. It's pretty simple. Meanwhile the American tech
bubble was about $1 trillion and then the cart got upset and all the rutabagas spilled. I don't know that John Roth miss managed the direction of the
company. It's just that Central Office Switches, PBXs and routers became much cheaper.
The Bank Mortgage Melt Down in the USA, on the other hand, is big time fraud. All these mortgage sales persons selling bad loans and executives bundling them. It's a write off, you can't properly investigate. Even the CEO's in the defaulting banks that were party to the heist are still running the business.
Last Edited By: bruce the vii
07/01/09 11:56 AM.
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Elvid Presliad |
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Posts: 6907 (07/01/09 02:28 PM) |
.....Moore's Law applies to a lot more than CPU's......and Nortel overpaid for a lot of smaller companies during its rapid increase in valuation during
the late 1990's...
sad to see, and I'm not even thinking about my own pocketbook.....as you said, the biggest scientifice research company in Canada.....aside from Blackberry and Open Text, I can't think of a lot more big global tech companies based in Canada.....sad to be thining on Canada Day... |
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