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Kiwi00369 12/5/2012 | 2:14:50 AM
re: Nortel CFO Out about the Couplers...
Nipple 12/5/2012 | 2:14:49 AM
re: Nortel CFO Out No apology necessary...his departure is expected couple weeks ago.

Kiwi00369 12/5/2012 | 2:14:49 AM
re: Nortel CFO Out ...really...
OptixCal 12/5/2012 | 2:14:48 AM
re: Nortel CFO Out This "crooked CFO" sort of thing is obviously a sympton of the rarefied air of an upper management structure. Apparently the higher one ascends into the corporate clouds, the less oxygen moleules there are to keep the gray matter between their ears sufficiently oxengenated enough to keep the light-headedness at bay. This seems to be symptomatic of the idiocy of thinking that, at that height, these guys think they are "the all-powerful Oz" and that no one can see them way up there. Apparently the CFO mantra is "THEY CAN'T REACH MY UP HERE 'CAUSE THEY CAN'T SEE ME!!!"

And the thing that really frys my megabytes is that this seems to be a built-in excuse perpetrated by the Boards-of-Directors on these simple-minded (what else would you call them?) CFO's and Chief Execs just in case THEY ever get to that place of Nirvana.

Am I P/O'd? Yeah, how'd you guess. Myself, and hundreds of others like me are fighting to find jobs or maintain our current ones to support our families, and these clowns keep stepping on their own jumper cables! It's this continual "patching" of holes that keeps the status quo and widens the gap between management and workers. Go in, clean out the viruses, bring in a new operating system, add the necessary firewalls and bug scans, and pay these guys on performance not promises. Keep this up and the unions will be back with a vengance. Well, now that I think about it India, Pakistan,
Southeast Asia and (add the country of your choice) are still probably a long way away from any union activity, aren't they?
morye 12/5/2012 | 2:14:41 AM
re: Nortel CFO Out I wonder what it takes for you to admit that Light Reading has been unfairly biased against Lucent and has favored Nortel for its fancy optical gear. However it is clear that Light Reading's original charger of optical world has already been proven a pipe dream and thus no credibility left here. Optical fibers don't have a long enough life time to last enough for a profitable investment by ILECs. There is no 10gig pipe to each house and there is no optical revolution. Why don't you all do an article about the life of optical fiber and at least generate some interest in the industry to address the most obvious problem with investment in optical transport.
Machavelli 12/5/2012 | 2:14:37 AM
re: Nortel CFO Out We should not be surprised by CFO Douglas Beatty's performance. He was hand picked by the former CFO Frank Dunn and trained for the position by him.

Furthermore, No company has ever replaced a CFO and said, "We made more sales and our earnings were better"

See the following article for more details:


fbgboy 12/5/2012 | 2:14:36 AM
re: Nortel CFO Out love the board, i cashed most at 6.5 how about you? slam all you want. I know what is going on there, I am basically "down the street"[:~0
Doom 12/5/2012 | 2:14:33 AM
re: Nortel CFO Out I would not be surprised to see a SEC investigation. A lot of insiders dumped their stock in February. Expect the stock to go down further.
dodo 12/5/2012 | 2:14:05 AM
re: Nortel CFO Out http://www.theglobeandmail.com...

Analysts lobbed questions at Nortel Networks Corp. yesterday, including asking whether $140-million (U.S.) in management bonuses were justified last year

Mr. Bhargava estimated that Nortel managers got about $100-million for booking a small profit in the first quarter of 2003.

Beyond that payment, about 16 senior Nortel executives have received two special bonuses of cash and stock worth about $40-million since last July. A Nortel spokeswoman said it "would be inappropriate to speculate" on whether the bonuses could be revoked.

Metropolitian 12/5/2012 | 2:14:05 AM
re: Nortel CFO Out Dod,

I'll bet most of the people who caused the meltdown at Nortel are the same people who shared in the 140 million dollar payout. While most of the 60,000 people fired in the last 3 years had nothing to do with these terrible business decisions.

Even John Roth walked off with $200,000,000 after he cashed in his options.

1) From 1998, Nortel bought 15 companies for $25 billion in stock. But the telecom downturn made nearly all those acquisitions worthless. Nortel lowered the value of those companies by nearly $12 billion.

2)It also set up $5.3 billion in reserve accounts to cover the costs of severance pay, exiting leases and paying off supply contracts.

See the following for details:

Imagine how many jobs could have been saved by this 17.3 billion dollars that was squandered needlessly.

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