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Technology Stocks : Nortel Networks (NT)
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To: larry pollock who wrote (10769)6/18/2001 12:41:06 PM
From: larry pollock  Read Replies (1) of 14638
 
What is the difference between Nortel and Lucent? Nothing, both are junk companies. Lucent fired their junk manager, whereas Nortel's junk manager will continue to be in charge until next April.

Nortel's Board of Directors approved all of the acquisitions that Roth submitted that are now being written-off. The original acquisition proposals must have had some meaningful return projections. It is hard to believe that the proposals were approved on the basis that there were clearly speculative with a high likelihood of being written-off so soon after being acquired.

Roth has no credibility, and neither does the Board of Directors.

I listened to Nortel's conference call the other day. Roth was questioned at length about the company's problems with forecasting and making projections. According to Roth, other people were to blame for the deficiencies, he did not accept any responsibility. The CFO did not take any responsibility either. BUMS!!!!!
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