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Technology Stocks : Newbridge Networks
NN 11.91-4.9%12:27 PM EST
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To: julian hatfield who wrote (5475)7/10/1998 12:57:00 AM
From: Geof Hollingsworth  Read Replies (1) of 18016
 
you're obviously too young to remember TM bailing Mitel Corp. (the other company he "built from scratch") straight into the arms of BT in the early eighties

Ah, another historian-I love it! My understanding of the Mitel situation is a little different. I think virtually all of their business was derived from selling PBX's and related equipment to the Bell System, who in turn re-sold it to the customers in their respective regions. In a last-minute modification to the consent decree in 1984 (thank you Judge Greene ), the newly-minted RBOCs were forbidden from providing/reselling CPE like PBX's, and overnight Mitel's primary distribution network disappeared. As you say, TM did the sensible thing and found a good home for the people and products, which I think should give everyone here comfort, but I don't see a similar situation on the horizon here. BTW, if I have been misled about the history, I'm sure this thread has many who will correct the tale <G>

I know it has been posted here many times, but an additional reminder about acquisitions-NN is stuck with Canadian accounting rules which do not permit pooling. How many acquisitions would Cisco have made if they had to pay cash and use purchase accounting? How long ago would they have run out of book equity?
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