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Technology Stocks : Nortel Networks (NT)
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To: Bosco who wrote (2055)2/22/1999 7:47:00 PM
From: primepower  Read Replies (1) of 14638
 
Paul Severino was a great visionary. Unfortunately at the time of the merger Paul felt he did not have enough experience with large Companies to become CEO and therefor opted for the Chairman's role where he was to concentrate on where the Industry was going.
It was Andy's inability to make the two Eng depts, East and West, work together that led to the problems at Bay and the eventual hiring of Dave House.
All I keep hearing since the NT merger is the management sold out and made a killing. Yes, they are paid well, but what they did was to recognize that going alone was a losing battle. Putting aside their own careers they went out and made the best deal possible, at the time, for the shareholder and the employees by merging with NT. It was fortunate that NT recognized the talent at the management level of Bay and kept the team together. Time will prove them right.
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