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To: pat mudge who wrote (1454)	5/10/2001 7:12:22 PM
From: Sultan	Read Replies (1) \| Respond to of 3294

OT Monday 7 May 2001 Nortel in the rear-view mirror The souring economy has accelerated the number of senior staff departures. Don't panic. Ottawa will be richer for it James Bagnall The Ottawa Citizen Dave Cuddy knew something big was up. Only days after returning from Christmas holidays early this year, the Nortel manager received an e-mail instructing him and his 30-plus employees to show up for a group meeting. At the appointed hour, the team assembled in a conference room in the northwest quadrant of Nortel's sprawling R&D campus in west Nepean. The Internet specialists listened quietly as an outside Nortel manager explained the company would be laying off 800 workers worldwide -- and that Cuddy's group would be among the casualties. ottawacitizen.com

To: pat mudge who wrote (1454)	5/11/2001 4:12:26 PM
From: Sunny	Read Replies (1) \| Respond to of 3294

<This reminds me of Ted Siebel's comment at H&Q. Referring to the poor visibility so often mentioned by CEOs, he said there was no excuse and that anyone who didn't see what was happening should come and see him. "I had visibility," he said. "Not that I liked what I saw. But I knew what was happening. . . He all but said any corporate managers who didn't have systems in place to track their company's progress were living on some other planet.> Pat can you please furnish a link for the full text on this? Thanks, Sunny

To: pat mudge who wrote (1454)	5/20/2001 11:34:55 AM
From: Red Dragon	Read Replies (2) \| Respond to of 3294

Referring to the poor visibility so often mentioned by CEOs, he said there was no excuse and that anyone who didn't see what was happening should come and see him. Before we go on berating Nortel and others for missing out on signs of the downturn, we all have to face the fact that we, as investors, blew it as well. I (like everyone else on this thread) was unrealistically bullish on this sector, and I keep wondering if more careful due diligence could have avoided the hit all of our portfolios have taken. In retrospect, there were a few warning signs, but I suspect we were all guilty of brushing those aside, concentrating instead on only the positive news and opinions. Indeed, posters who bring up contrary viewpoints or negative opinions on message boards are often dismissed and derided mercilessly by the bulls.