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To: arvitar who wrote (30740)1/15/2013 10:56:18 PM
From: the_big_guyRespond to of 53574
 
Not so fast.
1.Nortel was a heirarchy of overeducated overqualified empire-builders and dreamers that fabricated a fantasy based on the internet when they were never more than a telco supplier, and a limited one at that.
2. Nortel was a legitimate business tradin gon real exchanges that had a bloated payroll with 10ès of thousands more than they needed, the rest serving to build the budgets and salaries of management, and who mostly had to fabricate their own jobs.
3. Nortel had layers of management filled with self-proclaimed geniuses with a too good to be true story that would take 2 years to initiate, upon which they would get a new assignment and leave the mess for someone else to clean up.
4. the Pntario courtès complaint against the NOrtel execès is that they purposefully lied to investors to generate bonusses for themselves and their buddies.
5. Nortel had a lot of "one-time charges" and false accruals, picking their moment to declare profitability and further their schemes, due to their meagre revenues.