Updated Aug. 10, 2012 at 7:01 a.m.

Premium Lock Nortel nears the end: All businesses, patents have been sold

Published: 2012-08-10 06:32:00
Updated: 2012-08-10 07:01:24

Nortel Nortel
Tags: Nortel

The former telecommunications gear giant says it has sold off all businesses and patents as part of its bankruptcy liquidation. Nortel recently moved to terminate health benefits to its retired workers in the U.S....

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I guess their middle management's robotic repetition of 'build shareholder value' never caught on.
I interviewed with these clowns right before they went on a drunken spending binge in RTP. Right after they spent all that money (hundreds of millions of US dollars) on real estate, buildings, renovations and infrastructure, they started the layoffs and it just steam rolled down hill from there, non stop. The arrogance I encountered by some of their middle management from Canada had to contribute greatly to their demise. The only other times I have seen such arrogance was with Fidelity and Credit Suisse. Both of whom have had extensive layoffs since then as well. How's that working out for you?
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