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Joined: Mar 2005
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Hot off the press-
The communications industry has certainly seen its share of consolidation - either by choice or out of necessity - in the past year. But now, North America's largest telecom equipment vendor is on the brink of becoming the latest casualty of a sinister combination of an economic recession and a trend toward software-based communications. Canadian firm Nortel is reportedly filing for bankrupcy protection. TMCnet president Rich Tehrani will have more, straight from the proverbial horse's mouth, after a call with Nortel today.
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Joined: Jul 2005
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get all your patches up to date
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Joined: Aug 2004
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Don't worry about a thing..this was reorg not liquidation. Canada has offered $24 mill to help realign. Other than the stockholders it will be business as usual. They are probably in better shape now that this has happened than they were before....it's been a long time coming.
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Joined: Jan 2005
Posts: 15,399 Likes: 18
Moderator-Vertical, Vodavi, 1A2, Outside Wire
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Moderator-Vertical, Vodavi, 1A2, Outside Wire
Joined: Jan 2005
Posts: 15,399 Likes: 18 |
No kidding. Their stock has been in the tank for years and the brunt of lots of jokes. There is no way that Nortel is going out of business. Changes? Yes, they are definitely in order but aside from that, they aren't going anywhere.
Ed Vaughn, MBSWWYPBX
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Joined: Oct 2005
Posts: 4,685 Likes: 4
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I suspect the comapny will be cut up and divisions sold. Much like how Intertel was aborbed by Mitel. hmmmm Avaya Norstar. Cisco BCM oh that made me shiver.
Yes a it has been a long time coming. Very sad day. 100 year old company once the largest private company in Canada.
Marv CCNA, CTUB
TeleMarv Services (Retired)
Providing telecommunication solutions in Ottawa Canada since 1990
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Joined: Apr 2007
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mark twain once said, you cant throw a rock in montreal without breaking a church window, its more like you cant toss a rock without breaking a former nothern telecom plant window. sad day indeed. At least the NE logo is still proudly on the old northern main plant on shearer
Jay, a recovering IT guy
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Joined: Nov 2009
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At what stage Nortel is now.. can anyone lets now.
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Joined: Jun 2006
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Moderator-Nortel, Computers, General
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Moderator-Nortel, Computers, General
Joined: Jun 2006
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 to the board. Please try to refrain from bringing up old threads... Last word is they're still trying to sell bits & pieces. You might try looking in the Telecom News forum
Scientists say that the universe is made up of Protons, Neutron & Electrons. They forgot "Morons".
Dave. (CTUB) Canadian Techs Use Bix!
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