Nortel files for bankruptcy

Discussion in 'Community Discussion' started by gkarris, Jan 14, 2009.

  1. gkarris macrumors 604

    gkarris

    Joined:
    Dec 31, 2004
    Location:
    "No escape from Reality..."
    #1
    Northern Telecom backed then.

    Wow, I worked for them back in the early 90's IT heyday - and they were using Macs! What fun that was - working on the new PowerBooks, having a Quadra 900 with a 21" Apple Display on my desk - going "remotely" with Timbuktu...

    I left for higher pay with IBM, and they were switching to PC's - Dell won their contract and people I worked with were laid off. My cousin ended up working for them as a switch installer and he said that his Dell and IT support for it was horrendous...

    Sad to see companies go under as it gets harder to compete globally.

    http://news.cnet.com/8301-1035_3-10142422-94.html

     
  2. yellow Moderator emeritus

    yellow

    Joined:
    Oct 21, 2003
    Location:
    Portland, OR
  3. GoCubsGo macrumors Nehalem

    GoCubsGo

    Joined:
    Feb 19, 2005
    #3
    While working on my MBA I did a small research paper on them. I would say I can't believe this is happening, but this is the climate. :(

    This is so true ...
    Explain?
     
  4. gkarris thread starter macrumors 604

    gkarris

    Joined:
    Dec 31, 2004
    Location:
    "No escape from Reality..."
    #4
    I worked for them at a Regional Office outside of Chicago - their main facilities in the US were in Research Triangle Park (RTP), NC
     
  5. Keebler macrumors 68030

    Joined:
    Jun 20, 2005
    Location:
    Canada
    #5
    what is really sad about this situation is that the past CFO and CEOs who made millions on bonuses and who drove this company into the ground with false sales and revenue figures, made their millions and now the emloyees are going to suffer.

    I think one of the CEOs is being investigated, but still. b&stards!

    I don't think is b/c of the times. This has been a long time coming unfortunately. It's just bad timing. They're so broke they can't afford to let long time employees go b/c they can't even pay the severance! ugh.

    I have a friend who works for them and he's had sleeping issues and other stress stuff b/c of the environment nortel is in. He wants to leave, but he'd be dumb to go unless he gets a pkg, but I don't even know if that will happen.

    Sad.

    Cheers,
    keebler
     
  6. GoCubsGo macrumors Nehalem

    GoCubsGo

    Joined:
    Feb 19, 2005
    #6
    Oh oh I get it. So with them going under RTP basically suffers and weakens?
    I just moved here, I have no clue what is in RTP ... I should google. Well, I should get back to work, but google is a good alternative. ;)
     
  7. ~Shard~ macrumors P6

    ~Shard~

    Joined:
    Jun 4, 2003
    Location:
    1123.6536.5321
    #7
    Unfortunately this doesn't surprise me in the least. I deal with Nortel as I work for a service provider, and they have been going downhill in all aspects for the past few years now. They still have a "telco" mindset in many respects and not an "IT / IP" mindest which has really caused them to suffer in terms of their business models, practices and so forth.

    I also worked in Ottawa back in 2000, then termed, "Silicon Valley North", and although I didn't work for Nortel I had many colleagues who did, and man, those were the days... People were picking up shares in the company for $125/share back then - now though their shares are worthless, especially after the 10:1 reverse split Nortel exectuted a year or so ago.

    Sad to see in a way, but on the other hand, they had it coming to them.
     

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