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I guess they got tired of being ridiculed and compared with empty beer bottles all over the internet...
I will always remember a business school friend of mine who got hired by Nortel in Ottawa:
"This is it [Largo], I no longer have to worry about my financial future".
If only things were so easy...
Here is a recap of the massacre:
And an article on the subject:
Nortel seeks bankruptcy protection, shares plunge
Wed Jan 14, 2009 12:03pm EST
By Wojtek Dabrowski
TORONTO, Jan 14 (Reuters) - Nortel Networks Corp (NT.TO)(NT.N), North America's biggest telephone equipment maker, filed for bankruptcy on Wednesday, hoping to save a once high-flying business whose decade-long decline has accelerated with the global economic crisis.
The filing marks a crucial stage in the slow deterioration of one Canada's most prominent companies. Nortel, a stock market darling before the tech bubble burst at the start of the decade and still one of the country's largest employers, has struggled for years in an industry that has changed radically since its heyday in the late 1990s.
Article link:
http://www.reuters.com/article/marke...0090114?rpc=44
I will always remember a business school friend of mine who got hired by Nortel in Ottawa:
"This is it [Largo], I no longer have to worry about my financial future".
If only things were so easy...
Here is a recap of the massacre:
And an article on the subject:
Nortel seeks bankruptcy protection, shares plunge
Wed Jan 14, 2009 12:03pm EST
By Wojtek Dabrowski
TORONTO, Jan 14 (Reuters) - Nortel Networks Corp (NT.TO)(NT.N), North America's biggest telephone equipment maker, filed for bankruptcy on Wednesday, hoping to save a once high-flying business whose decade-long decline has accelerated with the global economic crisis.
The filing marks a crucial stage in the slow deterioration of one Canada's most prominent companies. Nortel, a stock market darling before the tech bubble burst at the start of the decade and still one of the country's largest employers, has struggled for years in an industry that has changed radically since its heyday in the late 1990s.
Article link:
http://www.reuters.com/article/marke...0090114?rpc=44