A look at the top 10 US bankruptcies Nov 2, 2009
Hitachi to pay $10M for some Nortel network assets. Nortel Networks Corp. said Monday it agreed to sell some of its next-generation packet core network components to Hitachi Ltd. for $10 million ... Under the deal's terms, Hitachi will get assets including software that can be used to transfer data over existing wireless networks and the next generation of wireless communications technology, Nortel said. (Fresno Bee -- Business)
Ericsson Profit Slumps 71%, More Than Estimated, as Clients Slash Spending Oct 22, 2009
Ericsson agreed in July to buy the code-division multiple access, or CDMA, technology unit from Canadas Nortel for $1 ... Ericsson also bought a license on patents for Nortels long-term evolution, or LTE technology, which Nortel expects to become a standard in North America. (Bloomberg -- Europe)
Bankrupt Nortel Networks Wins Approval for Auction With Lead Bidder Ciena Oct 16, 2009
Bankrupt Nortel Wins Approval for Unit Auction Led by Ciena - Bloomberg ... Bankrupt Nortel Wins Approval for Unit Auction Led by Ciena ... Ciena, based in Linthicum, Maryland, wants the Nortel unit so it can acquire fiber-optic network products, broaden its customer base in Europe and Asia, and add customers such as Spains Telefonica SA.. (Bloomberg -- Canada)
Ciena Wins Court Approval to Bid on Nortel Assets Oct 16, 2009
Ciena Corp. wins court approval to bid on Nortel Networks Optical and Ethernet division ... Ciena Corp. has won court approval to start bidding on Nortel Network Corp.'s optical and Ethernet division with an offer valued at more than $532 million ... Bankruptcy court judges in Delaware and Ontario were initially unhappy with the amount Ciena would be paid if its plan to buy the Nortel unit was unsuccessful but gave the bid process the green light Thursday. (ABC News -- Wire)
Scopes monkey trials Oct 16, 2009
U.S. Chamber of Commerce pushes for 'Scopes Monkey Trial' of global warming science. U.S. Chamber of Commerce pushes for 'Scopes Monkey Trial' of global warming science. (Harper's Magazine)
Full Story » Oct 16, 2009
Ciena wins court approval for Nortel unit bid by AP: Yahoo ... Ciena wins court approval for Nortel unit bid ... Ciena Corp. won court approval Thursday to start bidding on Nortel Network Corp.'s optical and Ethernet division with an offer valued at more than $532 million. (Yahoo News -- Technology)
Ciena wins court approval for Nortel unit bid Oct 16, 2009
Ciena Corp. won court approval Thursday to start bidding on Nortel Network Corp.'s optical and Ethernet division with an offer valued at more than $532 million ... "We understand that there were changes to the bidding procedures and a change to the termination provisions of the stalking horse agreement," Nortel spokesman Bo Gowan wrote in an e-mail ... The Optical Networking business includes some of Nortel's most sought-after businesses units, intellectual properties and employees. (Yahoo News -- Technology)
Analysis: The awful cost of a departing CEO's silence Oct 13, 2009
It's hard to see how anyone could with a straight face describe Mike Zafirovski's tenure at Nortel Networks Corp. a success ... The ex-General Electric and Motorola executive's task was to turn Nortel around but that goal succumbed to a harsher reality ... Zafirovski's tenure at Nortel offers an example of the difference between what the board of directors might expect from an executive at the time of appointment and the individual's actual performance in office. (EETimes)
Exodus at Nortel India Oct 11, 2009
BANGALORE: Avaya's acquisition of Nortel's enterprise solutions business is pushing several of Nortel's executives based in India to move out ... Dhananjay Ganjoo, vice president for enterprise networks in Nortel Asia, moved last week to Microsoft India as its head for the telecom vertical ... Chauhan, who has held multiple positions in Nortel including that of MD of its Indian operations during 2006 and 2007, steps into a position that was vacated a few days ago by Nagendra Venkaswamy. (India Times)
Zafirovski says Nortel owes him $12M Oct 10, 2009
Zafirovski, CEO at time of Nortel bankruptcy, seeks $12M from company - Triangle Business Journal ... Zafirovski, CEO at time of Nortel bankruptcy, seeks $12M from company ... Zafirovski stepped down from Nortel in August after four years leading the beleaguered telecommunications equipment maker. (Triangle Business Journal)
Nortel Networks dumps Sunrise lease Oct 9, 2009
Nortel Networks dumps Sunrise facility lease - South Florida Business Journal ... Nortel Networks dumps Sunrise facility lease ... On Sept. 29, Nortel filed its intent with the bankruptcy court to reject the lease on its Latin American and Caribbean headquarters, at 1500 Concord Terrace in the Sawgrass International Corporate Park. (South Florida Business Journal, FL)
Ciena Will Acquire Nortel Optical Networking Assets for About $521 Million Oct 8, 2009
Ciena Offers to Buy Nortel Assets for $521 Million (Update4) - Bloomberg ... Ciena Offers to Buy Nortel Assets for $521 Million (Update4) ... Ciena, which gets about two-thirds of from the U.S., will use the deal to add fiber-optic network products, broaden its customer base in Europe and Asia, and add Nortel customers like Spains Telefonica SA. Nortels optical business operates in more than 65 countries, providing high-speed data networks across cities. (Bloomberg -- Canada)
Ciena agrees to buy Nortel unit for $521M in cash and stock Oct 8, 2009
Ciena Corp. agrees to buy Nortel unit for $521 million in cash and stock - Baltimore Business Journal ... Ciena Corp. agrees to buy Nortel unit for $521 million in cash and stock ... Ciena (NASDAQ: CIEN) had sales of $902 million in 2008, while the Nortel unit's revenue reached $1. (Baltimore Business Journal, MD)
Report: Cienas Nortel deal worth $550M Oct 7, 2009
Ciena offers $550M for unit of Nortel Networks - Washington Business Journal ... Ciena offers $550M for unit of Nortel Networks ... -based Ciena and Toronto-based Nortel confirmed advanced talks Monday without disclosing an acquisition price. (Washington Business Journal, DC)
Nobel Prize in Physics Goes to Pioneer in Fiber Optics and Inventors of Digital Image Sensor Oct 7, 2009
Half the prize will be awarded to Charles Kao, formerly of Standard Telecommunication Laboratories in Harlow, England (now Nortel), and the Chinese University of Hong Kong. Kao was an early pioneer in the field of fiber , the transmission of information over flexible glass fibers. (Scientific American)
Ciena Is Said to Bid $550 Million for Nortel Networks' Ethernet Business Oct 7, 2009
Ciena Said to Bid $550 Million for Nortel Ethernet (Update1) - Bloomberg ... Ciena Said to Bid $550 Million for Nortel Ethernet (Update1) ... Ciena has purchased eight companies in the past decade, and investors may be worried that the Nortel assets prove to be too big an acquisition, said , an analyst at UBS AG. The shares slid the most in five months today. (Bloomberg -- Canada)
Nortel deal unleashes rivalry Oct 6, 2009
Avaya to take on Cisco after buying Nortel unit ... Jake Dean BATTLE-READY: Nortel employs a few hundred people locally in a unit that makes voice and data communications sytems for businesses, says Wes Durow, the company;s vice president of enterprise global marketing ... That group figures to be at the center of a battle for market share between New Jersey-based Avaya, which recently agreed to buy the Nortel unit for $915 million, and California;s Cisco Systems. (Dallas Business Journal, TX)
Ciena Enters Talks to Acquire Ethernet Business as Nortel Sells Off Assets Oct 6, 2009
Ciena in Talks to Purchase Nortel Ethernet Business (Update3) - Bloomberg ... Ciena in Talks to Purchase Nortel Ethernet Business (Update3) ... Bensinger cited the challenges of absorbing the Nortel unit, given its overlapping products and operating losses. (Bloomberg -- Canada)
Nortel GSM biz also on auction block Oct 3, 2009
Nortel's GSM biz also on auction block- International Business-News-The Economic Times ... Nortel's GSM biz also on auction block3 Oct 2009, 0245 hrs IST, IANS ... TORONTO: Nortel, the 124-year-old Canadian telephone equipment company that is selling its various businesses to pay off its debtors, has announced to auction its GSM (global system for mobile communication) business also. (India Times)
Nortel to sell GSM business Oct 1, 2009
SAN FRANCISCO: Nortel Networks Corp has said that it plans to sell its global GSM business, as the bankrupt telecom equipment maker continues to auction off its assets. GSM -- which stands for Global System for Mobile communications -- is the most popular wireless technology standard for mobile phones in the world, Nortel said ... Once Canada's most valuable company, Nortel saw its stock tumble after the technology bubble burst in 2000. (India Times, India)
Huawei Unveils Grand Ambition in Naming Bross CTO Oct 1, 2009
According to Stacey's sources, many are defecting from the likes of Nortel and Cisco, among other companies. But while Huawei's current U.S. presence is miniscule, it has room to grow. (BusinessWeek)
MDI Announces New Chief Financial Officer, New Chief Technology Officer and the Resignation of Certain Members of the Board of Directors Sep 30, 2009
Mr. Wallace most recently served as the Voice Security and IP Trunking business leader under the Enterprise Solutions Global Services Organization at Nortel Networks Corp. Mr. Wallace has held a variety of positions at Nortel since 1991, including heading the Global Network and Physical Security Professional Services practice, serving both telecom and enterprise customers. During his 19-year tenure at Nortel, Mr. Wallace also held a variety of leadership positions in Advanced Technology and... (Primezone Releases)
Special report: Mobile marvels Sep 30, 2009
The most recent victim was Nortel, once Canada s most valuable company, which went bust in January. Having long concentrated on emerging markets, Huawei and ZTE are well placed to expand their market share as subscriber numbers continue to grow and networks are upgraded from second-generation (2G) to third-generation (3G) technology, notably in China and India. (The Economist)
Canada to Review Nortel's $915 Million Sale of Equipment Unit to Avaya Sep 25, 2009
Nortel-Avaya Sale to Be Reviewed by Canada Government (Update2) - Bloomberg ... Nortel-Avaya Sale to Be Reviewed by Canada Government (Update2) ... Sept. 24 (Bloomberg) -- Nortel Networks Corp.s sale of its phone-equipment unit to Avaya Inc. will be reviewed by the Canadian government under the countrys foreign investment legislation, Industry Minister said. (Bloomberg -- Canada)
Sony-Ericsson Denies Plans for South Korean LG-Nortel Sep 23, 2009
Tokyo, Sept 16, 2009 (IRG) - Sony Ericsson denied plans to buy the stake of Canadian telecoms equipment maker Nortel Networks in South Korean LG-Nortel. LG-Nortel was established in November 2005 as a joint venture of Nortel and South Korean LG Electronics ... Nortel, which is under bankruptcy protection since February, controls 50 percent plus one share in LG-Nortel. (JCN Network, Japan)
Nortel plans to sell some carrier networks assets Sep 22, 2009
SAN FRANCISCO Nortel Networks Corp. said Monday that it intends to auction off some of the company's carrier networks business assets in bankruptcy court ... Nortel said the auction will be for its next-generation packet core network components, which include software that helps transfer data over wireless networks, related non-patent intellectual property and equipment ... Nortel also anticipates granting the buyer a non-exclusive license of relevant patent intellectual property. (Atlanta Journal-Constitution -- World)
Wipro brings SAP ex-CEO Kagermann on board Sep 22, 2009
It earlier inducted William Arthur Owens, former CEO Nortel Networks in July, 2006. Besides Wipro, Mr Kagermann is currently a member of the supervisory boards of Deutsche Bank AG, Munich Re, Deutsche Post in Germany and in Nokia Corporation. (India Times)
Libya fund to buy Verenex for $293.7M in cash deal Sep 21, 2009
US, Canadian judges approve Nortel bankruptcy sale. Nortel Networks Inc. won approval Wednesday from judges in Delaware and Ontario for the $900 million sale of a Nortel unit that makes communications systems for businesses ... In a joint hearing involving a video link between courtrooms in Wilmington and Toronto, where Nortel Networks Corp. is based, U.S. Bankruptcy Judge Kevin Gross and Canadian Justice Geoffrey Morawetz approved the sale of Nortel Enterprise Solutions to New Jersey-based... (Fresno Bee -- Business)
Clement Says Nortel Assets Sold to Ericsson Not Worth Enough for Review Sep 17, 2009
Canada Wont Review Ericssons Nortel Asset Purchase (Update1) - Bloomberg ... Canada Wont Review Ericssons Nortel Asset Purchase (Update1) ... Sept. 16 (Bloomberg) -- Canadian Industry Minister said the government wont review purchase of some of Nortel Network Corp.s assets, saying the transaction isnt large enough and doesnt pose a security risk. (Bloomberg -- Canada)
Nortel Wins Bankruptcy Court Approval to Sell Phone Unit to Rival Avaya Sep 17, 2009
Nortel Wins Court Approval to Sell Unit to Avaya (Update2) - Bloomberg ... Nortel Wins Court Approval to Sell Unit to Avaya (Update2) ... The final price was about $440 million more than the starting offer, or about $8 million for each hour of the 50-hour auction, said , a Nortel attorney. (Bloomberg -- Canada)
US, Canadian Judges Approve Nortel Bankruptcy Sale Sep 17, 2009
Judges in US, Canada approve bankruptcy sale of Nortel business systems unit ... Nortel Networks Inc. won approval Wednesday from judges in Delaware and Ontario for the $900 million sale of a Nortel unit that makes communications systems for businesses ... In a joint hearing involving a video link between courtrooms in Wilmington and Toronto, where Nortel Networks Corp. is based, Judge Kevin Gross and Canadian Justice Geoffrey Morawetz approved the sale of Nortel Enterprise Solutions to New... (ABC News -- Wire)
Duane Edward Kincus Sep 16, 2009
After graduating from the GTE School of Electronics at Wentworth Institute of Technology, Boston, MA., Duane worked for several years as an engineer for Racal Corporation in NYC and Sunrise, FL. Duane went on to become a senior systems engineer for Nortel Networks of Boca Raton, FL, the Chief Technology Officer for The Presidio Corporation, of Lantham, MD and a Senior Enterprise Sales Executive for Webex/Cisco Systems of San Jose, CA. Duane was currently employed as the Chief Operating Officer... (Chelmsford Independent, MA)
CounterPath Reports First Quarter Fiscal 2010 Financial Results Sep 15, 2009
CounterPath's customers include some of the world's largest telecommunications service providers and network equipment providers including AT T, Verizon, BT (British Telecommunications PLC), Deutsche Telekom, Cisco Systems, Mitel and Nortel. Visit. (PR Newswire)
Nortel Selects Avaya as Successful Bidder for Enterprise Solutions Unit Sep 15, 2009
Avaya Wins Nortel Unit Auction With $915 Million Bid (Update4) - Bloomberg ... Avaya Wins Nortel Unit Auction With $915 Million Bid (Update4) ... Sept. 14 (Bloomberg) -- the U.S. maker of corporate phone systems, agreed to buy Nortel Networks Corp.s enterprise-telecommunications unit and other assets, winning an auction for the business with a bid of $915 million. (Bloomberg -- Canada)
Sham Battle debate ugly Sep 15, 2009
nortel wrote on Sep 14, 2009 4:59 PM:" Maybe if your looking for ways to modify the sham battle to refelct the growth and prosperity for wellsville, maybe keep the sage brush props, and the cabin prop. Have an LDS mormon walk into the cabin with three wives, shut the door and have the announcer simply say: Here you go ladies and gentleman. ". labeau wrote on Sep 14, 2009 10:40 PM:" Nortel, well if you did that, you could have my great great grandfather Charles Bailey, with his wives Hanna,... (Logan Herald Journal, UT)
Avaya wins Nortel unit, to stay in RTP Sep 15, 2009
TBJ file photo The Enterprise Solutions Division is based on Nortel's campus at Research Triangle Park ... Joel Hackney, president of Nortel s RTP-based Enterprise Solutions unit, said Avaya will also keep many of the employees but the exact number has not yet been determined ... Avaya emerged Monday as the winning bidder for bankrupt Nortel s Enterprise Solutions division. (Triangle Business Journal)
Avaya wins auction for Nortel Sep 15, 2009
Avaya Inc. was the winning bidder among three companies that wanted to buy the bulk of Nortel Networks Inc., including its government business ... Nortel Enterprise Solutions President Joel Hackney emphasized the deals benefit to customers during a conference call on Monday ... Yet one Nortel customer, that Nortel has with Verizon. (FCW.com)
Telcos ring in growth on cost reduction, rural call Sep 14, 2009
Others like Nortel could not survive, while a few others worked through mergers to focus on emerging markets like India and China. All in all, a win-win story for consumers, service providers, policy makers and infrastructure suppliers. (India Times, India -- Intl Business)
Powell Goldstein Dragged Back Into Malpractice Battle Sep 12, 2009
The company had witnessed declining sales to its largest customer, Nortel Networks, and had completed an acquisition that diminished its cash reserves and working capital by more than 70 percent. Yet executives, whom Laddin has accused of insider trading and breach of fiduciary duty, issued optimistic reports to shareholders. (Law.com)
International Datacasting Corporation Announces Changes to Board of Directors Sep 11, 2009
Prior to joining DC Technologies in 1998, Mr. Colbourne was Vice President and General Manager of Nortel Semiconductors. He also previously served as Chairman of Shanghai Nortel Semiconductor (SNS), a Nortel joint venture based in Shanghai, PRC. Mr. Colbourne is currently a member of the board of several technology companies, including Chairman of Opel, Inc. He is a member of the advisory boards of Spectalis Inc., Avalon Micro Inc. and the National Research Council's Canadian Photonics... (CCNMatthews Press Releases)
Hearing set for Verizon vs. Nortel-Avaya Sep 11, 2009
Judge to hear Verizon's objections to sale of RTP-based Nortel unit to Avaya - Triangle Business Journal ... Judge to hear Verizon's objections to sale of RTP-based Nortel unit to Avaya ... TBJ file photo Nortel s Enterprise division is based at the company s campus in Research Triangle Park. (Triangle Business Journal)
Nortel Talks on LG Venture Sale in Korea Advancing With Multiple Bidders Sep 3, 2009
Nortel Talks on LG Venture Sale Advancing With Multiple Bidders - Bloomberg ... Nortel Talks on LG Venture Sale Advancing With Multiple Bidders ... Nortel provided a progress report a day after LG denied it was planning to sell its stake. (Bloomberg -- Canada)
Sotel protests proposed Nortel sale Sep 2, 2009
Sotel Systems protests proposed Nortel sale - St. Louis Business Journal ... Sotel Systems protests proposed Nortel sale ... Bankrupt Nortel is looking to sell its Enterprise Solutions Division to Avaya. (St. Louis Business Journal, MO)
Sale of Nortel unit draws protest Aug 29, 2009
Sotel Systems protests proposed Nortel sale - Triangle Business Journal ... Sotel Systems protests proposed Nortel sale ... A letter sent to the Justice Department from Jim Goebel, president of St. Louis-based telecommunications equipment re-seller , asks the Justice Department to block the Nortel-Avaya deal, claiming that the transaction would lessen competition and likely result in higher prices. (Raleigh Triangle Business Journal, NC)
BILL WOULD GIVE OBAMA 'EMERGENCY' CONTROL OF INTERNET Aug 29, 2009
"I think the redraft, while improved, remains troubling due to its vagueness," said Larry Clinton, president of the , which counts representatives of Verizon, Verisign, Nortel, and Carnegie Mellon University on its board. "It is unclear what authority Sen. Rockefeller thinks is necessary over the private sector. Unless this is clarified, we cannot properly analyze, let alone support the bill.". (The Drudge Report)
Nortel Faces $3 Billion Tax Claim From IRS in U.S. Bankruptcy Court Case Aug 29, 2009
Nortel Faces $3 Billion Tax Claim From IRS in Bankruptcy Case - Bloomberg ... Nortel Faces $3 Billion Tax Claim From IRS in Bankruptcy Case ... The IRS filed the claim Aug. 20 as part of Nortels bankruptcy. (Bloomberg -- Canada)
Telcos major contracts expenditure to exceed RM5.6bil Aug 28, 2009
The global players vying for equipment contracts include Ericsson, Huawei Technologies Co, Alcatel-Lucent, Nokia Siemens, Motorola, Cisco and Nortel. When there are opportunities, there will be competition. (The Star Online, Malaysia -- Business)
BSNL's Nokia tender disqualification upheld Aug 26, 2009
On the other hand, BSNL has maintained that all the four companies which were disqualified NSN, Chinas ZTE, Alcatel-Lucent and Nortel were purely because of technical reasons. BSNL executives have told ET that they suspect vested interests are behind the legal challenges to delay its tender and stymie the state-run companys expansion. (India Times)
Global IP Solutions Powers the New Yahoo! Messenger Video Calling Aug 25, 2009
Its customer list includes CommuniGate, Nimbuzz, Nortel, Oracle, PCCW, Samsung, WebEx, Yahoo. AOL and other key players in the voice and video over IP markets. (PR Newswire)
The Rise and Fall of Nortel: Unwise acquisitions, scandal led to downfall Aug 25, 2009
Nortel Networks Mike Zafirovski stepped down as Nortel s CEO earlier this month ... During a 2000 speech to the IndUS Entrepreneurs group, then-Chief Operating Officer Clarence Chandran, who was based at Nortel s Research Triangle Park facility, boasted that after closing a deal, Nortel replaced the old firm s name with Nortel stationary, coffee mugs and T-shirts within 24 hours ... The dismantling of Nortel is coming in a similarly organized fashion. (Triangle Business Journal)
Apple denies 'rejecting' Google Voice for iPhone Aug 22, 2009
com, Adomo, Nortel, Cisco, and Avaya. YouMail DropBox allows users to consolidate voicemails from their work or home VOIP system and mobile phone, creating a more universal voicemail service that can be accessed anywhere at anytime. (Fresno Bee -- Business)
Ericsson May Bid for Nortel Patents After Buying Wireless Telephone Unit Aug 22, 2009
Ericsson May Bid for More Nortel Wireless Patents (Update1) - Bloomberg ... Ericsson May Bid for More Nortel Wireless Patents (Update1) ... 13 billion purchase of Nortel Networks Corp.s wireless assets triggered protests from Research In Motion Ltd., may pursue more of Nortels technology if it is put up for sale. (Bloomberg -- Canada)
Redundancy fury fuels workers' threat to poison Seine Aug 22, 2009
Last month workers at New Fabris, a bankrupt car parts plant, and Nortel, an insolvent telecommunications company, vowed to explode gas cylinders at their factories if requests for improved severance packages were not met. Both threats have since been lifted. (Sydney Morning Herald -- World)
> Timeline of crucial events in Nortel's history Aug 21, 2009
The Rise and Fall of Nortel: Timelime - Triangle Business Journal ... The Rise and Fall of Nortel: Timelime ... 1874 Alexander Graham Bell invents the telephone in Brantford, Ontario, about 64 miles from the current Nortel Networks headquarters. (Raleigh Triangle Business Journal, NC)
Unwise acquisitions, scandal proved too much to overcome Aug 21, 2009
The Rise and Fall of Nortel: Unwise acquisitions, scandal led to downfall - Triangle Business Journal ... The Rise and Fall of Nortel: Unwise acquisitions, scandal led to downfall ... Nortel Networks Mike Zafirovski stepped down as Nortel s CEO earlier this month. (Raleigh Triangle Business Journal, NC)
Will RTP jobs stay? Only the buyer knows Aug 21, 2009
The Rise and Fall of Nortel: Will RTP jobs stay ... The Rise and Fall of Nortel: Will RTP jobs stay ... TBJ file photo Nortel Networks has about 2,000 employees at its RTP campus. (Raleigh Triangle Business Journal, NC)
Canada Stocks Rise as TD Bank, Imperial Gain on Economy and Oil Prices Aug 20, 2009
The Globe and Mail reported the Canadian government is unlikely to block Nortel Networks Corp.s sale of wireless-network technology to Ericsson AB. The BlackBerry smartphone maker, which also seeks the asset, asked the government this month to start new talks, saying the transaction would deprive the country of a vital technology. Uranium-mining company , which is not in the S&P/TSX composite, sank 13 percent to C$5. (Bloomberg -- Canada)
RIM Urges Canadian Government to Review Aug 20, 2009
RIM says Canada should review Nortel deal to sell wireless business to Sweden's Ericsson ... 1-billion sale of Nortel Network's coveted wireless assets to Ericsson of Sweden ... Canada-based RIM issued a statement Wednesday after the deadline passed for appeals to challenge a bankruptcy court ruling allowing the Nortel sale to the Swedish telecommunications firm. (ABC News -- Wire)
Nortel Asset Liquidation Taken Over by Ernst & Young After Chief Resigns Aug 15, 2009
Nortel Asset Liquidation Taken Over by Ernst & Young (Update1) - Bloomberg ... Nortel Asset Liquidation Taken Over by Ernst & Young (Update1) ... Ontario Superior Court Judge today expanded Ernst & Youngs responsibilities to include administering Nortels business and operations and conducting sales of company assets. (Bloomberg -- Canada)
Harper Says Canada to Review Ericsson Purchase of Nortel Wireless Assets Aug 12, 2009
Harper Says Canada to Examine Nortel Assets Purchase (Update2) - Bloomberg ... Harper Says Canada to Examine Nortel Assets Purchase (Update2) ... 13 billion sale of some of Nortel Network Corp.s wireless assets to Ericsson AB, to ensure the transaction is in Canadas national interest. (Bloomberg -- Canada)
Nortel CEO Zafirovski Steps Down as Bankruptcy Asset Sale Nears Completion Aug 11, 2009
Nortels Zafirovski Resigns as Asset Sales Near End (Update4) - Bloomberg ... Nortels Zafirovski Resigns as Asset Sales Near End (Update4) ... The companys business units will now report to Chief Restructuring Officer , Nortel said today in a statement. (Bloomberg -- Canada)
Nortel CEO Zafirovski resigns; Jim Hunt among six leaving board Aug 11, 2009
On Monday, Nortel said Zafirovski is stepping down effective immediately, and the company, which is selling itself off in pieces while under bankruptcy court protection, will reduce its roster of directors to three from nine ... Toronto-based Nortel, once a major Triangle employer with more than 9,000 workers, has seen its local payroll decline to 1,850 as its overall fortune has darkened ... In a brutally competitive telecom space beset by mergers and acquisitions among carriers, Nortel s... (Raleigh Triangle Business Journal, NC)
Buffett's Payouts Climb on Derivatives Tied to High-Yield Corporate Debt Aug 11, 2009
BH Finance LLC, a Berkshire unit, signed up for auctions in January allowing it to swaps linked to six borrowers including packaging-maker and telephone-equipment company Nortel Networks Corp. ... The payout on Nortel was 88 cents per dollar. (Bloomberg)
Nortel CEO resigns; board slashed Aug 11, 2009
Nortel CEO Zafirovski resigns; Jim Hunt among six leaving board - Atlanta Business Chronicle ... Nortel CEO Zafirovski resigns; Jim Hunt among six leaving board ... On Monday, Toronto-based Nortel said Zafirovski is stepping down effective immediately, and the company, which is selling itself off in pieces while under bankruptcy court protection, will reduce its roster of directors to three from nine. (Atlanta Business Chronicle, GA)
Optimism Rises for Nortel Unit Sell-offs Aug 11, 2009
Nortel, which is selling off its various divisions after slumping into bankruptcy, released second-quarter results that beat expectations ... Taken together, the numbers suggest Nortel may have an easier time finding buyers for some divisions that remain up for sale ... Nortel's other businesses "should be more attractive now." Would-be customers, in turn, are likely to be more comfortable about doing business with Nortel as confidence rises that its operations will be in the hands of stable... (BusinessWeek)
