Nortel – No Telling
by Jan Yuill
I am struck by the contrast between:
This Globe and Mail heading – Nortel explores bankruptcy protection, government aid: report – where the news is that ‘Nortel Networks Corp. has sought legal advice to study a bankruptcy protection scenario in the event that its restructuring plan fails.’ It goes on to report about Nortel’s crushed shares that are still plunging.
– and –
- A Nortel spokesman, saying “Our commitment is to remain an innovation-driven organization, delivering value to our customers for the long term.”
It is indeed a challenge to speak about ‘bankruptcy, innovation, and value to customers’ all in the same breath. Can Nortel do it? Won’t we all be surprised.