Nortel Insider – by Desk Jockey

Nortel Downfall Part 12

with 11 comments

11 Responses

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1. I’m not sure why, but this one seems particularly witty.

   

   NortelEmp

   April 7, 2009 at 11:02 pm
2. Made my day. Again. Thanks!

   

   Asset_Number_XXX

   April 7, 2009 at 11:20 pm
3. Thank you !! this is one of the best, you’re showing a lot of creativity. The words match so well the film it is a delicacy every time.
   As I just saw this morning in the chateaufort (France) building would be a good action to cross the Employee and Ethics out of the Nortel core values poster that might still be around your offices as it surely isn’t true, we have seen so many things recently proving it

   

   a peon

   April 8, 2009 at 11:50 am
4. oh yes, 1 of the best chapter.
   I’m just wondering when Nortel Downfall serie will end… countdown is ongoing and would reach deadline before the usual 24th episode of the season.
   I’m just thinking about a season 2, based on “24 Hours Chrono” where creditors associated with shareholders are terrorists destroying R&D plants and killing many pleople to get money back. Mike Z Bauer, part of CTU, fighting its own administration (to keep his KEIP), bypassing protocole (Corporate policies, Ethics…), assisted by the E&Y SWAT team, tries to save Nortel from final colapse… by killing numerous fellow employee on his journey, and finally dealing with competitors.
   And at episode 24, Mike Z Bauer survives, with his tiger team! Eeven if he has left chaos behind him, he would be proud to say “I saved Nortel from Chapter 7″

   

   jyga

   April 8, 2009 at 5:02 pm
5. Excellent chapter! Of course, The Z team is giving you a wealth of good material to work with lately.

   

   StillHangingOn

   April 9, 2009 at 8:53 pm
6. DJ,

   Your film has turned out to be extremely (and sadly) prescient…

   nortelgirl

   

   nortelgirl

   April 30, 2009 at 2:02 pm
7. BNN Interview of Michael McCorkle, Chairman of the NTCE Steering Committee

   http://www.youtube.com/watch?v=I-uJERbaF-4&feature=channel_page

   On May 1, 2009, BNN’s Andrew Bell and Kim Parlee interview Michael McCorkle, Chairman of the Steering Committee for Nortel Terminated Canadian Employees and Derrick Tay of Oglivie Renault LLP, speaking on behalf of Nortel Management and Directors. Michael McCorkle presents the position that Nortel needs to pay severance to the terminated employees since it can afford to do so with its $2.6 billion of cash and it is paying executive bonuses of $45 million and Directors substantial cash compensation.

   Derrick Tay, representing Nortel Management and Directors, says in this BNN interview that the Nortel terminated employees are in no different position within the Nortel empire than the guy that delivered flowers and other people who delivered stuff to Nortel.

   The NTCE Steering Committee, chaired by Michael McCorkle, supervises the work of Juroviesky and Ricci LLP and independent financial analyst, Diane Urquhart.

   This Steering Committee represents over 200 Nortel terminated Canadian employees, who support the Juroviesky and Ricci LLP plan to use the leverage of the terminated employees’ majority headcount vote to obtain the best possible cash settlement for termination and severance pay owed under employment statutes and common law precedents. Juroviesky and Ricci LLP will argue within the CCAA court proceeding that the terminated Canadian employees should have their own separate voting class based on their commonality of interests and equitable considerations.

   For additional information on the legal strategy of Juroviesky and Ricci LLP, go to the following web page:

   http://www.jruslaw.com/classactions/nortelccaa/

   Diane A. Urquhart
   Mississauga, Ontario
   E-mail: urquhart@rogers.com

   

   Diane Urquhart

   May 1, 2009 at 6:10 pm
8. This guy is saying there is only about 200 M$ Canada, and last week we’ve just been told that we need to fire 500 people in France because there is no more money. strangely exactely the same position as our friends in Canada, the places that are regrouping the most people have absolutely no money while the rest does. France is the second largest entity in EMEA with around 800 people and there are 400M$ in EMEA outside the UK meaning the same than Canada, the biggest entities have no money so where is Nortel’s Money ???? This way it i svery easy for the company to justify the fact that it can’t pay severance packages where it is firing the most.

   

   a peon

   May 4, 2009 at 6:47 am
9. Will part 12 be the last of the Downfall series?

   

   Unhappy_employee

   May 8, 2009 at 11:39 pm
10. DJ you have prodably been asked this before. Is there anyway these can be downloaded as a reminder of our time at Nortel.

    Be great if we could.

    Cheers

    

    One of the UK 228

    May 18, 2009 at 3:27 am
11. DJ: It’s been a while since you were active on your website. Almost 6 months. I hope everything is alright. If you’ve moved past this, maybe you should provide an update to that effect. But if you are game for more sharp commentary, I know you have many readers and video-watchers standing by.

    J SMITH
    Notmyrealname

    

    J Smith - a big fan

    September 23, 2009 at 9:42 pm