In regards to NT demiseI also have two words: Unmitigated Greed. NT management took what little ethics they had, along with any shareholder responsibility, and simply chucked them out the window. After all, more important things were at hand... like stock options and an elitist good ol' boys club. John Roth (the CEO at the time) lied through his teeth to employees, customers, the media, and employees. Everything was rosy according to him. More sales on the way! Another record year ahead. The stock price shot up even higher. When the truth hit the fan, Roth left the company for his new estate outside Toronto before the stock REALLY tanked. The company’s stock peaked at $124.50. Within weeks, Roth cashed in his stock options and by year’s end had pocketed $135 million. During a year-long leave of absence, he continued to collect his $1.5 million salary. One shareholder at the company's annual meeting called Roth's severance package an "obscene golden handshake". Nortel declined to discuss Roth's compensation. "I'm not going to dissect the numbers. They are what they are. They speak for themselves," said Nortel spokesman David Chamberlin. Fortunately, I retired early (and quickly!) when I saw several glaring signs that something was amiss. But that's a whole other story. Those employees who stayed, lost their jobs, and simultaneously watched their retirement savings vanish were no less culpable than the boys at the top. Over 50% of all 401k money was invested in Nortel common stock. And that's brainless beyond words. Two words, actually.
NT demiseBy Anonymous on July 1, 2009, 11:56 amInstead of asking analysis, you should ask employees what was wrong with NT. 2 words: Lousy Management NT had the reputation in the early to mid 80's in the Research Triangle Park of making it inspite of its management. They started laying off their best "Indians" in 1988, but kept and rewarded their "Chiefs" who were causing NT's downfall with totally stupid decisions. We the empoyees could see the stupidity of management's decisions--why couldn't they? NT finally laid off most of their expert employees and that is when their major decline started. NT's history should be used in business schools as an example of "How not to run a business".
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So SadBy Anonymous on September 16, 2009, 5:59 pmGreed, Poor managment, Greed, and More Greed by those at the top. The Good Ol Boys stayed. The could make a difference were shuffeled out as quickly as possable. The invincalbe giants took no action for too long Then it was a shoot from the hip knee jerk reaction Too little too late So Very Very Sad
Management mismanagementBy Anonymous on July 13, 2009, 4:04 pmWestinghouse Electric's demise of their excellent home appliances would be another example of how not to run a company.