One of the things that will strike Nortel Networks investors when they receive the company's 2003 annual report is the low quality paper used. It's so thin, you can easily see right through it if you hold it up to the light. It's so thin, if I went on a camping trip and only had the Nortel annual report after running out of TP, I'd try to find something else.
I guess Nortel deserves some credit for trying to save a few bucks in light of its accounting scandal. The company is really in a no-win situation: by putting out a cheap annual report, Nortel gives people another target to shoot at. If, on the other hand, they put together a glossy "we're still alive and kicking" annual report, people would likely shoot them down for spending too much money.
My take is Nortel went too far on the frugal scale. Then again, their 2002 annual report wasn't much better, which doesn't say that much.

I had an interesting conversation with a smart guy from Cisco recently about IP-based services. He suggests Google could easily move into the telephony market by enhancing its desktop software product. The idea is you offer users an upgrade that features a Skype-like component, and you're off to the races.
If Google is considering this idea, I wonder whether it would charge for the service or offer it for free with a premium option. If it offered the service for free, the "business plan" may offering AdSense opportunities on a VOIP portal while trying to drive traffic to other Google sites. Personally, I can't see why Google can't be as disruptive as it wants. With a solid and lucrative business foundation, it has the luxury of throwing ideas at the wall to see what sticks.

Skype has reached an interesting deal with Hutchison Global Communications, a part of billionaire Li Ka-shing's empire that operates a high-capacity fiber-to-the-building network in Hong Kong. The agreement will see HGC market and distribute Skype through a co-branded portal called HGC-Skype. The portal will launch next month and offer free and unlimited Skype-to-Skype voice calls worldwide and the pre-paid SkypeOut service.
This deal is eye-catching because I believe it's Skype's first agreement with a fixed network operator. These kind of relationships have been difficult for Skype because Skype is the the carriers' worse nightmare - it offers a service that piggybacks on their networks and offers consumers free or inexpensive long-distance calling. I'm curious about why HGC would get into bed with Skype rather than develop software internally or strike a deal with a Vonage.
HGC is developing a reputation for unique partnerships. Last month, it unveiled a deal with Galaxy Satellite Broadcasting Ltd. that will see the two companies provide Galaxy's programming, including pay-TV, over HGC's network
Hong Kong sure seems like a cool place for high-speed services. Om Malik recently wrote about a 100MB per second service launched by Hong Kong Broadband Network using gear from Cisco. Om says HKBN plans to roll out a 1Gbps service by June to offer voice, video-on-demand, IP-TV and data services.
I lived in Hong Kong from 1992 to 1994, and I can remember a friend being all excited about a service called CompuServe where you could do something called "e-mail". It all seemed kind of strange back then.