Great piece. But then, you are the Nortel God (is that a good thing? ;-))

Is this the start of the new un-walled Post? Or a one-time thing?

- Stuart

we're working on the walled garden thing, which i think will come down in time. i have noticed some of my recent NT stories have been unleased into the wild.

I think Nortel's brand name will be forever tarnished and their competitors are so far ahead of them, they will never be seen as a leader again.

When was the last time they announced anything of interest. Maybe they should re-launch as Snoretel!

I am not bitter, someday I'll make a shit-load off of my emty beer bottles.

Gary

The media and analysts are too objective proverbially lending the benefit of the doubt. NT claimed to recently provide an R&D plan next week, which is now delayed and will executed on the fly over the next few years, like extending repairing internal controls we were told would take 18 months a year ago and now they claim will take more years, the bogus tripple profits bogus in Q205 was astounding as they presented it like a sales flyer on their web site while hiding the bad news having analysts sift through hundreds of pages, or playing music chairs with product groups earlier which will be cut now, misleading and lies intentional or not benefit them by lifting the stock, as the SEC inhibits their forecasts, we can go on forever, it is beyond incomprehensible, it is as though they have acquired a wonderful sense of humour beyond hysterical.

They never understate but overstate, why? If the shareholders did not demand greater corporate governance as part of the fraud settlement concessions (to the 4th biggest fraud with $2.7 billion paid in damages with fines and criminal results to follow) we would still be trading on overstated financials, what got them into this mess to begin with. It was SOLEY on revenue recognition the 2003 restatement was accepted as the rest remained unreliable, now this must be restated.

They admittedly dilute (100M shares a year, more than they earn) claiming "to keep good people". This is not termed bonus but what is the difference if it is still remmuneration. They obviously and admittedly try to beef stock value but the only thing that works is misleading. One must question their methodolgies and mass orchastration in ongoing events like throwing a fistful of sand into tar. Overstating income benefits them, there is motive, this would be fraud as great as the first. One they claim conduct is not being investigated floowed by not yet now...

They said if they ever needed to restate again, they would be history.

They also said if they defrauded again, they would be history.

Both seem to have transpired and the analysts who were telling us the first restatement would likely be benign only to find it became the 4th biggest fraud in history are still lending the benefit of doubt. Once bitten twice shy but with so many contradictions, I am surprised such a retention challenged over opportunistic market is any more involved with NT than their lost customers/new business with no seemingly wanting anything to do with them. NT is the only ones claiming to do well as they use cash as collateral to refinance. Cash that declined from 3,9B in 2003 to 3.4 to 3 to 2.4 as they print shares like candy while keeping bogus bonuses... what's wrong with this picture.

Mike may be doing good things, who knows with their disclosure and contradictions, but joining NT who is struggling to regain credibility from the 4th biggest fraud while passed-by first time CEO defrauded a MOT contract from day one is hardly worth paying a premium for any more than OEC's declining earnings since 2003. The hiring of moral high profolers approach seems to conflict with their objectives.

Many have mortgaged their paid homes on margin and will suffer bankruptcy, widows call the plaintiffs attourney crying they have lost everything, the massive damage is astounding, yet they still overstate income like nothing has changed since the fall guys have left and they operate impunity free with no guarantees this won't happen yet again. Weak controls is tarditionally open season on bonuses too where i would be horrified to learn this was the motive behind their contradiction and extending repairing them.

Who believes a word Nortel says anymore inlight of endless contradictions in this nightmare saga. They have always dissapointed let alone now.