Some former Nortel executives are lobbying the Canadian government to save Nortel from being sold off in parts. The plan looks like a government bailout of Nortel, with Canada assuming control of the company. The former executives seem to be invoking some national pride to warrant a bailout. Additionally, as a part of the plan, Nortel, the Canadian government, and other Canadian hi-tech firms would build a national broadband network covering most of Canada. “This is a huge opportunity we’re trying to scope out,” tells Robert Ferchat, a former Nortel CEO, to Canada.com.
“Top officials at Export Development Canada, the Industry department and other federal agencies have met in recent days with Ferchat’s allies” the story reports. But the plan is far from a done deal. “We don’t want anyone to say we didn’t try,” says Ian Craig, a former Nortel chief marketing officer. “And I don’t want anyone to say they didn’t know what was at stake. They know now.”
One thought on “Saving Nortel?”
Why should we save an organization that dominated the Telco market with its CO products and (its management)stood by and watched the market go away from it? This combined with its refusal to consider the needs of the new age (IPVoice) and its drive to milk its loyal customers of fees for maintenance and support of legacy infrastructure while not providing any future offerings of new VoiceIP systems.
No vision just corporate greed pervailed and should not be rewarded.