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.”