Nortel

Nortel collapsed due to a culture of arrogance

Nortel collapsed due to a culture of arroganceThe have been many explanations for the complete collapse of telecom service provider, Nortel five years ago, but experts now believe that it was due to "a culture of arrogance and even hubris".

A new analysis of the company's final decade of operations showed that the arrogant culture resulted in numerous management errors and weakened the firm's ability to adapt to changing environment.  A University of Ottawa team of professors, led by lead researcher Jonathan California have released a new detailed analysis on Monday about the collapse of the company.

There is no evidence of fraud in Nortel trail, says lawyer

There is no evidence of fraud in Nortel trail, says lawyerA lawyer representing a senior executive has said that there is no evidence that a fraud was committed at Nortel Networks Corp.

Lawyer David Porter said that this indicates that the three senior executives did not commit any fraud while making the financial statements of the company. "There is not a single instance of evidence to suggest the existence of a fraud in this case," the lawyer argued in the final argument of the trail.

Nortel plans to sell patents to pay off debts

Nortel plans to sell patents to pay off debtsThe 125-year-old Canadian icon, Nortel, under liquidation to pay off its debtors, have hinted at selling its huge inventory of 4,000 patents related to cutting-edge, next-generation wire

technology. The company has been selling its various businesses to pay off its debtors since June last year.

The Toronto-based company had filed for bankruptcy in the US and Canada in January last year after suffering huge losses and mounting debt.

Nortel's GSM business also on auction block

Nortel's GSM business also on auction blockToronto, Oct 2  Nortel, the 124-year-old Canadian telephone equipment company that is selling its various businesses to pay off its debtors, has announced to auction its GSM (global system for mobile communication) business also.

Like the previous auctions of the company's wireless business and enterprise unit, the GSM division will also be sold through "open auction", Toronto-based Nortel said in a statement here. Nortel makes equipment for GSM networks under this division.




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