Thursday, December 11, 2008

Nortel may file for bankruptcy!


Nortel Networks Corp.'s contemplation of a bankruptcy filing comes after years of strategic missteps, accounting scandals and failed restructurings that have reduced the company, once one of Canada's flagships, to a shadow of its former self.

Nortel once boasted a stratospheric market value of $250 billion, when speculators overestimated demand for fiber-optic networks to carry Internet and video traffic around the world. That bubble burst in 2000, and Nortel has spent the better part of a decade trying, unsuccessfully, to get back on its feet.


WSJ

I really, really hate my typos :-|

No comments yet