It amazes me how a company that has done so well at one point can take a nose dive. Maybe the last CEO? It would make sense to me that with money you can make more money... assuming you don't mess up!
Wednesday, January 14, 2009
Feds throw $30 million to NORTEL
It amazes me how a company that has done so well at one point can take a nose dive. Maybe the last CEO? It would make sense to me that with money you can make more money... assuming you don't mess up!
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They filed for bankruptcy protection in the United States (Jan. 14 '09) and they're set to do the same in Canada [http://www.cfra.com/?cat=2&nid=62420]. They must also repay a $107 million interest debt on bonds later this week, so I'm not sure how that $30 million will help put them back on their feet. Is it really worthwhile to do so in the first place?
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