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I guess this was to be expected… Today Nortel has filed for bankruptcy protection, and this makes me sad for several reasons.
Being from Ottawa, Nortel was always this giant that I was really proud to have in my back yard. As a kid, Nortel was the emblem of innovation and a company that many people were aspiring to someday have the chance to work at.
Later, it was my turn to work there for a summer, between high school and university… and it was the best summer job I’ve ever had. Developing leading edge software solutions was fantastic and I learned a LOT, but the experience was particularly great because my best friend also worked there at the same time.
I also owe Nortel a lot because they paid a good chunk of my university tuition fees through generous scholarships… Not only have they helped me personally, they were also gave a lot of money to the University of Ottawa’s School of Information Technology and Engineering, which built a new building when I was still in my second year. Finally Nortel contributed directly to shape up the curriculum of my software engineering degree.
So Nortel and I go way back… And for all these reasons – not to mention the many friends I have still working there – I hope they will emerge from bankruptcy victorious and proud.
JLD what’s up brother? Good piece, I too did some work for Nortel, albeit mine was during my consultant lifetime and here in the states. I wholeheartedly agree with your assessment of the people. I couldn’t have asked for more knowledgable, involved employees and managers…very impressive!
This bankruptcy is unfortunate but needed and sadly enough it won’t be the last for such firms in this environ. As an MBA I’ve always been focused on the P&L and credible forecasting. Two critical strategic components that allow a business to make the right moves at the right time with the right perspective.
kt