Timeline of Nortel

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Timeline of major events for Nortel.

Bell Telephone Company of Canada

  • 1882: A mechanical department is created within Bell Telephone Company of Canada to manufacture telephone equipment for Canada,[1][2]
  • 1886: The mechanical department starts manufacturing its first switchboard, a 50 line Standard Magneto Switchboard.[1][3]
  • 1888: The mechanical department has 50 employee .[4]
  • 1890: The mechanical department has 200 employees and a new factory is under construction.[1]
  • 1895: Northern Electric and Manufacturing Company Limited is spun off from Bell Canada [1]

Northern Electric and Manufacturing Company

  • 7 December 1895: Northern Electric and Manufacturing Company Limited is incorporated with initial stock capital of $50,000 at $100 per share, with 93 percent held by Bell Canada [5]
  • March 24, 1896: The first general stockholders meeting
  • December 1899: Bell Telephone Company of Canada buys a cabling company for $500,000 later named The Wire and Cable Company.[6]
  • 1900 Northern Electric and Manufacturing manufactures the first Canadian wind-up gramophones .[7]
  • 1911: The Wire and Cable company changes its name to the Imperial Wire and Cable Company.[8]

Northern Electric Company

  • 1913: The construction of a new manufacturing plant started at Shearer Street in Montreal, Canada, as preparations began for the two manufacturing companies' integration.
  • January 1914: the Northern Electric and Manufacturing Company and the Imperial Wire and Cable Company merge into the Northern Electric Company,
  • 1915: the new company opens the doors on a new manufacturing plant in January. This facility at Shearer Street was the primary manufacturing center until the mid-1950s.[7] Edward Fleetford Sise was the president and his brother Paul Fleetford Sise was the vice-president and general manager.[9]
  • During the First World War Northern Electric manufactured the Portable Commutator, a one-wire telegraphic switchboard for military operations in the field.
  • 1922: Northern starts to produce, for $5, the "Peanut" vacuum tube, which required only a single dry-cell battery. The use of alternating current was still under development during this time. The "Northern Electric Peanut tube was the smallest tube made, and drew only one-tenth of an ampere and was the most remarkable radio frequency amplifier ever made."[10]
  • During the 1920s: Northern Electric made kettles, toasters, cigar lighters, electric stoves, and washing machines.[11]
  • January 1923: Northern Electric starts operating an AM radio station with call letters CHYC, in the Shearer Street plant, and much of the programming was religious services for the Northern Electric employees and families in the community.
  • July 1923: CHYC-AM was the first radio station to provide entertainment to the riders of the transcontinental train, in a parlor car fitted with a radio set to receive the broadcast as it left Montreal and traveled west.[12]
  • Later1920s: Northern creats the first talking movie sound system in the British Empire for a theater in Montreal.[11]
  • 1930 – 1933 (Great Depression ): Sales drop from $34 million to $8.2 million, and the number of employees dropped from 6,100 to 2,400.[13]

Independence from Western Electric

  • 1949: an antitrust suit in the U.S. forces AT&T/Western Electric to sell its stake in Northern Electric to Bell Canada. Deprived of its Western Electric tie, Northern starts developing its own products.
  • 1953: Northern Electric produces its first television sets using tubes made by RCA.[14]
  • 1964: Bell Canada acquires 100 percent of Northern Electric
  • 1966: the Northern Electric research lab, Northern Electric Laboratories (the predecessor to Bell-Northern Research), starts looking into the possibilities of fiber optic cable
  • 1969: work begins on digitizing telephone communications.
  • 1969: Northern begins making inroads into the U.S. market with its switching systems.
  • 1972: Northern opens its first factory in the U.S. in Michigan.
  • 1975: Northern begins shipping its first digital switching systems, one of the earliest such systems to be sold.
  • Early 70’: Northern Telecom is, with Bell-Northern Research, a part owner of MicroSystems International a semiconductor manufacturer based in Kanata, outside Ottawa.

Northern Telecom and "Digital World"

  • 1976: Northern Electric Company name changed to Northern Telecom Limited.
  • 1976: "Digital World" three-page advertisement appears in major trade publications
  • 1977, Nortel introduces its DMS line of digital central office telephone switches
  • 1984: AT&T breakup
  • [year missing] Northern Telecom becomes the first non-Japanese supplier to Nippon Telegraph and Telephone

Deregulation

  • 1995: Northern Telecom becomes Nortel, the streamlined identity it adopts for its 100th anniversary.

Optical boom and the Right Angle Turn

  • 1998: company's name is changed to Nortel Networks
  • 1998: Nortel acquires Bay Networks
  • 1998: BCE ceases to be the majority shareholder of Nortel.
  • late 1990s: share price of Nortel stock reaches unheard-of levels despite the company's repeated failure to turn a profit.
  • 2000: Nortel accounts for more than a third of the total valuation of all the companies listed on the Toronto Stock Exchange (TSX), employing 94,500 worldwide, with 25,900 in Canada alone.[18]
  • 2000: BCE spins out Nortel, distributing its holdings of Nortel to its shareholders. Bell-Northern Research is gradually absorbed into Nortel.
  • 2000: John Roth (CEO) cashes in his own stock options for a personal gain of C$135 million[19]
  • 2000-2002: Nortel's market capitalization fell from C$398 billion in September 2000 to less than C$5 billion in August 2002, as Nortel's stock price plunges from C$124 to C$0.47.
  • 2001: CEO John Roth retires, replaced by Chief financial officer Frank Dunn [20]

decided to quit, however.[21]

After the Internet bubble

Frank Dunn CEO - accounting restatements

  • 2001-2003: Two-thirds of Nortel's workforce (60,000 staff) are laid off
  • 2001: writedowns of nearly US$16 billion
  • 2003: temporary return to profitability resulting in $70 million in bonuses awarded to the top 43 managers,[22] with $7.8 million going to Dunn alone,[23] $3 million to chief financial officer Douglas Beatty, and $2 million to controller Michael Gollogly.[24]
  • Independent auditor Deloitte & Touche advises audit committee chairman John Cleghorn and board chairman "Red" Wilson to look into the suspicious results, who promptly hired the law firm WilmerHale to vet the financial statements.[25]
  • October 2003, Nortel announces its intention to restate approximately $900 million of liabilities carried on its previously reported balance sheet resulting in a reduction in previously reported net losses for 2000, 2001, and 2002 and an increase in shareholders’ equity and net assets previously reported on its balance sheet.
  • A dozen of the company's most senior executives return $8.6 million of bonuses they were paid based on the erroneous accounting.
  • Investigators find about $3 billion in revenue was booked improperly in 1998, 1999, and 2000.
  • More than $2 billion is moved into later years, about $750 million pushed forward beyond 2003 and about $250 million is wiped away completely.[25]
  • 2003: Nortel reaches an agreement with Export Development Canada for it to provide Nortel with a credit support facility of up to US$750 million.[26]

[27] •

Owens and Zafirovski

  • After Dunn's firing, retired United States Admiral Bill Owens – at the time a member of the board of directors – was appointed interim CEO.
  • Nortel Networks subsequently returned to using the Nortel name for branding purposes only (the official company name was not changed).
  • June 2005: Nortel acquires PEC Solutions, a provider of information technology and telecommunications services to various government agencies and departments, and renames it Nortel Government Solutions Incorporated (NGS).[30][31]
  • August, 2005: LG Electronics and Nortel formed a joint venture, with Nortel owning 50% plus one share, to offer telecom and networking solutions in the wireline, optical, wireless and enterprise areas for South Korean and global customers.
  • Peter W. Currie, previously the Chief Financial Officer (CFO) of the Royal Bank of Canada, was named CFO of Nortel in 2005, having previously served as Northern Telecom's CFO in the 1990s.
  • Gary Daichendt, the former Chief Operating Officer of Cisco Systems, was hired as President and COO, and was expected to succeed Owens as CEO.
  • Shortly afterward, Daichendt appointed ex-Cisco Chief Science Officer Gary Kunis as Chief Technology Officer (CTO). Both Garys were concerned about the overall direction of Nortel, especially when compared to Cisco, their previous employer.
  • Just three months later, Daichendt resigned after both his restructuring plan and his suggestion that Owens and Currie leave the company immediately were rejected by the board of directors.
  • Kunis quit shortly thereafter.[32]
  • At the year's end, directors Lynton "Red" Wilson and John Cleghorn retired from the board.
  • Mike S. Zafirovski, who had served as President and CEO of GE Lighting and then as Motorola President and COO, succeeded Owens as president and CEO on November 15, 2005.[33]

• Motorola filed a suit against Zafirovski's hiring, alleging that his new position would break the terms of the non-disclosure agreement he had signed. Nortel agreed to pay $11.5 million on his behalf to settle the lawsuit.[34]

  • Nortel also paid out US$575 million and 629 million common shares in 2006 to settle a class-action lawsuit that accused the company of misleading investors about the company's health.
  • Peter W. Currie stepped down as Executive Vice President and CFO in early 2007.
  • February 2007: Nortel announces its plans to reduce its workforce by 2,000 employees, and to transfer an additional 1,000 jobs to lower-cost job sites.
  • The Securities and Exchange Commission files civil fraud charges against Nortel for accounting fraud from 2000 to 2003; the fraud was allegedly to close gaps between its true performance, its internal targets and Wall Street expectations.
  • Nortel settles the case, paying $35 million, which the Commission distributes to affected shareholders, and reportes periodically to the Commission on remedial measures to improve its financial accounting.
  • Dunn, Beatty, and Gollogly were charged in June 2008 by the RCMP for criminal fraud related to their activities in 2002–2003.[35]
  • Nortel announces plans in February 2008 to eliminate 2,100 jobs, and to transfer another 1,000 jobs to lower-cost centres.[36]
  • As part of the reductions, Nortel shut down its Calgary campus in 2009.[37]
  • During its reporting of third quarter 2008 results, Nortel announced it would restructure into three vertically-integrated business units: Enterprise, Carrier Networks, and Metro Ethernet Networks.
  • As part of the decentralization of its organization, four executive positions were eliminated, effective January 1, 2009: Chief Marketing Officer Lauren Flaherty, Chief Technology Officer John Roese, Global Services President Dietmar Wendt, and Executive Vice President Global Sales Bill Nelson.
  • A net reduction of 1,300 jobs was also announced.[38] As its stock price dropped below $1, the New York Stock Exchange notified Nortel that it would be delisted if its common shares failed to rise above $1 per share within 6 months.[39]
  • Rumours continue to persist of Nortel's poor financial health, amid the late 2000s recession, and its bids for government funds are turned down.[40]

Liquidation

Protection from creditors

  • January 14, 2009: Nortel files for protection from creditors, in the United States under Chapter 11 of the United States Bankruptcy Code, in Canada under the Companies' Creditors Arrangement Act, and in the United Kingdom under the Insolvency Act 1986.[41][42][43]
  • Nortel's share price falls more than 79% on the Toronto Stock Exchange.
  • Nortel is the first major technology company to seek bankruptcy protection in this global downturn.[44]
  • Nortel had an interest payment of $107 million due the next day, approximately 4.6% of its cash reserves of approximately $2.3 billion.[45]
  • Export Development Canada agrees to provide up to C$30 million in short-term financing through its existing credit support facility with Nortel.
  • The Canadian government resistes characterizing its position on Nortel as a bailout.[46]
  • Nortel pays out retention bonuses to almost 1,000 top executives, totalling up to US$45 million.[47]
  • Severance payments to employees laid off prior to the creditor protection filing are being withheld.
  • End of January 2009: Nortel announces that it would be discontinuing its WiMAX business and its joint agreement with Alvarion.[48][49]
  • Nortel sells its Layer 4–7 application delivery business to Israeli technology firm Radware for $18 million, after Radware has initially placed a stalking horse bid.[50][51] Nortel had acquired the application switch product line in October 2000 when it purchased Alteon WebSystems.[52]

Wind-up

  • June 2009: Nortel announces that it no longer plans to emerge from bankruptcy protection, and is seeking buyers for all of its business units.[53][54]
  • June 26, 2009 : Nortel shares are delisted from the Toronto Stock Exchange at a price of $0.185 per share.[54][55][56]
  • August 2009: Mike Zafirovski resigns
  • August 2009: Nortel's board of directors reorganized with three members instead of nine.[57]
  • 2009: Nortel hands out $14.2 million in cash compensation to seven executives
  • 2009: Nortel pays out $1.4 million to 10 former and current directors
  • 2009: Nortel pays $140 million to lawyers, pension, human resources and financial experts helping to oversee the company’s bankruptcy proceedings.[58]
  • July 2009: Ericsson purchases Nortel's CDMA and LTE assets for $1.13 billion in an auction.[59][60][61]
  • July 20, 2009: Avaya wins an auction for Nortel's Enterprise Solutions business, including Nortel's stake in Nortel Government Solutions and DiamondWare, for $900 million,[62] after having placed a stalking horse bid of $475 million.[63]
  • November 2009: Nortel sells its MEN (Metro Ethernet Networks) unit to Ciena Corporation for US$530 million in cash and US$239 million in convertible notes,[64][65]
  • November 2009: Nortel sells its GSM business at auction to Ericsson and Kapsch for US$103 million.[66][67][68][69]
  • December 8, 2009:Hitachi purchases the Next Generation Packet Core assets.[70]
  • December 2009: John Roth (former CEO )files for a US$1 billion indemnification from Nortel, joining the list of U.S. creditors.[71]
  • February 2010: Ernst & Young, the court-appointed monitor of Nortel's Canadian bankruptcy proceedings, reports that the assets of Nortel's Health and Welfare Trust had a shortfall of $37 million in its net assets as of December 31, 2008. The trust supports pensioners' medical, dental and life insurance benefits, as well as income support for some groups such as long-term disability recipients.[72]
  • February 2010: Nortel negotiates a $57-million deal to wind up the health care and other benefits provided to former Canadian employees.
  • February 2010: Nortel proposes spending $92.3M on retention bonuses for 1,475 employees in its Nortel Business Services and Corporate groups, with $2.5 million in incentives going to Christopher Ricaute, president of Nortel Business Services; $27 million allocated for Canadian employees; and $55 million allocated for U.S. employees.[73][74]
  • March 2010: US trustee Roberta DeAngelis objects to the payment of $55.6 million to 866 employees.[75]
  • Court-appointed representatives for Nortel's former employees in Canada, who are creditors in the Ontario bankruptcy court, have signed an agreement to not oppose any employee incentive program.
  • May 2010: Genband purchases the Carrier VoIP and Application Solutions (CVAS) unit, as Nortel accepted its stalking horse bid of $282 million, with adjustments that decreased the net sale price to about $100 million, without a formal bidding process.[76][77][78]
  • June 2010: Ericsson purchases Nortel's share in its joint venture with LG Electronics for US$242 million, forming LG-Ericsson.[79][80]
  • September 2010 : Ericsson purchases Nortel's final operating unit, the Multi-Service Switch division, for US$65 million.[81][82][83]
  • October 2010 : Nortel's Ottawa campus on Carling Avenue is purchased by Public Works and Government Services Canada (PWGSC) for a cash purchase price of CDN$208 million.[84]
  • December 2010: Nortel's 53.13% stake in Turkish company Nortel Netaş was acquired by One Equity Partners (OEP) and Rhea Investments for $68 million.[85][86]
  • approximately 6,000 patents and patent applications encompassing technologies such as wireless, wireless 4G, data networking, optical, voice, Internet, and semiconductors, are sold for $4.5 billion to a consortium including Apple, EMC, Ericsson, Microsoft, Research In Motion, and Sony, pending American and Canadian court approval.[87][88](Google had placed the initial stalking horse bid of $900 million[89] and later upped the bid to $1,902,160,540, then $2,614,972,128, and eventually $3.14159 billion, which are references to Brun's constant, Meissel–Mertens constant, and pi.)[90]
  • October 2011: Bankruptcy filings state that Nortel owes former Canadian engineers $285,000 for patent awards that were not paid.[91]
  • October 2011, the administrators of Nortel's British subsidiary lose their appeal to overturn a court order requiring them to pay £2.1 billion into Nortel's underfunded pension plan.[92]

References

  1. ↑ 1.0 1.1 1.2 1.3 Nortel Networks (2008). "Corporate information: Nortel History – 1874 to 1899". Nortel Networks. Retrieved April 30, 2009. 
  2. ↑ Murphy, George Joseph (1993). A History of Canadian Accounting Thought and Practice. Taylor & Francis. p. 82. ISBN 978-0-8153-1248-2. 
  3. ↑ Rens & Roth 2001, p. 129.
  4. ↑ Rens & Roth 2001, p. 129-132.
  5. ↑ Canadian Parliament (1896). Sessional Papers. 29. C. H. Parmelee. p. 34. 
  6. ↑ Babe, Robert E. (1990). Telecommunications in Canada: technology, industry, and government. University of Toronto Press. p. 177. ISBN 9780802067388. 
  7. ↑ 7.0 7.1 Nortel Networks (2009). "Corporate information: Nortel History – 1900 to 1919". Nortel Networks. Retrieved April 3, 2009. 
  8. ↑ Rens & Roth 2001, p. 132.
  9. ↑ Rens & Roth 2001, pp. 129–132.
  10. ↑ Lewis, H. Spencer (1998). The Mystic Triangle: A Modern Magazine of Rosicrucian Philosophy. Kessinger Publishing. ISBN 9780766107052. Template:Fix/category[verification needed]
  11. ↑ 11.0 11.1 Nortel Networks (2009). "Corporate information: Nortel History – 1920 to 1929". Nortel Networks. Retrieved April 3, 2009. 
  12. ↑ Rens & Roth 2001, p. 197.
  13. ↑ Chapuis, Robert J.; Joel, Amos E. (2003). 100 Years of Telephone Switching: Manual and Electromechanical Switching, 1878-1960's (2, illustrated ed.). IOS Press. p. 282. ISBN 9781586033491. 
  14. ↑ Nortel Networks (2007). "Corporate information: Nortel History – 1950 to 1959". Nortel Networks. Retrieved November 17, 2007. 
  15. ↑ "Northern Electric – A Brief History". Retrieved September 12, 2006. 
  16. ↑ Rens, Jean-Guy (2007). "Canada and the Birth of the Digital World: The Contributions of R. Charles Terreault". Canada's Telecommunications Hall of Fame. Retrieved October 14, 2007. 
  17. ↑ Oliver, Richard; Scheffinan, David (1995). "The Regulation of Vertical Relationships in the US Telecommunications Industry" (PDF). Managerial and Decision Economics. 16 (4): 327–348. doi:10.1002/mde.4090160407. 
  18. ↑ Wahl, Andrew (March 24, 2009). "The good, the bad and the ugly: Nortel Networks". Canadian Business magazine. Retrieved July 28, 2009. 
  19. ↑ "New board 'is an improvement by a mile'". Globe and Advisor. January 12, 2005. Retrieved March 12, 2011. 
  20. ↑ "Nortel COO takes medical leave". CBC News. Canadian Broadcasting Corporation. March 13, 2001. Retrieved December 15, 2011. 
  21. ↑ Karleff, Ian (May 21, 2001). "Search for New CEO Launched by Nortel". Los Angeles Times. Retrieved December 15, 2011. 
  22. ↑ McFarland, Janet (January 20, 2012). "No business reason to release Nortel reserves, court told". The Globe and Mail. Toronto. 
  23. ↑ Lewis, Michael (January 18, 2012). "Nortel trial: Letters show Nortel execs knew they were getting bonuses fraudulently, Crown alleges". The Star. Toronto. 
  24. ↑ "Nortel execs were getting bonuses fraudulently: Crown |". CTV News. January 18, 2012. Retrieved 2012-05-26. 
  25. ↑ 25.0 25.1 https://web.archive.org/web/20100222095656/http://www.financialpost.com/story.html?id=2173704. Archived from the original on February 22, 2010. Retrieved July 24, 2012.  Missing or empty |title= (help)
  26. ↑ "Nortel Networks Announces US$750 Million Support Facility with EDC and Details of Special Matters to be Considered at Upcoming Shareholders Meeting" (Press release). Nortel Networks Corporation. February 14, 2003. Retrieved December 9, 2009. 
  27. ↑ McKibbon, Sean (February 16, 2003). "Bailout Billion; Taxpayers to prop up mega-loser Nortel". Winnipeg Sun. Winnipeg: Sun Media. p. 8. 
  28. ↑ 28.0 28.1 "Top former Nortel execs charged with fraud". Ottawa Citizen. CanWest MediaWorks Publications. June 20, 2008. Retrieved October 7, 2011. 
  29. ↑ Postmedia News (October 3, 2011). "Nortel criminal trial to begin Jan. 16". Montreal Gazette. Retrieved October 3, 2011. 
  30. ↑ Nortel Government Solutions (2008). "Corporate Information: Nortel Government Solutions". Nortel Government Solutions. Retrieved June 1, 2008. 
  31. ↑ "Nortel to Buy PEC Solutions For $448 Million". Washington Post. April 27, 2005. Retrieved January 11, 2012. 
  32. ↑ [1]Template:Fix/category[dead link]
  33. ↑ "Nortel Announces Mike Zafirovski as President and CEO" (Press release). Nortel Networks. October 17, 2005. Retrieved June 1, 2008. 
  34. ↑ McMillan, Robert (October 31, 2005). "Motorola, Nortel settle Zafirovski dispute". infoworld.com. Retrieved September 5, 2006. 
  35. ↑ Austen, Ian (June 20, 2008). "3 Ex-Nortel Executives Are Accused of Fraud". The New York Times. Retrieved June 25, 2008. 
  36. ↑ "Nortel cutting 2,100 jobs". CBC News. Canadian Broadcasting Corporation. February 27, 2008. Retrieved June 1, 2008. 
  37. ↑ "Nortel to close Calgary operations". CBC News. Canadian Broadcasting Corporation. May 27, 2008. Retrieved June 1, 2008. 
  38. ↑ "Nortel Reports Financial Results for the Third Quarter 2008" (Press release). Nortel Networks. November 10, 2008. Retrieved November 11, 2008. 
  39. ↑ "Nortel gets delisting warning from NYSE". Triangle Business Journal. December 12, 2008. Retrieved December 14, 2008. 
  40. ↑ "Who killed Nortel?". National Post. January 9, 2009. Retrieved August 14, 2010. 
  41. ↑ "Nortel Obtains Court Orders for Creditor Protection" (Press release). Nortel Networks Corporation. January 14, 2009. Retrieved January 14, 2009. 
  42. ↑ Ricknäs, Mikael (January 14, 2009). "Nortel files for Chapter 11 bankruptcy protection". Computerworld. International Data Group. Retrieved January 15, 2009. 
  43. ↑ Greene, Tim (January 14, 2009). "Nortel bankruptcy filings are last-ditch effort". Network World. Retrieved January 15, 2009. 
  44. ↑ "Canada's Nortel to sell itself off in pieces". Jerusalem Post. June 22, 2009. Archived from the original on June 4, 2011. Retrieved March 12, 2011. 
  45. ↑ "Nortel Networks files for bankruptcy protection". CBC News. Canadian Broadcasting Corporation. January 14, 2009. Retrieved January 14, 2009. Template:Fix/category[dead link]
  46. ↑ Palmer, Randall (January 14, 2009). "Canada government pledges to help Nortel". Reuters. 
  47. ↑ Hill, Bert (March 1, 2009). "Nortel pays big bonuses to keep execs". National Post. Retrieved March 3, 2010. 
  48. ↑ "Nortel Refines Focus of Carrier Business: Ends Joint Agreement with Alvarion for Mobile WiMAX" (Press release). Nortel Networks. January 29, 2009. Retrieved January 31, 2009. 
  49. ↑ Drew, Jeff (January 30, 2009). "Nortel getting out of WiMAX". Triangle Business Journal. American City Business Journals. Retrieved January 31, 2009. 
  50. ↑ "Radware buys Nortel product line". Globes [online]. February 32, 20092. Retrieved February 21, 2009.  Check date values in: |date= (help)
  51. ↑ "Nortel Completes Divestiture of Certain L4-7 Data Assets to Radware" (Press release). Nortel Networks. March 31, 2009. Retrieved July 25, 2009. 
  52. ↑ "Nortel to Divest Layer 4–7 Data Portfolio: Enters into Asset Purchase Agreement with Radware" (Press release). Nortel Networks. February 19, 2009. Retrieved February 22, 2009. 
  53. ↑ "NP Story". National Post. Retrieved August 14, 2010. Template:Fix/category[dead link]
  54. ↑ 54.0 54.1 "Nortel To Sell CDMA Business and LTE Assets; Company Advancing in Its Discussions With External Parties To Sell Other Businesses" (Press release). Nortel Networks. June 19, 2009. Retrieved June 19, 2009. 
  55. ↑ "It's official: Nortel shares are worthless". The Globe and Mail. June 22, 2009. Retrieved June 22, 2009. 
  56. ↑ Tedesco, Theresa; Sturgeon, Jamie (June 27, 2009). "Nortel: Cautionary tale of a former Canadian titan". Canada.com. Canwest Publishing. Archived from the original on November 7, 2012. Retrieved July 25, 2009. 
  57. ↑ "Nortel Announces Board of Directors, Management Team and Organizational Changes" (Press release). Nortel Networks Corporation. August 10, 2009. Retrieved August 10, 2009. 
  58. ↑ "Bankrupt Telecom Company Doled Out $8.6M in Bonuses Last Year". Phone Plus Magazine. March 19, 2010. Retrieved March 12, 2011. 
  59. ↑ Bagnall, James (July 24, 2009). "Moment of truth for Nortel's wireless unit". Ottawa Citizen. Retrieved July 25, 2009. 
  60. ↑ "Nortel Selects Ericsson as Successful Bidder For CDMA Business and LTE Access Assets" (Press release). Nortel Networks. July 25, 2009. Retrieved July 25, 2009. 
  61. ↑ Bagnall, James (July 25, 2009). "Ericsson prevails in fight for Nortel's wireless business with $1.13B bid". Ottawa Citizen. Retrieved July 25, 2009. Template:Fix/category[dead link]
  62. ↑ "Nortel selects Avaya as successful bidder for Enterprise Solutions Business." (Press release). Nortel Networks Corporation. September 14, 2009. 
  63. ↑ "Nortel To Sell Enterprise Solutions Business" (Press release). Nortel Networks Corporation. July 20, 2009. Retrieved July 21, 2009. 
  64. ↑ "Nortel Selects Ciena as Successful Bidder for Optical Networking and Carrier Ethernet Businesses" (Press release). Nortel Networks Corporation. November 23, 2009. Retrieved December 20, 2009. 
  65. ↑ Musgrove, Mike (November 24, 2009). "Ciena buys Nortel unit to expand footprint". The Washington Post. WashTech. Archived from the original on November 24, 2009. Retrieved November 24, 2009. subtitle: $769 million deal to triple Maryland tech firm's market share 
  66. ↑ "Nortel Selects Ericsson and Kapsch as Successful Bidders for GSM/GSM-R Business" (Press release). Nortel Networks Corporation. November 25, 2009. Retrieved December 20, 2009. 
  67. ↑ "Nortel Announces Plans to Sell its GSM/GSM-R Business" (Press release). Nortel Networks Corporation. September 30, 2009. Retrieved October 1, 2009. 
  68. ↑ "Nortel to sell Entire GSM Business". Business2press. Retrieved March 12, 2011. 
  69. ↑ "Nortel Provides Update on Auction Date for the Sale of its GSM/GSM-R Business; Obtains Further Extension of Stay Period Under CCAA; and Obtains Canadian and U.S. Court Approval for Sale of Packet Core Assets" (Press release). Nortel Networks Corporation. October 28, 2009. Retrieved November 14, 2009. 
  70. ↑ "Nortel Completes Sale of Assets of Next Generation Packet Core Network Components to Hitachi". Nortel Networks Corporation. August 10, 2009. Retrieved March 12, 2011. 
  71. ↑ "John Roth seeks $1B protection from lawsuits". CBC News. Canadian Broadcast Corporation. December 17, 2009. 
  72. ↑ Hill, Bert (February 23, 2010). "Nortel leaves $37M health-fund gap". Ottawa Citizen. Retrieved January 3, 2010. 
  73. ↑ Hill, Bert (February 12, 2010). "Nortel allots $92.3M for top staff; Retention bonuses 'standard procedure' for key workers in bankruptcy proceedings". Ottawa Citizen. p. F.1. 
  74. ↑ Hill, Bert (February 24, 2010). "Retention plan gives Nortel added flexibility". Ottawa Citizen. p. C.1. 
  75. ↑ "Nortel's Proposed Incentive Payments Opposed by U.S. Trustee". Business Week. March 3, 2010. Retrieved March 12, 2011. 
  76. ↑ "Nortel Completes Sale of Carrier VoIP and Application Solutions Business to GENBAND" (Press release). Nortel Networks Corporation. May 28, 2010. Retrieved October 20, 2010. 
  77. ↑ "Nortel to Sell Carrier VoIP and Application Solutions Business" (Press release). Nortel Networks Corporation. December 23, 2009. Retrieved January 5, 2010. 
  78. ↑ Le Maistre, Ray (December 23, 2009). "Genband Bids $282M for Nortel's VoIP Unit". Light Reading. Retrieved January 5, 2010. 
  79. ↑ "Acquisition of Nortel's stake of LG-Nortel completed" (Press release). Ericsson. June 30, 2010. Retrieved October 20, 2010. 
  80. ↑ "Nortel Completes Sale of Shares in LG-Nortel to Ericsson" (Press release). Nortel Networks Corporation. June 29, 2010. Retrieved October 20, 2010. 
  81. ↑ "Acquisition of Nortel's Multi-Service Switch business" (Press release). Ericsson. September 25, 2010. Retrieved October 20, 2010. 
  82. ↑ "Nortel Announces Ericsson as Successful Acquirer of Its Multi Service Switch Business" (Press release). Nortel Networks Corporation. September 25, 2010. Retrieved October 20, 2010. 
  83. ↑ Hill, Bert (September 26, 2010). "Ericsson beats Ottawa bidders for last big Nortel division". Ottawa Citizen. Retrieved October 20, 2010. 
  84. ↑ "Nortel To Sell Ottawa Carling Campus To Public Works and Government Services Canada" (Press release). Nortel Networks Corporation. October 19, 2010. Retrieved December 31, 2010. 
  85. ↑ "One Equity continues pursuit of liquidated Nortel assets". privateequityconnect.com. Retrieved April 21, 2011. 
  86. ↑ "Nortel Networks (Netas) Acquisition by OEP" (Press release). Paksoy. Retrieved April 21, 2011. 
  87. ↑ Musil, Steven (June 30, 2011). "Apple, RIM in group buying Nortel patents for $4.5B". CNET. CBS Interactive. Retrieved October 7, 2011. 
  88. ↑ "Nortel sells patents to consortium for $4.5B". Associated Press. July 1, 2011. 
  89. ↑ Marlow, Iain (April 4, 2011). "Bid for Nortel patents marks Google's new push into mobile world". The Globe and Mail. Toronto. 
  90. ↑ Damouni, Nadia (July 1, 2011). "Dealtalk: Google bid "pi" for Nortel patents and lost". Reuters. Retrieved July 2, 2011. 
  91. ↑ Hill, Bert (October 5, 2011). "In patent wars, the casualty is progress". Ottawa Citizen. Retrieved October 20, 2011. Template:Fix/category[dead link]
  92. ↑ Chellel, Kit (October 15, 2011). "Lehman, Nortel lose $3.5B pension appeal". Ottawa Citizen. Archived from the original on February 7, 2012. Retrieved October 20, 2011. 
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