Ok so I am here in Montreal, Canada at the moment doing some verification testing with Nortel on some of their optical equipment. I was last here in 2006 and had a flying visit to the Ottawa campus in 2004 and the places are a shadow of their former self. It is horrendous to see what apparent & alleged corporate mis-management can do to a once giant of the industry.
Much the same could be said of Marconi who were “rescued” as such by my current employer Ericsson. Unfortunately the world is watching as other institutions this time in the finance sector are failing, perhaps also as a result of poor decisions in the past.
Perhaps there is a glimmer of light for Nortel in the future, their optical portfolio is strong, the technology is sound, but whether the company is as robust as the technology they are developing and selling is another question.
I normally refrain from these sorts of posts, in fact recently I have refrained from all posts on my blog! but being here this week and seeing the sea-change in the size and scale of the operation from just 3 years ago is somewhat disturbing. It makes me think, I hope my bosses are being prudent and not taking uncalculated risks with not just their livelihoods but that of thousands of others.
Perhaps a better sense of financial management is going to be the positive aspect of this Credit Crunch for both corporations and the individual alike.