Posts tagged ‘Nortel’

The last of Nortel’s legacy sold off

Nortel’s patents sold for 4.5 billion dollars–a true indictment of the many dollars and years of R&D investment.  Some of Canada’s top scientists worked there–it truly was an innovative company (unfortunately with bad management).

It is also very sad that Nortel’s leadership, including Mike Zafirovski, did not know the true value of what they had in the company.  Also sad is the fact that our governments (federal and provincial) didn’t realize the value of this innovation to our country.  I still believe that investment into high-tech is more forward looking than investment in the automobile industry, and expecially construction.  Highly skilled knowledge workers are great for the future of the country.  Here is an article that I think sums up the loss pretty well: http://www.thestar.com/opinion/editorialopinion/article/1016391–family-jewels-frittered-away

Hoepfully this is a lesson that can be learned.  RIM is a true Canadian tech anchor–let’s hope we take to heart some of lessons from the down fall of Nortel.  I’m not talking a future bailout, but some manner of protecting the intellectual capital (patents, workers, skills) that is being developed at RIM.

Here’s hoping.

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The Importance of a Technology “Anchor”

Not a long post from me today, but just a link to an article in the Globe and Mail that explains what RIM’s misfortunes could mean for the city of Kitchener-Waterloo.  I doubt that they will become the next Nortel, but hopefully they won’t.

Silver Fox Alliance and Nortel

Another quick one (the rest of the world doesn’t stop for the election), but just wanted to point out the Silver Fox Alliance and their activity this election.  They are a group that is fighting for the rights of private sector pensions.  I hope to spend some more time to read their background–but the main thing they are fighting for is protection for private pensions.

With many Nortel pensioners as members, and the Ottawa West-Nepean riding containing many Nortel pensioners, they could represent a significant group of voters.  They aim to push Harper and the Conservatives out and are supporting Anita Vandenbeld here.

More information can be found on their website.