Nortel Article Analysis
At the annual shareholder meeting in Ottawa, current chief executive officer of Nortel Networks Corp., Mr.Zafirovski told shareholders that the company is finally making a come back. Although the company has been faced with significant layoffs, lawsuits, rapid executive turnover, a struggling share price and poor sales; the CEO believes that this is all in the past and that Nortel "will be a great company again". The company is facing fierce competition from new low-cost competitors in the Asian market, which has made its journey to recovery all the more difficult. Despite this Mr. Zafirovski is enthusiastic and optimistic that Nortel will become a leader in the telecommunication industry. According to the article however, shareholders remain skeptical about this rosy forecast. This comes as no surprise given the company's shady past of loses and questionable corporate governance practices (Tuck, B9).
The CEO mentioned that "Nortel Networks Corp. is poised to be a leader in a......
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