Wait a minute; did you read Nortel was filing for Chapter 7? No, you didn't. It's a big difference. Yet competitors remain skeptical, readers in their posts carry some disdain towards Nortel's past and still there are "the others" hoping Nortel will die, go away, get buried...Still Who maintains all that Nortel gear anyway? Nortel?
Of course the loss of Nortel wouldn't be welcomed by many, including the Social Security Administration who've been loyal Nortel users a long time. Then to even think how the SSA would even begin to complete its implementation contract with Nortel is I think the biggest concern next to will Nortel be here tomorrow?
Nortel's chances for "credit" extension (Chapter 11), I think are better than most. Maybe not as good as GM's, Ford's, Chrysler's...but better than what you may think.
Yesterday, the International Nortel Networks Users Association (INNUA) sent out a release with some comments:
"INNUA represents thousands of Nortel's customers who remain committed to Nortel solutions. The majority of our members have been Nortel customers for more than 10 years. We appreciate how proactive Nortel has been with this decision and their affirmation of the support for their customers during this time," said INNUA President, Steve Ford. "We fully support Nortel's decision and trust it will bring an even stronger focus to the enterprise solution set."
Now I'd be remiss not to cite that the majority of insider trading is for SELLING and not BUYING Nortel stock. Still, Mr. Zafirovski, President/CEO of Nortel put in some skin--$1M big ones. I don't think that's blind faith and whether or not you like or dislike Mr. Z isn't relevant, unless of course you're putting your skin on the line or your own money into Nortel. That counts.
Even on the brink--Nortel's big following remains loyal. Remember what I said previously, "Nortel has a name" and a longstanding one at that. It ain't over til it's over and even if it is (over) it won't be. Nortel gear will stay in place longer than what the naysayers will admit or want. Nortel won't go away for a long time even if they do. "Legacy" will always be associated with Nortel.
