Buying into the new economy: CEO uses acquisitions to turn Nortel into a huge player in technology for the Web

Article Abstract:

In an interview, Nortel Networks Corp. CEO John Roth discusses his strategic plans for the company, including the sale of Nortel's optical components division to Corning Inc. Roth is a CEO with foresight, managing to take an 'Old Economy' Canadian company and turning it into a force in the 'New Economy.' The company is known for fast changes and large transactions which have kept it competitive as the market has changed.

Asset sales & divestitures, Strategy & planning, Acquisitions & mergers, Optical Instrument and Lens Manufacturing, Optical instruments and lenses, Optical Components ex Lenses, Mergers, acquisitions and divestments, Company acquisition/merger, Interview, Corning Inc., GLW, Optical instruments industry, Optical industry, Company analysis, Optical components

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Nortel's losses widen; 5,000 more jobs to be cut

Article Abstract:

Nortel Networks announced pessimism over future earnings as they reported a $2.58 billion loss for the first quarter, at 82 cents a share. The operating loss was $385 billion and revenue dropped to $6.18 billion. Nortel is meeting an economic slowdown and lagging orders with a proposed layoff of 20,000 by mid-summer. The company saw 38% growth outside of Canada and the U.S. and is expecting an upsurge in wireless networking.

Sales, profits & dividends, Statistical Data Included, Finance

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