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Nortel's share price falls more than 79% on the Toronto Stock Exchange. Nortel is the first major technology company to seek bankruptcy protection in this global downturn. Nortel had an interest payment of $107 million due the next day, approximately 4.6% of its cash reserves of approximately $2.3 billion.
Nortel's market capitalization fell from C$398 billion in September 2000 to less than C$5 billion in August 2002, as Nortel's stock price plunged from C$124 to C$0.47. When Nortel's stock crashed, it took with it a wide swath of Canadian investors and pension funds and left 60,000 Nortel employees
John Andrew Roth is a Canadian retired business executive.He was the chief executive officer and chairman of Nortel Networks between 1997 and 2001. While he was called "the most successful businessman in modern Canadian history" by Time magazine and named Canada's CEO of the Year by a Bay Street panel in the fall of 2000, by the ignominious end of his career it became clear that his ...
ribboncommunications .com. Ribbon Communications Inc. is a public company that makes software, IP and optical networking solutions for service providers, enterprises and critical infrastructure sectors. The company was formed in 2017, following the merger of Genband and Sonus Networks and is headquartered in Plano, Texas. [2]
It was established on September 30, 1996, through the divestiture of the former AT&T Technologies business unit of AT&T Corporation, which included Western Electric and Bell Labs. [2] Lucent was merged with Alcatel SA of France on December 1, 2006, forming Alcatel-Lucent. [3] Alcatel-Lucent was absorbed by Nokia in January 2016.
Frank Dunn. Frank A. Dunn is a Canadian business executive who was the chief executive officer of Nortel Networks. In 2007, the U.S. Securities and Exchange Commission filed civil fraud charges against him, and three former senior executives, in a wide-ranging financial fraud scheme. [1]
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