Nortel Files for Chp. 11....here it comes
 

1 down, who will be the next giant to fall?

http://www.citynews.ca/news/news_30963.aspx

"...Telecom giant Nortel Networks filed for Chapter 11 in a U.S. bankruptcy court Wednesday, the move coming just after shares in the company were halted on the TSX."

Nortel has been on deathwatch for years to be honest.... this is not surprising.

Be gone! Sick of hearing about them!

Sprint coming soon...

Sprint needs a name change to "jog".

it had to happen, should have happend a few years ago.

I guess everyone saw that one coming. Nortel has been down for years, with the current crisis, it must have been tough for them to get new loans and all.

:2 cents:

There will be plenty of these in the coming months...

nortel got lazy they where not innovative they had a good solid product line but never grew from it they got way to comfy. there are totally new players now in the telecom hardware game and most where not around 10 years ago. :2 cents:

2009 will be year full of this.