Buried in Todays News:Nortel Shares Plunge

Nortel shares plunge on bankruptcy advice report

Shares in Nortel Networks fell 20 per cent amid reports that North America’s biggest telephone equipment maker has sought bankruptcy protection advice.

A Nortel spokesman confirmed that the struggling company, once a technology powerhouse, had engaged advisors to help plot its way of financial trouble. "No bankruptcy filing is imminent," he added.

business.timesonline.co.uk...

Here is a list of Nortel services:Customer Contact
Computer Telephony Integration (CTI)
IP Contact Center
Multimedia Customer Contact
Self-Service


LAN, MAN & WAN
Application Switching & Optimization
Ethernet & Metro Routing Switches
Multiservice Switches
Network Management
Secure Routers
WLAN

Optical Networks
Multiservice SONET/SDH
Network Management
Optical Ethernet
Optical Switches
Storage Connectivity
WAN Optimization
Wavelength Division Multiplexers


Phones, Clients & Accessories
Business Series Phones
Digital Phones
IP Phones & Clients
Wireless Phones


Security & VPN
Firewalls
Intrusion Prevention
Network Access Control
Network Management
Secure Routers
Security
VPN

Voice, Multimedia & Unified Communications
Communication & Application Servers
Digital Voice Switches
IP Multimedia Subsystem (IMS)
IP-Enabled & Pure IP Carrier Networks
IP-Enabled & Pure IP Enterprise Networks
Network Management
PBXs & Key Systems
Services & Applications
Wireless for SMB


Wireless Networks
CDMA Networks
GSM & UMTS Networks
IP Multimedia Subsystem (IMS)
Municipal Wireless
WLAN
WiMAX
Wireless Mesh products.nortel.com...


This is not a good thing. To have the worlds largest telecom manufacturer look at Bankruptcy is a dire warning of what else may fall in the near future.

Is this the beginning of the second wave of bankruptcy? The tip of the iceberg?

Or is it an isolated event, simply a blip in the 10 day mini bull market?







[edit on 10-12-2008 by whiteraven]

www.financialpost.com...

Nexen to cut budget by $400-million, could go further

also

Office Depot shutting 112 stores, including one in Edmonton

www.edmontonsun.com...

also

www.bloomberg.com...

Rio Cuts 14,000 Jobs, Spending as Demand Falters (Correct)

also buried

China’s Exports Decline for First Time in 7 Years (Update2

www.bloomberg.com...

Russian Economy to Sink Into Recession, Barclays Says (Update1

www.bloomberg.com...

The Idea Behind This Thread


As the nations are captivated by OJ Simpson, The Illinois Governor, The Court hearing Obama's case we may have a lot of dirty laundery aired.

Planned or not having a big blow up as we do in Illinois is a great time to air some dirty laundery as it slips under the radar so to speak.

If anyone else has come across anything important buried in the news please feel free to post the link and a comment concerning the link.

Another interesting story buried....

India's Car Sales Plunge Most in Five Years on Loans

Dec. 10 (Bloomberg) -- India's passenger-car sales declined 19 percent last month, the most in more than five years, as tighter lending by banks and a slowing economy hurt demand.

www.bloomberg.com...

[edit on 10-12-2008 by whiteraven]

And this may be a thorn in the side of somebody..

The Dreier Case: Where's All The Money?



When the prominent lawyer was arrested, tens of millions of client funds were missing from escrow accounts

The bizarre circumstances of Marc Dreier's arrests in Canada and New York in the last week, and accusations of a brazen $113 million fraud may ultimately take a backseat to a bigger question emerging from the saga: Where did all the money go?

The Harvard- and Yale-educated litigator has, until now, led a high-octane career, with stints at Fulbright & Jaworski and Rosenman & Colin before founding his own firm in 1996. His personal life has been described as opulent, with homes in Manhattan and the Hamptons and a 120-foot yacht.

www.forbes.com...



[edit on 10-12-2008 by whiteraven]

reply to post by whiteraven


Well I may be the only one interested in this strange little project as I see nation changing events taking place with nary a whisper from the populace.

Of course the circus in Chicago has everybodies interest.


This is in Australia...

Australia Jobless Rate Rises as Employers Cut Workers

www.bloomberg.com...

It seems every region of the world is in a economic shrinkage.

S. African Retail Sales Fall, Adds to Rate Cut Hopes

South African retail sales fell for the sixth consecutive month in October, dropping an annual 2.3 percent, easing price pressures and giving the central bank more room to cut interest rates tomorrow.

www.bloomberg.com...

What about South America?

NOPE.

South America seems to be doing OK??

Brazil’s Bovespa Index Rises to Highest in Month; Bolsa Gains

Dec. 10 (Bloomberg) -- Brazilian stocks rose to a one-month high, led by homebuilders and commodity producers, as traders increased bets the central bank may start easing borrowing costs today and metal and oil prices rallied.

www.bloomberg.com...

Panama to Maintain Growth Amid Crisis, Torrijos Says

Panamanian President Martin Torrijos said his country will maintain high levels of growth and a low jobless rate next year even as the credit crisis triggers a worldwide economic slowdown.

also

www.bloomberg.com...

Thats a wierd little blip in a cess pool of badnews.

[edit on 10-12-2008 by whiteraven]

Wal Mart news.........

Wal-Mart Workers in Canada Store Granted Union Status

Dec. 9 (Bloomberg) -- Dec. 9 (Bloomberg) -- Workers at a Wal-Mart Stores Inc. outlet in Canada will be represented by a union after more than four years of legal challenges by the retailer, the United Food and Commercial Workers said.

The Saskatchewan Labour Relations Board granted union status yesterday to workers at a store in Weyburn, Saskatchewan, the group said in a statement today. The application was submitted in April 2004.

Employees at three of the Bentonville, Arkansas-based retailer’s locations in Quebec are already represented by the union. Applications for unionization of two others in Saskatchewan are before the labor board.

www.bloomberg.com...

UNION at Wal Mart?
Thats a gem...better get Harrison from Atlanta on the case.

There is just NO reason why the markets end up positive,when there is just no good financial news,this bailout of the automakers will surely drop the bottom out if it fails in congress,i in no way want this to happen, but if it will,best get on with it and over it,why in hell they are steeling from hardworking taxpayers is beyond me,the dollar is and will fall,they need to borrow to spend it now.

Wow, Nortel in trouble? That's my former employer, from a few years back and they were awash with cash then.

I don't think they'd ever go under though, we have litterally thousands of Nortel elements in our SDH network and I dread to think what would happen if Nortel folded. Although Marconi or Ericcson could make a swoop, as they are doing pretty well with the new MSPP devices going in, Nortel have been left behind in that regard.

This getting scary, I have been a Telco tech for 22 yrs and only work on Nortel equipment, on the voice side of things BCM,Norstar,M1 and now on the CS1000 series PABX, I can't see it happening, I beleive I read somewhere that the may consider asking the Canadian goverment for a bailout, and that would make sense, Canada's entire telecommunications infastructure is Nortel.

The current Circus sideshow taking place in Illinois continues.

I would imagine that if I was in charge of side show acts for the PTB I would be busy working on a few new acts for future periods of dirty laundry.

Here are some of todays interesting tidbits:

World Bank: Global recession possible next year

The international banking crisis that erupted in September after more than a year of less acute financial turmoil has substantially reinforced the cyclical downturn that was already under way, the bank said in a report devoted to assessing economic prospects for 2009.

hosted.ap.org...

Does this mean Global war next?

First Act Great Depresion...1930...Second Act ....WW2..1940's..third act...Sock Hop at Richy Cunninghams.....1950's.. What is past is prologue.

news.bbc.co.uk...
Russian ship sails through Panama

A Russian warship has sailed through the Panama Canal for the first time since World War II.

Ethiopian troops launch major offensives against Islamist insurgents in Somalia

www.csmonitor.com...

famine....in Ethiopea in the 80's....give them food/aid/guns.....train and feed .....send them to war.

[edit on 11-12-2008 by whiteraven]

The Wild Bunch final Shootout in Mexico

Two years after its launch, Mexicans question President Calderón's drug war...Drug-trafficking deaths have skyrocketed by more than 117 percent in 2008.

www.csmonitor.com...

Meanwhile up in the Great White North
The Triads Final Shootout in Canada

Gang war won't end until rivals are 'all dead'

www.canada.com...

What about way down south...how does the coca trade fare in these times?

Colombian youth count cost of coca

The Amazon rainforest in the Colombian department of Putumayo hides many of the hardships that exist beneath its canopies.

Much of the dense jungle in the south of the country is territory of the now-faltering Revolutionary Armed Forces of Colombia (Farc) armed campaign and a centre for drug production.

The town of Puerto Asis, with its small airport, is a main access point to the sprawling region, about the size of Rwanda.

It is here,that 14-year-old Edward Saul Thomas is eking out a living.

Hazardous occupation

Typically he works to produce coca base, the product which is made into coc aine.

But recent times have been harder than usual for the campesinos, or peasants, of the region.


Coca growing has reduced in the targeted Putumayo state but has increased nationally
For about 30 years they have lived off the proceeds of the coca plant picking the leaf and making coca base.

Not a child'

But still he says sees the benefits of harvesting coca.

"It's better to pick coca and make base than pick bananas because with the coca you always know where you are going to sell it, but with the bananas you don't know if you will sell it or not," he says.

Thomas began working in the industry at the age of 10, using the income to pay for clothes and education. But now, with less work, he has had to quit school.

"Now there are no jobs or food. I do domestic jobs now. Anything," he says.

english.aljazeera.net...

No jobs, no food......but South America is doing fine?


Rome's neighbours have challenges. Somehow they have becomes Rome's challenges as well.

Worsening Spending Slump Paces ‘Scary’ U.S. Recession (Update2)

Dec. 10 (Bloomberg) -- The biggest slump in U.S. consumer spending since 1942 will extend the recession and push the jobless rate to the highest level in a quarter century, according to economists surveyed by Bloomberg News.

Household spending will drop 1 percent in 2009, the biggest decline since after the attack on Pearl Harbor, according to the median estimate of 51 economists surveyed Dec. 4 through Dec. 9. By the middle of next year, the economy will have shrunk for a record four consecutive quarters, the survey showed.

www.bloomberg.com...


How do you get everybody on the same page?



The Dance of Death












[edit on 11-12-2008 by whiteraven]

[edit on 11-12-2008 by whiteraven]

Good thread WR...it does seem to be a bleak outlook. The stock market could rise in the midst of these terrible economic news because in all of this there are still some very sound and solid investment opportunities in established companies like McDonald's and Coca-Cola.

But it looks like the situation has gotten out of control, with companies like Nortel eying bankruptcy. All it would take now is some kind of negative event such as another terrorist attack on scale of 911 to bring the house of cards down.

Originally posted by TH3ON3
..it does seem to be a bleak outlook. The stock market could rise in the midst of these terrible economic news because in all of this there are still some very sound and solid investment opportunities in established companies like McDonald's and Coca-Cola.

But it looks like the situation has gotten out of control, with companies like Nortel eying bankruptcy. All it would take now is some kind of negative event such as another terrorist attack on scale of 911 to bring the house of cards down.

I agree with you overall.

Even in the worst of economic conditions money can still be made.

I would look at the defense sector.....www.enterprisecorruption.com...

I know I am bumping my own thread so to speak but frankly, my dear, I don't give a dam.

Not when we have news like this....

Dire Forecast for Global Economy and Trade

WASHINGTON — The world economy is on the brink of a rare global recession, the World Bank said in a forecast released Tuesday, with world trade projected to fall next year for the first time since 1982 and capital flows to developing countries predicted to plunge 50 percent.

The projections are among the most dire in a litany of recent gloomy forecasts for the world economy, and officials at the World Bank warned that if they proved accurate, the downturn could throw many developing countries into crisis and keep tens of millions of people in poverty.

Even more troubling, several economists said, there is no obvious engine to drive a recovery.

www.nytimes.com...

BUT WE HAVE SOME GOOD NEWS!!!

Guns, Safes and Treasuries: America’s Top Sellers

Making money today is a lot tougher, but economic crisis breeds opportunities. The next big sellout items: bunkers, mattresses and Bibles.


Robert Morley I shouldn’t have been so shocked. Considering the economy, and the state of the banking sector, I probably should have expected it, but it was still a bit of a surprise. One of my acquaintances revealed to me that she now has a few thousand dollars buried in—not the market, not the bank—her backyard.

And she isn’t even close to being the only one.

thetrumpet.com...


The question is "What does a man do with no job, very little food, kids, wife, a bible and a AK47 with boque ammo?"

Included in the article speaking of many more unemployment claims filed week ending December 6th was this bit..........

More layoffs were announced Thursday. New Britain, Conn.-based tool maker Stanley Works said it plans to cut 2,000 jobs and close three manufacturing facilities, while Sara Lee Corp., known for food brands such as Jimmy Dean and Hillshire Farm, said it will cut 700 jobs as the Downers Grove, Ill.-based company outsources parts of its business.

A number of large U.S. employers announced layoffs this week, including Dow Chemical Co., 3M Co., Anheuser-Busch InBev, National Public Radio and the National Football League.

news.yahoo.com...

reply to post by interestedalways


Good find. I thought Beer sales were good? I guess whoever owns Bud decided that cuts were needed?

Here is something concerning the "second wave"...

Foreclosure Storm Will Hit U.S. in 2009 as Loan Changes Fail

www.bloomberg.com...


So far this is what I find interesting....

In the articles cited above are a lot of references to World War Two.

Also, the loss of jobs is an overall theme.

I see guns sales spike as well as people all getting prepared?? I highly doubt that these are all ATS'ers... so who else is warning people at grass root leval?

I asked..." What does a man with little food, no job, wife, kids, bible do with an AK47 and a whole lota of ammo?"

What do you see?

Nortel, once the centrepiece of the Toronto Stock Exchange, has been falling so rapidly the last few years it's surprising there was any room to go further down.

Inside scoop is plans afoot to break it up and sell it off in sections. Some parts are healthy and profitable.


MF

Child's body found near missing Fla. girl's home

This is the type of inflaming headlines that the PTB hide the dirty laundry under.

ORLANDO, Fla. — The skeletal remains of a small child were found Thursday in woods less than a half-mile from the Orlando home of a missing 3-year-old girl, but officials could not immediately say whether they belonged to the toddler.

www.chron.com...

Originally posted by whiteraven
reply to post by interestedalways

 

Good find. I thought Beer sales were good? I guess whoever owns Bud decided that cuts were needed?

Sales are Great, but I recently read that Busch moved thier manufacturing overseas! Perhaps Indonesia, not sure which country, but they did like so many are, abandoned ship for greener pastures and Profits!!!

I see guns sales spike as well as people all getting prepared?? I highly doubt that these are all ATS'ers... so who else is warning people at grass root leval?

I asked..." What does a man with little food, no job, wife, kids, bible do with an AK47 and a whole lota of ammo?"

What do you see?

I see alot of desperation!

Good thread, by the way. There is alot we miss if we don't keep ourselves and our community informed.



[edit on 11-12-2008 by interestedalways]