4 ms·
Also, Mike Zafirovski (Nortel CEO) asked for financial support from Harper, who refused. Nortel had many problems, but Stephen Harper (prime minister) and his
by dade_ 5y ago
Also, Mike Zafirovski (Nortel CEO) asked for financial support from Harper, who refused. Nortel had many problems, but Stephen Harper (prime minister) and his Conservatives killed Nortel and the telecom industry in Canada with this decision. Now the same people will blame China. That was the moment that ended the business.
- aborsy 5y agoBailing out the private sector every time they go bust due to incompetence won’t solve the problem (in this case, problem of management and security incompetence).
- mardifoufs 5y agoIf they were bailed, what would've changed? Even car manufacturers weren't disfunctional to the point of not being able to turn a profit on a line of product that when sold to another company took only 9 months to be profitable? Not only that, but from what I'm understanding it seems like the entire company was compromised so deeply that almost every email/document seems to have found its way back to China. And it took years after their bankruptcy to finally get an accurate idea of how wide the breach was because Nortel itself seemed to really not care about that at all. Why then would the Canadian government bail out and finance Nortel when it amounted to bankrolling Chinese research? I think the real mistake was to let the expertise go to complete waste, it's just mind-boggling that only Huawei was smart enough to take advantage of such a concentration of talent. The Canadian government could've let Nortel die but financed a successor to replace them, or done something to help out the engineers left in the dust But I guess Canada has a very long history of losing every single cutting edge tech hubs it has, while doing very little about it. Because why even bother when you are a petrostate?