Long-struggling Nortel files for bankruptcy

January 14, 2009 By ROB GILLIES , Associated Press Writer

(AP) -- Telecommunications equipment maker Nortel Networks Corp. filed for bankruptcy protection in Canada and the U.S. on Wednesday, becoming the first major technology company to take that step in this global downturn.

Content from The Associated Press expires 15 days after original publication date. For more information about The Associated Press, please visit www.ap.org .

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COCO - Jan 15, 2009
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Like most their decisions over the last decade this one remains a function of incredibly poor - one might say criminal mis-management - how these clowns never got positions with the Bush government I will never know. Canadians rarely are considered as brite enough to run such an enterprise and this is the proof in the pudding - back to the igloos lads!
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