Nortel survived the fucking great depression. But a bunch of outright fraudulent activity by it's C-Suite to bump stock prices led to them vastly overstating and overplanning and over-committing resources to a market that was much much smaller than they were claiming. Nortel spent billions and billions on completely absurd acquisitions while they were making no money explicitly to boost their stock price.
That was all laid bare when the telecom bust happened. Then the great recession culled some of the dead wood in the economy.
Huawei stealing tech from them did not kill them. This was a company so rotten that the people put in charge right after this huge scandal put the investigative lights on them IMMEDIATELY turned around and pulled another scam! China could have been completely removed from history and Nortel would have died the same. They were killed by the same disease that killed and nearly killed a lot of stuff in 2008, and are still trying to kill us: Line MUST go up.
Nortel survived the fucking great depression. But a bunch of outright fraudulent activity by it's C-Suite to bump stock prices led to them vastly overstating and overplanning and over-committing resources to a market that was much much smaller than they were claiming. Nortel spent billions and billions on completely absurd acquisitions while they were making no money explicitly to boost their stock price.
That was all laid bare when the telecom bust happened. Then the great recession culled some of the dead wood in the economy.
Huawei stealing tech from them did not kill them. This was a company so rotten that the people put in charge right after this huge scandal put the investigative lights on them IMMEDIATELY turned around and pulled another scam! China could have been completely removed from history and Nortel would have died the same. They were killed by the same disease that killed and nearly killed a lot of stuff in 2008, and are still trying to kill us: Line MUST go up.