Nortel The Next Enron?

Excite Money & Investing

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TORONTO (Reuters) – Nortel Networks Corp. (NT) (NT) fired its top three exec­u­tives on Wednesday and said account­ing prob­lems already under inves­ti­ga­tion by reg­u­la­tors ran deep­er than expected.
The sur­prise announce­ment from North America’s largest mak­er of telecom­mu­ni­ca­tions equip­ment sent its shares plung­ing as investors spec­u­lat­ed that an account­ing review begun last year was devel­op­ing into a full-blown finan­cial scandal. 

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Ugh. And I own a piece of this company.

2 thoughts on “Nortel The Next Enron?”

  1. Bea

    Nortel has been in trou­ble for as long as I can remem­ber out of my life in Canada. The com­pa­ny has been in the news way too many times. I hope you won’t lose anything.

  2. Pariah Burke

    Thanks, Bea. Nah. When I bought the stock Nortel was doing much bet­ter, then it took a nose­dive. I knew then it would recov­er, but I would need to hold onto the stock for a while to see ROI,

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