Nortel
- Thread starter justajohn
- Start date
Yes tbill, what you say makes very good sense.
I still bought it though. Not looking for the quick day trade, although, it would have been nice to pick it up last week while the activity was still slow and cash out my initial investment today. I have been watching it since it fell below $14. I guess I figure over the next few years (or many years) they may hit $14-$18 dollars again. I also only invested money I was prepared to lose.
The Kimberly Clark’s and anything to do with an aging society is a good investment for your long-term growth RSP portfolio.
cheers
I still bought it though. Not looking for the quick day trade, although, it would have been nice to pick it up last week while the activity was still slow and cash out my initial investment today. I have been watching it since it fell below $14. I guess I figure over the next few years (or many years) they may hit $14-$18 dollars again. I also only invested money I was prepared to lose.
The Kimberly Clark’s and anything to do with an aging society is a good investment for your long-term growth RSP portfolio.
cheers
I have been watching it too.
I saw it hit 67 and thought NO WAY.
It's tempting, but I still don't know.
They could just as well go broke still.
Anything below five US is a candidate for bankruptcy.
This pig was pumped up to about 14 last year then did nothing but fall.
Nortel also has HUGE debt, but the communication drought has to end sooner or later.
Will Nortel still be around????
JDS may be a better bet since they have NO debt and lots of cash in the bank, still they announced a layoff today of 1000.
My only advice, if it falls for 3 days in a row, get out.
BBD.B is around 4 and change too.
I saw it hit 67 and thought NO WAY.
It's tempting, but I still don't know.
They could just as well go broke still.
Anything below five US is a candidate for bankruptcy.
This pig was pumped up to about 14 last year then did nothing but fall.
Nortel also has HUGE debt, but the communication drought has to end sooner or later.
Will Nortel still be around????
JDS may be a better bet since they have NO debt and lots of cash in the bank, still they announced a layoff today of 1000.
My only advice, if it falls for 3 days in a row, get out.
BBD.B is around 4 and change too.
do as i say not as i do
This is still one of the most talked about stocks at dinner parties and family gathering for me. I have advised most my friends and family not to touch this stock unless they are willing to lose everything they put into it. To me NTL is a lottery ticket and i did pick some up under a dollar but sold out the majority of the position today.
This is still one of the most talked about stocks at dinner parties and family gathering for me. I have advised most my friends and family not to touch this stock unless they are willing to lose everything they put into it. To me NTL is a lottery ticket and i did pick some up under a dollar but sold out the majority of the position today.
this weeks upswing...
is due more to China announcing $1.4 billion U.S in telecom contracts than the value or profitability of Nortel. With the Canadian gov't playing it very quiet with our own corporate giants, i'm worried that we have yet to hear the real financial condition of Nortel. We're still relying on information from them and haven't even so much as struck a sub-committee to look into accounting practises, much less legislated any changes. We're still working on the honour system. This week's rise may turn out to be a "dead cat bounce".
is due more to China announcing $1.4 billion U.S in telecom contracts than the value or profitability of Nortel. With the Canadian gov't playing it very quiet with our own corporate giants, i'm worried that we have yet to hear the real financial condition of Nortel. We're still relying on information from them and haven't even so much as struck a sub-committee to look into accounting practises, much less legislated any changes. We're still working on the honour system. This week's rise may turn out to be a "dead cat bounce".
No comment
Just remember the much used line:
"It can't go any lower"
and, as an aside "How do you decide when to sell?"
It's so simple to execute a trade but most people can not bear to sell and that goes equally for the loser and the 10 bagger.
Especially the 10 bagger, ie NORTEL at $120+
Just remember the much used line:
"It can't go any lower"
and, as an aside "How do you decide when to sell?"
It's so simple to execute a trade but most people can not bear to sell and that goes equally for the loser and the 10 bagger.
Especially the 10 bagger, ie NORTEL at $120+
when to sell...that's simple...
I sell right after Sam calls me to tell me that his new wonder drug has been turned down for testing in the U.S
Then I go bake apple muffins...it's a good thing.
Yours truly,
Martha
I sell right after Sam calls me to tell me that his new wonder drug has been turned down for testing in the U.S
Then I go bake apple muffins...it's a good thing.
Yours truly,
Martha
never give stock advise to family/friends
hey anon,
My history with nortel ... i bought bce when they announced they were going to sell nortel and split the stock. Yes, i sold my portion close to $100 to watch it go up another 20%. In all honesty in the financial industry their was a lot of talk even when NTL was over 100 that this stock was going to take a hit and many of the prop traders at banks were aggressively selling the stock. However, I did buy back some shares at 67 dollars and have held those stupid things ever since even though I knew our guys thought the stock would hit the low 20s. Personally, I never believed things would turn out as bad as they did nor did i know how corrupt ross was. For me NTL has been one of my better trades overall ... there are many that hurt me way more (Oracle, DSG, Bombardier and many more). Have enough capital losses this year to offset all gains in 99 and 00.
hey anon,
My history with nortel ... i bought bce when they announced they were going to sell nortel and split the stock. Yes, i sold my portion close to $100 to watch it go up another 20%. In all honesty in the financial industry their was a lot of talk even when NTL was over 100 that this stock was going to take a hit and many of the prop traders at banks were aggressively selling the stock. However, I did buy back some shares at 67 dollars and have held those stupid things ever since even though I knew our guys thought the stock would hit the low 20s. Personally, I never believed things would turn out as bad as they did nor did i know how corrupt ross was. For me NTL has been one of my better trades overall ... there are many that hurt me way more (Oracle, DSG, Bombardier and many more). Have enough capital losses this year to offset all gains in 99 and 00.
The sorry state of Nortel
First of all, the symbol for Nortel has been NT for quite some time.
It was NTL in the old days when it was called Northern Telecom
During the peak(1999-2000), NT employed about 15000 in the R&D centre in Kanata. Currently, it is estimated to have less than 5,000. Nobody knows for sure because the Nortel has a tight-lip policy.
In addition to laying off employees, it is also selling off vast amount of testing equipments in the lab, in order to cut down the depreciation costs. Morale of those remaining employees is extremely low.
Now people in Ottawa are talking about bankrupcy in early 2003, unless there is a white knight or merger.
If Nortel goes under, it is not the first time for high profile company in the National Capital Region. Remember Mitel in the late 70's and Gandalf in the early 90's. Also, Newbridge Network was sold to Alcatel just a few years ago.
First of all, the symbol for Nortel has been NT for quite some time.
It was NTL in the old days when it was called Northern Telecom
During the peak(1999-2000), NT employed about 15000 in the R&D centre in Kanata. Currently, it is estimated to have less than 5,000. Nobody knows for sure because the Nortel has a tight-lip policy.
In addition to laying off employees, it is also selling off vast amount of testing equipments in the lab, in order to cut down the depreciation costs. Morale of those remaining employees is extremely low.
Now people in Ottawa are talking about bankrupcy in early 2003, unless there is a white knight or merger.
If Nortel goes under, it is not the first time for high profile company in the National Capital Region. Remember Mitel in the late 70's and Gandalf in the early 90's. Also, Newbridge Network was sold to Alcatel just a few years ago.
NT stock
The company may survive, but about the only way I could see that happening is with a reorganization that makes the common stock worthless.
If you can get a 10 or 20% run over the next few weeks why WOULDN'T you sell it? It's good for a trade, but has no redeeming characteristics as an investment.
Flooey!
The company may survive, but about the only way I could see that happening is with a reorganization that makes the common stock worthless.
If you can get a 10 or 20% run over the next few weeks why WOULDN'T you sell it? It's good for a trade, but has no redeeming characteristics as an investment.
Flooey!
probably a good ideaAnyone been following Nortel?
Looked at it last week when it was below $.90, now its back up to $1.67. Still think I’m going to buy some today.
Any opinions.
I worked at Nortel (back then Northern Electric / Northern Telecom) in the early 80's - mid 90's when the stock was trading at $149. / ea. It WAS a great place to work back then until NAFTA "broke the camels back" and most of the production got shipped out to the US and Mexico. 3000 of us got laid off within 3 years. I'm suprized that their still around at all!
the (penny) stock btw is still being activly traded
http://investing.money.msn.com/investments/stock-price?symbol=NRTLQ
http://investing.money.msn.com/investments/stock-price?symbol=NRTLQ
Is there any manufacturing or design work left in Canada? or is it all outsourced? IMHO I'd stay with the banks & reinvested dividend plan. Much safer in IMHO.Anyone been following Nortel?
Looked at it last week when it was below $.90, now its back up to $1.67. Still think I’m going to buy some today.
Any opinions.
I work for a Telecom company, and all of what used to be Nortel equipment is now more and more, week after week, being branded with the Avaya name. Very soon the Nortel name will cease to exist unless it's used/refurb equipment.
It's all made in China now.
It's all made in China now.
It's a penny stock and a company that still has major legal battles ahead of it in terms of getting creditors paid. I would not touch it.
Who's going to pay it, they're having a hard time paying their pensioners.It's a penny stock and a company that still has major legal battles ahead of it in terms of getting creditors paid. I would not touch it.
My broker said their pensioners are taking a 30% haircut. Wonder if they had a choice to take their pension in a lump sum?they're having a hard time paying their pensioners.
Problem was that a lot of Nortel equipment was bought by blind companies in SE Asia, reverse engineered, remanufactured and sold under a different brand name at a greatly reduced price. I remember back then that some of our equipment was being sold for up to $5k per circuit board and a "frame" (up to dozens of circuit boards, stored in cabinets that were hard wired together) were selling for up to a half million each. We were also making complete telelcommunications switch systems stored in modified tractor trailer units that were sold for $50 million each. All you had to do was drive the unit up to your central switch station and hard wire it into your system. In some situations these mobile switches were capable of handling up to tens of thousands of individual lines.I work for a Telecom company, and all of what used to be Nortel equipment is now more and more, week after week, being branded with the Avaya name. Very soon the Nortel name will cease to exist unless it's used/refurb equipment.
It's all made in China now.
Also as mentioned, a lot of our production went out of country, due to NAFTA, particularly to Raleigh Park, North Carolina and to Mexico. The Mexican production quality SUCKED. We had roughly a 98% inhouse acceptance rating of product made in Canada compared to a roughly 33% of product made in Mexico. We tried to ship the rejected product back to Mexico for reworking but in the log run it doubled our cost of that product. The Asian factor and NAFTA is what really started the slow death of Nortel.
