{"id":379,"date":"2009-03-23T21:43:11","date_gmt":"2009-03-24T01:43:11","guid":{"rendered":"http:\/\/rbachnet.wwwmi3-ss40.a2hosted.com\/?p=379"},"modified":"2021-08-01T15:43:22","modified_gmt":"2021-08-01T19:43:22","slug":"nortel-pulls-an-aig","status":"publish","type":"post","link":"https:\/\/rbach.net\/index.php\/nortel-pulls-an-aig\/","title":{"rendered":"Nortel Pulls an AIG"},"content":{"rendered":"<p><a href=\"https:\/\/web.archive.org\/web\/20200923043729\/https:\/\/www.networkworld.com\/article\/2870049\/the-rise-and-fall-of-nortel.html\" target=\"_blank\" rel=\"noopener noreferrer\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-111164 size-medium\" title=\"Nortel Pulls an AIG\" src=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/nortel_logo-2-e1572193632488-150x48.jpg?resize=150%2C48&#038;ssl=1\" alt=\"Nortel Pulls an AIG\" width=\"150\" height=\"48\" srcset=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/nortel_logo-2-e1572193632488.jpg?resize=150%2C48&amp;ssl=1 150w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/nortel_logo-2-e1572193632488.jpg?resize=75%2C24&amp;ssl=1 75w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/nortel_logo-2-e1572193632488.jpg?w=294&amp;ssl=1 294w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a>And the absurdity continues &#8211;\u00a0The executives who run companies into the ground continue to get <span style=\"text-decoration: line-through;\">rewards<\/span> &#8220;retention&#8221; bonuses and the rest of us get laid-off.\u00a0 In the fine tradition of <a href=\"http:\/\/www.aig.com\" target=\"_blank\" rel=\"noopener noreferrer\">AIG<\/a> rewarding the brainiacs who led us all into this global economic meltdown, the geniuses who took <a href=\"https:\/\/web.archive.org\/web\/20210918185128\/https:\/\/www.canadianbusiness.com\/technology-news\/nortel-collapse-of-a-giant\/\" target=\"_blank\" rel=\"noopener noreferrer\">Nortel<\/a> from $250 billion market cap to $65 million market cap and bankruptcy are being rewarded with &#8220;retention&#8221; bonuses of 30 million dollars. With performance like that,\u00a0 why they are being retained for any reason?<\/p>\n<p><em><strong>rb-<\/strong> <\/em><\/p>\n<p><em>At least the Nortel &#8220;retention&#8221; bonuses are not being funded by my tax dollars (yet).<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><em><a title=\"Ralph Bach\" href=\"https:\/\/rbach.net\/index.php\/new-resume\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ralph Bach<\/a>\u00a0has been in IT long enough to know better and has blogged from his\u00a0<a title=\"Bach Seat\" href=\"https:\/\/rbach.net\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bach Seat<\/a> about IT, careers, and anything else that catches his attention since 2005. You can follow him on <a class=\"broken_link\" href=\"http:\/\/www.linkedin.com\/in\/rb48334\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">LinkedIn<\/a>,\u00a0<a href=\"https:\/\/www.facebook.com\/ralph.bach.14\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/rbach48334\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>. Email the Bach Seat\u00a0<a href=\"mailto:\/\/bach.seat@gmail.com\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The executives who ran Nortel into the ground &#8211; got $30M &#8220;retention&#8221; bonuses for leading the firms into bankruptcy<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[3216,34,1741,32,28,37],"class_list":["post-379","post","type-post","status-publish","format-standard","hentry","category-business","tag-3216","tag-aig","tag-bankruptcy","tag-business","tag-nortel","tag-recession"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts\/379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/comments?post=379"}],"version-history":[{"count":4,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts\/379\/revisions"}],"predecessor-version":[{"id":128747,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts\/379\/revisions\/128747"}],"wp:attachment":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/media?parent=379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/categories?post=379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/tags?post=379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}