{"id":96,"date":"2009-01-14T22:37:36","date_gmt":"2009-01-15T03:37:36","guid":{"rendered":"http:\/\/rbachnet.wwwmi3-ss40.a2hosted.com\/?p=96"},"modified":"2022-12-30T12:05:55","modified_gmt":"2022-12-30T17:05:55","slug":"nortel-declares-bankruptcy","status":"publish","type":"post","link":"https:\/\/rbach.net\/index.php\/nortel-declares-bankruptcy\/","title":{"rendered":"Nortel Declares Bankruptcy"},"content":{"rendered":"

\"Chinese<\/a>Updated 02-14-12<\/strong> <\/em>The Wall Street Journal<\/em><\/a> reported<\/a> that for nearly a decade before Nortel collapsed\u00a0 Chinese hackers<\/a> had widespread access to its\u00a0corporate computer network.<\/p>\n

According to the article, the hackers used seven passwords stolen from top Nortel executives, including the chief executive. The suspected Chinese<\/a> hackers penetrated Nortel’s computers at least as far back as 2000 and over the years downloaded technical papers, research-and-development reports, business plans, employee emails, and other documents.<\/p>\n

—<\/p>\n

Updated 03-12-09<\/strong> WirelessWeek<\/a> <\/em>is citing The Wall Street Journal<\/em><\/a> is reporting that Nortel is in talks to sell its core wireless equipment business as well as a separate unit that builds telecom systems for offices, according to anonymous sources in the WSJ<\/em>.<\/p>\n

The WSJ<\/em> reported that Nortel is talking to Nokia Siemens Networks<\/a>, to sell its wireless business. Avaya<\/a> and Siemens Enterprise Communications, a joint venture of Siemens<\/a> and technology private equity firm Gores Group<\/a>, are interested in the company’s enterprise unit. Cisco<\/a> Systems reportedly looked at the enterprise unit but wasn\u2019t expected to bid. Nortel declined to comment.<\/p>\n

—<\/p>\n

\"Nortel<\/a>113-year-old<\/strong> Canadian technology firm Nortel<\/strong><\/a> filed for Chapter 11 bankruptcy<\/strong> today. Nortel’s losses in the third quarter ballooned to $3.41 billion and 1,300 people<\/strong> had to be let go<\/strong>. CEO and President Mike Zafirovski<\/a> wrote on the company’s Website. “Most importantly, Nortel is still very much in business.<\/em>”<\/p>\n

\"\"<\/a>Next steps for the former Northern Telecom<\/a> may include selling various business units<\/strong> or receiving a capital investment as a way to go private, According to Avi Cohen, managing partner at analyst firm Avian Securities, on TheStreet.com<\/a>,<\/em> “The most likely bidders for Nortel’s assets are Ericsson<\/a>, Huawei<\/a> (002502<\/a>), Nokia Siemens<\/a>, and Cisco<\/a> (CSCO<\/a>). We believe\u00a0Alcatel-Lucent<\/a> (ALU<\/a>) and Motorola <\/a> are less likely bidders because they are struggling with their own challenges and would have a hard time financing such a purchase.<\/em>”<\/p>\n

UBS<\/a> analyst Maynard Um speculated on CED<\/span><\/em> that the acquisition of Nortel by Huawei<\/a> would be a possible outcome giving the Chinese firm a significant increase in market access in North America. However, this scenario may run into trouble with the Committee on Foreign Investment in the U.S.<\/a> (CFIUS) regulations.<\/p>\n

 <\/p>\n

Ralph Bach<\/a>\u00a0has been in IT long enough to know better and has blogged from his\u00a0Bach Seat<\/a> about IT, careers, and anything else that catches his attention since 2005. You can follow him on LinkedIn<\/a>,\u00a0Facebook<\/a>,\u00a0and\u00a0Twitter<\/a>. Email the Bach Seat\u00a0here<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

WSJ says Chinese hackers had Nortel CEO password to access tech papers R&D reports business plans emails for over 10 years until the firm folded<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[3216,198,1741,35,247,487,67,2838,748,31,15,749,28,3206,1561],"class_list":["post-96","post","type-post","status-publish","format-standard","hentry","category-networking","tag-3216","tag-alcatel-lucent","tag-bankruptcy","tag-china","tag-cisco","tag-csco","tag-hack","tag-hackers","tag-huawei","tag-layoffs","tag-networking","tag-nokia-siemens-networks","tag-nortel","tag-private-equity","tag-siemens"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t