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Submission + - Nortel Files for Chapter 11 (yahoo.com)

trmj writes: It looks like Nortel needs to change the way they do things. Reported by Reuters (by way of Yahoo), "Nortel Networks Corp, North America's biggest telephone equipment maker, filed for bankruptcy on Wednesday, hoping to save a once high-flying business whose decade-long decline has accelerated with the global economic crisis." If it goes down, Canada will lose 32,000 employees. At this point, what could they do to save themselves? Their telephone systems obviously aren't doing a good enough job anymore.
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Nortel Files for Chapter 11

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