Comment Re:Probably because it is... (Score 1) 174
Nortel screwed up because it went for growth at all costs while getting rid of projects that were bringing in lots of profit but bringing down the almighty overall growth.
It became a victim of our current (last couple of decades) problems with the stock market where everything is upside down. New companies that don't produce products and have never made a profit can be "worth" more than old, stable companies that produce billions of dollars with of goods and been profitable for decades. We keep seeing mega-mergers happening because major investors and advisors are demanding steady rates of return that are impossible for these massive companies to achieve without buying other companies. CxO's are rewarded in stock options that make them focus completely on the short term and give them incentives to make decisions that are bad for the long term survival of companies and the environment. Advisors are able to change the fortunes of a company with just a rumour adding or removing billions from the "value" of a company in a day even though nothing about the company has changed, showing that the stock price is no longer correlated to reality. The economy is doing worse than anytime than anyone alive has seen it yet the markets are hitting records. How can that be if stock prices are based on reality?
The stock market is just gambling now. There's no such thing as value investing or being able to look at the balance sheet of a company to determine how well the stock should perform. It's become a place for the rich to put their money into and allow the robots increase their investments at the expense of those less fortunate not able to afford the latest trading technology.