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Comment Re:Something's not right here (Score 1) 68

This is the same as (or similar to) that happened to Nortel...they had a lot of debt, were hemorrhaging money, but will had decent revenue and profits from some of the centers. January 14, 2009 they filed for chapter 11 under the guise that it would help them focus on restructuring...a few months later they sold the profitable elements to other companies (including a chunk to Avaya I believe) leaving the unpolished turds behind to die (which in all honesty, wasn't that much). They were unable to see how to stop the extensive spending, especially in areas like manager and executive salaries and the like.

My opinion is they are not going to make it out...Telecom is consolidating, and the profitable stuff will just be absorbed by other companies while the shit circles the drain.

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