Globonomics!

Consulting|Technology|International business

Nortel networks Corp. files for bankruptcy

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One of the jewels of the 1990’s boom in the telecom sector, Nortel networks Corp. (NYSE: NT) filed for bankruptcy as quoted by Marketwatch.

I have watched this stock closely alongwith it’s peer, Lucent (now, Alacatel-Lucent) then in 2001 and have seen them in their glory days before the bust of the dot com and telecom bubble in 2001 when I used to follow the coverage by CNBC America live then in 2001.

This just shows how deeply engrained the financial mess has been in the system and even behemoths with stock prices of over $500 a share then at their peaks have come to penny stocks with a value of not more than a few cents a share.

Saddening but that is life!

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Written by Naveen Athresh

January 14, 2009 at 7:59 pm

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