It's Going to be a Long Ride
Now that the SEC has gotten itself “formally” involved with Nortel's accounting woes, there is now one sure thing: it's going to be a long, long time before the telecom equipment maker's woes are put behind it. You could take the summer off - as I plan to do - and be assured that Nortel's accounting issues will still be waiting there upon your return. One of the most frustrating aspects is the lack of information being disclosed by Nortel - a situation that will likely get worse with the SEC on the scene. Anyone who says they know what's going on is simply not telling the truth. Personally, I can't wait until Nortel's first-quarter results on April 29. It will be fascinating to see how Nortel can say nothing while saying something…if you catch my drift!
