After day after Nortel CEO Bill Owens and CFO Bill Kerr finally provided analysts with an audience, we now know the slow talking Owens is bullish about the company's future and committed to installing new financial systems. Unfortunately, there remain no clues into why Frank Dunn was canned as CEO and the magnitude of the accounting “irregularities”. It appears many financial analysts have decided to look forward rather than worry about accounting issues that happened in the past. After the conference call yesterday, Blaylock & Partners Gabriel Lowy decided Nortel had said what it needed to say, and promptly reiterated his US$5 stock target price. UBS also gave the ongoing business – VOIP in wireless, in particular – some attention in its mini-report. Perhaps it is time for the investment community to get over it given there is really nothing you can do about the past – other than restate your books. With this in mind, maybe investors to look at Nortel's fundamentals and the industry's growth outlook. Then again, it is difficult to tell whether Nortel is actually making money from equipment sales until the company's accountants get their acts together.