Bill Owens' First 100 Days

When Bill Owens took the helm of Nortel in late-April, you knew he had a number of huge challenges ahead. A little more than 100 days later, you have to give him credit for taking dramatic moves to re-invent the telecom equipment maker. Rather than moving slowly, the decision to eliminate 3,500 employees and fire seven more executives indicates that Owens is serious about put the company back on solid footing. The big problem ahead in the health of the telco market. If carriers and cablecos don't start spending more money on equipment, all of Nortel's moves will fail to bear fruit. This should continue to make Nortel an fascinating story for the next year to 18 months.