Nortel: lots and lots of numbers
There's been plenty o' Nortel coverage but this story is the absolute best -
and most entertaining - I've seen in ages. Read and enjoy:
Nov. 23 (Bloomberg) - Nortel Networks Corp. board member John Manley said he's “very optimistic” that the telephone- equipment maker will file arestatement of its financial reports within the 30 to 60 day deadline itset on Nov. 11.
The reports that will be prepared for filing by Brampton, Ontario-based Nortel are more than 2,000 pages with over 8,000 numbers, Manley, who joined Nortel's board in May, said in an interview.
“People can't work any harder than they are,” said Manley, a former deputy prime minister of Canada. “The limiting factor is there's a lot of numbers. Everything has to be right this time. We can't revise them again.”
And to think that Manley was Canada's Finance Minister. Makes you think that perhaps the federal government's accounting system is much less complicated than Nortel's.
