DrewWilson
December 12th, 2008, 07:48 PM
The news keeps getting worse for telecommunications equipment maker Nortel Networks.
On Thursday the company received notice from the New York Stock Exchange that it faces delisting if it can't get its stock price above the required $1 minimum price tag in the next six months, The Wall Street Journal reported.
Earlier this week, the Journal reported that the company is seeking advice on bankruptcy proceedings.
While Nortel is clearly hurting as most companies these days are from the current economic crisis, the truth is that the company has never fully recovered from the bursting of the telecommunications bubble in 2001 and 2002.
More... (http://news.cnet.com/8301-1035_3-10122026-94.html?tag=newsEditorsPicksArea.0)
Ouch.
On Thursday the company received notice from the New York Stock Exchange that it faces delisting if it can't get its stock price above the required $1 minimum price tag in the next six months, The Wall Street Journal reported.
Earlier this week, the Journal reported that the company is seeking advice on bankruptcy proceedings.
While Nortel is clearly hurting as most companies these days are from the current economic crisis, the truth is that the company has never fully recovered from the bursting of the telecommunications bubble in 2001 and 2002.
More... (http://news.cnet.com/8301-1035_3-10122026-94.html?tag=newsEditorsPicksArea.0)
Ouch.