Nortel: Turnaround Still Coming?
When it comes to writing about Nortel, The VAR Guy feels a lot like Charlie Brown. You’ll recall how Lucy always pulled the football away just when Charlie Brown was ready to kick it. Again and again, good ol’ Charlie Brown falls for the prank, swings his leg, misses the ball and lands flat on his back. Good grief. Charlie Brown never learns. Apparently, neither does The VAR Guy and other IT watchers… especially when it comes to covering Nortel.
Just last week, The VAR Guy expressed hope that Nortel had turned the corner. CRN expressed similar hope recently. And since CRN has 50 full-time staff members, you’d think they’d have a higher combined IQ than The VAR Guy. Heck, even seasoned Wall Street watchers said a Nortel turnaround was coming. Forbes explored Nortel’s turnaround in December. Canadian Business spoke of a possible turnaround in 2005.
Everyone’s talking about scoring with Nortel. Too bad Nortel now says it expects 2007 revenue will be little changed at best, falling short of analysts’ forecasts. Good grief. Will we ever learn?
But don’t tune out just yet. There’s still reason to watch Nortel. The book is apparently closed on previous accounting scandals. A relationship with Microsoft appears to be blossoming. Cisco is actually worried about Nortel again. And the company’s muniwireless efforts continue to empower cities, counties and even commuters on mass transit systems.
Now, if only Nortel would stop teasing us with turnaround talk and finally put the ball through the uprights.