[Nortel had misrepresented results over several years, possibly in an effort to trigger bonus payments, sparking regulatory and criminal investigations in the U.S. and Canada. The company was forced to restate a half-decade's results, diverting management's resources and spooking some customers (see BW Online, 03/22/05,] More of Nortel's Slip Is Showing ... absolute crisis. |
At a moment of great challenge and enormous need in the history of this company, the Board turned to one of its own, whose long career embodied the highest levels of trust, integrity and distinguished leadership, ... We needed an experienced, steady hand and Bill delivered. On behalf of our Board, our employees, investors, partners and customers, we will be forever grateful. |
Bill is an emotional guy. |
Bill re-established stability within Nortel and credibility with all its stakeholders, ... Mike can now build for the future on the strong foundation Bill Owens has given us. |
Due to rapid consolidation in the media and telecommunications industries, GM is now considering alternative strategic transactions involving Hughes and other participants in those industries, ... Any such transaction might involve the separation of Hughes from General Motors. |
He's the right leader to build on the important work of Bill Owens -- and take Nortel to the next level. |
Hybrid propulsion is just one of the technologies that we can introduce to meet the performance expectations of our customers, yet protect this planet that we all count on to sustain us. |
It's simple -- we lead in truck fuel economy today and General Motors intends to remain the leader in five years. |
Our intent is to achieve a fair resolution of these lawsuits and avoid a prolonged, uncertain and costly litigation process. |
Our intent is to achieve a fair resolution of these lawsuits and avoid a prolonged, uncertain and costly litigation process. A final settlement would remove a significant impediment to Nortel's future success and allow ... the Nortel team to move forward. |
Our intent is to achieve a fair resolution of these lawsuits and avoid a prolonged, uncertain and costly litigation process. A final settlement would remove a significant impediment to Nortel's future success. |
Quite frankly, but for Bill Owens' efforts in this regard, I'm not sure we'd be sitting here today, |
to the next level. |
We have absolutely not delivered on our commitment with respect to (U.S.) market share. |
We needed stability, to be very transparent in our commitment to the future of the company. It was very important in my judgment that we not prolong the process. It had to be a high-quality search but we had to move quickly. |