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  2. Nortel Files for Bankruptcy (Updated)

Nortel Files for Bankruptcy (Updated)

Not unexpected, but still.... Updates throughout the day.
Eric Krapf
Eric Krapf
January 14, 2009

Not unexpected, but still.... Updates throughout the day.

Not unexpected, but still.... Updates throughout the day.Update 1: Here's the Nortel press release. It makes clear that the company filed while it still had cash, presumably because of the difficulty of getting debtor-in-possession financing during the credit crunch.

Update 2: Here's a CBC interview with Mark Sue, the analyst from RBC Capital Markets who, in November, put a $0 price target on Nortel's stock, which it got much closer to after the bankruptcy protection filing.

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