Yesterday, Nortel Networks Corp. put its top two financial officers on paid leave , including chief financial officer Douglas Beatty (pictured). This move comes a few days after the company announced it was going to restate its financial results for 2003. Nortel made a profit -- it's first in six years -- in 2003 of about $750-million (U.S.). Nortel did not say yesterday if it expected that profit to be smaller or larger as a result of the restatement. In fact, to the frustration of many investors and analysts, it said almost nothing yesterday beyond announcing the suspension of its chief financial officer and comptroller. I did a piece on this for CTV's national news and my Globe colleague Dave Ebner has more details in his piece in this morning's paper.
|
|||||||
|
Info/Contact for David Akin
Search this blog:
Login
Who pays for this blog? I receive no fees, considerations, etc. etc. for the posts on this blog nor do I have any plans to accept any. My salary is paid by Canwest Global Communications Corp. I work for that company as the Ottawa-based National Affairs Correspondent for Canwest News Service. The blog publishing platform used here is called Blogware and it's developed by Tucows Inc. of Toronto, Ontario, Canada. My use of Blogware should not be taken as an endorsement of that company. Like all Blogware users, I do not pay any fees for the use of this service. I participate in program. Google pays me some money and, for that, I give Google some space on this site to display ads. Google sells those ads and Google, not me, decides what advertising content you are seeing. I do not filter these ads and take no responsibility for them. Readers should not assume I endorse any of the products or services advertised here. If you think other disclosures are appropriate in this space, I'd like to hear from you. All of my contact details are always at www.davidakin.com You can read more about this section |
Nortel in trouble again
Yesterday, Nortel Networks Corp. put its top two financial officers on paid leave , including chief financial officer Douglas Beatty (pictured). This move comes a few days after the company announced it was going to restate its financial results for 2003. Nortel made a profit -- it's first in six years -- in 2003 of about $750-million (U.S.). Nortel did not say yesterday if it expected that profit to be smaller or larger as a result of the restatement. In fact, to the frustration of many investors and analysts, it said almost nothing yesterday beyond announcing the suspension of its chief financial officer and comptroller. I did a piece on this for CTV's national news and my Globe colleague Dave Ebner has more details in his piece in this morning's paper.
Comments
No comments found.
|
Recent Comments
Top Stories This Month
Month Archive
|
|||||
|
|||||||

