Nortel has been known to Canadians as many things from ‘our darling’, ‘our baby’ to {insert something not so nice} , and as the devoted parents, we have been watching anxiously, hopefully. Like most Canadians and many people around the world, I have been reading the news surrounding Nortel since it filed for creditor protection earlier this month. In a time when we are all too familiar with the word ‘recession’, Nortel faces bankruptcy, which is a direct reflection of the industry it is competing in. The consumer wants everything better, faster and cheaper. Additionally, this market is changing by the minute; one bad decision can devastate a reputation which is then reflected in the stock market. This was certainly the case with Nortel; at its peak in mid 2000, the stock was valued at more than $1100 per share as compared to 15 cents Canadian on the Toronto Stock Exchange on the day of the bankruptcy announcement. Impressively, Nortel remains one of the countries largest employers, and...