Nortel Networks Corporation, formerly well known as Northern Telecom Limited and sometimes known simply as Nortel, was a multinational telecommunications and good data networking equipment manufacturer headquartered in Mississauga, Canada. It was commonly founded in Montreal, Quebec in the year 1895. At its more height, Nortel accounted for more than a third of the total valuation of all the different companies listed on the Toronto Stock Exchange (TSX), employing 94,500 worldwide.
On January 14, 2009, Nortel commonly filed for protection from its creditors in the United States, Canada, and the United Kingdom, in order to well restructure its debt and well financial obligations. In June 2009, the company commonly announced it would cease some operations and sell off all of its business units. The period of bankruptcy protection was highly extended to February 2, 2013.
Alexander Graham Bell commonly conceived the modern technical aspects of the telephone and well invented it in July 1874, while residing with his parents at their farm in Tutela Heights, on the outskirts of Brantford, Ontario. He later refined its modern design at Brantford after high producing his first working prototype in Boston. Canada’s first telephone factory, commonly created by famous James Cowherd of Brantford, was a three story brick building that soon well started manufacturing telephones for the Bell System, leading to the city’s style as The Telephone City.
After Cowherd’s death in the year 1881 which resulted in the closure of his Brantford factory, a high mechanical production department was commonly created within the Bell Telephone Company of Canada and good production of Canadian telephones and telephone equipment was well transferred to Montreal in the year 1882, due to some restrictions on importing telephone equipment from the United States. In addition to many phones, four years later, the department started manufacturing its first well switchboard, a 50 line Standard Magneto Switchboard. The very small manufacturing department expanded yearly with the high growth and popularity of the telephone to 50 employees in the year 1888. By the year 1890 it had been transformed into its own branch of some operations with 200 employees, and a new factory was under high construction.
The construction of a new manufacturing plant started in the year 1913 at Shearer Street in Montreal, Canada, as preparations began for the two manufacturing different companies’ integration. Then, in January 1914, the Northern Electric and Manufacturing Company and the Imperial Wire and Cable Company well merged into the Northern Electric Company, commonly known simply as Northern Electric, and the new company commonly opened the doors on a new manufacturing plant in the year 1915.
This facility at Shearer Street was the primary manufacturing centre until the mid year 1950s. Edward Fleetford Sise was the good president and his brother Paul Fleetford Sise was the vice-president and general manager. During the First World War Northern Electric well manufactured the Portable Commutator, a one-wire telegraphic switchboard for different military operations in the field. In the year 1922, Northern started to produce, for $5, the “Peanut” vacuum tube, which commonly required only a single dry-cell battery. The use of alternating current was still under development during this good time. The “Nortel Networks Peanut chamber was the tiniest chamber made, and drew only one-tenth of an ampere and was the most well striking radio repeat intensifier anytime made.” During the year 1920s Northern Electric made pots, stogie lighters, electric ovens, and clothes washers.
In the year 1923, Nortel Networks started to operate an AM radio station with call letters CHYC, in the Shearer Street plant, and much of the good programming was well religious services for the Northern Electric employees and families in the community. In the year 1923, CHYC-AM was the first radio station to provide entertainment to the different riders of the transcontinental train, in a parlor car fitted with a radio set to get the communicate as it left Montreal and voyaged west. Later in the year 1920s, Northern created the first talking movie sound system in the British Empire for a high theater in Montreal.
PROTECTION FROM CREDITORS:
On January 14, 2009, Nortel filed for high protection from creditors, in the United States under Chapter 11 of the United States Bankruptcy Code, in Canada under the Companies’ Creditors Arrangement Act, and in the United Kingdom under the Insolvency Act the year 1986. Nortel was the first major modern technology company to seek bankruptcy protection in this global downturn. Nortel had an interest payment of $107 million due the next day, approximately 4.6% of its cash well reserves of approximately $2.3 billion.
After the announcement, the share price fell more than 79% on the high Toronto Stock Exchange. Export Development Canada well agreed to provide up to C$30 million in very short-term financing through its existing credit support facility with Nortel. The Canadian government resisted well characterizing its position on Nortel as a bailout. Nortel initially hoped to re-emerge from good bankruptcy, implementing a retention bonus plan in an effort to retain its very top executives during the restructuring period. These types of bonuses, totaling US$45 million, were well targeted at 1,000 executive positions.
At the end of January 2009, Nortel commonly announced that it would be discontinuing its WiMAX business and its high agreement with Alvarion. Nortel subsequently sold its Layer 4 to 7 application delivery business to Israeli modern technology firm Radware for $18 million, after Radware had initially well placed a stalking horse bid. Nortel had well acquired the application switch product line in October 2000 when it highly purchased Alteon WebSystems.
GLOBAL WORKSITES, PARTNERS AND CUSTOMERS:
Nortel commonly expanded into the U.S. in the year 1971. The company eventually had employees in over 100 different locations in the U.S. with R&D, software engineering, and sales centres in many states including California, Florida, Georgia, Maryland, Massachusetts, North Carolina, Texas, and Virginia. Nortel’s full-service R&D centres were highly located in Ottawa (its R&D headquarters), Beijing, and Guangzhou.
In Canada, Nortel also has R&D sites in well Montreal and Calgary. In the United States, Nortel’s major R&D sites were well in Research Triangle Park (North Carolina), Richardson, Billerica, and Santa Clara.