Government was left to wonder what recovery plan it would be funding
It’s not that the telecom giant failed to submit a plan, says today’s Ottawa Citizen. It’s that they submitted a whole bunch of plans. Plans that would see big chunks of the company sold off. Plans that would keep it largely intact. Plans that banked on a quick recovery in telecommunications. Plans that assumed the industry would remain stagnant. The question for government officials was what plan it would be funding to the tune of, oh, $1 billion. It sounds like they made the right call in letting Nortel Networks slide into bankruptcy protection. The company’s leadership can hardly ask Ottawa for money to fix itself if it can’t settle on a coherent recovery strategy.