Hallelujah! I just read an AP story on Nortel Networks' second-quarter earnings report. It says the company's profit nearly tripled and net profit has grown from $45 million from $16 million one year ago.
The story kind of reminds me of Southwest Florida. We got hit with Hurricane Charley a year ago. Just about the same time the next hurricane was bearing down on us, Nortel got hit with an accounting scandal. We both got tore up by these events, but now both of us are doing better.
Seriously, it's good, good news for the networking industry that Nortel is rallying like this. The article says Nortel CEO Bill Owens says he aims to keep the profit line moving in the same northerly direction by making sure the company's portfolio of products is "focused on the businesses with the greatest opportunities."
It's funny how those managing the businesses that make network equipment have to behave so much like the equipment they are making. Real-time, dynamic management is required in both environments for successful results.
You go Nortel!