Tag Archives: Nortel

SEC charges ex-Nortel execs with accounting fraud

The SEC has charged four former Nortel executives with accounting fraud, The four are former Chief Executive Frank Dunn, former Chief Financial Officer Douglas Beatty, former Controller Michael Gollogly and former Assistant Controller MaryAnne Pahapill.

According to Reuters:

The Securities and Exchange Commission is seeking a permanent injunction, civil monetary penalties, barrings as officers or directors of a public company, and disgorgement of ill-gotten profits against all four.

One of my co-workers thought to look up the word disgorge:

disĀ·gorge:

  1. to eject or throw out from the throat, mouth, or stomach; vomit forth.
  2. to surrender or yield (something, esp. something illicitly obtained).
  3. to discharge forcefully or as a result of force.
  4. to eject, yield, or discharge something.

We like the first definition the best. So go on Dunn, vomit up that cash!

Of course the next question is, if Frank Dunn (et al.) do vomit up the cash, who does it go to? It shouldn’t really go back to Nortel because it wasn’t theirs to start with. It should go back to share holders.

How to Survive/Handle Layoffs

Well, I’m sitting here waiting for layoff round 4 to get to my group and I figured I may as well put together a little blurb on how to survive layoffs. Now, by survive, I don’t mean how to come out with your job, I mean how to literally survive. Layoffs are tough mentally. Multiple rounds of layoffs are exhausting mentally, physically and ethically.

Any of you who haven’t been through layoffs won’t realy understand what I’m talking about but maybe you will read this and remember it in the off chance you’re unfortunate enough to be in my situation.
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