Former Nortel's CEO John Roth: Free Market and Corporate Mentality

Former Nortel's CEO John Roth:
Free Market and Corporate Mentality

Nipawin - Monday, December 10, 2001 - by: Mario deSantis

stock incentives

`There is a great perception among current and former employees that the guys at the top, with all their compensation tied to stock incentives, cared only about the stock price and to hell with the truth and the long-term impact that would have on the survival of the company.'
--Tom McKinney, former Nortel manager

lay-offs
British Airways is currently planning to lay off some 10,000 employees to save money. As we have found out in our writing and experiences every big corporation is trying to save money by laying off employees and making bigger mergers. Also, if the big corporations are not lucky to survive then they either downsize as Nortel Networks did or they go bankrupt as the Enron Corporation did.

perverse trend
Our governments are doing the same as I wrote just this morning how our own Saskatchewan government is trying to save money by reducing the number of health districts and streamlining their administration. So what we can see is a perverse social and economic trend whereby the rich get richer and fewer, and the poor get poorer and more numerous.

fraud
Contrary to what our politicians are saying, this trend has not occurred overnight because of the horrific tragedy of September 11, it has been going on since our politicians, businesses and neoclassical economists joined the Free Market gospel preached by the Chicago School of Economics. Afer having digressed on the frauds committed by the Enron Corporations I now come across an article of the Toronto Star explaining the down fall of Nortel Networks and I find very telling the personal philosophy of his former CEO John Roth:

things I want

"I always viewed going to work so I could afford to do the things I really enjoyed in life. So that's what I'm concentrating on. I've got the cars, I've got the property, I do a lot of work grooming it, getting it in shape"

---------------References

Pertinent articles in Ensign

Nortel's Roth a raging bull until bitter end, Tyler Hamilton and Robert Cribb, December 9, 2001 The Toronto Star



Former Nortel's CEO John Roth: Free Market and Corporate Mentality

Nipawin - Monday, December 10, 2001 - by: Mario deSantis

`stock incentives`	`There is a great perception among current and former employees that the guys at the top, with all their compensation tied to stock incentives, cared only about the stock price and to hell with the truth and the long-term impact that would have on the survival of the company.' --Tom McKinney, former Nortel manager

`lay-offs`	British Airways is currently planning to lay off some 10,000 employees to save money. As we have found out in our writing and experiences every big corporation is trying to save money by laying off employees and making bigger mergers. Also, if the big corporations are not lucky to survive then they either downsize as Nortel Networks did or they go bankrupt as the Enron Corporation did.

`perverse trend`	Our governments are doing the same as I wrote just this morning how our own Saskatchewan government is trying to save money by reducing the number of health districts and streamlining their administration. So what we can see is a perverse social and economic trend whereby the rich get richer and fewer, and the poor get poorer and more numerous.

`fraud`	Contrary to what our politicians are saying, this trend has not occurred overnight because of the horrific tragedy of September 11, it has been going on since our politicians, businesses and neoclassical economists joined the Free Market gospel preached by the Chicago School of Economics. Afer having digressed on the frauds committed by the Enron Corporations I now come across an article of the Toronto Star explaining the down fall of Nortel Networks and I find very telling the personal philosophy of his former CEO John Roth:
`things I want`	`"I always viewed going to work so I could afford to do the things I really enjoyed in life. So that's what I'm concentrating on. I've got the cars, I've got the property, I do a lot of work grooming it, getting it in shape"`

---------------References
	Pertinent articles in *Ensign*

	Nortel's Roth a raging bull until bitter end, Tyler Hamilton and Robert Cribb, December 9, 2001 The Toronto Star