Roller coaster drama at NT

Lately, nothing has gotten me more down than the fall of my former employer, Nortel.

Almost hourly, I’m checking the stock; this blog and this blog; as well as this news feed on what’s going on there — all the while, hoping for good news.

NT was a great place to work, with great, brilliant people. I left there because another interesting opportunity came along that was more in line with my future career goals, not because of the company’s prospects. Roughly six months after leaving, I’m left wondering what’s next for NT? As someone who thrives on business-related drama, this is chock-full of excitement (and has been since the bubble burst earlier this decade).

Now, in the wake of a recent analyst note forecasting the company will fall to $0, horrible global economic malaise that’s spreading like mould on last year’s cottage cheese, there is now this piece in The Globe and Mail (written by one of the smartest people with whom I have ever met) raising the issue many people are asking: maybe it’s time to turn out the lights.

One thing I know is true: I want NT to survive — not just for my friends and their jobs, but to preserve the company’s world-class R&D, innovation and product lines. The touchy-feely reasons associated with its storied history aside, Canada and the global telecom industry will be worse off without Nortel.

Of course, I am also concerned about the handful of shares I bought at around $5 a piece.

Another thing I know is true: the drama isn’t over yet.