Nortel’s AGM Webcast

For anyone not able to make the Nortel AGM today (Thursday) in Toronto, check out the Webcast. Anyone want to bet on how long this year’s AGM lasts? Hopefully, it will take less time than last year’s six-hour plus marathon.

Update: So far, turnout at the AGM seems fairly light, which would suggests the AGM may be a quiet affair. Then again, all you need is a few “enthusiastic” shareholders to get things exciting. Zafirovski’s presentation, which saw him take off his jacket and walk to the front of the stage, was what you would have expected: straightforward, focused, bullish. The Q&A session is typically AGM material: a few good questions, some venting. There continues to be much angst/disappointment from shareholders about how the stock price has dropped from a high of C$124.50 in July 2001 to less than C$3 today – demonstrating many people still can’t believe so much of their money has evaporated.

Quote of the AGM: I am personally not interested in selling or merging Nortel with somebody else. We may have to do it at some point if we are not successful” – Mike Z.

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