Nortel's Road to Bankruptcy

As a long-distance runner, Mike Zafirovski is used to daunting challenges. An Ironman triathlete unafraid of long, hard slogs, the CEO of Nortel Networks (NT) knew when he took the job back in 2005 that turning around the struggling Canadian telecommunications equipment maker would be no easy task. But you can bet Zafirovski never expected the road, however bumpy, would lead to bankruptcy.

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