NL Update

Nortel posts record loss for FY 2001Telecom equipment manufacturer Nortel Networks Corp. registered a final loss of US$27.3 billion for the last year, compared with a loss of $3.5 billion the previous year. CEO Frank Dunn tells analysts the company has reached "a true turning point", which may be what the captain of the Titanic alleged. More details: Nortel Networks press release Webcast of Dunn's remarks Aliant offers medium term notesEastern telco Aliant Telecom Inc. is issuing $100 million worth of five-year notes at a 5.35% rate. Fellow BCE property Bell Canada International has closed a rights offering worth $440 million, as an institutional investor threatens to sue the company over its recapitalization plan. More details: Aliant Telecom Inc. offers medium term notes BCI announces closing of rights offering Litigation threatened by an institutional holder of BCI convertible debentures American Supreme Court says FCC can set pole ratesEchoing an argument currently underway in Canadian courts, the U.S. Supreme Court has declared that the Federal Communications Commission has the right to set fees that utilities charge cablecos for pole access. A similar appeal from the Canadian Cable Television Association is before the Canadian Supreme Court. More details: National Cable & Telecommunications Association, Inc. v. Gulf Power Co. Telecom says access to utility poles needed if costs are to be kept in check Rogers customers still complaining about tech supportSubscribers to Rogers Cable Inc.’s high-speed Internet service are griping to the Toronto Star about the poor quality of technical support. Even CEO John Tory concedes the service is "inadequate". More details. Sprint awarded Vancouver network contractSprint Canada has won a five-year contract to provide network services to the city of Vancouver. The metro area network will have 85 sites, including community centres, libraries, and fire stations. More details. Primus opens data centre in VancouverTelecom carrier Primus Canada Inc. has opened its second data centre in this country. The downtown Vancouver facility gives customers in western Canada data and co-location services. More details. Telus dismisses TWU lawsuitThe Telecommunications Workers Union has filed a $460-million lawsuit against Telus Corp., demanding greater disclosure of pension fund information. The telco says the case is without merit. More details. SBC fined $6 million by FCCThe U.S. Federal Communications Commission has fined American telco SBC, a minority stakeholder in Bell Canada, US$6 million for violating conditions of its takeover of Ameritech. The levy is the maximum amount the regulator can fine someone. More details.

NL Update

News | January 21, 2002

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