The opinions expressed in this editorial are those of the author and do not necessarily reflect those of Decima Reports.The only certainty in the telecom sector is uncertainty. A few years ago, the notion that Nortel was in danger and AT&T Canada is primed for fiscal health would have had the speaker laughed out of the room. Yet the results of the last couple of weeks shows how much the situation has changed.  As our lead story details, the reorganization of AT&T Canada may result in a stronger competitive landscape, albeit with fewer players. The agreement of bondholders on a new regime goes a long way to ensuring the CLEC will be around for a few years yet. A revitalized AT&T Canada may not be good news for Group Telecom. It has been struggling to achieve a restructuring itself. Whether it can make good on that effort now that AT&T Canada is coming back stronger is the $64 question. Some of the blame must be placed on the financial institutions. Just as the investors threw money wildly at anything remotely telecom a few years ago, now the pendulum has swung fiercely in the other direction. Demands for immediate profits can imperil long-term players in the sector. Equally surprising is the depths to which Nortel has sunk. It seems like eons ago that the company was single handedly supporting the Toronto Stock Exchange. A C-note could not have purchased a share in the equipment giant; nowadays you could spend a loonie and, like McDonald’s, get change in return. Of course the Big Mac may do less damage to you than the Nortel stock. Nortel’s situation has not been helped by management that has been evasive or misinformed. Time and again, a round of layoffs or other cost cutting measures have been instituted, with the proviso that this is the last of such actions. A few months later, another batch of job losses are announced. Rumblings from the workplace suggest that those who have survived the cuts are demoralized, depressed and destined to depart. The uncertainty of the telecom sector as a whole is underscored among Nortel employees.