Former execs offer to buy Nortel: report

This is the ultimate good news/bad news story of the year. Three former execs want to buy the ship wreck BUT they want the Canadian taxpayers to foot the bill and front them the cost.You have to be joking. Did the Canadian taxpayers not dance this dance in the early 90's when the management of the day panhandled the Canadian government for handouts to "keep jobs in Canada"? Does everyone forget that this compnay then took that handout money and rellocated the jobs to the Carolinas? How stupid do you think the taxpayers in Canada are??? Many of the Nortel employees who are now at pension risk took the rip-off a step further and actually accepted transfer allowances to relocate themselves into the USA. Many supsect that the very handout money aimed to keep the jobs in Canada were used as transfer susbsidies. Years later, these same es-patriot workers now are askign the Ontario government to cover their pensionable service for the 15 odd years they spent in teh states.There is a big difference between the GM deals and Chrysler deals made in the past. Those companies had moral backbones.The single solution that best serves Ontario and Canada is to seize the R&D arm of Nortel as compensation for bailing out the pensions of Nortel workers who spent their entire work career in Canada. Historically, we'd be looking after proud Canadian heritage as the infant days of the company as Bell Northern Labratories together with the R&D assets as well as ALL open Canadian devoped patents currently held by Nortel would then be relocated to Kitchener where the new entity could be partnered with the University of Waterloo in close proximitey to R'I'M and other "modern" technology companies. A center of excellence for telecommunicaiton would be to the benefit of all Canadians wherein royalties from patents wodl eventually help fund teh project. To even consider allowing anyone connected to Nortels management to have access to public funds again is uncouncionable