SilverSun Technologies Inc (SSNT): Nortel's sales were rising in early 2008...

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Det_Robert_Thorne

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Det_Robert_Thorne

Re: maestro_of_Ihub post# 4435

Friday, 01/28/2011 3:45:40 PM

Friday, January 28, 2011 3:45:40 PM

Nortel's sales were rising in early 2008

Nortel was showing good YoY growth in Q1 and Q2 of 2008 and they were managing their debt service. The economy moved into recession in 2H 2008 and Nortel's sales fell along with it.

They lost a total of $250M in the 1H of 2008, but $5.5B in the 2H.

Once the recession hit in force, NT could not longer make the debt payments.

SWK could probably have survived the current recession, but the debt incurred by Trey may have doomed it.

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