nortel n. a spectacular erosion of value. v. in the face of impending doom, to stifle common sense and better judgement in order to foolishly maintain a positive outlook
At its height in 2000, Nortel Networks employed close to 95,000 people and had a market capitalization larger than the combined value of Canada’s big six banks. The 800-lb gorilla of the Toronto Stock Exchange, its $1,200+ share price (adjusted for consolidation) accounted for one-third of the index’s value.
