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Boeing delivers C-17 to RAF
BRAMPTON, Ontario, April 29 (UPI) -- Employee morale took another blow as Canadian telecommunications equipment firm Nortel Networks Corp. fired top executives, the Globe and Mail reports.
Nortel's financial recovery was creating a bigger work force and a better employee outlook, employees said.
The company, based in Brampton, Ontario, fired its chief executive officer Frank Dunn, chief financial officer Doug Beatty and controller Michael Gollogly, and said it plans to cut its 2003 earnings in half.
"When something like this happens, it's scary," one Ottawa worker told the Globe and Mail.
Stock-holding employees saw their shares plummet Wednesday, and some workers are afraid of more layoffs. Nortel has already cut thousands of jobs in the past three years.
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PERTH, Australia, May 22 (UPI) --
Australia has scrapped the planned $8.8 billion expansion of the Abbot Point coal terminal in Queensland.
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WASHINGTON, May 22 (UPI) --
A U.S. Senate committee report has revived controversy over alleged counterfeit Chinese electronic components entering U.S.-made defense equipment and weapons.
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Like housing markets overall, the market for luxury homes is growing tighter as the spring buying progresses. Though still a buyer's market, the ILHM Luxury Housing Report for last week shows a pattern of rising prices and fewer days on market since...
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What if Europe turned out to be the new Japan?
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