Nortel in liquidation

Here's what astonishes me. The federal government would drop 7 billion dollars to prop up a badly run company that has done its best to make itself obsolete. This same government then barely lifts a finger as foreign interests acquire the key assets of another badly run company that is at the forefront of the next generation of wireless networks.

Since the bidders were most likely interested in Nortel's patent portfolio, all those high-tech R&D jobs are either going or gone. This, and not the troubles in the auto sector, is the story that will have lasting ramifications for the Canadian economy.