Nortel goes bankrupt October 30 2009

Nortel Networks, Canadian maker of telephone central office switching equipment and telephone systems filed on January 14, 2009, and plans to restructure. They have lost $7 billion over the last three years and the company has shrunk dramatically, and is expected to be sold off pieces of the business. Immediate impact on Nortel phone system customers is unclear, but look for support and dealers to fade away over time. The secondary market may be a primary supply source from here on.