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Attention Canadians of D1P - this one's for you!


Commissar SFLUFAN

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Nortel was one of the companies that gave me a job offer after grad school (and was my second choice after the auto company I joined).  I really dodged a bullet.

 

I haven't watched the video, but was really confused about why they essentially started out arguing how the phone wasn't invented in Canada -- and stopped watching at that point.

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4 minutes ago, AbsolutSurgen said:

Nortel was one of the companies that gave me a job offer after grad school (and was my second choice after the auto company I joined).  I really dodged a bullet.

 

I haven't watched the video, but was really confused about why they essentially started out arguing how the phone wasn't invented in Canada -- and stopped watching at that point.

 

The creator likes to provide some historical background/trivia for his videos, even if it doesn't seem relevant to the overall subject.  He then goes on to a discussion about the political/economic relationship between Canada and the United States to further frame the historical context.

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2 minutes ago, Nokra said:

Well now you've got me intrigued. 

 

Well just in general, often (at least in the 80s and 90s) people would hold a large part of their pension in company stocks. But when you lose your job because the entire company disappears...your pension is toast as well. With the olden days of defined benefit pensions it was a bit better, but you still usually lost a chunk due to restructuring during bankruptcy. Sears was an example of that. 

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1 hour ago, Nokra said:

Well now you've got me intrigued. 

 

1 hour ago, CitizenVectron said:

 

Well just in general, often (at least in the 80s and 90s) people would hold a large part of their pension in company stocks. But when you lose your job because the entire company disappears...your pension is toast as well. With the olden days of defined benefit pensions it was a bit better, but you still usually lost a chunk due to restructuring during bankruptcy. Sears was an example of that. 

 

What made the Nortel pension situation even worse is that Canada -- unlike the United States or the United Kingdom -- did NOT have a governmental agency that could provide a backstop for pensioners when the company that funded their plans went belly-up.

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