Telecom giant Nortel files for bankruptcy

ECONOMIC Crisis Worsens –

Telecom giant Nortel Networks Corp. (TSX:NT) and several of its units have filed for Chapter 11 bankruptcy in a court in the United States. The move comes shortly after shares in the company were halted on the TSX pending news.[source Yahoo! CP]end of excerpt… . (more updates here shortly on the impact on Canadian economy and deepening recession, check back soon for analysis)

To say we have been expecting this is an understatement – after shares tumbled to the 30 cent range recently. To say we are looking forward to this is a mis-statement. Nortel has been so important to the Canadian economy, even a way of life, when you look at the pervasiveness of Nortel hardware throughout the Bell and other telco customers across the country. That old clunker dial phone you’ve been hanging on to as a collectors item in the basement? – Nortel made it ( or Northern Telecom). For a very long time in Canada, their name was ubiquitous in the business telephone system market – a Bell system was a Nortel system was a phone system – wait there are other manufacturers? How have they fallen so far from a stellar history – especially one filled with so much groundbreaking technological inventiveness.  How will this affect measures to ease poverty  and homelessness in Canada? Check back here and to the Canada News Commentary blog at  canayjun.blogspot.com for more in depth analysis.

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Violent Crime, Not Homeless – Real Problem in Toronto Chinatown

Man faces 12 charges – Firearm seized Dundas Street West/Spadina Avenue Chinatown

On Monday, August 18, 2008, at 7:40 p.m., 14 Division Community Response officers were on patrol in the Dundas Street West/Spadina Avenue area.

It is alleged that the accused was in possession of a loaded firearm, the accused fled on foot, the accused was arrested and a loaded 9 mm Mac 11 machine pistol was seized. Qoheleth Chong, 19, of Toronto, has been charged with – Careless use of a firearm, Possession of a prohibited weapon knowing its possession is unauthorized, Unauthorized possession of a firearm, Possession of a prohibited firearm with ammunition, Possession of prohibited weapon obtained by the commission of an offence, Carry concealed weapon, Possession prohibited weapon, Carry concealed weapon, prohibited device or prohibited ammunition, Possession of ammunition contrary to prohibition order, Possession of firearm contrary to prohibition order, Fail to comply recognizance, Fail to Comply with Probation.

He is scheduled to appear in court at Old City Hall, on Tuesday, August 26, 2008, room 101, at 10 a.m. Contact: Constable Tony Vella, Public Information, for Detective Izzy Bernardo, 14 Division 416-808-1400 [end of bulletin]

Youth gangs tag a new storefront in the Spadina Dundas area.

Youth gangs tag a new storefront in the Spadina Dundas area.

While the Chinatown BIA and Intelligarde are rousting harmless homeless panhandlers, the police are right there in the neighbourhood in broad daylight and a loaded 9 mm Mac 11 machine pistol was seized from a youth nineteen years of age. He probably started out young with the rest of the growing gangs of neighbourhood teens who have plagued the Chinatown business district with destructive tagging or grafitti. Do you need to ask who is responsible for increased crime and drugs in the area?  This is not an isolated incident and highlights why the Toronto Police see homelessness and panhandlers as lower priority issues.

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