1. A former employee of Nortel made the statement that, for the most part, the Nortel executives consisted of a group of good people caught up in a bad culture. Do you believe there is any merit to this statement, particularly concerning senior management knowingly engaged in misstating financial performance?

2. Should stakeholders such as employees and pensioners have any recourse against management in leadership position who play a significant role in the decision-making that ultimately leads to the collapse of an organization?

3. Would a different executive compensation strategy have minimized the probability of excessive risk-taking by senior management?

4. What role should the Board of Directors have played in managing compensation strategies?