Nortel: Alberta boom? What Alberta boom?

Rising oil prices are turning Calgary into an economic juggernaut, but that’s not good enough for Nortel Networks, which announced it would be pulling out of the city by the end of next year.

At least 400 will be out of a job as the company focuses more attention on Toronto and Ottawa. This was primarily an R&D facility. Guess it’s hard to brainstorm new ideas when you’re too busy counting all the money flowing into your province.

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