But like an alcoholic who hits rock-bottom and reaches out for help, the latest news suggests that Nortel (nyse: NT - news - people ) is finally facing up to its problems.

FORBES: Nortel: Nowhere To Go But Up

The stockmarket welcomed the changes, not because investors have developed a liking for nepotism, but because the company at last appears to be facing up to its problems and because Mr Ford will be surrounded by some able lieutenants.

ECONOMIST: The shake-up at Ford

It is a measure of the problems that Russia still has in facing up to economic realities that the outcome should be in doubt.

ECONOMIST: Unified Energy Systems