Generous Payoff for Lucent’s Former CEO Questioned
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With the multimillion-dollar payoff to former Lucent CEO Richard McGinn [“Lucent’s Former CEO Gets Golden Parachute,” Aug. 14], our nation is rapidly replicating all of the disastrous faults that caused the fall of the Roman Empire.
McGinn’s decisions caused thousands of Lucent employees to lose their jobs and Lucent stockholders to lose 90% of the value of their stock.
The money could have gone to save jobs critical to Lucent’s future or to reduce the enormous cash needs of the company. Yet the Lucent directors voted to reward McGinn for his lousy performance at the expense of every employee and stockholder.
Sid Turkish
Beverly Hills
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