From the Yahoo Lucent5-5 Message Board:When analog switching office replacement was completed by the Telcos 5ESS, the product that paid for everything - cash cow, was DEAD. LU had no revenue stream to pay for new developments. To top it off, 5E line cards became available by the thousands as broadband and mobile wiped out second lines.LU died because it had no plan for broadband and obviously no product. LU died because it became technically obsolete.
I think LU had products, but not the Sales force, or even the trained data workforce to implement it.. I remember here in NorCal have two of us old timers being pushed to do a matrix of training for ourselves to be the front line, senior people.. Problem was, that wasn't our primary job, we had CLEC 5e switches, remote sites, too little help, to where there was no time to even begin to do the training.. 10-12 hour days already and you're going to do online or even classroom training classes? No way.. And I think we were leading the way, so other areas never got even that far... What I saw was a brick wall coming, nobody up top to help, no Sales forces any more, even the switching side had combined multiple jobs onto one poor bugger that was already overloaded... And the Telcos/RBOCs were resisting as well, looking for cheap labor, all the freebies they could get and we'd still lose bids...It was time to go, so I did in 2002... Fun ride, could have , should have moved my 401K off earlier.. But.. weco
OK ... so what about those of us that just bought the LU stock outright in the mid - late 1960's ? I'm showing a loss of 99.51%.I do enjoy the stories of you guys that worked for LU.Thanx,Rich (haywool)
Well, there was no LU in the '60s, not until the spinoff in the 90s.. But it's the same game, no matter, we cheered 'em on going up, I held 10,000 shares at one point... same as my 2nd level manager... and we both were clueless, until too late to do anything about it, whooosh, down the drain... His boss, Director level, was more cautious, did escape near the peak, at least in the 50s or 60s... not the 1s or 2s that I saw... Worse, I had my finger on the button to push off near $400k+ to another fund, but at the last minute changed my mind, in error and let it ride... I've a couple other workmates, same thing, ignored it, too busy working, commuting, in fact one fellow, retired a few years after me, still hasn't sorted out all the spinoff shares, gains, losses... I still semi follow it, a few shares, just in case, but... Figure there were 100s of thousands WeCo/Lucent employees.. Very few ever tell their stories anywhere... the 5+5 Yahoo site Mendo quoted from is mostly a management site, they got screwed over in other way, but had higher pensions than us, but some were near our same pay scales, just not out in the field, not Union, etc.. And we all got had in the end... Many are slipping away, more yet that worked for the RBOCs, trapped by cutbacks, buyouts... Huge overall collection of skills, talents, blink, gone... Never know how all their investments went... weco
Hey weco !Well, there was no LU in the '60s, not until the spinoff in the 90s..<?i>My aunt actually bought the LU shares and gave them to me. If she didn't buy Lucent, what did she buy? I received them as a wedding gift in 1971.Too konpelkated for me @?!Thanx,Rich (haywool)
They would have been AT&T, Ma Bell shares... from there they spun off into a multitude of Regional Bell Operating Companies (RBOCs) and they in turn split and merged in many mysterious ways... http://download.nliveris.com/RandomPhotos/att_breakup.jpgNotice this doesn't even show Lucent!
Another History site... Huge site, many nooks and crannies...http://www.beatriceco.com/bti/porticus/bell/bell.htm
One more I started with Western Electric in '63 http://techchannel.att.com/play-video.cfm/2011/9/26/AT&T...
Hey !Thanx for all the information ... what a "fantastic mess".As a charter pilot and now a farmer, I had no idea how convoluted it can all be.Thanx again!Rich (haywool) Long ALU (still)
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