I want to sincerely thank you all for your personal time, unrelenting effort, and outstanding organizational skills in your goal of defending our precious retirement assets. And, an extra special thanks to Ken Raschke for his initial vision, compassion and consideration in including all his fellow retirees in this effort.
I am one of the many thousands of Lucent retirees that has, for all practical purposes, lost my retirement savings due to Lucentís dramatic drop in value. And, as you well know, I am now quickly losing most of my retirement benefits, including my monthly pension that now goes to pay for medical and dental coverage for my dependents and me.
It is hard to imagine that I once was so very proud to say I worked for one of the premiere companies in the world, and now today feel embarrassed to tell anyone I retired from Lucent. And, to add to the humiliation are the many emails exchanged with friends and fellow co-workers describing the perks, benefits, bonuses, and salaries bestowed on the elite Lucent management for their extraordinary efforts and contributions to the company. I find it very interesting that my job review was always based on my annual performance and contribution to the company and typically measured by feedback from customers, co-workers, and service metrics. Iíve yet to understand the justification for rewarding millions and millions of dollars to leadership that cannot manage to realize a stock price above $5 for a multi-billion dollar company with the worldís most premiere R&D organization. Imagine, even though she is incarcerated, Martha Stewart has managed to increase her companyís value 300% in less than a year. I can only hope our management realizes a similar fate in 2005.
Again, I thank you all for your invaluable efforts. They are truly appreciated.
(Name withheld per authorís request)