Susan Gibson Emails Henry Schacht Over Tone Of His Email To Ken Raschke
----- Original Message -----
Sent: Tuesday, September 28, 2004 12:53 PM
Subject: Your 9/22/2004 response to Ken Radsche
Dear Mr. Schact:
I reviewed your e-mail response to Mr. Ken Radsche, dated September, 22, 2004. I was surprised of the tone of your response, which I interpreted as taking Mr. Radsche to task for voicing the concerns of more than 100,000 retirees. In my view, the wording and tone of your e-mail will further incite the LRO and my fellow retirees to do whatever necessary to save our retiree benefits.
Lucent's retirees are well aware of the need to control the costs associated with medical care. It was recently pointed-out in a Lucent communication that we are making "informed choices" regarding healthcare, and may actually see a stay or drop in next year's premiums. We are showing a good faith effort to control costs. It would be nice to hear some appreciation from the executive team for our efforts to be responsible healthcare consumers.
I take exception to your comment that Lucent's level of executive compensation is competitive and necessary to retain top leaders. While this may be so according to the charts, it would be nice to see the executives "have some skin" in the game. I can cite other business leaders such as Steve Jobs of Apple Computer and Bill Schwab taking little or no compensation while turning their respective companies around.
I am not suggesting that the executive team works unpaid. However, a compensation plan where just one executive earns $44M is outrageous, especially during a tough business cycle. Your argument that this exorbitant sum of money is requisite falls on deaf ears of those who have had their retirement plans turned upside down, and are facing financial difficulty or ruin.