Business Services Industry
Lucent's Leaders Get an Earful from Disgruntled Investors.
Knight Ridder/Tribune Business News, February, 2001
By Richard Burnett, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Feb. 22--Facing stockholders for the first time since the company went into a tailspin last year, Lucent Technologies Inc. executives endured a fire of criticism Wednesday from investors upset about the demise of the one-time high-tech darling of Wall Street.
After a year of falling profits and a $395 million loss in the first quarter this year, leaders of the Murray Hill, N.J.-based company tried to reassure investors that better times are ahead.
"Last year was a very difficult year," new CEO Henry Schacht told shareholders at the company's annual meeting in Orlando. "But we know what went wrong. We're in the process of fixing it."
But the...
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