Word: lucent
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...What's an Alcatel?" that's the question investors across the U.S. might have been asking last week after it emerged that the comparatively low-profile French telecom-equipment giant was in merger talks with erstwhile Wall Street heartthrob Lucent Technologies...
...only 18 months ago that Lucent was trading near $80 a share and was America's most widely held stock. Lately, the stock price has been hovering around $10, and the news of a possible Alcatel deal further depressed the stock price, inching it closer to the $9 mark. (In all, the company has lost an astonishing $200 billion in shareholder value in the last year and a half.) Alcatel's investors were just as unhappy, and perhaps with greater justification. Alcatel has problems of its own: its stock is down around 65% from its high last year...
...dream" speech. The ads don't say anything about Alcatel's products - in fact, they are bewilderingly opaque - but given that those products are things like asynchronous transfer-mode data switches, it seems a safe bet that the spots are aimed at investors, not customers. Perhaps the pass at Lucent is just another way of saying, "Hey, guys, we're a player...
...player, but not yet Premiership level - at least not in telecoms. According to tech consultancy IDC, based in Framingham, Mass., $30 billion Alcatel ranks fourth, behind Cisco, Nortel and Lucent, in data-equipment sales to telecom service operators...
...Given all this, why take on the problem of Lucent - a company that lately has had nothing but commercial, financial and management woes, including the recent high-profile ousting of a chief financial officer who reportedly alienated colleagues by, among other things, bringing her "personal career coach" to a staff meeting...