From: Rich Glasser [mailto:email@example.com]
I am a Lucent Tech Retiree and beginning to feel the effect of the benefits that our family has lost. I have felt for many years that Lucent was raiding our pension and benefits fund that was funded by A.T.& T. This fund should have been added to by Lucent in its good years. Not only did Lucent not add funds; it stole (my words) from us by its actions. This in itself was wrong and indirectly added to the losses many of us suffered in the value of Lucent stock holdings. How?? Because these withdrawals and earnings from the pension fund investments added to the earnings of Lucent during these good years and helped drive up the price of the stock which later then collapsed. Another issue which hurt many of us was its elimination of our death benefit and this without any advance notice. I for one and I am sure many others made insurance decisions based on this ecpected death benefit. For example-I moved out of a universal life annuity one month before we lost our death benefit which I would not have done. The Wall Street article of Mar.29,2004 is an excellent article that described better than I have how Lucent has in effect abused the rights of its Retirees. It not only broke its promises to us but I feel it has actually manipulated our funds to the benefit of its current officers. Case in point the $300 million in bonuses which really indirectly from the reduction of our benefits. I could go on both I am sure you will be getting many messages and if you want more input people like us would be happy to provide.
thank you Richard Glasser firstname.lastname@example.org