Posted on 09/18/2015 9:00:53 AM PDT by jimbo123
Before she became the controversial CEO of HP, Senate candidate Carly Fiorina was a star at Lucent. What does her time at the telecom disaster say about her?
In the spring of 1999, Lucent Technology’s star executive Carly Fiorina pulled off yet another coup—or so it appeared. A tiny start-up called PathNet agreed to buy huge amounts of fiber-optic gear from Lucent, a deal worth at least $440 million and potentially as much as $2.1 billion. The agreement Fiorina negotiated “potentially represents the single largest fiber supply agreement to a network operator in the U.S,” according to a triumphant press release.
While it was unclear how a tiny company like PathNet, with barely 100 employees and all of $1.6 million in annual revenue, could swing such as massive purchase, Wall Street didn’t seem to care about such details. The day following the announcement Lucent’s stock jumped 3%.
-snip-
Dig under the surface, however, and the story grows more complicated and less flattering. The Lucent that Fiorina walked away from, taking with her $65 million in performance-linked pay, was not at all what it appeared. Nor were several of her division’s biggest sales, including the giant PathNet deal.
(Excerpt) Read more at fortune.com ...
Lucent, the former AT&T labs, was a great company before the spin off and iCarly.
Secretary to CEO? How unlikely.
Ping.
Carly did such a wonderful job at Lucent that they got bought by Alcatel.
The money they were “making” was due to them lending money to customers.
“Revenue” from the “loans” was listed as new sales income and debt was stashed on balance sheets as a supposedly solid asset.
A scheme that ultimately failed.
Yes! Lucent WAS great before she came along!
She's all hat and no cattle.
More and more. We are jumping gun. Trump hadn’t planned on releasing material “for a couple of weeks”
Lucent and all the landline, long distance phone businesses of the early 2000s cratered, regardless of who was running them.
Name one that turned around.
Unless the CEO used what little assets were left to get into another wildly successful enterprise.
Yahoo did this with Alibaba. Yahoo is a dying business. They do nothing uniquely well. But they did invest in Alibaba and survived.
Steve Jobs was a unique superstar. He could reinvent a company. Larry Elison was good keeping Oracle alive, by acquiring other companies, but the enterprise software market will never go away, like wired long distance phone companies did.
I used with work with someone who knew her at Lucent. He said she was not liked, respected or trusted.
Fio-RINO booked revenue illegally at Lucent. Just like Enron.
She still has more class in her little pinky than Donald could ever have and more accomplishments than the witch from Little Rock
back then i was installing t1’s in homes,warehouse space, you name it for all of these young guys setting up email sites,web sites,porn sites all of it.Lucent was fronting the hardware to them on a payment contingency.
Well after it all(dot com boom) fell through its ass and they all went back home to mom and dads house Lucent was left holding the bag.
Lucent was a grossly over priced CPE vendor and the old bell mind set screwed hem up.
On a large build out like say Oppenheimer 1st guy comes in surveys the job.2nd guy comes in places a template on the back board,3d guy comes in mounts the equip,4th guy comes in and runs all the station and data drops,last guy come in and programs the switch.
All these guys were making big time bucks dragged their feet with the ole union mind set and eventually put them selves out of a job.
Fio-RINO pulling an Enron with Lucent is definitely an accomplishment, but not one you should be proud of.
The book shuffling didn’t help them out much either.
She should have invested in cattle futures instead.
“Carly did such a wonderful job at Lucent that they got bought by Alcatel.
The money they were “making” was due to them lending money to customers.
“Revenue” from the “loans” was listed as new sales income and debt was stashed on balance sheets as a supposedly solid asset.
A scheme that ultimately failed.”
She didnt invent vendor financing. Cisco, Nortel, the entire industry did it. I’m a value investor so in terms of the scheme, of course it is crap. Would Ted Cruz or Donald Trump have done any better? Trump is rich because he was born rich and was able to ride an ever rising Manhattan real estate market. Ted Cruz ran the solicitor generals office and thats it, otherwise he gives speeches.
And in terms of conservative bona fides, you do know she is the daughter of a well known and principled conservative judge right?
sure your correct.I wasn’t on that end of the bus.
They did have the CO market wrapped up for years and then Fuji,Lightspan and a host of others came along and Lucents stuff wasn’t seen as much in side and outside the office
If she had any capability at all ,she would still be in business like Trump!! SHE WAS FORCED OUT!!
Who was in charge?
She was FIRED from HP.
You don’t get FIRED for doing a great job.
And Lucent got shafted because of her wonderful management.
Keep excusing her LN.
Just makes your thread look like a concern troll thread.
http://freerepublic.com/focus/bloggers/3329329/posts
Oh look, a concern troll thread!
“And in terms of conservative bona fides, you do know she is the daughter of a well known and principled conservative judge right?”
Sorry, pedigree means nothing when she supports the DREAM act, Common Core, and thinks Global Warming is real.
http://www.cbsnews.com/news/carly-fiorina-supports-dream-act-but-says-shes-against-amnesty/
http://www.c-span.org/video/?324350-1/politics-eggs-breakfast-carly-fiorina
http://www.carlyforca.com/downloads/CarlyonEducation.pdf
So did Elison at Oracle. I worked there.
We ended up with Sarbanes-Oxley as a result.
A boon to enterprise consultants like myself, implementing receivables.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.