Optical Illusions: Lucent and the Crash of Telecom
Autor Lisa Endlichen Limba Engleză Hardback – 30 sep 2004
"Optical Illusions" is the story of a financially sound company steeped in world-class talent, dominant in one of the fastest-growing industries, that in the space of two years found itself downgraded to a junk-bond credit rating, under investigation by the SEC for its accounting practices, the value of its stock reduced to the price of a cup of coffee. Lisa Endlich tells the fascinating tale of the company that epitomized the misfortunes of the telecom industry, leaving investors and employees shocked and confused.
In writing this book Endlich had access to more than a hundred people who played a role in the drama, as well as previously sealed courtroom documents. She explains how the conflicting styles of CEOs Henry Schacht and Rich McGinn contributed to Lucent's woes, and she shows how the loss of skilled executives such as Carly Fiorina hurt the company at a crucial moment. When it was all over, Schacht -- Lucent's first CEO, who was later brought back to right the listing ship -- acknowledged that Lucent had allowed itself to be swept up in the market mania, distorting its corporate values in the process.
Although the stock-market mania of the late 1990s is remembered as "the Internet craze" or "the dot-com madness," as "Optical Illusions" shows, the damage was more widespread and lasting. In fighting for its survival, Lucent laid off more than 70 percent of its employees, wrecking retirees' savings and investors' portfolios alike.
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Specificații
ISBN-13: 9780743226677
ISBN-10: 0743226674
Pagini: 302
Dimensiuni: 167 x 241 x 27 mm
Greutate: 0.53 kg
Editura: Simon&Schuster
ISBN-10: 0743226674
Pagini: 302
Dimensiuni: 167 x 241 x 27 mm
Greutate: 0.53 kg
Editura: Simon&Schuster
Descriere
The "New York Times" bestselling author tells the remarkable story of one of the greatest corporate disasters of the recent boom-and-bust cycle: how America's most widely held stock was swept up in the market mania and then nearly destroyed.
Notă biografică
Cuprins
Contents
Preface
Chapter One: Looking Back
Chapter Two: Early Years
Chapter Three: McGinn and Schacht
Chapter Four: 1996
Chapter Five: 1997
Chapter Six: 1998
Chapter Seven: 1999
Chapter Eight: 2000
Chapter Nine: 2001
Chapter Ten: 2002-2003
Notes
Index