* [9fans] Struggling Lucent : McGinn gets $5.5 million one-time payment
@ 2001-08-14 14:17 Matt
0 siblings, 0 replies; 2+ messages in thread
From: Matt @ 2001-08-14 14:17 UTC (permalink / raw)
To: 9fans
http://www.theregister.co.uk/content/7/21002.html
Reuters reports that Lucent's quarterly filing with
the US Securities and Exchange Commission (SEC)
reveals that it gave McGinn a $5.5 million one-time
payment and took on loans of $4.3 million that he
had run up with two banks in exchange for the
repurchase of his stock options. McGinn already
has a pension plan from Lucent worth $1 million
a year, so its not as if he was going to go
short even without the severance package.
^ permalink raw reply [flat|nested] 2+ messages in thread
* Re: [9fans] Struggling Lucent : McGinn gets $5.5 million one-time payment
@ 2001-08-14 14:27 jmk
0 siblings, 0 replies; 2+ messages in thread
From: jmk @ 2001-08-14 14:27 UTC (permalink / raw)
To: 9fans
According to the Newark Star Ledger today ("...the embattled
telecommunications equipment maker..."), McGinn has 3 years to pay
back the $4.3M.
For those of you who missed it, Lucent managed to sell the executive
golf course at a profit a few weeks ago, just after it was completed.
On Tue Aug 14 10:17:21 EDT 2001, matt@proweb.co.uk wrote:
> http://www.theregister.co.uk/content/7/21002.html
>
> Reuters reports that Lucent's quarterly filing with
> the US Securities and Exchange Commission (SEC)
> reveals that it gave McGinn a $5.5 million one-time
> payment and took on loans of $4.3 million that he
> had run up with two banks in exchange for the
> repurchase of his stock options. McGinn already
> has a pension plan from Lucent worth $1 million
> a year, so its not as if he was going to go
> short even without the severance package.
>
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2001-08-14 14:17 [9fans] Struggling Lucent : McGinn gets $5.5 million one-time payment Matt
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