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Technology Stocks : Lucent Technologies (LU)

LU 2.430

-5.1%

Nov 19 3:59 PM EST

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To: Pat Hughes who wrote (14152)	3/23/2000 11:43:00 PM
From: Anonymous	Read Replies (3) of 21876

Concerning Lucents (AT&T's Submarine Cable Division tied to their undersea cable work)...I believe that several ex AT&T (or possibly ex-Lucent managers) bought the old submarine cable business that AT&T was glad to get rid of. Ex-President George Bush made a handsome profit a few years back when he was in Japan for a speech at Global Crossing's headquarters there. He usually asked $100,000 for a speech outside the U.S., however, while he was there he asked about the company. They weren't public yet. The managers talked George into taking payment for his speech in stock in the company which might have been going for $4/share then, it might have been as low as $1.50/share, I'm not sure. He agreed on a payment of $80,000 in GBLX stock and when it went public it wasn't long before George had $14,000,000....a nice and tidy sum for a speech...don't you think? I guess that's why people want to be president...it pays pretty well after you leave office.

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