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Technology Stocks : Lucent Technologies (LU)

LU 2.810

-0.9%

12:32 PM EST

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To: Rainy_Day_Woman who wrote (5333)	12/31/1998 1:12:00 AM
From: Diamond Jim	Read Replies (3) of 21876

LUCENT'S McGINN LANDS A MAJOR-LEAGUE BONUS (http://www.businessweek.com/today.htm) Telecom-equipment maker Lucent Technologies Inc. (LU) has performed extremely well for its shareholders under the leadership of Chairman and Chief Executive Richard A. McGinn -- and now he's being rewarded extremely well for it. For the fiscal year 1998 ended Sept. 30, McGinn received a hefty $13 million in cash plus a respectable dollop of stock options, the company's just-released proxy shows. While McGinn's base salary of $1.1 million is modest by the standards of CEOs at Corporate America's top companies, his $11.9 million cash bonus puts him in the company of manufacturing executives Jack Welch Jr. of General Electric Co. and Louis V. Gerstner of IBM, who received in 1997 $8.1 million and $6.0 million, respectively. (Since most companies don't release their proxies until spring, most 1998 compensation figures are not yet available publicly.)

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