Chairman and CEO
My friend of 50 years, Joe Parano has died after a courageous battle against cancer. Joe had the last word about Lucent in his self- written obituary copied below. I just wanted to pass this along to lend some credence to retirees' perceived callousness of current day Lucent executives. It is this perception that causes the mistrust you canít eliminate by spinning half the story in letters to retirees. That is why the LRO engages you in such open places such as the annual meeting and in the media. When Lucent executives insist on wearing targets on their backs, they will be shot at.
You, Frank, and others would be better served not appealing to your self inerests, board, analysts and the media with macho talk like ďhealthcare benefits are discretionary in 2007Ē and ďour pension plans are well funded" when in fact management retirees affected know their pension plan is underfunded (it meets current ERISA funding requirements only). Recently, we have been told life insurance asset information cannot be provided because it would require staff time you just canít spare.
You might suggest to your staff that LRO folks are online and in tune with everything publicly filed or stated and so are many retirees. LRO volunteers are experienced, and well educated, mostly management people, who know it is not staff time or money that is in the way. Donít insult us.
So, if you perceive the LRO as opposing Lucentís success, you are wrong. We offered to help with legislation, you refused; we offered to work to help lower healthcare costs, you refused. Challenge us and engage us if we can help but donít ask us to play spin games.
Howard M. King
San Jose, CA
The following obituary was in the San Francisco Chronicle on 02/22/06
Joseph T. Parano
Age 69, a long time resident of San Carlos, died on February 19, 2006 after a long illness from colon cancer. Joe was born in Brooklyn, NY on Nov. 22, 1936 and attended the City College of NY. He loved skiing and the outdoors. He worked as an engineer and manager for the Bell System. He was relocated from NY to CA in 1963. He retired from AT&T after 32 years of service with a secure benefit package. After retirement he was reassigned against his wishes to Lucent Tech. Inc. who reduced his health benefits and eliminated his spousal death policy that was promised. He is survived by his loving wife of 24 years, Susie Cronin Parano.
Friends and family are invited to visit on Wed., Feb 23, 6-8 pm, with a vigil Service at 7 pm at Crippen & Flynn Carlmont Chapel, 1111 Alameda de las Pulgas in Belmont. A Mass for Christian Burial will be held on Thursday, Feb. 23, 10 am at Immaculate Heart of Mary Church, 1040 Alameda de las Pulgas in Belmont. Interment will follow at Holy Cross Cemetery in Colma. In lieu of flowers, donations may be made in Joe's name to:
PETA, 501 Front St., Norfolk VA 23510.