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Officers | Board
Members | Regional Leaders | Financial Matters | Lucent
We have gotten a lot accomplished in the last two
weeks including, becoming incorporated and electing officers. The Lucent Retirees
Organization is now OFFICIAL. We were incorporated last week in the state of New York. The
LRO operates under the terms of the bylaws drafted by our Board of Directors. We are
continuing to refine and amend our bylaws as our organization evolves. As outlined in
our existing bylaws, modifications to our bylaws must be approved by a majority vote of the
Board of Directors.
The LRO Directors
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The LRO’s Board of Directors consists
of all officers plus
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The Regional Organization Leaders are:
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The LRO is an organization inclusive of all BENEFICIARIES UNDER THE LUCENT PENSION PLAN.
This includes entities such as TTY, Sandia, etc.
Dawn Truax has volunteered to coordinate and edit
our Newsletter and News Updates. Please contact Dawn with any items you would like included
in future issues of the LRO Newsletter or News Updates. Dawn is establishing a new
email address. In the meantime, you can reach Dawn at 303 948-0949.
We have just received confirmation
of our Tax Identification Number. We are now
able to officially open a bank account in the name of the “Lucent Retirees
Organization". This account will be used to support the operation of the LRO. The
account will primarily be a vehicle for the receipt of income (dues, contributions,
etc) and the disbursement of funds for payment of invoices, reimbursement of expenses,
purchase of necessary administrative items, and payment for appropriate contracted
professional services. We currently have obligations for legal fees and web site
charges. Other expenses are on the horizon. Prudent business practices dictate that we
pursue indemnification insurance for the LRO. Unfortunately the litigious nature of
our society has made this kind of insurance a requirement for organizations like theLRO.
Internal controls will be established to verify the authenticity and appropriateness of all
disbursements. We are working with a Public Accounting firm in Chicago, through the
assistance of Matt Carr, for handling the necessary auditing requirements in accordance with
generally accepted accounting practices and IRS regulations. Bob Janish, located in New
Jersey, has volunteered to spearhead this overall effort and temporarily act as LRO
Treasurer. By now, you should have all received the request for dues payment. Please note
that there are two (2) two payment options:
$25.00 a year annual dues
$350.00 lifetime membership
We would like all of you who can, to
consider the $350.00 lifetime membership option. This will help us “kick start” the LRO.
As mentioned earlier, the LRO has already incurred several bills in the course of
establishing our organization.
Currently checks are the only payment method we are set-up to accept. We are investigating
the use of credit cards and will advise you about this option if and when it becomes
Make your checks payable to: Lucent Retiree Organization.
Mail your payment to:
Attn: Bob Janish
208 RICHARD ST.
CRANFORD N.J., 07016-2546.
Our future is dependent on our size.
The more members we have, the stronger we are as an organization. Please help us get the
word out! We are working to increase retiree awareness and membership in the LRO. Make sure
every retiree you know is aware of the organization, our mission, and how to join. Also,
help others without email access to register and by copying the newsletter and giving them
hard copies to read. Eventually, we hope to have the funding and manpower to support
printing and mailing hard copies of our communications. Unfortunately, this is not something
we are able to do at this time.
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Eight of our nine (9) Regions now have volunteer leaders who are working to establish their
groups and define the role the regions will play in our national organization. In addition,
we have someone in place to coordinate all of our volunteer activities. If you would like to
volunteer please contact Nick Finamore at: NickFin@att.net.
We need all of computer savvy members help us to reach out to the many Lucent Retirees who
do not own computers. We are planning on putting a printable application on our website that
can be downloaded and provided to those without computers. We are working with the regions
to coordinate this effort. More to follow when we get the details worked out.
Pete Peterson is collecting copies of letters and e-mails that retirees have written to both
Lucent and their elected representatives. The idea is to identify the issues that are of
greatest concern to our membership. We are also endeavoring to stay apprised of any
responses that may be received and/or any actions that may be taken with regard to these
Additionally, Pete will attempt to answer retiree’s questions or refer them to some of the
subject matter expert volunteers. Pete can be contacted at: email@example.com
Last week The National Retirees Legislative Network (NRLN), see links on our web site, met
in Washington DC. We were fortunate to be invited and had one of our Maryland volunteers
attend. We will be sharing his notes and views on this organization in a subsequent update
As requested, we will soon post ”biographies” for each member our LRO Board of Directors
on our website.
Proxy for Shareholder Meeting
All of us still owning Lucent
stock will be receiving a proxy statement either in the mail or on line in the next few
days. Also, some of you who have stock with the 401K plan or various IRA plans will want to
be sure you vote you proxy. This is very important, it is our first
opportunity to voice our collective opinions and start having an impact! The LRO recommends
A NO vote on the two
directors up for reelection. Lucent’s board is rated one of the worst in
corporate America and we need fresh blood that take fiduciary and oversight
A NO for the stock
stock is over the $1 minimum and the market is picking up. Other companies have used
this as a guise to force smaller investors to sell at huge losses. Other
companies, which have done reverse splits, also have seen reduction in the overall value
of the investment.
A NO vote for the Management
Compensation Plan. We want to send a message
that they don’t deserve the compensation till they do a better job.
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