Lucent Technologies shareholders won two victories Wednesday, passing two proposals that urge the board of directors to link top brass compensation more closely to the company's performance. Ralph Maly, vice president of the Communications Workers of America and a former employee of Western Electric (which became Lucent Technologies), called on the company to "stop the obscene excessive executive bonuses." Russo fielded many questions about Lucent pension funds, and at one point became testy when asked whether the management pension fund had adequate cash."Under current law, our pensions are adequately funded, period. That's it," Russo said. Download complete article AND Ralph Maly's speech at the Shareholder's Meeting, in PDF format.
