portfolio. If not for her corporate malfeasance, my house would already be paid off.
Whatever the exact extent of Fiorina’s role, Lucent was soon sucked in deep, making big loans to sketchy customers. In an SEC document filed just after Fiorina’s departure, the company revealed that it had $7 billion in loan commitments to customers — many of them financially unstable start-ups building all manner of new networks — of which Lucent had dispensed $1.6 billion.
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If she had held onto the stock and options instead of selling them, that $85 million would have evaporated.
That’s what happened to most Lucent investors. Soon after Fiorina left, the company began to collapse. Eventually its shares crashed to less than $1 and in 2006 the company merged with Alcatel ALU 1.41% .
I had more in Lucent at the time than in any other stock. Obviously small investors, at least, were never provided any info about the 'big loans to sketchy customers' that went on under Fiorina's time there. And I had bought in basically at the peak, and within weeks was watching the stock in free fall.
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