Lucent, Unions to Talk Beyond Deadline
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Lucent Technologies Inc. LU.N and  unions representing roughly 10 percent of the  telecommunications equipment maker's work force said on Friday  they have agreed to extend talks a week beyond a midnight EST  Sunday contract deadline.
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Unionized Northern California grocery workers union set a Sunday deadline for contract talks and said they would hold a strike vote next week if necessary.
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(InfoWorld) - AlcatelÂ shareholders have been urged by a French advisory group to reject theÂ proposed merger with Lucent Technologies, citing unfavorable financial and corporate governance terms. Proxinvest, which provides services for institutional investors holding shares in the French company, said strategic aspects of the deal make sense, but that the financial terms appear "quite unfavorable" to Alcatel shareholders and that the corporate governance conditions are "very disappointing." The group is against removing the age limit for the position of chairman, and a rule that a two-thirds majority of directors would be needed to dismiss the chairman or chief executive officer of the combined company. It made its recommendation in a letter to fund managers published on its Web site earlier this week. Proxinvest's views are at odds with that of a U.S. advisory group, Institutional Shareholder Services (ISS), which supports the deal. Lucent and Alcatel shareholders are due to vote on the merger Sept. 7. In the U.S., meanwhile, a group of shareholders is trying to block the Lucent shareholder vote, arguing that the company's board of directors is failing to maximize shareholder value. A New Jersey Superior Court judge will consider on Sept. 6 whether to grant an injunction blocking the vote, according to a filing by Lucent with the U.S. Securities and Exchange Commission on Tuesday. Lucent called the action without merit. The European Commission and the U.S. Federal Trade Commission have approved the merger, which was announced in April. The networking equipment vendors, which sell optical core switches, DSLAMs (Digital Subscriber Line Access Multiplexers) and other networking gear, would have had combined revenue of $25 billion for 2005. If the merger goes ahead, Lucent Chairman and CEO Pat Russo will become CEO of the company, which would be renamed Alcatel Lucent. Serge Tchuruk, chairman and CEO of Alcatel, would become its non-executive chairman. The merger would create a networking giant that will compete with Siemens and Telefonaktiebolaget LM Ericsson, among others. Lucent has a strong foothold in North America, while Alcatel has a strong customer base in Europe. The proposed merger comes after increased competition has put pressure on both companies' bottom lines. For its fiscal third quarter ending June 30,Â Lucent reported revenueÂ of $2.04 billion, compared with $2.14 billion in the previous quarter and $2.34 billion in the same quarter a year ago. Lucent attributed the decline to slower sales in North America and China. Alcatel'sÂ net income droppedÂ for its second quarter to â¬180 million ($226 million as of June 30, the last day of the period reported) from â¬196 million a year earlier. It's net revenue increased to â¬3.4 billion, from â¬3.1 billion a year earlier.ADVERTISEMENTMAKE SOA REAL WITH IBM WEBSPHERE PODCASTStreamline processes and maximize efficiency within a proven service oriented architecture. Take back control of your business processes with IBM WebSphere.
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HALIFAX -- After more than four months on the picket lines, two striking unions have reached a tentative deal with Aliant -- Atlantic Canada&#39;s largest telecommunications company.
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Negotiators for a clerical union and some of the world's largest shipping lines and terminal operators were still far apart on a contract deal early Monday and facing the possibility of a strike that could cripple the nation's largest port complex.
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Federal regulators are considering civil charges against two former executives of Lucent Technologies Inc. and a third ex-employee of the telecommunications gear maker over
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A compromise deal was in view at the end of more than 20 hours of management-union talks aimed at breaking the deadlock in wage and job talks, according to sources close to the talks.
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Alitalia's talks with unions look set to continue into the weekend, as management struggle to reach a deal with cabin crew.
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The United Autos Workers union said on Tuesday that bankrupt parts maker Delphi Corp.'s  management will be forced to meet with the union to reach a settlement.
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Protracted negotiations between Lucent Technologies and its unions resulted in a contract agreement yesterday requiring 70,000 retirees and 3,250 active employees for the first time to pay a portion of their health premiums.
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The offer to invest up to $3.4 billion hinges on Delphi reaching a new labor agreement with its unions, led by the United Auto Workers, by Jan. 31.
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Members of the grocery workers union will continue to meet to discuss the final contract proposal from King Soopers, Safeway and Albertsons following a surprise decision by the international union to halt voting on the offers.
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The United Auto Workers union extended its contract with General Motors Corp. on an "hour-to-hour" basis on Saturday as the two sides continued labor talks beyond a Friday deadline.
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The United Autos Workers union said on  Tuesday that bankrupt parts maker Delphi Corp.'s   management will be forced to meet with the union to reach a  settlement.
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Negotiators met past a midnight Friday deadline as unions across the country prepared for a possible strike.
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A plan by union workers to keep the Alcatel - Lucent telecom plant on the Haverhill/North Andover line from closing is being reviewed by officials at the company's New Jersey headquarters, a spokeswoman said.
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The United Auto Workers union and General Motors Corp. remained locked in negotiations late on Friday as the largest U.S. automaker headed toward a midnight deadline to either clinch a deal or face a possible strike.