From the WALL STREET JOURNAL, November 14, 2007, Letters to the Editor:
"I read your article "Alcatel Stakes Turnaround on More Cuts" (Leading the News, Nov. 1) with great interest having worked for Patricia Russo both at AT&T's Business Communications Systems division and at Lucent Technologies, pre-Alcatel-Lucent.
I had anticipated nothing less than "more cost cuts, operational improvements and a slimmer management team" as her "much-anticipated turnaround plan" for Alcatel-Lucent. Those executives who cut their teeth at AT&T, including Ms. Russo, Carly Fiorina, Rich McGinn and Gary Forsee, had a formula for any crisis. It included: cut headcount, cut budgets, reduce senior management (especially those who were threats or outspoken) and always reorganize. From 1984 on, this formula played out again and again at AT&T and its spinoffs.
Anyone can lay off personnel, cut budgets and change an organization chart. It takes true genius and creativity to grow a business. Without that genius, executives at any level are just managers.
George F. Franks III
Bethesda, Md."
George F. Franks, III is the President of Franks Consulting Group, a Bethesda, Maryland management consulting and leadership coaching practice. Franks Consulting Group is on the web at:
http://franksconsultinggroup.com
George can be reached by e-mail at:
gfranks@franksconsultinggroup.com
1 comment:
George,
An accurate assessment.
We no longer have statesmen, we have politicians. And we no longer have leaders, we have managers who play the stock / Street game.
Product development means "New and improved" Charmin. Organic growth isn't even attempted. Growth is done almost solely by acquisition and mergers. AT&T has already made 6 acquisitions just to shore up its numbers, including Dobson to insure that cellular growth continues on its books.
Regards,
Peter Radizeski
RAD-INFO, Inc.
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