For Lucent, No Easy Options

To emerge from its crisis, it must find a way to stem losses, get a buyer, or file for bankruptcy -- and time is running out

Analysts cheered on June 5 when Lucent Technologies Chairman and CEO Henry Schacht indicated that the ailing telecom-equipment giant would show a modest improvement in revenue for the third period over the previous quarter, which ended on Mar. 31. Although the company will lose billions of dollars in the quarter, the promise of slight revenue growth was enough to offer a glimmer of hope that its long-awaited turnaround is beginning.

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