More Red Ink at Alcatel-Lucent

Weak telecom spending and subprime fallout have further delayed recovery for the Franco-American group. Is management up to the task?

Battered telecom-equipment group Alcatel-Lucent (ALU) delivered a fresh set of disappointing numbers Feb. 8, posting a $3.74 billion fourth-quarter loss and canceling its 2007 dividend after taking a writedown of more than $3 billion on its U.S. wireless business.

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