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EDITORIAL
Lucent Technologies Inc.'s concern about its stock being delisted by the New York Stock Exchange because the price fell below a $1 threshold should spark concern over whether the tail (i.e., the pension fund) will start wagging the dog (i.e., the corporation).
In fact the pension fund could make Lucent a takeover target. The recent market value of Lucent is only $2.3 billion. Yet its pension fund, according to the company's latest annual report, had $35.5 billion...