Friday, May 12, 2006

Bloglines - Jozef Straus' Underwhelming Legacy

Bloglines user PeterDawson ( has sent this item to you, with the following personal message:

interesting factiods here..

Mark Evans
This blogs examines the world of telecom and technology - looking at everything from Nortel and Vonage to Web 2.0 and Google.

Jozef Straus' Underwhelming Legacy

By Mark Evans on Telecom Equipment Makers

At the height of the telecom boom, JDS Uniphase was the toast of the Canadian high-tech scene with more than 10,000 employees in Ottawa. Meanwhile, its beret-wearing CEO Jozef Straus became the man of the moment - rocketing from a-little known telecom executive to magazine cover-boy. Then, the telecom boom came to an end, JDS moved its corporate headquarters to San Jose, and the company started to lay off thousands of employees, including most of its workforce in Ottawa. Straus, however, was savvy enough to walk away from JDS with more than $150-million - most of them from exercising stock options before retiring in 2003.
  Perhaps the final chapter of JDS' sad story in Ottawa is news the federal government is about to sign a 25-year, $600-million lease for a new headquarters for the RCMP. When the lease expires, the government can buy the state-of-the-art complex for $1 from Minto Development, which purchased the complex a few years ago for $30-million. Does it seem perculiar to anyone that Straus is still well-regarded with Ottawa's high-tech community when, at the end of the day, there's almost nothing left of JDS? Isn't entrepreneurial success (at one important aspect) the creation of something tangible that benefits from community? Sure, JDS created a few millionaires if you were smart enough to sell at the right time but that's about it. At least the RCMP will be happy when they move into their new digs, which features a gourmet kitchen, 300-seat auditorium and gym.

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