Former Tyco Heads Found Guilty!
15-30 in state prison sounds good. No Camp Cupcake for these boys. Hopefully sentancing gives him a long time in a cold cell:
http://money.cnn.com/2005/06/17/news...ex.htm?cnn=yes
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Nice to see this. Some object lessons go a long way in keeping corporate executives from getting too drunk on their own power.
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One of my professors at RU was the former COO of Tycom, the telecommunications wing of Tyco and met with Kozlowski on a regular basis. She got out before all the bad stuff went down, but the stories she has about the ridiculous spending, and how Dennis always viewed Tyco as "his" company were crazy.
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Too bad they don't send him to Leavenworth. I bet they love white collar crime people there.
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How did he view it as "his" company? Will all his possessions be re-possed and given back to Tyco to sell and keep the profits? |
That is outstanding. I was a consultant at Tyco for almost 2 years right before the story of the scandal broke.
I got hammered in the stock market because I had just bought a bunch of Tyco stock right before it happened. Lost about 75% of my investment in the span of 2 days. I hope they send him to a federal-pound-him-the-ass prison. |
Flasch 'see, I told you all CEO's are crooked' comment in 5...4...3...2...1...
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Dola - And I agree with Kwhit's hopes that they get sent to an rectal expansion prison.
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zero....not "all" but a lot....these guys were too obvious. its the stuff you dont know about (which some say we can't debate because if we dont know about it, it must not exist) that we should worry about.
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Beat me to it....:) |
These guys were pretty wealthy. What is the cut off, at this point, for being rich enough to be considered above the law? It seems like it is moving up.
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State prision... so the article says. |
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Not sure about your 2nd question...but from what I heard, Kozlowski treated Tyco as if it was "his" company...as in, he was the one who put in the hard work, and therefore was able to use the company's profits like they were his own. This would be fine if he owned Tyco in a private sense, but the problem is that Tyco was a public company which is owned by millions of shareholders. He may have been the one making the decisions that made all these people rich, but the company's profits weren't something he could delve into for his own personal interests (like his wife's multi-million dollar birthday party, his $35,000 solid gold umbrella rack for his house, etc). |
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Thanks, by my second question, I mean, are all his possessions such as the penthouse/apartment, the curtains, the cars/houses, ect. going to be given to Tyco, or will he somehow keep them? |
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