"D Murphy" wrote in message
...
"John R. Carroll" wrote in
:


These have either gone or are going to jail except for Lowell Milken.
Mike went for him.

Dennis Kozloski, Tyco. Theft. Fraud, Conversion.

His conviction will be overturned. There are no laws governing
compensation, and that is basically what he was convicted of, being paid
too much.

Here is a guy that grew the company by 80 billion dollars. Tyco grew to be
larger and more profitable than GM. He did this in the midst of a
recession. In 2001 the company had a pretax profit of over 5 billion
dollars. What is fair compensation for someone who brings in those kinds
of
numbers?

Does he have a big ego? Sure. Wouldn't anyone who bagged the deals he did?
The SEC investigated Tyco and found no fraud, wrong doing, or illegal
accounting. The company is still in business and never tanked in fact Tyco
made loads of money.

So he's been convicted for buying an expensive shower curtain, throwing an
expensive party, and being paid too much money. I doubt his conviction
will
hold up under appeal. He will probably get nailed for not paying enough
income tax at some point.



Dan,
Several million dollars worth of corporate art were misappropriated and
somehow or other the taxes and duties on those purchases were illegally
avoided. I don't know the details or even how this was resolved but I
wouldn't be surprised if his conviction was indeed overturned.
Most of what I did see was crass but not against the law. Sometimes it's not
such a good idea to flaunt what you have.
As for Tyco's fortunes, they will be ,and are, strengthening significantly
as the result of the divestiture plan implemented when Dennis "moved on". He
had them into many businesses the had no business being in. A lot of those
purchases are now history. I couldn't tell you how they ended up.


--
John R. Carroll
Machining Solution Software, Inc.
Los Angeles San Francisco
www.machiningsolution.com