Word: swartz
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Dates: during 2000-2009
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...market it had targeted. Customers may pay extra for brands that speak to their conscience. Whole Foods' meteoric rise, despite the high cost of its specialty goods, is testament to that claim. "The relationship with the consumer has to be framed in an eloquent way," says Timberland CEO Jeffrey Swartz. "Whole Foods is the best company in the world at framing that conversation...
...white-collar criminals due for a sympathy vote? Everyone expected the punishment to be harsh when L. Dennis Kozlowski, the former CEO of Tyco International, and former Tyco finance chief Mark Swartz were sentenced Monday, and indeed it was: up to up to 25 years in prison. But now defense lawyers and, increasingly, many others are wondering if white-collar criminals are being treated too harshly. Some violent crimes, including rape and manslaughter, can result in less than 20 years in jail...
...Kozlowski and Swartz aren?t exactly sympathetic figures. They were found guilty of looting their company of hundreds of millions of dollars. Before Monday's sentencing, Assistant District Attorney Owen Heimer told the court that Kozlowski "should not be shown any leniency. He stole. He committed fraud. He committed perjury. He engaged in a shocking spree of self-indulgence...
...injuries that Kozlowski and Swartz inflicted were purely financial, and nowhere near the magnitude as the frauds at WorldCom and Enron?companies that collapsed and wiped out shareholders and many employees? 401(k) accounts. "Tyco is not Enron," Thomas Curran, a former New York City prosecutor who is now a defense lawyer, told the Associated Press. "Tyco is a real company with a real business plan that still employs thousands of people. ... There are no retirees eating cat food because of Dennis Kozlowski...
...investors have been demanding amends. Twenty years ago, a similar rash of Wall Street fraud resulted in only a few honchos like Michael Milken going to prison, and spending less than two years there. Now the pendulum has swung the other direction. In addition to jail time, Kozlowski and Swartz must pay a total of $134 million in restitution; in addition, Kozlowski was fined $70 million, Swartz $35 million...