Word: tyco
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...sent by her assistant. Prosecutors used an e-mail exchange between Stewart and her broker that occurred shortly before Stewart sold her Imclone shares to prove that they knew they were acting on insider information. Stewart was convicted in the case and served five months in jail. In the Tyco case, prosecutors used e-mails to show that chief executive Dennis Kozlowski and chief financial officer Mark Swartz pressured Wall Street firms to maintain positive ratings on their company...
...officially in a recession now, but we may still think back upon a happier economic time for instruction: prosperous, distant 2005. In that year, two executives of the multi-national manufacturing firm Tyco received prison sentences for stealing hundreds of millions of dollars from the company for various personal purposes—most infamously, former chief executive officer L. Dennis Kozlowski’s $6,000 shower curtain. These sentences—ranging from 8 1/3 to 25 years of incarceration—were considered forceful messages to other executives tempted to skim off their company’s bottom...
...human. People become the bad guys rather gradually. I don't think they start off saying, 'oh, I know what I'll do.' You do incrementally stupid things that you figure, well, this helps my family, I can justify it. And you wake up one day and it's Tyco...
...statement movie in that it's put in a world that we recognize really well in the middle of all the corporate screw ups that have gone on lately. There's two ways of addressing these kind of things. You can make a movie about Tyco and all of that or you can make a movie about a man who's failed in life, failed in his family, failed in his own expectations, and put it in the world of something we recognize as a real issue at this point ? and corporate greed in particular, is a great one. This...
...surprising, then, that this intersection of reality and unreality centers on money, arguably the core value of American society today: How else can anyone explain former Tyco CEO Dennis Kozlowski’s $6,000 shower curtain? Second Life suggests that this warped valuation controls not only our real world, but also our fantasy world—a very troubling thought...