Word: tyco
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...some investor groups, "don't want to commit commercial suicide by moving ahead of international standards." He adds: "We are not willing to jump into the volcano if others are not ready to follow." Corporations feel the same way: Why give up a legal advantage? The board of Tyco, for example, is recommending to shareholders that they vote at the annual meeting next month for the scandal-ridden firm to remain incorporated in low-tax Bermuda. But some investors and bankers are now focusing on the issue as a result of the recent scandals. While many big investors have been...
...Tyco in Margaritaville
Your item on the $2 million birthday party that former Tyco CEO Dennis Kozlowski threw for his wife [Nov. 10] asked, "$2 million and the best he could do was Jimmy Buffett?" But Parrot Heads (as Buffett's fans are known) the world over would insist that Kozlowski's choice of musician was probably the single best decision he made during his Tyco tenure! RICHARD D. BELISLE Severna Park...
...TAKING FROM THE TILL Adelphia Communications' John Rigas and Tyco boss Dennis Kozlowski used company money as their own, say prosecutors. Among the charges against Kozlowski, whose trial is under way: throwing a $2 million party on Sardinia for his wife, funded mostly by Tyco. Kozlowski and Rigas, whose trial starts in February, both say they're innocent...
...birthday cake with pyrotechnic bosoms; a troupe of shapely, toga-clad dancers; a Jimmy Buffett concert--who knew there was such a variety of ways to exhibit poor judgment? Jurors in the trial of former Tyco CEO DENNIS KOZLOWSKI, flanked here by a pair of hired Roman revelers, watched a 21-minute videotape last week of a $2 million birthday party Kozlowski threw for his wife on the Italian island of Sardinia in 2001. Kozlowski, who stuck his firm with half the tab for the blowout, is accused of bilking Tyco out of $600 million. He appears on the tape...