Brinks bought by ADT

[John Cahill]

http://abcnews.go.com/Business/wireStory?id=9596292


Tyco who owns ADT buys Brinks Broadview

[Mark E. Northrup]

wow i guess there won't be a price war anymore. Get ready for high priced security systems.

[Nick Gromicko]

My friend Dennis Kozlowski was CEO of Tyco. He is helping me with my coats-for-kids project from his prison cell in upstate NY. Good man.

[Emmanuel J. Scanlan]

Originally Posted by gromicko

My friend Dennis Kozlowski was CEO of Tyco. He is helping me with my coats-for-kids project from his prison cell in upstate NY. Good man.

What's he in for, breaking and entering??

[John Onofrey]

Originally Posted by escanlan

What's he in for, breaking and entering??

Wheel, deal and steal.

60 minutes on Koslowski

[Nick Gromicko]

Bad timing mostly. Enron didn't help either.

[John Onofrey]

Originally Posted by gromicko

Bad timing mostly. Enron didn't help either.

Bad time to be a crook. Lol

[Nick Gromicko]

He's not a crook. His pay was contractually tied to performance, that was why he earned so much money. He was called "Deal a Day Dennis" because he was buying up a company a day for Tyco. He made everyone rich.

[mnahrgang]

Originally Posted by gromicko

He's not a crook. His pay was contractually tied to performance, that was why he earned so much money. He was called "Deal a Day Dennis" because he was buying up a company a day for Tyco. He made everyone rich.

So why is he in jail? He apparently didn't do something right.

[Nick Gromicko]

So why is he in jail? He apparently didn't do something right.

You don't believe that everyone in jail is guilty, do you? There was no criminal intent. At most his compensation (which was excessive) should have been a civil matter, but the company made gobs of money while he ran it, so who can complain? TYCO's board of directors approved every penny, including the $6K shower curtain. He took TYCO from a $40 million operation to a $40 billion operation. There is a 1,000 million in a billion... and they are worried about $6K for a shower curtain. What a nutty world we live in.

[mnahrgang]

Originally Posted by gromicko

You don't believe that everyone in jail is guilty, do you? Of course not, but everyone in jail is innocent. At least that's what they say. There was no criminal intent. Irrelevant as: "I'm sorry officer, I didn't mean to run that red light..." Guilty is guilty. At most his compensation (which was excessive) should have been a civil matter, but the company made gobs of money while he ran it, so who can complain? I doubt he was charged with getting "paid" to much. TYCO's board of directors approved every penny, including the $6K shower curtain. So what, Paige robbed a bank and you approved it, she would be just a guilty. He took TYCO from a 40 million operation to a 40 billion operation. There is a 1,000 million in a billion. That's great, but not what he is in jail for, is it?

Again, you dodge the question.

Why is he in jail?

[Jeffrey Moore]

From CBS story:

"That jury convicted him of 22 counts of grand larceny, conspiracy and securities fraud

Accused of looting his company of hundreds of millions of dollars and living the life of a pasha at stockholder’s expense, he was the living, breathing version of "Wall Street's" Gordon Gekko.

The Manhattan District Attorney's Office happened to be investigating art galleries that were helping customers avoid sales tax. Kozlowski had purchased $13 million worth of paintings, including a Renoir and Monet, for the Tyco apartment, but prosecutors said he had them shipped to Tyco's offices in New Hampshire – a state without sales tax. They were then trucked back to New York.

In 2002, The Manhattan District Attorney’s Office indicted Kozlowski for evading over $1 million in sales tax and he resigned as CEO of Tyco."



He is appealing his conviction. Wife is divorcing him, and after all said and done he may not have much left.

Now he did work himself up from $28k to 170million or so per year.

[Nick Gromicko]

Your example of "robbing a bank" is a criminal matter and so is not analogous. This was a civil matter and if you watch Morley Safer's Reporter's Notebook video on the matter, you'll see that even he agrees.

He's in jail over a civil matter.

[mnahrgang]

Originally Posted by jmoore5

"That jury convicted him of 22 counts of grand larceny, conspiracy and securities fraud

doesn't sound like a "civil" matter to me. Apparently not to the prosecutor or the jury either...

theft is theft, so the analogy is accurate.

[Nick Gromicko]

What conspiracy? All the evidence the prosecutor used was taken right from TYCO's public records. He didn't lie about it. He didn't shred any documents. What larceny? The BOD's compensation committee approved every penny. I'm not saying he wasn't found guilty, he was found guilty. He's just not actually guilty.