Posted on 06/17/2005 11:39:53 AM PDT by misterrob
Just announced on CNBC that the jury hearling the trial of the CEO and CFO has a verdict. Let's hope they nail those scumbags....
Good question. I find it really strange that the same conservatives that are against two law-abiding adults of the same gender having consensual sex, are for same-sex rape in prison.
Those types of conservatives scare and worry me.
Where, exactly, is the money? Will anybody ever get any of those millions back?
Huh? I was replying on the 'prison rape' comment. Are you sure you are replying to the right person?
This bears repeating - there is no truism that is more true!
Never trust anyone from Seton Hall. Robert Brennan and Karl Kozlowski are both alums, as are a few other convicted felons. Koz went to Seton Hall Prep for high school, while all the truly smart Newarkies went to Essex Catholic.
Karl = Dennis.
Sadly, since prison rape is the one human rights violation tolerated in our prisons (since it's the inmates, and not the guards dishing it out), it gets latched onto as the only way to get a more emotionally satisfying punishment.
I like all these convictions as they send a message to CEO's that there are some limits on their predations on their companies. It also tells their subordinates that there can be consequences for emulating their bosses' worst habits.
I guess that the real problem is that a big public company really has too many shareholders for a unified voice over a CEO. It's just very difficult to get enough shareholders together to crack down on misbehaving executives. So an unethical executive has little to fear.
You know, your's is the most rational explanation I could have hoped for to explain this phenomenon. It makes sense.
I think you meant "and cost stockholders billions and billions"
its good to get these guys put away, but the legacy of the late 1990s is that so many CEOs and executives, along with their wall street allies, looted their companies and got away with it."
During the same time period I knew someone who was working as a commission sales rep for a Tyco division and the commissions he could earn were so miniscule as to make it nearly impossible to survive even at the lowest level imaginable. I guess they needed the money to buy more Vodka urine.
I don't consider them to be conservatives. I don't consider any homosexual addict, fan, or enabler to be conservative. Wicked yes, Conservative no.
You missed point and ignored the 'rape' comment in my post.
You missed my point and ignored the 'rape' comment in my post.
I wonder if anything will ever be done about the trillions looted from the Treasury under a Republican government.
you're right. this thieving scumbag would have walked in californica.
These "expenses" were written off thus reducing the Company's tax burden. Who has to make up the difference? The rest of us.
"and cost taxpayers billions and billions"
I think you meant "and cost stockholders billions and billions"
Due to the scandal, the stock value dropped by billions and billions. The actual money stolen was a few hundred million. Pay tax on a few hundred million might get you 100 million. Plus a lot of those few hundred million was spent and that should have been reported as someone elses income. Total cost to taxpayers might have been 50-80 million at most, and not billions and billions.
I also think Tyco is incorporated in Bermuda to avoid taxes, which means there was probably no taxes lost to the US. I don't know bermuda's tax laws, but I suspect, they suffered little if any loss.
Tyco is incorporated in Bermuda and presumably pays no US income tax.
Dennis Kozlowski and Mark Swartz have been found guilty by a New York jury of taking $137 million in unauthorized compensation and making $410 million from sales of inflated shares. Each of the two men was convicted of 22 of 23 charges. The verdict came in the 11th day of deliberations.
The first prosecution of the two men ended in a mistrial in April 2004. Kozlowki and Swartz each face a maximum of 25 years in prison for grand larceny, the most serious charge. I did not think the grand larceny charge was proven.
Tyco International is incorporated in Bermuda.
Stockholders yes. Taxpayers not quite that much - but they used quite a few interest-free loans and tax shelters in order to dodge taxes - as well as the art scam they ran which cost the taxpayers of NY approximately $2 million on one piece alone, I believe.
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