Dennis Kozlowski: Prisoner 05A4820
A year ago or so, the air was thick with tales of corporate scandal, lost pension funds, big time theft and even bigger time prison sentences for the Enron gang. Then there was Dennis Kozlowski, CEO of Tyco, who was found guilty of – in effect – using Tyco’s immense financial resources for what the prosecution described as his "own personal piggy bank."
You might remember the $6,000 shower curtain, and stealing over $100 million from the company.
60 Minutes had a segment on Dennis Kozlowski's rise and fall:
Amazing how money can attract the leaches but in the end, the truth was revealed:
Asked if the marriage was all about money, Kozlowski says, "Morley, we're in the middle of a divorce and agreement. I'm not going to say anything about that, you know, at this time."
He says he tries to stay positive. He's 60 years old now, but the harsh reality of his predicament is inescapable.
"When you're sleeping in jail, you wake up all the time because there's a light on all night. So you kinda wake up every hour, hoping and wishing and praying and hoping it was just a dream, you know. It's reality and it’s where you are," Kozlowski says.
"Often times, guys get religion inside. Has that happened with you?" Safer asks.
"There's a spiritual side that, you know, I think about and reflect on from time to time. But that's personal and private, you know, within me," he replies.
"Yeah. And you've got the time to do it now," Safer remarks.
"I have plenty of time," Kozlowski says. "Yes. That I have. Yeah."
I look at the excesses of these CEOs and I see individuals who squander millions while the poor are starving. I think Kozlowski may have been in the dark on some things but when he spent $2 million for his wife's birthday party in Sardinia with all the fleshy models, he knew what he was doing. She looks like a bitchy leach. Now, she going into kill mode and she's going to try to take him to the cleaners.
Originally Posted by Daringly
P.S. When you see egregious excess like this, you wonder if capitalism is sowing the seeds of its destruction.
Last edited by General Gonad; 03-25-2007 at 09:00 PM.
What is there going to be left for her to keep? If I were the judge in their divorce proceedings, I would make sure anything she would get would be after the government, the shareholders and anyone else waiting to sue the SOB.
Originally Posted by General Gonad
In American companies, there is lots of abuse on all levels. Large public companies almost can't get rid of it. It doesn't pale to the abuse that Enron and Tyco scandels, but I can tell you stories of buried treasures and open pits where money flows into, but the difference is no one person is responsible for it. It's a culture.
Yes, the culture of corporate arrogance and corporate excess. It's disgusting how these CEOs get away with this sort of stuff while shareholders lose millions. Pay for performance my ass!
Originally Posted by daydreamer41
It says he got 8 to 25 years in prison, what does that mean????
Did he get 8 years, 25 or something in between????
It is hard to see how he got away with it, I don't think I would be prepared to spend 8+ years in jail just to enjoy millions of dollars I did not earn. Particularly since he was wealthy already. Perhaps lots of CEOs get away with it, but he didn't.
Originally Posted by General Gonad
He is obligated to do 8 years and then he is eligible for parole. He has to go before the parole board after 8 years and plead his case for parole. Victims can oppose his parole and testify against it.
Originally Posted by Esco!
In US Federal cases, he can be discharged after serving 85 percent of his maximum term, the 25 years and can serve 21 years and 3 months and get out without being granted parole. His term must be without serious incident for that to happen. Prisoners on parole are still subject to scruntiny and can have their sentences recalled if they violate the parole.
I personal doubt he will serve less than 15 years. He would be 75 and probably not in the greatest of health.