Tyco International Ltd.
- Homepage: http://www.tyco.com/
June 2002: "Tyco International is the world's largest manufacturer and servicer of electrical and electronic components, as well as undersea telecommunications systems. We are also the world's largest manufacturer, installer, and provider of fire protection and electronic security services-not to mention our strong leadership positions in disposable medical products, plastics, and adhesives, and the manufacture of flow control valves. Our Company operates in more than 80 countries and has over 180,000 employees." http://www.tyco.com/main/business/welcome/
Role Name Type Last Updated Owner of (partial or full, past or present) United States Surgical Corporation Organization Feb 12, 2008 Organization Executive (past or present) Mark Belnick Person Organization Executive (past or present) Timothy E. Flanigan Esq. Person May 19, 2009 Possible/Unclear Leon C. Hirsch Person Feb 12, 2008 Organization Head/Leader (past or present) L. Dennis Kozlowski Person Organization Executive (past or present) Mark Swartz Person Jun 3, 2005
Articles and Resources
Date Fairness.com Resource Read it at: Jul 20, 2008 Lawsuit Threatens Sarbanes-Oxley Act
QUOTE: A sideways challenge to the law is before the U.S. Court of Appeals for the District of Columbia Circuit. The question: whether the Public Company Accounting Oversight Board, created by Sarbanes-Oxley to clean up the Enron-tainted auditing profession, is constitutional.
Washington Post Dec 10, 2006 Poisoned by Scandal, Craving an Antidote
QUOTE: hundreds of executives are anxiously discussing how hard they should look for evidence of options backdating or other accounting problems. At companies where far lesser frauds or malfeasance emerge, executives face an even more ticklish quandary: Should they reveal everything, and then confront the hazards of bad publicity and outside investigations, or clean things up and hope that the problems will evaporate unnoticed? Rent-Way’s own journey, which came to a head last month, offers a chilling lesson: Even the most virtuous decisions have unforeseen, often damaging, consequences, and full disclosure may create as many problems as it solves.
New York Times Aug 31, 2006 Look Who's Left Standing: Legal Penalties in Frauds Are Seldom Paid by Legal Advisers
QUOTE: Four years after regulators launched a task force to stamp out business corruption, numerous chief executives are on their way to prison, two of the nation's biggest accounting firms are defunct or on probation, and investment banks have shelled out billions of dollars in settlements....Unlike the accounting profession, forced by the Sarbanes-Oxley Act in 2002 to submit to independent oversight, lawyers have generally ducked proposals that would have forced them to blow the whistle to outsiders.
Washington Post Aug 22, 2006 Backdating's New Blacklist
QUOTE: According to headhunters, employees of scandal-tainted firms often have difficulty finding new jobs, even if they weren't directly involved in any nefarious activity.
Forbes Jan 18, 2006 SEC seeks to pull covers off exec pay
QUOTE: It will be easier for the public to discover the million-dollar perks enjoyed by top executives...under rules federal regulators unanimously proposed Tuesday.
San Jose Mercury News Jun 18, 2005 Ex-Tyco Executives Convicted: In Retrial, Former CEO, CFO Found Guilty of Stealing Millions
QUOTE: "A Manhattan jury on Friday convicted former Tyco International Ltd. chief executive L. Dennis Kozlowski and former chief financial officer Mark H. Swartz on multiple counts of looting the company, handing prosecutors a big win in their crackdown on corporate crime and concluding a legal drama that stretched across two trials and three years."
Washington Post Apr 03, 2004 Tyco Case Raises Issue Of Jurors' Anonymity
QUOTE: "The media are to a large extent responsible for this outcome....You don't reveal jurors' names in the middle of a trial."
Washington Post Feb 04, 2004 Snitching on the Top Dog; Lowly Employees Wield Great Power at Bosses' Trials
QUOTE: Generally, juries don't look askance at subordinates who agree to damage higher-ups in exchange for leniency from prosecutors and regulators...
Washington Post Dec 18, 2002 Deciding on Executive Pay: Lack of Independence Is Seen
QUOTE: An examination of almost 2,000 corporations finds that at hundreds of them, members of the compensation committee work for or do business with the company or its chief executive.
New York Times Oct 09, 2002 Buildings donated by 'corrupt' CEOs face name shame
QUOTE: But now, those big donors have tarnish around their names. Some of them are in jail, some are indicted and accused by the government of being crooks. Should those names be sandblasted off the walls?
Law.com Sep 15, 2002 Corporate Scandals Tainting Donations
QUOTE: ...a moral dilemma for universities, museums, charities and politicians wondering whether they have been the inadvertent beneficiaries of ill-gotten dollars....Under law, gifts traceable to the proceeds of a crime are in most cases subject to forfeiture.
Washington Post Aug 21, 2002 Patriotism Raining On Tax Paradise
QUOTE: Reincorporation -- also known as corporate inversion or corporate expatriation -- has been around for decades, but the accounting maneuver has become increasingly popular as economic conditions lower the costs and raise the rewards.
Washington Post Aug 08, 2002 Former Imclone Chief Indicted
QUOTE: A federal grand jury here indicted former ImClone Systems Inc. chief executive Samuel Waksal today on 13 counts of securities fraud, bank fraud, perjury, obstruction of justice and other charges...
Washington Post Jul 22, 2002 Getting Paid in Planes, Perks, and Automobiles
QUOTE: When do perks cross the line?...The answers are seldom black and white.
Fortune Jun 26, 2002 WorldCom Says It Hid Expenses, Inflating Cash Flow $3.8 Billion
QUOTE: [Worldcom] ...overstated its cash flow by more than $3.8 billion during the last five quarters in what appears to be one of the largest cases of false corporate bookkeeping yet.
New York Times Jun 19, 2002 What Happens to the Inner Circle of the Ousted CEO?
QUOTE: ...board members and/or the new CEO face a huge dilemma: How should they deal with the inner circle of an ousted CEO – those top executives who presumably supported, or at the very least were aware of, the actions and initiatives of their former boss?
Knowledge@wharton Jun 13, 2002 Bermuda Move May Sound Good, but Investors Could Get Burned
QUOTE: Some shareholders say that when companies acquire a Bermuda address to reduce taxes, they also reduce the rights of shareholders...
New York Times Jun 10, 2002 A Worm at the Core of Capitalism
QUOTE: ...bosses did well not because they served consumer needs, but because accountants lied about their records.
Washington Post Dec 09, 2001 The Dangers Behind a Leap of Faith
QUOTE: Because trust-me companies often depend on easy financing, they are especially dangerous when the stock market or economy turns sour...
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