How to steal $600M...
 

Those Tyco guys are pathetic. How can a person possibly spend $600M, particulary on luxuries? I'd be ecstatic to own $1M in rental properties. I cannot fathom 600 times that amount. I guess I'm just small potatoes.

I hope those execs rot in jail.

jürgen

Re: How to steal $600M...
 

Hopefully it's "federal pound me in the ass prison" but more likely it will be a country club joint.

The cold hard reality is, the golden rule still applies - they with the gold make the rules. The rules happen to consist of giving yourself lots of cash out of the company coffers. That's the beauty of Corporate America.

Our Tyco friend is a corner case in that he got caught. My guess is he pissed someone off, and his getting caught is the subsequent result.

It appears our friend Kozlowski (and wife) was caught during the fake art delivery to New Hampshire. As a result NY prosecutor Morganthal (SP) wanted his ass in a particularly bad way....how dare he cheat NY out of sales tax. I suspect it runs much deeper.

I can tell you that many of Kozlowski's peers/friends fled like rats after he was nailed. Apparently they had zero clue as to what he was up to. Opinion of one is that "he should get what he deserves."

And apparently he's been spending big right up to the trial.

Also seems he's taking the advice many banks give to new employees...If you're going to steal money from us don't steal $500 or $1000, steal as much as you can, steal big...and enjoy it for as long as you can, cause where you'll end up will suck either way.

One of the reasons why America has been so successfull is that it's financial dealings are relativily transparent... as compared to the Banking systems in Germany and Japan.

Me thinks that in all too many cases in corporate America to be in upper management is to have a license if not to steal to feather ones nest (meaning that what you do maybe legal but not exactly ethical). As in any purchases the company makes...one receives a gift so to speak from the vendor. Whether it be tickets to a game, dinner, a vacation etc....Or Stock Options and salary from the Board that you helped to select.

However in other companies it's by the book...as an example GE.

PS. Or it maybe a case where upper management hires a known operator....to syphon off stuff. If the dime is dropped and they get a call at 2 AM from Internal Security they say, "Oh my Gawd we gota get this guy, how could this happen, I'm shocked?"