Essay by seenashCollege, UndergraduateA+, October 2014

download word file, 2 pages 0.0

Summary: The author discussing, "Tyco's I'm Sure It Was a Nice Shower Curtain main points were compensation levels, amount of debt acquired from the acquisitions and decrease in stock levels. Dennis Kozlowski started with Tyco shortly after graduating college. He worked with them since the 70's. He was the CEO for a decade. During this time, he became comfortable with the organization, board of directors and its employees. He met and worked with many subordinates that shared the same views and corporate goals. "He was trying to build Tyco into a conglomerate" He amassed a great amount of wealth with Tyco's help. He used Tyco's employees, business associates and any additional individual that proved beneficial to his cause. He felt like he had earned the right to use Tyco as his own corporation. He was given complete control over Tyco and was trusted implicitly. The stock value was at an all time high.

He was acquiring corporations rapidly. Also, we did not have the accounting policies and procedures in place as we do now. Tyco did not have any type of ethics training during this time. This was during a time when large corporations avoided paying corporate taxes. Big businesses were running the economy. He felt like Tyco was his company and he earned this right. During his era, the theft, deceit, and money laundering became too large for one person. He had to include key people and buy his way out during the way.

He included people when necessary and if they were about to blow the whistle. He manipulated and adjusted accounting documents as he saw fit. He coordinated programs to cover his loans and overspending. Overall, he felt he was untouchable and unstoppable. Several years later, he still feels what he did was...