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Matching entries from Houston's Clear Thinkers
Free the Koz
Dan Ackman provides this cogent WSJ ($) op-ed that calls for the reversal of the convictions of former Tyco International executives Dennis Kozlowski and Mark Swartz: Kozlowski wasn't convicted for overspending, nor for defrauding investors -- the most common charges...
An NY Times snit fuels Gretchen Morgenson's nightmare
It's not every day that a newspaper editor's defense of one of the newspaper's star columnists ends up fueling the cause to expose the vacuity of the columnist's work. As noted earlier here and here, Clear Thinkers favorite Larry Ribstein...
Investigation ordered into the David Boies Copy Club
David Boies -- who champions himself as an advocate of honest corporate governance and disclosure -- was the Tyco board's outside counsel in connection with investigating corporate fraud. Consequently, during the trial of former Tyco executives Dennis Kozlowski and Mark...
Kozlowski and Swartz sentenced
Former Tyco International executives L. Dennis Kozlowski and Mark Swartz were led away from a New York City state courthouse in handcuffs today after New York state Justice Michael Obus sentenced them to serve 8 1/3 to 25 years in...
Westar executives convicted
A federal jury in Kansas City yesterday found former Westar Energy Inc. Chief Executive Officer David Wittig and chief strategy officer Douglas Lake guilty of looting the electric utility of millions of dollars. Previous posts on the hotly-contested case --...
The David Boies Copy Club
Let's see if we can keep this all straight. David Boies -- who champions himself as an advocate of honest corporate governance -- was Tyco's outside counsel in connection with investigating corporate fraud by Tyco management, and one of the...
More on when justice destroys good reputations
This post from awhile back noted one of the by-products of the current trend toward criminalizing merely questionable business transactions -- i.e., the government's destruction of good reputations in its quest to obtain convictions against unpopular defendants. Along those lines,...
That's one helluva hangover
With Enron and other business scandals, it's been a bit difficult to keep up with the ongoing grand jury investigation in Boston into whether mutual fund employees improperly accepted gifts or entertainment from brokers. Fidelity Investments has already disciplined 16...
This is really, really not going well
During the recent trial of former Tyco CEO Dennis Kozlowski, I noted here and here that the cross-examination of Mr. Kozlowski did not go well for the defense. Consistent with that theme, this Wall Street Journal ($) article reports today...
The increasing criminalization of business
This Wall Street Journal ($) article examines the increasing criminalization of business in the post-Enron era, which has been a frequent topic on this blog. Although the article does a reasonably good job of summarizing the troubling trend, it comes...
Observations on the Tyco verdict
The morning brings several interesting obserations regarding yesterday's guilty verdict in the trial of former Tyco International, Ltd. executives, L. Dennis Kozlowski and former Tyco finance chief Mark H. Swartz. Over at Conglomerate, Professor Hurt (a former Houstonian, by the...
Kozlowski and Swartz convicted
The New York state court jury in the criminal trial against former Tyco International Ltd. CEO L. Dennis Kozlowski and former Tyco finance chief Mark H. Swartz has rendered a guilty verdict against the two former Tyco executives on 22...
This is really not going well
Following on this earlier post about former Tyco International CEO Dennis Kozlowski's handling of his cross-examination during his ongoing criminal trial in New York City, this NY Times article doesn't make it sound as if yesterday's testimony went much better...
This does not appear to be going well
Former Tyco International CEO, Dennis Kozlowski, is on trial for a second time in New York City for allegedly looting Tyco. Mr. Kozlowski's first trial, in which he did not testify, ended in a hung jury. In the second trial,...
The importance of good timing in going bust
This NY Times article provides a fine report on the demise of Global Crossing, Ltd., the telecommunications company that went down under suspicious circumstances at the same time as Enron Corp. was cratering. However, unlike Enron, the Justice Department established...
Tyco's general counsel acquitted
Mark Belnick, the former Paul, Weiss, Rifkind, Wharton & Garrison partner who was Tyco's general counsel during the Dennis Kozlowski scandals, was acquitted yesterday of corporate fraud charges that involved an allegedly unapproved $15 million bonus and $14 million in...
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