Abstract
The Tyco story is not, strictly speaking, one of a company that failed. It is the tale of an ambitious and greedy man: a man who, blinded by previous success and spurred by the prospects of fabulous wealth, went on a $60 billion acquisition spree; a man who took his company into new, and risky, markets; a man who, quite blatantly, looted his company of millions of dollars.
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Notes
1 Dominic Rushe, ‘The wages of Sin’, Sunday Times (11 August 2002).
2 Anthony Bianco, William Symonds, Nanette Byrnes and David Polek, ‘The Rise and Fall of Dennis Kozlowski’, Business Week Online (23 December 2002).
3 Robert Monks quoted in Anthony Bianco et al., ‘The Rise and Fall of Dennis Kozlowski’, BusinessWeek Online (23 December 2002).
4 William C. Symonds and Pamela L. Moore, ‘The Most Aggressive CEO’, BusinessWeek Online (28 May 2001).
5 Tyco’s Form 8-K filed with the SEC on 10 September 2002.
6 Jerry Guidera and Marc Champion, ‘Tyco Probe Ends Brief Period of Calm for Michael Ashcroft’, Wall Street Journal Europe (13 June 2002).
7 Joann Lublin, ‘Executive Pay (A Special Report)’, Wall Street Journal (10 April 1997).
8 Tyco’s annual proxy statements filed with the SEC.
9 SEC Administrative Proceeding against Richard Scalzo (13 August 2003).
10 William C. Symonds and Pamela L. Moore, ‘The Most Aggressive CEO’, BusinessWeek Online (28 May 2001).
11 Mark Maremont, ‘Probe of Tyco’s Accounting Hits Its Stock’, Wall Street Journal (10 December 1999).
12 William C. Symonds and Pamela L. Moore, ‘The Most Aggressive CEO’, Business Week Online (28 May 2001).
13 William C. Symonds and Pamela L. Moore, ‘The Most Aggressive CEO’, Business Week Online (28 May 2001).
14 William C. Symonds and Pamela L. Moore, ‘The Most Aggressive CEO’, Business Week Online (28 May 2001).
15 William C. Symonds, Heather Timmons and Diane Brady, ‘Behind Tyco’s Accounting Alchemy’, Business Week Online (25 February 2002).
16 Tyco’s Form 8-K filed with the SEC on 10 September 2002.
17 Robert Barker, ‘Did Tyco Deep-Six Tycom Investors?’ Business Week Online (5 November 2001).
18 Tyco Form 8-K filed on 10 September 2002.
19 SEC press release (6 August 2002).
20 Andrew Hill, ‘Regulator Raps Tyco Board’, Financial Times (24 October 2002).
21 Linda Rawls, ‘Ex-Tyco CEO’s Generous Giving Was Trademark’, Palm Beach Post (14 July 2002).
22 Tyco’s proxy statement filed with the SEC on 28 January 2002.
23 Tyco’s Form 8-K filed with the SEC on 30 December 2002.
24 Thomson Financial Securities Data Company.
25 William C. Symonds and Pamela L. Moore, ‘The Most Aggressive CEO’, Business Week Online (28 May 2001).
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© 2006 Stewart Hamilton and Alicia Micklethwait
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Hamilton, S., Micklethwait, A. (2006). Tyco: Greed, Hubris and the $6000 Shower Curtain. In: Greed And Corporate Failure. Palgrave Macmillan, London. https://doi.org/10.1007/978-0-230-50275-8_5
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DOI: https://doi.org/10.1007/978-0-230-50275-8_5
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