Word: kozlowskiã
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...upon a happier economic time for instruction: prosperous, distant 2005. In that year, two executives of the multi-national manufacturing firm Tyco received prison sentences for stealing hundreds of millions of dollars from the company for various personal purposes—most infamously, former chief executive officer L. Dennis Kozlowski??s $6,000 shower curtain. These sentences—ranging from 8 1/3 to 25 years of incarceration—were considered forceful messages to other executives tempted to skim off their company’s bottom line. Yet Kozlowski and CFO Mark H. Swartz could be granted...
...There is one primary difference between the current crop of crooked executives and those of Kozlowski??s “generation.” The earlier set, today imprisoned, stole money out of largely stable companies for their own personal use. Today’s top guns learned from their example, and siphoned their massive cuts, through bonuses and other forms of compensation, out of firms that turned out to be poorly-managed, colossal houses of cards, ready to collapse at any moment. Doesn’t the latter class of actions beg for convictions and new sentences...
...surprising, then, that this intersection of reality and unreality centers on money, arguably the core value of American society today: How else can anyone explain former Tyco CEO Dennis Kozlowski??s $6,000 shower curtain? Second Life suggests that this warped valuation controls not only our real world, but also our fantasy world—a very troubling thought...
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