Martha's circus overshadows weightier case - trial of tyco's kozlowski

[cthrumatrix]

Martha's circus overshadows weightier case
Bigger issues in trial of tyco's kozlowski

Steve Maich
Financial Post


Wednesday, January 07, 2004


The trial of Martha Stewart began yesterday with the usual buzz of attention that has followed every twitch in North America's most glamorous corporate fraud case.

Every time Stewart glides into the Manhattan federal courthouse, the gallery is packed to overflowing with hundreds of reporters and various other gawkers, all evaluating the subtle touches in the defendant's splendid outfits.

But if your interest is in the capital markets and not celebrity, and if you're more concerned with the issue of corporate fraud than the future of home decor, then the trial you should be watching is not Martha's.

No, the most important fraud case now before the courts is taking place in a small room in New York State Supreme Court, attracting about 10 observers to the public gallery each day. It's the trial of Dennis Kozlowski, the former chief executive of Tyco.

snip

http://www.canada.com/national/nationalpost/financialpost/story.html?id=2f94c51e-ba82-4fdd-b482-464c72e3727e

Guess which one is Bush's friend.....ding ding...the one that is NOT covered in the US media.

[cthrumatrix]

1. Liberal media "choosing" what you should know

In the media, these things make a big difference, so it's no surprise that last year the National Post ran 186 stories mentioning Martha Stewart, compared with just 59 on Dennis Kozlowski.

But attention and buzz are often poor indicators of significance. The stakes in the Kozlowski case are infinitely higher. In fact, the outcome of this one trial may just set the stage for dozens of other corporate corruption cases waiting in the wings.

In 1999, Kozlowski was presiding over one of the biggest conglomerates in the world, with US$20-billion in annual revenue and a market value above US$100-billion, when Barron's named him one of the best CEOs in the U.S.

http://www.canada.com/national/nationalpost/financialpost/story.html?id=2f94c51e-ba82-4fdd-b482-464c72e3727e

[cthrumatrix]

2. and he may even "walk"....

And yet, despite the avarice displayed in the case, there's a strong chance Kozlowski will walk. If that occurs, the repercussions for Wall Street's parade of corporate defendants will be enormous.

It only takes one dissenter, one person jaded enough to think there's nothing unusual about corporate greed, or one person who just doesn't get it, to throw an entire prosecution off the rails.

http://www.canada.com/national/nationalpost/financialpost/story.html?id=2f94c51e-ba82-4fdd-b482-464c72e3727e

[Piperay]

3. Yeah, he'll walk

and Martha is the one who will end up behind bars, what a World. :argh: :mad: :grr: :-(