It appears that Dennis Kozlowski, the former head of Tyco and infamous for being one of the executives associated with looting their companies while shareholders suffered, is the recipient of another blow. What’s so special about this one? His wife, Karen Kozlowski, has filed for divorce. Nothing odd there, you figure – with him likely headed for some prison time, that’s probably not even noteworthy. Normally, you’d be right.
But if you’ll wander with me down memory lane, you may recall that Ms. Kozlowski is one of the highlights of the looting spree, for it was her birthday party that made all the news. It was by no means the largest bill – the couple purchased a 15,000 square foot Boca Raton mansion in Boca Raton with an interest-free loan from Tyco that easily outstrips it.
But her $2 million birthday bash was easily the most visible sign that something was seriously wrong. The party, which included toga-clad women and Roman centurions, was simply a bit over-the-top. Now I’m one for a good party, but having the company (and, by extension, the shareholders) pay for it all is the problem here.
So by now you’re probably wondering about the title of this entry, so I ought to get to the point. I’m just wondering why, if her birthday gala is the most visible sign of excess, Ms. Kozlowski chose the moment when her husband is facing prison time to bail? That just seems rude. Lest you think I am incosiderate, she didn’t waste any time in making sure she laid claim to her share of the aforementioned Boca Raton digs, either. It just makes you wonder, no?