Thursday, September 12, 2002
Tyco II
From The Associated Press:
BELNICK, MARK - NEW YORK, NY TYCO INTERNATIONAL
Giuliani, Rudolph W (R) - $1,000
Collins, Susan M (R) - $250
Ann Arbor National PAC (100% of Contributions from this PAC went to Republicans) - $1,000
Hatch, Orrin G (R) - $2,500
McCain, John (R) - $1,000
Bradley, Bill (D) - $1,000
McPhillips, Julian L Jr (D) - $250
That's 82% to Repubs.
KOZLOWSKI, DENNIS - EXETER, NH TYCO
Giuliani, Rudolph W (R) - $1,000
That's 100% to Repubs.
SWARTZ, MARK MR - RYE, NH TYCO INTERNATIONAL
Bradley, Bill (D) - $1,000
That's 100% to Democrats.
The totals for these three pillars of the business community? $1,350 to Democrats and $6,750 to Republicans. That's 83% to Republicans.
And for those that didn't read the piece in this space on Tyco from August 6, 2002, here's the corporate donation breakdown for Tyco itself (PAC and "softmoney"):
PAC:
Tyco Electronics
2000 PAC Summary Data
Contributions from this PAC to federal candidates $17,750 - 7% to Democrats, 93% to Republicans
1998 PAC Summary Data
Contributions from this PAC to federal candidates $80,500 - 5% to Democrats, 95% to Republicans
Tyco's PAC has made no contributions in the 2002 election cycle.
Softmoney:
Total given, $611,350
Total given to Republicans: $491,350
Total given to Democrats: $120,000.
- SEC Charges Three Former Tyco Execs
NEW YORK (AP) -- The Securities and Exchange Commission filed a civil complaint against three former Tyco International executives Thursday for failing to disclose tens of millions of dollars in low- or no-interest loans they took from the company.
The action came as New York prosecutors were expected to file criminal charges against the three men, former Tyco International CEO L. Dennis Kozlowski, former chief financial officer Mark H. Swartz, and former general counsel Mark A. Belnick.
The SEC charged that Kozlowski used $242 million from an employee loan program designed to help workers purchase Tyco stock to instead pay for yachts, fine art, jewelry, luxury apartments and vacations. It accused Swartz of misusing $32 million in company funds and Belnick of $14 million.
The three "treated Tyco as their private bank, taking out hundreds of millions of dollars of loans and compensation without ever telling investors,'' said Stephen M. Cutler, the SEC's director of enforcement. "Defendants put their own interests above those of Tyco's shareholders. Those shareholders deserved better than to be betrayed by the management of the company they owned.''
The company's stock has dropped sharply this year because of questions about its accounting and liquidity and the various investigations of the company and Kozlowski.
BELNICK, MARK - NEW YORK, NY TYCO INTERNATIONAL
Giuliani, Rudolph W (R) - $1,000
Collins, Susan M (R) - $250
Ann Arbor National PAC (100% of Contributions from this PAC went to Republicans) - $1,000
Hatch, Orrin G (R) - $2,500
McCain, John (R) - $1,000
Bradley, Bill (D) - $1,000
McPhillips, Julian L Jr (D) - $250
That's 82% to Repubs.
KOZLOWSKI, DENNIS - EXETER, NH TYCO
Giuliani, Rudolph W (R) - $1,000
That's 100% to Repubs.
SWARTZ, MARK MR - RYE, NH TYCO INTERNATIONAL
Bradley, Bill (D) - $1,000
That's 100% to Democrats.
The totals for these three pillars of the business community? $1,350 to Democrats and $6,750 to Republicans. That's 83% to Republicans.
And for those that didn't read the piece in this space on Tyco from August 6, 2002, here's the corporate donation breakdown for Tyco itself (PAC and "softmoney"):
PAC:
Tyco Electronics
2000 PAC Summary Data
Contributions from this PAC to federal candidates $17,750 - 7% to Democrats, 93% to Republicans
1998 PAC Summary Data
Contributions from this PAC to federal candidates $80,500 - 5% to Democrats, 95% to Republicans
Tyco's PAC has made no contributions in the 2002 election cycle.
Softmoney:
Total given, $611,350
Total given to Republicans: $491,350
Total given to Democrats: $120,000.
