From His Prison Cell, Dennis Kozlowski Rips American Business
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In a letter to the FOX Business Network, disgraced former chief executive of Tyco International (NYSE: TYC), Dennis Kozlowski said that he is concerned about the current state of American business amid all the involvement from the U.S. government.
Kozlowski is currently serving eight to 25 years in prison for crimes he conducted during his time as CEO at Tyco, but he believes that the extent of the involvement by the government will make it hard for companies to expand.
"I'm amazed at the decline of our free-enterprise system," Kozlowski wrote. "Failed businesses received bailout money and then bonuses were paid to those who failed – all at taxpayer expense and no one has been prosecuted."
Kozlowski notes that if Tyco were to be getting started today, the company would not be able to thrive as it did following its start up in 1976.
"We would have to assess the cost of a 2,300-page health care bill that we could not decode or price. New regulations as a result of stimulus bills and unknown tax policies would make cost too uncertain. The tens of thousands of decent paying jobs we created, in industries some believed could not be competitive in America, would not happen."
He added that this is the reason for low job creation, as small business managers are the true creator of jobs and they are being set up to fail by the government’s actions.
"Today there are too many unknowns with a government addicted to spending, revenue extraction from business and individuals, and overreach policies."
Kozlowski's sentence is being carried out at Mid-State Correctional Facility in upstate New York, and he will be eligible for parole as early as 2012.
Kozlowski is currently serving eight to 25 years in prison for crimes he conducted during his time as CEO at Tyco, but he believes that the extent of the involvement by the government will make it hard for companies to expand.
"I'm amazed at the decline of our free-enterprise system," Kozlowski wrote. "Failed businesses received bailout money and then bonuses were paid to those who failed – all at taxpayer expense and no one has been prosecuted."
Kozlowski notes that if Tyco were to be getting started today, the company would not be able to thrive as it did following its start up in 1976.
"We would have to assess the cost of a 2,300-page health care bill that we could not decode or price. New regulations as a result of stimulus bills and unknown tax policies would make cost too uncertain. The tens of thousands of decent paying jobs we created, in industries some believed could not be competitive in America, would not happen."
He added that this is the reason for low job creation, as small business managers are the true creator of jobs and they are being set up to fail by the government’s actions.
"Today there are too many unknowns with a government addicted to spending, revenue extraction from business and individuals, and overreach policies."
Kozlowski's sentence is being carried out at Mid-State Correctional Facility in upstate New York, and he will be eligible for parole as early as 2012.
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