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All lost and it's as ST I spoke with and below you know what what little -- a year ago where an imprisoned.
And that whole surging -- trip came -- you know what the fountains and all that yes and it it was a fortieth birthday party for his wife of and even there and then he said.
There was no issue this is from Dennis is -- -- back to.
-- -- the beneficiary of that same answer incidents.
Two million dollar party.
It was but whenever wanna watch the video over the job even in the video you see very uncomfortable.
But that it was sort of like The Great Gatsby moment of the decade right.
Do you regret.
It apart and -- that -- videotape.
Well I certainly regret -- Somebody videotaped it and it was.
Shown to be something that it really wasn't it was convenient to have a party in thirteen years.
Things were going well and we're gonna have a party there.
I -- and that that.
Let's to include some type of employees.
Who -- working extremely hard on -- centered type of plays to their spouses.
To come to the party.
For the party -- to charge me everything that was first thing my charges -- those instructions were for the finance people at -- And to others that charge we know what whatever it's my personal expenses from those 45 days.
Have parties and they did know that's that's what happened.
So that was then you're saying the same kind of thing was going on.
Now it's no different -- -- get a.
Well that that event.
That I described in Bahamas there was no and the company paid the whole thing there was no instruction to say if there was any personal expense to charge.
Back for them or anything of that nature it was paid entirely by their by the company.
It was not part of any approve compensation plan that the board would divide done it was just a they expected to put it through as a business expense and not to have to -- a -- employees and in in effect pay their -- Well they don't say then -- case to be there and we wanted to get someone on the show from the company or we got was this statement -- but I want you.
See here this is something we've got -- from -- this case was first filed by -- -- ways with that.
Department of Labor conducted a full investigation of the blame on July 6 secretary of labor issued findings is missing the good morning.
Stadium as there always was not constructively discharged but -- -- products and there -- no.
Count of violation by the company.
Under the sarbanes Oxley act.
The case now filed in federal court isn't a deal of this department labor rolling.
Tyco believes that mr.
-- claims and any -- -- -- activity.
Or accounting are totally unfounded completely without merit and intends to vigorously defend itself.
-- -- -- Yes well the they're correct the sarbanes Oxley act requires a whistle blower complaint to go through the initially through the Department of Labor process.
Which is not a judicial process there was no.
-- -- discovery there is no ability to subpoena witness during that process.
And the the complaint was filed in November of 09 we.
Did they are required to act on it within a hundred -- yeah.
Did I in the -- weeds here and I would certainly number well guys in the bedroom we did rock say OK I just wanna get a little -- -- you figure out the time but Jeff I want to ask you this.
The old Psycho.
The new Tyco.
The new -- very different -- part were part of the unit that was part of a company that was broken up.
-- is it.
Still very similar to the old original big mother -- Tyco.
Does the same sort of stuff I want.
I don't believe that that is the case.
So hey I already -- -- -- worst case there were this is an anomaly.
Know their word they're worm there were other extravagant expenditures.
-- well we kind of kind of -- hundred -- extravagant expenditures.
Well within from the time that the new management took over I read rejected does certainly.
Events including one at the Venetian resort -- in Las Vegas.
Why why why did you pretend I didn't you know I know a lot of company events.
And they might be very expensive but there are very expensive -- tells winding -- why.
Well not all events that the -- Bahamas event for example I mean -- kinds of expenses though that we're talking about four.
Mermaid readers and costumed pirates in wages stingray feedings.
-- limbo and fire dancers tattoo artists.
-- -- can't help at all to our SI don't know why you may get a big deal about the -- breeders but it's just me but kids.
Well those are the kinds of expenses that I just believe -- inappropriate and do mirror some of the things that were called on the carpet.
During the Kozlowski years.
And I believe are enough for inappropriate.
For -- company to be attempting to spend on I don't believe those would be considered legitimate business expenses.
By the IRS or by the SEC.
All right Jeff I'd I'd love that -- -- like to keep following this story we will that I promised.
As well as stemming the Tyco Electronics executives anyone of Tyco sides -- you wanna come on you're more than welcome to c'mon.
But in the meantime Jeff thank you very much for joining us.
Thank you deal.
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