Corporate Excess?

Dennis Kozlowski, former Tycho executive now courtroom resident - and hopefully future jailhouse resident - has an image problem. Not that his looting of about $600 million from his former employer wasn't enough.

Videos released from his trial yesterday have made their way around the world via the internet; and you really should go find a copy and watch it. These are videos from a birthday party Mr. Kozlowski threw for his wife on the island of Sardinia. Now, I can understand having the cash to throw a nice party for your wife or significant other in a nice location. Really, I can. I'd love to be able to take my wife to Fiji for a birthday or anniversary.

Bit, if you've wondered what it is that differentiates the high and mighty of corporate fiefdoms from you and I, this video should clear things up. Oh, the cost of this little week-long soiree, attended by about 200 of the Kozlowski's closest friends and co-workers? $2 million.

From the Wall Street Journal(subscription required):

In a club in Sardinia lushly decorated in an ancient Roman theme, flaming urns erupted against the backdrop of a stage built in the shape of a temple. Women in scanty garb threw flower petals into a pool. A well-oiled, half-naked male model gyrated on a pedestal. Mr. Kozlowski was shown at the entrance hugging two young women dressed in Roman costumes, flanked by helmeted centurions in battle garb.

The first word that comes to mind for me is "shameless." But that doesn't seem to convey the indignation and revulsion I really feel.

The looting of Tycho resulted in the loss of hundreds of jobs. Those who lost their jobs probably can't even afford to throw their kids a small birthday party in the back yard.

Of course the Wall Street Journal was appropriately solemn about this show of excess; they interviewed high-flying party planners who hoped the release of this video would be good for their business.