's robert levine cabletron

's robert levine cabletron

He arranged to give the U.S. Forest Service 301 acres of land in exchange for a smaller, 119-acre parcel in 2002, local reports show. By early 1985 the company was taking out loans of $850,000, borrowing against inventory and accounts receivable. Sign up for Individual Select membership today. Cabletron found its first success in the 10BASE5 Ethernet market, providing the ST-500, the first Ethernet transceiver that featured diagnostic LEDs, and the LAN-MD, the first commercially viable field-deployable 10BASE5 test set. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Founder and CEO of networking hardware maker Cabletron, S. Robert Levine, will voluntarily step down. Only 3 days left to register for Inman Connect Las Vegas before prices go up! Bob Lepine is the Lead Pastor at Redeemer Community Church in Little Rock, Arkansas which he helped plant in 2008. The emptiness I feel without her with me is without bottom. The company`s registered agent is FL. One had not even started yet. Cabletron Systems was a manufacturer of networking computer equipment throughout the 1980s and 1990s primarily based in Rochester, New Hampshire, in the United States. The owner was trying to make it so that whenever you come around a bend, or wherever you turn, or whenever you peek inside a door, you discover something you wouldnt expect, Scrivens told The Post. It was sold in 1998 to a private company. Analysts said Levine's resignation will mean that Cabletron can now concentrate its efforts on regaining the market share it has lost in recent years. It's fake. And since one or both of his legs always shake with nervous energy, you can't help noticing his giant ostrich-skin boots. Back then, Cabletron was not only the biggest thing in town, it was the biggest employer in the state. A Division of NBCUniversal. times . As a test, Levine told telemarketers to ask customers ordering cable if they were interested in having Cabletron do the job. "I couldn't," he says with a shrug. The complaint was filed in March 2018 for allegations of "unsuitable investment recommendations, excessive trading and misrepresentation from February 2012 until December 2017." As the company sped toward nearly $900,000 in sales in fiscal 1985 -- branching into different types of cables as well as terminators and other supplies, all delivered "at the speed of light" -- Cabletron was slipping beyond Levine's grasp. I got stung. [1] As manufacturing and design operations expanded, Cabletron relocated to Rochester, New Hampshire, employing 6,600 people at its peak. "His valuation was ludicrous, but I didn't mean to soak him," says Levine. "I should have just said, 'You know what? LEVINE--Robert, M.D. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and . For now. "I started off by saying, 'For 20 days and 20 months, I had no first name and I was referred to as 03418049. Rochester, NH 03866 PO Box 6257 Rochester, NH 03868 50 Minuteman Rd Andover, MA 01810 10 Main St Rochester, NH 03839 35 Industrial Way Rochester, NH 03867 ATTN: TAX DEPT. But the thin ranks mean that some employees get pushed to their limits -- or beyond. By the summer of 1983, Levine -- who by that time had sold much more than the original 10,000 feet -- recruited his two younger brothers to pound away on the phones and fill orders in his two-car garage. Cabletron CEO Levine Is Expected to Resign - WSJ Dow Jones, a News Corp company About WSJ News Corp is a global, diversified media and information services company focused on creating and. Just as Mr. Levine has been an unusual chief executive, his contribution might be missed in unusual ways, said Noel Lindsey, an analyst with Deutsche Morgan Grenfell. The ice cream parlor is a fun little room that is themed, with old-fashioned ice cream glasses mounted on the gold mica flaked wallsand ice cream parlor decor. While Vail has some of the highest land prices in the country, Levine's property is as spacious as they came 250 acres of land border a national forest and come with a trout pond, a playground as well as ample trails for hiking in the summer and snowmobiling in the winter. ''We were two guys, with no venture capital, and now we're a $1.5 billion company with 6,600 employees. Cabletron's uniqueness goes beyond moving faster than most companies to fill orders. Robert Levine Bio/Wiki, Net Worth, Married 2018. "Bob doesn't like authority," he notes. When he came back to them with a prototype, Levine and Benson responded appropriately. "I knew he was heading for me, so I'd stand up. By signing up, you will receive newsletters and promotional content and agree to our. At Danbury, most of the women were drug offenders, but Spence taught English and got to know the inmates. The daughter of a lobsterman who later went on to work at the Rochester General Electric plant, Spence was a high school cheerleader pursuing a degree at UNH. Spence herself was sentenced to 27 months in Danbury, though she also served four months in Strafford County Jail in case her testimony was needed again. ''His primary role has been to go all over the world talking to customers, and keeping the sales force accountable. But "my actions, by pushing this paperwork through, allowed the company to make the quarter. Mini Biography. "Maybe he was doing the 'don't ask, don't tell,'" she said, laughing. 2023 Fortune Media IP Limited. Lives in Greenwich, Connecticut with his wife, Mary Tyler Moore. Cabletron Systems, Inc., was a manufacturer of networking computer equipment throughout the 1980s and 1990s primarily based in Rochester, New Hampshire, in the United States. The final chapter in Cabletron Systems Inc. 's (NYSE: CS) rocky history was closed today as the company completed its name change and the . The 25,000-square-foot recreation center called the Lodge includes a five-story rock climbing wall, an elevator, an indoor shooting range, a teppanyaki (similar to Hibachi) dining area, a full kitchen, a massage room, a gym, a spa, an Olympic-sized pool and a hot tub, according to the Casteel Creek website. In February 1983 Levine was a sales rep for a couple of cable companies -- including Montrose Products Co., founded by his grandfather and run by his father -- when one of his accounts, in the person of Craig Benson, told him about a company that needed 1,000 feet of Teflon cable immediately. After two years at McAfee, Ken became CEO of Digital Guardian. [citation needed], Cabletron was founded in 1983 in a Massachusetts garage by Craig Benson (who later became New Hampshire's governor) and Robert Levine. To find takers, he printed up brochures that promised 24- or 48-hour delivery, depending on the customer's needs and the size of the order. Outdoor amenities include a stocked trout pond, a playground, 12 snowmobiles, three all-terrain vehicles, snowplows and a 10-seater Snowcat. In fact, you can pretty comfortably walk around its historic centre. He was known for making threats and being a wild character. Inside salespeople develop and qualify leads, then make appointments for the outside salespeople, who are, notes Levine, "the most expensive people I've got." While only half an hour to Vail Mountain (east) or to the Eagle County Airports (west), the outside world fades away as one enters into the Casteel Creek compound, with a new discovery around every curve, Nobrega and Scrivens told Inman in an email. "That's where the growth is right now.". Characteristically, he couldn't just turn down suitors with a polite "No, thank you." In that wide-ranging interview on the deck overlooking her spacious backyard in Newfields where she lives with her dog and her 91-year-old mother Spence discussed how she went along with a corporate culture of greed, her "time away" at the prison in Danbury, Conn., and telling her whole story to a stunned class of business students at the University of New Hampshire who were expecting a boring lecture by a businesswoman in a suit. Benson alleges Kenahan made similar churning violations, a FINRA public disclosure says. It has even instituted a special program whereby salespeople hand out forms to customers, who are invited to fax in their product suggestions. "We needed more people," says Ayers, 36, "and we weren't getting them." The best transceivers at that time had power-indication lamps enabling customers to tell whether their network problem could be blamed on the system's power source. It's the largest such settlement in at least a decade. C T Corporation System, agent, 4 Sep 2000 - Michael D. Myeraw, secretary, 19 Jan 1990 - S. Robert Levine . He must have felt like he was drinking from a fire hose," she said. Dr. S. Robert Levine, a physician, became Moore's husband in 1983. <br><br>Robert was the loving son of the late Charles and Mary (Reid) LeVine and grew up in Dorchester. But even in making difficult and defining strategic decisions, the pair have consistently kept flexibility and speed as their top priorities. The individual defendants, Craig R. Benson, S. Robert Levine, David J. Kirkpatrick, Christopher J. Oliver, Paul R. Duncan, Donald F. For four years Levine had worked as an independent sales representative for such firms as Hercules Corporation and Insilco Corporation, selling cable, power supplies, and electronic equipment to various companies throughout the northeastern United States and Canada . Thirty percent of outside salespeople don't make it through the first 90 days; another 40% are gone within six months. The Vail Valley home was listed for $78 million with 430 acres in 2019 and is now being re-listed at a lower price with only 250 acres attached. Levine began with $100,000 of his own money. Last spring, Casson approached Levine and Benson about opening a subsidiary in Australia. Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more, While only half an hour to Vail Mountain (east) or to the Eagle County Airports (west), the outside world fades away as one enters into the Casteel Creek compound, with a new discovery around every curve, Nobrega and Scrivens told Inman in an email. Leading commentary by award-winning journalists. "There is going to be another structure, and Bob and Craig know that," says Jim Sims, who also serves as a director of sales. ''I went so far, when I was head of New England Telecom, as to take my team up to Cabletron to get a glimpse of what Bob Levine and Craig Benson were about,'' he said. Levine and Benson identified a couple of good candidates to run foreign operations and, in June, traveled to the United Kingdom. The pair first approached Reed a year-and-a-half ago, but Reed said he didnt want to leave Nynex in the middle of its merger with Bell Atlantic. Mr. Levine and Mr. Benson were furious. In a memorandum to the company's work force on Jan. 10, Mr. Levine said the bank's automatic teller machine at the Cabletron headquarters had been disconnected. In fiscal 1986 installations made up roughly 10% of sales, which totaled about $4 million. Cabletron was truly born to run. Sinai Medical Center. Along with the house itself, Levine created a 28,000-square-foot amenities lodge with a five-story rock climbing wall, an indoor shooting range, a teppanyaki dining area, a gym and massage spa, an Olympic-sized pool and a hot tub. The Cabletron culture But as it turns out, there was nothing frivolous about their partnership. Following on this early success, Cabletron developed one of the first modular Ethernet hubs, the MMAC-8 (and its smaller siblings, the MMAC-5 and the MMAC-3) at the time that 10BASE-T was becoming standardized. Jack Branowski, who is a director of sales, has 17 people reporting to him. We've received your submission. How long can they keep up the pace? When Michael Welts, marketing manager, was hired, in November 1989, he was thrilled but a little scared. You will receive additional instructions via email. Reed said he made the choice to join Cabletron within the last two In a company press release, S. Robert Levine, the president and chief executive officer, said these results represented Cabletron's "thirty-second quarter of consecutive record growth, the strongest and steadiest earnings growth rate among all S & P 500 companies." These impressive numbers did not last. Confronted, Ayers confessed he was just worn out. Benson would later have to tell him he couldn't afford it. Cabletron has needed money steadily because both Levine and. "No matter how big we get, I've got to be able to touch enough people so that the electricity zips down to everyone. year-and-a-half ago and coaxed him into bringing aboard his experience in national and global telecommunications. to leave the company about two years ago. "It's not easy to find good outside salespeople," he adds. He has made several guest appearances on sitcoms, produced films and television, and does voice work. She met her husband Luke Luacaw, the head of security for Levine. When customers called with problems, the only available equipment required shutting down the computer network -- testing customers' patience and often costing them money. By. Workman backdated it. Theyre [the owners] all about creating experiences, and because were in Colorado, that Western theme came through, Scrivens told The Post. Why, Oliver wondered, couldn't we incorporate several light-emitting diodes so that users could do more of their own troubleshooting? Look closely; it's not Levine. Indeed, Cabletron's ultimate flexibility -- to spend money on manufacturing and sales or on new ideas -- flows from its well-preserved margins. participated in the Business Roundtable efforts of the G7 Information native said he didn't believe he could give the amount of effort and While Vail has some of the highest land prices in the country, Levines property is as spacious as they come, boasting 250 acres of land bordering a national forest that includes a trout pond, a playground and trails for hiking in the summer and snowmobiling in the winter. is One of their biggest arguments, in fact, grew out of Levine's decision to let one salesman call himself a vice-president. Cabletron's Chief Executive Plans to Step Down Sept. 1, https://www.nytimes.com/1997/08/07/business/cabletron-s-chief-executive-plans-to-step-down-sept-1.html. ''The timing has to do with Don more than anything,'' he said. As she told that business class at UNH: "You need to trust your judgment, to follow your gut. Subscribe to Inman Select for Breaking News and Exclusive Industry Content. Analysts had expected 50 cents. Moving fast isn't just an internal magic trick; all the small speedy touches -- and the fat margins -- combine to create an entire company that responds quickly to external shifts. would not have accepted an offer from anyone else except Cabletron. Orders grew larger and larger: one company signed up for $225,000 worth of cable. The early products were critical in the history of Ethernet as 10BASE5 Ethernet was generally difficult to operate and maintain and cabling problems were especially difficult to diagnose. He runs into his office and, sidestepping some dumbbells, grabs a shirt that is hanging from the ceiling. "I don't know who that guy is," he admits. As generous as they are about firing, Levine and Benson are stingy about adding people -- "I don't even ask anymore," says Casson. In all 126,000 square feet of Cabletron's headquarters, now in Rochester, N.H., there is not even one meeting room. To subscribe to exclusive newsletters, visit your email preferences in the account settings. With Cabletron stock trading at about $25 last fall, Levine and Benson's combined ownership was worth about $440 million. Nynex executive will replace Cabletron founder Robert Levine. Spence's second chance started in June 2009. Analysts said Mr. Levine's departure was not entirely unexpected, in part because of Cabletron's disappointing performance recently and because his unconventional management style was less suited to a nearly $1.5 billion company than to a start-up. Mr. Benson remains with the company as chairman. People also asked "We can ship a large order and rebuild stock very quickly," notes Kenneth Levine. Cabletron Systems Inc., a computer networking company, said yesterday that S. Robert Levine, its president, chief executive and co-founder, would resign effective Sept. 1. Cabletron co-founder Robert Levine's Colorado mega-mansion has hit the market for $42 million, complete with an ice cream parlor, two shooting ranges and a Western town with a sheriff's. The pressure will be on Mr. Reed to put Cabletron back on the growth curve. Levine, co-founder of Cabletron, is a pioneer computer-networking magnate noted by Forbes magazine. ", Despite Spence's misgivings about the morality of the three-corners deals, she said didn't think they were illegal because "the finance people were all over it. Cabletron was founded by S. Robert Levine and Craig Benson. In charge of this transition were Patel, Kirkpatrick and Jaeger, who came from Ropes & Gray, Cabletron's law firm. Yes, I also want to receive the CNET Insider newsletter, keeping me up to date with all things CNET. Aside from that, Levine has mostly stayed out of the public eye since his time as a big-shot tech entrepreneur apparently, hes been well-entertained. S. Robert Levine looks every inch the executive you'd expect to find running a fast-growing $105-million maker of computer products -- right from the top of his head down to the tips of his shoulders. The company moved to Rochester, New Hampshire in 1985 and went public . I can always stay a few minutes later. ''For a year or more, they've been revamping sales and marketing, and as they got more professional management, I think these guys bridled more at Bob Levine's style,'' said Paul Johnson, an analyst with Robertson, Stephens. Registered Address. Some, like a special wall plate that allows customers to plug phone wire in one end and coaxial cable in the other, have gone from consumer suggestion to prototype in just six weeks. They'd just slow things down. Cabletron was founded by S. Robert Levine and Craig Benson. We believe we have found the perfect fit, Levine said. Mr. Levine, 39, a flamboyant executive known for such antics as driving a surplus Army tank, started Cabletron in his garage in 1983 with Craig Benson. Cabletron, and then Enterasys, would "lend" money to small companies that used it to buy Cabletron or Enterasys equipment through a third-party distributor. Charles Kenahan Lawsuit - The advisor involved is Charles Kenahan, according to FINRA's BrokerCheck. Is this management by fear? 1. His toughness arises from a need to prove something. Cabletron reported fourth-quarter earnings of $60.3 million, or 39 cents a share, for the quarter ending February 28; that compares with a net loss of $7.5 million, or 5 cents a share, a year ago. Cabletron still moves as fast and as flexibly as a $25-million upstart. It would be wrong to present Bob Levine's need for speed as simply a strategic imperative. The Post attempted to reach Robert Levine, 63, for comment. Or, swept away by its continued growth, it may lose its edge. Kenahan has two pending arbitration claims listed on his BrokerCheck report, including one that has more than $42 million in alleged damages listed. The two devices, which cost roughly $200,000 to produce, represented Cabletron's first foray into manufacturing. He was previously married to Mary Tyler Moore. "Cabletronians," as employees call themselves, value speed, decisiveness, and responsiveness. Meanwhile you can send your letters to ATTN: TAX DEPT., P.O. But while she was at college, her dad died unexpectedly, and she got in a serious car accident. They received the spreadsheets that were maintained. Which is, to be sure, a remarkable achievement. More important, perhaps, is how Cabletron followed that initial opportunity to its next leap: network-testing devices. Soon, he also invested about $1,000 a month in getting lists of potential customers, including subscribers to computer magazines. Spence said she was referring to so-called "three-corner deals," some of which a federal jury later concluded violated securities law. continue to expand into the global market. Robert Levine, the founder the 1990s computer networking firm Cabletron . Want CNET to notify you of price drops and the latest stories? The case involved allegations of churning against former Merrill broker Charles Kenahan. "The thing that has made us different," he says, rising to his feet, "is that we are absolutely fearless.". [His] eccentric management style has contrasted sharply with the usually conventional world of computer-networking equipment, the Wall Street Journal said upon the announcement he would retire. Your subscription will automatically renew for on . "They made a mistake and wanted to go back home and get a second chance.". At sales meetings, reports Kenneth Levine, it's standard to conduct private polls on who will go next. " Welts doesn't worry as much anymore. He The amenities lodge is attached to an indoor sports field primarily used for baseball, said the listing agents. "We don't research the hell out of something before we do it," Levine says. So yes, I am guilty for that. The 50,000-square-foot mega-mansion, which Levine built after retiring from tech in 1997, was built in fitting with the tech giant's unique tastes. Levine has no plans to start another company. While competitors' lead times stretch to eight weeks or longer on an established product, Cabletron fills orders within 30 days. Perhaps the most stunning and understated amenity is a 200-foot steel viewing bridge over the forest. Links: www.cbsnews.com 2,157 views 1.0 ( 1 votes) Categories Buildings > Residential Comments Policies Wiki Bio of Robert Levine net worth is updated in 2023. Murdoch's News Corp (at number four) is the only gentile holdout however Rupert is as pro-Israel as any Jew, probably more so." Los Angeles Jewish Times, 'Yes, Virginia, Jews Do Control the Media', Oct. 29-Nov. 11, 1999, p. 14. Bob Levine and Craig Benson built Cabletron Systems Inc. into a $100-million upstart by staying light on their feet. Cabletron with expert knowledge in key markets," said Benson. weeks. A 200-foot steel bridge leads out of the property and into the forest overlooking the forest and Rocky Mountains Sawatch mountain range. Benson had his doubts. I was a prisoner in a federal women's camp. Cabletron was founded by S. Robert Levine and Craig Benson. Similarly, Cabletron controls the sales process by fielding a direct-sales force, instead of working through value-added resellers, the industry norm. Do Not Sell or Share My Personal Information. "People kept talking about how much money people were going to make when this all happened. She's also going for a business management degree through the University of Phoenix in Burlington, Mass., but she plans to switch to online classes, so she can spend more time taking care of her 91-year-old mother. In 1996 the company eclipsed US$1 billion in sales. Now, a year out of federal prison, Spence maintains that the wrong people went to jail. The normal lead time would have been about six months. Though hardly sentimental, Levine has held tight to the principle that rewarded Cabletron with such staggering growth: keep your promises, and customers will take care of the rest. About Levine family. ''Really, he hadn't functioned in the traditional role of a C.E.O. Unconventional style may have got us where we are; conventional thinking would have never started the company. Get the week's leading headlines delivered straight to your inbox. Top headlines from around the real estate industry. Profile of this year's Entrepreneur of the Year winners. Benson urged him to ease up. Cabletron has been known for its modular . BOX 5005, ROCHESTER, NH, 03867. Push.'". Cabletron's turnover is already worrisome. They were not at liberty to discuss the sellers further. Levine was the companys chief salesman, and his hard-driving management style has defined Cabletron. A connection is made when two people are officers, directors, or otherwise . Co-founders S. Robert Levine and Craig Benson were the bad boys of the 1990s networking industry. ''Bob is a flamboyant, energetic motivator, and as such, he has motivated people much like a football coach,'' he said. Mr. Benson said in a telephone interview that he and Mr. Levine had begun an executive search a year ago, and had asked Mr. Reed to join the company at that time, only to be turned down. Karl was contacted before Thanksgiving, but Spence talked to NHBR at the end of September in her backyard, agreeing to tell her story if she had a chance to review her transcript, which she did, with minor edits, in November. Reed was named president and group executive of Nynex in January 1995. "There's a feel to this place," he says, furiously buttoning it. He now heads up the office in Washington, D.C. To avoid draining resources, Levine and Benson moved into the manufacturing of electronics gingerly, investing just $50,000 at first in a special mold and farming out the assembly and testing. Levine must confront a sensitive and pivotal dilemma: how can Cabletron stay speedy while it grows huge? The lean company could, quite literally, work itself to death. Data is a real-time snapshot *Data is delayed at least 15 minutes. "My husband just died," she told the agent. "very open and very customer-focused. In 1993, Spence went to Levine's office, expecting to make travel arrangements when she was told she was there for a job interview. Levine and his brother Kenneth, then 20, went out and personally sealed some of the bigger deals, sitting down and negotiating the finer points as they chomped on chewing tobacco. Mr. Levine said he had not determined what he would do beyond smoothing the executive transition at Cabletron. "Is this the right thing to do?" That's not so easy, given that Cabletron -- like Levine -- can't sit still. Levine and Craig Benson, who is Cabletrons chairman, started the company in Levines garage in 1983 after realizing the potential need for custom cables to link personal computers.

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