Spence sent Workman an e-mail to take out the problematic terms and date the papers to "coincide with the [purchase] order," in order to count it as revenue. Cabletron Systems was a manufacturer of networking computer equipment throughout the 1980s and 1990s primarily based in Rochester, New Hampshire, in the United States. of the Global Information Infrastructure Commission and is its policy task force cochair. Top headlines from around the real estate industry. And the department doesn't close: 3 employees wear beepers. Nor, for that matter, is Levine much of a marketer. It used to be that Levine could make the rounds of all the salespeople in a month. What began as a part-time venture in a garage evolved into a billion dollar company by 1996. Now he's lucky to visit them all in a year. He has made several guest appearances on sitcoms, produced films and television, and does voice work. "With the rapid convergence of voice, video, and data, Don's extensive 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. 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. Is this management by fear? But some of his motivational techniques for his sales force _ such as singing bawdy songs and dressing up in a leather motorcycle outfit _ have come under fire from customers. All rights reserved. CABLETRON SYSTEMS, INC. has been set up 8/15/1989 in state DE. 250 likes. "I just wanted to get rid of the stuff," he says, "but people really appreciated the fast delivery.". The Cabletron culture Colorado mega-mansion built by tech entrepreneur has its own Old West-style town with a saloon and sheriff's jail . The company has 3 contacts on record. Co-founders S. Robert Levine and Craig Benson were the bad boys of the 1990s networking industry. "I started off by saying, 'For 20 days and 20 months, I had no first name and I was referred to as 03418049. 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. Even in the fiscal year that ended February 28, 1984, when Cabletron amassed more than $120,000 in sales, Levine had begun seeking his fortune in real estate, inspired by a careful reading of the Forbes 400. Atlantic--expected within days, pending FCC approval--and said he "I had heard about the people who had preceded me," he says. Levine began with $100,000 of his own money. "There are very few people who can take a company from zero to a Robert Levine Bio/Wiki, Net Worth, Married 2018. Forbes 400 member S. Robert Levine has stayed decidedly unbusy since retiring in 1997, at the ripe old age of 39. ", However, in a larger sense, she said, "I knew what I did, and it was wrong. The emptiness I feel without her with me is without bottom. I'm sure it's a big deal to the people at Cabletron.''. "Sicily," the final episode of the hit food travel show, Stanley Tucci: Searching for Italy, will air on CNN at . "There is going to be another structure, and Bob and Craig know that," says Jim Sims, who also serves as a director of sales. Spence, then Cabletron's director of worldwide sales, said she shook her head thinking, "Oh my God." "Bob doesn't like authority," he notes. Benson once spied an 18-person meeting going on. ``Frankly, we wouldnt just turn Cabletron over to just anybody. That was why a shortened quarter (because Enterasys was changing its fiscal year) of one month in September was so crucial. On one wall hangs a picture of President George Bush with -- if you trust the caption underneath -- Levine. Bank of America Merrill Lynch has paid a hefty $40 million to settle "churning" allegations involving a former broker, according to filings and sources familiar with the case. Levine had seen that happen many times. Instead, cable now constitutes less than 7% of sales. Dr. When 39-year-old Cabletron co-founder Robert Levine retired in 1997, newspapers called him eccentric he did, after all, wear ostrich-skin boots and chase off a pizza delivery boy in his armored tank, as he told it but he was just getting started. By developing high-density 10BASE-T modules (24 or 48 ports per slot), Cabletron was able to reduce the price per port of these hubs to a very affordable level, and by introducing a custom Element Management System known as Prism, made the MMAC-8 easy to maintain. Earlier in the session, it was up as much as $1.875 a share. ''What started this was Bob and I realized that we needed to do some things differently, and he realized he wanted to do some things outside of work,'' Mr. Benson said. 30 Jul Merrill Lynch pays $40 million to Cabletron co-founder after When he came back to them with a prototype, Levine and Benson responded appropriately. Woe to any who break the Cabletron Commandments: always fill up a rental car; don't make long-distance calls through hotel operators; never tip more than 15%; and observe strict ceilings on hotel and meal spending. BOX 5005, ROCHESTER, NH, 03867. That is, until the activist investors started swarming. The contacts are Craig R Benson, Michael D Myerow, and S Robert Levine. multibillion-dollar level," said Craig Johnson, principal analyst for market watcher Nynex and was going to bring to Bell Atlantic.". 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. The . Levine amassed a fortune Forbes estimates at $625 million at. "Is this the right thing to do?" By early 1985 the company was taking out loans of $850,000, borrowing against inventory and accounts receivable. "I think I am an asset to any company who has the desire to go public or who is currently publicly traded. 2023 CNBC LLC. Benson explored the opportunity incognito, even printing up separate business cards. Levine travels at least 30% of the time; Benson stays mostly at headquarters. Cabletron Systems, Inc. | 1997 Fortune 500 | Fortune The Allied Campaign in Italy, 1943-45: A Timeline, Part One . He must have felt like he was drinking from a fire hose," she said. It feels like you are all on your own in the middle of the forest. But there are signs that Levine and Benson's sometimes harsh style of management and Cabletron's self-image as a bit of a ruffian may not serve the company well as it struggles to stay ahead of the pack. and WAN switches, remote access products, and advanced network and Actor Robert Hays is doing a variety of things these days. The complaint was filed in March 2018 for allegations of "unsuitable investment recommendations, excessive trading and misrepresentation from February 2012 until December 2017." Cabletron Systems, Inc. -- Company History As generous as they are about firing, Levine and Benson are stingy about adding people -- "I don't even ask anymore," says Casson. 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. Profile of this year's Entrepreneur of the Year winners. Now step over the piles of trade magazines and the barbells -- oh, and push aside the dry cleaning -- and you can get a splendid view of the plaque Levine received, citing his skill in designing silicon wafers. A local's guide to Palermo, Sicily: 10 top tips - The Guardian As a test, Levine told telemarketers to ask customers ordering cable if they were interested in having Cabletron do the job. Levine has also been expanding what he refers to as a management SWAT team. Cabletron's turnover is already worrisome. The new owner will be able to reap the benefits of the current owner acquiring the land and approvals as well as constructing the improvements and will be able to hit the ground running with a turnkey estate that is all about living life and creating memories, Nobrega and Scrivens said. The advisor involved is Charles Kenahan, according to FINRA's BrokerCheck. Cabletrons earnings fell below expectations in the first quarter ended May 31 and revenue was up a disappointing 12 percent. The Post attempted to reach Robert Levine, 63, for comment. "All I could think of was the thousands of people that lost their lives, our customer base that was so incredibly impacted, the state of the country and all they were worried about how we were going to look to Wall Street," said Spence. It would be easy to pass off Levine and Benson's rejection of such big-company practices as superficial -- and, at times, absurd. 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. Right before his retirement in 1997, Levine bought the land the current estate sits on for $3.32 million and spent the next four years building it out to be so amenity-rich as to almost resemble an amusement park. After two years at McAfee, Ken became CEO of Digital Guardian. Sign up for free newsletters and get more CNBC delivered to your inbox. Connect with the definitive source for global and local news. On Dec. 4, 2021, Dr. Robert Levine passed peacefully at the age of 84 with his family at his bedside in Stuart, Fla. Dr. Levine grew up on . Founder and CEO of networking hardware maker Cabletron, S. Robert Levine, will voluntarily step down. With summers that last from April to October and mild winters, Palermo is a year-round destination. It was a way to invest in companies and give them a leg up. is That makes seven offices that Casson has opened abroad. Levine Robert - Previous President for Cabletron Systems, Inc. LEVINE--Robert, M.D. Cabletron has needed money steadily because both Levine and. ", But, soon it appeared that "it was like we were force-feeding people. "His valuation was ludicrous, but I didn't mean to soak him," says Levine. Jack Branowski, who is a director of sales, has 17 people reporting to him. Ken was CEO of then start-up NitroSecurity, a SIEM platform, before a successful acquisition by McAfee in 2011. The CABLETRON SYSTEMS, INC. principal address is 35 INDUSTRIAL WAY, P.O. The normal lead time would have been about six months. Cabletron has needed money steadily because both Levine and Benson believed they could stay their lean-and-mean course only by controlling as many facets of the business as possible. Born to Run | Inc.com Bob Lepine is the Lead Pastor at Redeemer Community Church in Little Rock, Arkansas which he helped plant in 2008. Meanwhile you can send your letters to ATTN: TAX DEPT., P.O. It was wild and wooly. 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. 2023 Fortune Media IP Limited. in some time,'' he said. Kenahan and Levine could not immediately be located for comment. 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 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. Founder and CEO of networking hardware maker Cabletron, S. Robert Levine, will voluntarily step down. More important, perhaps, is how Cabletron followed that initial opportunity to its next leap: network-testing devices. Then the carefully slicked-down hair and the gleaming wire-rimmed glasses give way to something slightly more, well, menacing. He was known for making threats and being a wild character. networking hardware company will be September 1, according to company executives. But with an almost knee-jerk machismo -- remember, their leader not only pilots a Harley-Davidson but also indulges in another dangerous pastime, to be detailed later, that recently left him with a dizzying concussion and a lost tooth -- employees disdain any signs that the company is growing soft. Recently, Levine and Benson hired a couple of high-powered executives: one to serve as chief financial officer, the other as director of manufacturing. The split was designed to increase shareholder value, and many of the shareholders were company executives. The longest any of them had lasted was six weeks. Limited Time Offer: Get 1 year of Inman Select for $199, If you created your account with Google or Facebook, Leonardo DiCaprio buys $7.1M house for his mom, Channing Tatum, Jenna Dewan list Beverly Hills home for $6M, Robert Redford lists 'Horse Whisperer' ranch for $4.9M, Johnny Depp's rustic-chic home might not be rustic-chic at all, The market where rents rise faster than even New York, Highlights from Sotheby's biggest brand networking event ever, Just in time for 90th birthday, Carol Burnett's LA condo sells for $3.7M, Diversifying luxe marketing can increase income by $10s of $1,000s, The real estate agents guide to marketing with Instagram, New-home sales soar to 1-year high in March as purchases leap 9.6%. The Zestimate for this Single Family is $40,727,500, which has decreased by $76,600 in the last 30 days.The Rent Zestimate for this Single Family is $141,456/mo, which has increased by $82,988/mo . "We'll find a way to do this.". Nynex executive will replace Cabletron founder Robert Levine. You will be charged . We had to feel instinctively from the heart that this was the right individual both from a capability standpoint as well as a cultural standpoint. Please update your billing information to reactivate your membership. Six months later they had developed two products: one tested the cable, the other tested other network equipment. 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 Registered Agent on file for this company is C T Corporation System and is located at 118 North Congress Street, Jackson, MS 39205. Which is, to be sure, a remarkable achievement. Fine, Levine would say. "By the time he realized there was something wrong, he had already signed his name too many darn times That guy came in the door and had weeks before we went public. It was like nothing could go wrong for so long, and then all of a sudden we hit that bump.". Craig Benson & CEO Robert Levine of Cabletron Systems, NH. A connection is made when two people are officers, directors, or otherwise . "People kept talking about how much money people were going to make when this all happened. Within five years he had lost a whopping $3 million -- getting out of personal bankruptcy only by selling some of his Cabletron stock as part of the IPO in 1989. In this case, Merrill Lynch decided to settle after the final hearing. That's no surprise since Palermo is the largest city in Sicily and one of the largest in Italy. Anyone can read what you share. He'd say, 'Welts, we have to talk.' Cabletron, and then Enterasys, would "lend" money to small companies that used it to buy Cabletron or Enterasys equipment through a third-party distributor. Barbara Scrivens and Malia Nobrega of LIV Sothebys International Realty are the listing agents for the estate. It looks like youre already a Select Member! This area is patterned after, and is just a play on the old wild west and is much more fun than a big garage apartment and gas station.. 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. Cabletron and Enterasys would then report those as sales, increasing company revenue. Benson and S. Robert Levine founded Cabletron in 1983 and moved it to New Hampshire in 1985. The 50,000-square-foot mega mansion, which Levine built after retiring from tech in 1997, was designed with the tech moguls unique style in mind, according to the New York Post. "I want control over the people who sell my product," Levine says. CABLETRON SYSTEMS, INC. :: Rhode Island (US) :: OpenCorporates "People said, 'This is exactly what we need," recalls Oliver. However, the Nynex-Bell Atlantic deal is expected to be completed this week, and he decided two weeks ago it was a good time for him to move on, he said. Ken Levine | Chief Executive Officer of Comodo Cybersecurity Stuart Robert Levine (born 1958) is listed at 25 Casteel Creek Rd Edwards, Co 81632 and is affiliated with the Colorado Republican Party. 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. When Michael Welts, marketing manager, was hired, in November 1989, he was thrilled but a little scared. "I'm not mechanically inclined," he says. Three-corner deals became a big deal up to and during the launch of Enterasys. Known Addresses for Cabletron Systems, Inc. Attn: Tax Dept. To subscribe to exclusive newsletters, visit your email preferences in the account settings. "It keeps me moving," he says. Similarly, Benson had emerged from his previous job with an almost pathological hatred of vice-presidents. Right before his retirement in 1997, Levine bought the land the estate sits on for $3.32 million and spent the next four years building it out with amenities. '', See the article in its original context from. She never finished school and went to work, ending up working for a Rochester travel agency that managed the Cabletron account. <br><br>Robert was the loving son of the late Charles and Mary (Reid) LeVine and grew up in Dorchester. Cabletron Network Systems LTD, Savannah La Mar, Westmoreland, Jamaica. The deal with the China-based company closed on Aug. 31 to make the quarter, but two weeks later the Rochester office contained problematic terms that prevented it from going through. Cabletron, headquartered in Rochester, N.H., announced Wednesday that Levine, 39, would step down Dec. 1. Simply enter the email address you used to create your account and click "Reset Password". Not part of Spence's "big three" is Craig Benson, the co-founder of Cabletron and former one-term New Hampshire governor. "No, Bob," Benson would explain, "that's a 100% markup." Benson had his doubts. 2023 CNET, a Red Ventures company. He is, after all, prone to excess. "Everybody does it," she said Kirkpatrick told her. 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. Cabletron CEO to leave. Robert Levine, the founder the 1990s computer networking firm Cabletron . Bank of America Merrill Lynch has agreed to a $40 million settlement with Robert Levine, co-founder of Cabletron Systems, according to filings and sources familiar with the case. Levine, it seems, can't get enough. 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 to leave - Aug. 6, 1997 - CNN Business 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. Mini Biography. In an exclusive statement, Levine said: I can't believe she is gone. To keep costs down, Levine has hardly modified the telemarketing system that his brothers perfected back in his garage days. When to go. Don has contacts that will open doors for us that have never been open before, Levine said. Jaeger's attorney did not return phone calls, Patel's attorney declined comment, and Kirkpatrick's attorney, Lucy Karl, called Spence's statements "recycled poppycock" made in order to help her motion for an early termination of her supervised release, which Spence was granted two days before Christmas. Top image: US Servicemembers take cover on a beach at Paestum, south of Salerno, September 9, 1943. Workman backdated it. Levine has no plans to start another company. The Ariel deal.". In its first quarter, ended May 31, Cabletron disappointed Wall Street with earnings of $58.8 million, or 38 cents a share, just slightly above the $57.1 million, or 37 cents a share, it had reported a year earlier. Spence said she was referring to so-called "three-corner deals," some of which a federal jury later concluded violated securities law. Spence said she spent up to 300 days in preparation for testifying at her trial in December 2006, giving prosecutors a detailed map of the three-corner deals. The town's winning traits? Cabletron still moves as fast and as flexibly as a $25-million upstart. Pictures | Getty Images", "Riverstone Information for Creditors and Investors", "Extreme Networks Announces Purchase of Enterasys", https://en.wikipedia.org/w/index.php?title=Cabletron_Systems&oldid=1146091557, Networking devices, ethernet products, switches, routers, software, Global Network Technology Services (also known as GNTS) of, This page was last edited on 22 March 2023, at 18:47. "There are very few Bill Gates in the world. Theyre [the owners] all about creating experiences, and because were in Colorado, that Western theme came through, Scrivens told The Post. More to the point, he wouldn't. 5 Reasons Why You Really Must Visit Palermo, Sicily US 1st Circuit Opinions and Cases | FindLaw "Their enthusiasm was a breath of fresh air," says John Casson, head of international operations. The company's principal address is 1 Cabletron Way, P O Box 5005 Attn: Tax Dept, Rochester, NH . The other though is that Palermo is quite an easy city to navigate and get about. Benson hired a few engineers he knew. Lives in Greenwich, Connecticut with his wife, Mary Tyler Moore. TimesMachine is an exclusive benefit for home delivery and digital subscribers.
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