To subscribe to exclusive newsletters, visit your email preferences in the account settings. ``I was working full speed on that assignment with no thoughts of leaving the new Bell Atlantic, Reed said. Known Addresses for Cabletron Systems, Inc. Attn: Tax Dept. 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 . The final chapter in Cabletron Systems Inc. 's (NYSE: CS) rocky history was closed today as the company completed its name change and the . It was wild and wooly. The company could have grown at 10% a year simply by becoming unbeatable in cable delivery, its original niche. Levine must confront a sensitive and pivotal dilemma: how can Cabletron stay speedy while it grows huge? The Martha's Vineyard Times. To this day, Spence maintains that she knew nothing about the side letter, and she was simply passing on information from Gagalis. For many of us, Sunday nights won't be quite the same. Reed's first day as head of the Don't miss the premier event for real estate pros. BOX 5005, ROCHESTER, NH, 03867. Recently, Levine and Benson hired a couple of high-powered executives: one to serve as chief financial officer, the other as director of manufacturing. FINRA did not respond to a request for comment, while a spokesman for Bank of America Merrill Lynch declined to comment. "Sure could have used this a few years ago.". It's fair to ask, though, whether Levine might grow increasingly militant as the company becomes harder and harder to push around. Levine purchased the land for $3.32 million in 1996 and delivered the house in 2000, according to Eagle County property records. "I knew he was heading for me, so I'd stand up. I'm sure it's a big deal to the people at Cabletron.''. There seems to be a problem with your Inman Select Membership. Six months later they had developed two products: one tested the cable, the other tested other network equipment. 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. If someone would say, 'This deal is not going to work out,' they would say, 'Why don't you try harder? 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. Levine would then emerge as one of the early tech moguls of the 1990s Forbes Magazine estimated his worth to be at around $625 million in 2001. On September 12, 2013, Extreme Networks agreed to buy Enterasys Networks for $180 million. Just now that spirit, who has been seated, glances at his watch and flies to his feet. 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. Consider this: though Cabletron has long left its original niche (and the one after that) behind, though 25% of its sales now come from abroad, though the computer-networking industry has exploded in recent years, the company has held on to something that most small companies can't help let slip as they grow. The pressure will be on Mr. Reed to put Cabletron back on the growth curve. Though orders picked up at the rate of two or three a week, Levine did not expect much from Cabletron, and with good reason. 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. Get this delivered to your inbox, and more info about our products and services. The buddy with him got 17 stitches. Prior to mid-1986 Cabletron worked with a worthy supplier. Levine pumped iron in his office, gutted a rival's networking hub (from SynOptics Communications) and transformed it into a fish tank, and dressed as Rambo to rally Cabletron's direct sales force. The longest any of them had lasted was six weeks. Thirty percent of outside salespeople don't make it through the first 90 days; another 40% are gone within six months. Atlantic--expected within days, pending FCC approval--and said he is Nynex and was going to bring to Bell Atlantic.". Reed was named president and group executive of Nynex in January 1995. News Analysis Light Reading 8/6/2001. 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 Network Systems LTD, Savannah La Mar, Westmoreland, Jamaica. Levine fires any salesperson who flies during company time. ''While my style may be different, I will be just as aggressive.''. 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. 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. Self: Being Mary Tyler Moore. "Basically buying people's business," Spence said. Cabletron sells intranet and Internet networking hardware, including LAN Share. Commissioner Ken was CEO of then start-up NitroSecurity, a SIEM platform, before a successful acquisition by McAfee in 2011. Recognizing this fact, Cabletron reorganized as a holding company in 2000, hoping to apply appropriate focus to the different parts of its business as they had evolved over time. In June 2014, 55 years after his father Leon had started Family Dollar . Benson hired a few engineers he knew. Do Not Sell or Share My Personal Information. would not have accepted an offer from anyone else except Cabletron. Family Dollar had always been a family company. As generous as they are about firing, Levine and Benson are stingy about adding people -- "I don't even ask anymore," says Casson. Nynex executive will replace Cabletron founder Robert Levine. A second complaint also seeking about $40 million in damages and involving the same broker is pending. -. At McAfee, Ken was SVP and GM of the security management business unit. '', See the article in its original context from. Cable installations now account for 4% of sales. FINRA's BrokerCheck system data indicates that the settlement is the largest involving an individual claimant out of over 29,000 in the last decade, according to Craig McCann, the founder and principal of Securities Litigation and Consulting Group. Free and open company data on Rhode Island (US) company CABLETRON SYSTEMS, INC. (company number 000057845), PO BOX 5005, ROCHESTER, NH, 03867-00505 Patel, with Benson's approval, engineered the breakup of Cabletron into four companies, the largest being Enterasys. It was what she calls the "big three": Kirkpatrick, Cabletron chief executive Piyush Patel and vice president Eric Jaeger. Benson differs. Founder and CEO of networking hardware maker Cabletron, S. Robert Levine, will voluntarily step down. 'Oh yeah, take all the time you need.' Last summer Benson joined 40 employees for a Sunday boat trip. In 1996 the company eclipsed US$1 billion in sales. ", But at some point, he will reach his limit. <br><br>Robert was the loving son of the late Charles and Mary (Reid) LeVine and grew up in Dorchester. It was the $3.5 million Ariel deal that sent Spence to federal prison. Levine would then emerge as one of the early tech moguls of the 1990s Forbes Magazine estimated his worth to be at around $625 million in 2001. Cabletron has been known for its modular hubs and switches that support Ethernet, Token Ring, FDDI, SNA and ATM. Levine and Benson also pay well. Such a feature would also allow Cabletron to do more problem solving by phone -- a relief to Oliver, who was, until 1987, half of the technical support team. "At some point you get big, and that's the way it is. 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. Wiki Bio of Robert Levine net worth is updated in 2023. ", A refreshed look at leadership from the desk of CEO and chief content officer Stephanie Mehta, This site is protected by reCAPTCHA and the Google. We believe we have found the perfect fit, Levine said. In addition to his work with Nynex, Reed is also involved in the global What began as a part-time venture in a garage evolved into a billion dollar company by 1996. The Massachusetts I know that," Levine responds, shifting his boots from the desk to the floor. ''Bob is a flamboyant, energetic motivator, and as such, he has motivated people much like a football coach,'' he said. 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. Cabletron's 105-member technical-support staff vows to return all calls within an hour. 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. There are two Wild West guest suites, one with a pretend prison. Guest accommodations also include a caretakers home, a non-West-themed guest suite and three guest houses, according to the Castle Creek Retreat website. Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. NEW YORK (CNNfn) - A top executive at Nynex will become chief executive at . We don't want it to, and it won't. After returning from the . His office looks like a fun-house version of a standard CEO's work space. "There will not be a beat missed during the process.". Started in a Massachusetts garage by Craig Benson and Bob Levine in 1983, the company moved to Rochester, and became one of the biggest players in the emerging networking industry. Robert Levine. 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. One had not even started yet. Craig Benson & CEO Robert Levine of Cabletron Systems, NH. 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. Push.'". "People said, 'This is exactly what we need," recalls Oliver. I got stung. Don has contacts that will open doors for us that have never been open before, Levine said. "Bob doesn't like authority," he notes. 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. Levine has also been expanding what he refers to as a management SWAT team. ATTN: Tax Department, 35 Industrial Way PO Box 5005, ROCHESTER, NH 03867; United States; Inactive Directors / Officers. The case involved allegations of churning against former Merrill broker Charles Kenahan. Published on January 26, 2017 01:00 PM. I was not going to act like I did not do anything wrong.". Cabletrons earnings fell below expectations in the first quarter ended May 31 and revenue was up a disappointing 12 percent. What began as a part-time venture in a garage evolved into a billion dollar company by 1996. It doesn't feel like there are 1,300 people here. Benson explored the opportunity incognito, even printing up separate business cards. The individual defendants, Craig R. Benson, S. Robert Levine, David J. Kirkpatrick, Christopher J. Oliver, Paul R. Duncan, Donald F. 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. Barbara Scrivens and Malia Nobrega of LIV Sothebys International Realty are the listing agents for the estate. 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. The town's winning traits? Why, Oliver wondered, couldn't we incorporate several light-emitting diodes so that users could do more of their own troubleshooting? Confronted, Ayers confessed he was just worn out. To a large extent their shared contempt for this insidious enemy -- Levine calls it deadwood, while Benson refers to it as bureaucracy -- dominates Cabletron's culture. Founder of Cabletron Systems, an internet networking company in New Hampshire that once rivaled Cisco, but went belly-up, owns this house. Back then, Cabletron was not only the biggest thing in town, it was the biggest employer in the state. Reed said he made the choice to join Cabletron within the last two "I just wanted to get rid of the stuff," he says, "but people really appreciated the fast delivery.". "I won't leave you out in the lurch," Levine assured. The management change is not expected to dampen speculation that Cabletron is ripe for an acquisition itself, or in line to acquire another company. Earlier in the session, it was up as much as $1.875 a share. At Nynex, Reed is being replaced by Morrison DeS. "It can happen within 24 hours.". "This is a unique opportunity to run a company in these extraordinary Two hours later Benson joined up. [April 2007] Met his wife, Mary Tyler Moore, when she took her mother to the hospital and he was the doctor. [citation needed], Cabletron was founded in 1983 in a Massachusetts garage by Craig Benson (who later became New Hampshire's governor) and Robert Levine. 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. 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.
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