's robert levine cabletron

Ultimately, the two founders persuaded Mr. Reed. Subscribe to Inman Select for Breaking News and Exclusive Industry Content. Connect with the definitive source for global and local news. By submitting your email address, you agree to receive marketing emails from Inman. BOX 5005, ROCHESTER, NH, 03867. S Robert Levine Profiles in CT, DE, MA, NE, NH, and NV - Bizapedia "But we have to preserve the spirit.". Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. It used to be that Levine could make the rounds of all the salespeople in a month. Alongside Craig Brenson, Levine founded Cabletron in 1983. Orders grew larger and larger: one company signed up for $225,000 worth of cable. Coalesce's Select Membership is no longer active. 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. 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. There have been no vice-presidents since. More recently, Levine was in the news in 2019 after Bank of America Merrill Lynch agreed to pay him $40 million as a settlementin response to his allegations that one of its brokers churned him by making poor investment recommendations to receive commissions. Back in 1984, when local-area networking was still new, customers asked for recommendations about whom they should have install it. His track record in entrepreneurial ventures was hardly encouraging. January 11, 2022. 2400 Casteel Creek Rd, Edwards, CO 81632 | Zillow Robert Levine was born on 22 September 1954 in Mineola, New York, USA. Benson did not want to end up jobless, especially with his wife about seven months pregnant. It's hard to miss the symbolism taking place at the former Cabletron headquarters off Ten Rod Road in Rochester, even if Bill Gibney works to downplay it. Shares of Cabletron, based in Rochester, N.H., slipped 62.5 cents, to $36, on the New York Stock Exchange. When he came back to them with a prototype, Levine and Benson responded appropriately. Now he's lucky to visit them all in a year. BOX 5005, ROCHESTER, NH, 03867. Levine has no plans to start another company. Not wanting to sully their high-tech image -- or tie up inventory dollars in low-margin fare -- few computer companies supplied the cable. Bob Levine and Craig Benson built Cabletron Systems Inc. into a $100-million upstart by staying light on their feet. Cabletron founder, CEO to resign - CNET It has even instituted a special program whereby salespeople hand out forms to customers, who are invited to fax in their product suggestions. What began as a part-time venture in a garage evolved into a billion dollar company by 1996. ''While my style may be different, I will be just as aggressive.''. "I'd sit in his car and find invoices between the seats," recalls Levine. With Cabletron stock trading at about $25 last fall, Levine and Benson's combined ownership was worth about $440 million. Bob Lepine - Podcast Guest - FamilyLife In-stock items are shipped within 48 hours. 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. Colorado mega-mansion built by tech entrepreneur has its own Old West-style town with a saloon and sheriff's jail . Mr. Benson said Mr. Levine's unusual style had nothing to do with the decision to seek a new chief executive. If they weren't physically there, they were on the conference calls. Dr. S. Robert Levine, a physician, became Moore's husband in 1983. "I've never run a multibillion-dollar company beforeI grew up in Cabletron. 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. That's something I tried to do at As for the terms, they were taken out, but then included in a side letter. "I started off by saying, 'For 20 days and 20 months, I had no first name and I was referred to as 03418049. "When we do, we optimize them by making them three times more effective.". Mary Tyler Moore battled hardships from brain tumors to diabetes throughout her marriage to Dr. Robert Levine, and he stood by her side through it all. The pressure will be on Mr. Reed to put Cabletron back on the growth curve. Cabletron's profits may be fat, but salespeople live under scrawny conditions. Wiki Bio of Robert Levine net worth is updated in 2023. The loans started at $50,000. The digs are hardly ritzy: partitions, steel desks, small cubicles. That's not so easy, given that Cabletron -- like Levine -- can't sit still. Prosecutors said the side letter was created to hide the changes from auditors. "He should have run, but he also didn't speak up.". The complaint was filed in March 2018 for allegations of "unsuitable investment recommendations, excessive trading and misrepresentation from February 2012 until December 2017." That arbitration case was filed with FINRA in February 2018 and is pending. The company has 3 contacts on record. "Cabletronians," as employees call themselves, value speed, decisiveness, and responsiveness. Simply enter the email address you used to create your account and click "Reset Password". CABLETRON SYSTEMS, INC. :: Rhode Island (US) :: OpenCorporates With their go-ahead, Oliver handed out 100 transceivers for testing. Is this management by fear? 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. 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. Benson and Levine said Reeds international experience also attracted them, as the computer company tries to expand its overseas operations. View Levine S Robert's profile for company associations, background information, and partnerships. I dont know of another place like it, co-listing agent Barbara Scrivens of LIV Sothebys International Realty told The Post. It was a way to invest in companies and give them a leg up. 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. I'll hear those heels." ", 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. Dr. Actor Robert Hays is doing a variety of things these days. At Nynex, Reed is being replaced by Morrison DeS. Cabletron, R.I.P. | Light Reading The individual defendants, Craig R. Benson, S. Robert Levine, David J. Kirkpatrick, Christopher J. Oliver, Paul R. Duncan, Donald F. He will be. Cabletron, R.I.P. 250 likes. And hardly any of them delivered it in less than six months. Reed said he made the choice to join Cabletron within the last two Spence, then Cabletron's director of worldwide sales, said she shook her head thinking, "Oh my God." Forgot your username? One is that Palermo is a seriously sprawling space. Or, swept away by its continued growth, it may lose its edge. Cabletron Systems, Inc. in Rochester NH - Company Profile 'Oh yeah, take all the time you need.' CABLETRON SYSTEMS, INC. has been set up 8/15/1989 in state DE. Registered Address. Spence said she was referring to so-called "three-corner deals," some of which a federal jury later concluded violated securities law. No revelation there. Please contact the parent account holder or Inman customer service @ 1-800-775-4662 customerservice@inman.com. It also happened to be when terrorists flew jumbo jets into the World Trade Center and Pentagon, not only killing thousands of people, but also disrupting the nation's economy and information system. It would be wrong to present Bob Levine's need for speed as simply a strategic imperative. User promo code onward25 during checkout to save 25% on your Inman Select Membership. Leading commentary by award-winning journalists. 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. He also serves on the Board of Directors for the Great Commission Collective, a church planting ministry connecting more than 150 churches world wide. At the same time, competitors like Cisco Systems Inc., the 3Com Corporation and Ascend Communications Inc. have pursued multibillion-dollar acquisitions that have given them much broader product lines and higher revenues. 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. As a subscriber, you have 10 gift articles to give each month. For now. A part of outside grounds have been recreated to look like a Wild West town, complete with a shooting range, a model sheriffs office and even a jail cell as one of the rooms. Levine began with $100,000 of his own money. It was what she calls the "big three": Kirkpatrick, Cabletron chief executive Piyush Patel and vice president Eric Jaeger. Benson alleges Kenahan made similar churning violations, a FINRA public disclosure says. . ", But at some point, he will reach his limit. The lawyers wrote all the agreements. Call Them Nasty, or Tough. But Call Them Millionaires It doesn't feel like there are 1,300 people here. Cabletron has been known for its modular hubs and switches that support Ethernet, Token Ring, FDDI, SNA and ATM. We don't want it to, and it won't. "His valuation was ludicrous, but I didn't mean to soak him," says Levine. More to the point, he wouldn't. Such big-company prerogatives as vice-presidents and massive meetings have no place at Cabletron. The Allied Campaign in Italy, 1943-45: A Timeline, Part One Some people swear they've seen the magazine of the same name lying on his desk. ''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. The current status of the business is Inactive. Afterward he ordered two of them fired immediately. 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%. Cabletron ultimately developed its own routing capability, but found it increasingly difficult to compete at the low end of the Ethernet market and continue to invest in high-end routing technology. One of the rooms is a retro-style ice cream parlor with marble countertops and sleek cone and topping holders on the table. " Welts doesn't worry as much anymore. "I wasn't a good criminal.". "I had never had a person work for me," says Levine, "so this was all pretty new.". Founder of Cabletron Systems, an internet networking company in New Hampshire that once rivaled Cisco, but went belly-up, owns this house. 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. in the industry," he said at the news conference. Levine also owns 15 guns, which he has, on occasion, used to shoot up his own sprinkler system. Now, a year out of federal prison, Spence maintains that the wrong people went to jail. He will be succeeded by Don Reed, 53, a top officer from the regional phone company Nynex Corp., which is being acquired by Bell Atlantic Corp. ``The amount of effort and time and travel that will be involved to get Cabletron to the multi-billion dollar level, which I have no doubt Cabletron can achieve, is time I am not willing or able to invest at this time, Levine said in explaining his decision. 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. Three-corner deals became a big deal up to and during the launch of Enterasys. Robert Levine's House in Edgartown, MA (Google Maps) That makes seven offices that Casson has opened abroad. Thank you for subscribing to Morning Headlines. In 1987, with sales at more than $9 million, they shifted to semiautomatic machinery. As a result, Cabletron has grown much faster, and more daringly, than anyone might have expected. Current Analysis. Branch of CABLETRON SYSTEMS, INC. (Delaware (US)) Controlling Company CABLETRON SYSTEMS, INC. There's no missing it: Cabletron clings to a distinct identity. They were not at liberty to discuss the sellers further. Robert C. LeVine, 77 of East Bridgewater died peacefully on June 23. You will be charged . August 6, 1997: 8:30 a.m. "I just wanted to get rid of the stuff," he says, "but people really appreciated the fast delivery.". 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. "If they're afraid of being fired," charges Bob Monaco, "they probably deserve to be fired.". Jack Branowski, who is a director of sales, has 17 people reporting to him. Walk away. Back in 1985 the company moved from Massachusetts to New Hampshire, where space was at least $5 a square foot less, and some employees were much cheaper. His 67-foot Hatteras is named Soldier of Fortune. What you need to know to start your day with all the latest industry developments. The Dead Tech Company I Miss Most - Channel Futures 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. In 1983, Benson and partner Robert Levine started Cabletron Systems in Levine's garage. On September 12, 2013, Extreme Networks agreed to buy Enterasys Networks for $180 million. It looks like youre already a Select Member! In this case, Merrill Lynch decided to settle after the final hearing. The management change is not expected to dampen speculation that Cabletron is ripe for an acquisition itself, or in line to acquire another company. Family Dollar had always been a family company. 2023 CNET, a Red Ventures company. "I couldn't," he says with a shrug. . 5 Reasons Why You Really Must Visit Palermo, Sicily Levine and Benson identified a couple of good candidates to run foreign operations and, in June, traveled to the United Kingdom. In retirement, Levine built a Colorado mega-mansion with unheard-of amenities, including an ice cream parlor, two shooting ranges and a Western town with a sheriffs office, to name a few. Robert Levine, who founded Cabletron and was one of the tech giants to emerge in the 1990s, just listed his custom Colorado mansion for $44.2 million.. Benson's contact took the first 1,000 feet of cable off Levine's hands, paying him $10,000. A Division of NBCUniversal. Ex-Cabletron exec reflects: 'Why didn't I speak up?' Thanks for contacting us. ''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. Former Enterasys CFO Bob Gagalis is still serving an 11-1/2 year term. Stuart Robert Levine (born 1958) is listed at 25 Casteel Creek Rd Edwards, Co 81632 and is affiliated with the Colorado Republican Party. He currently serves as a Update: A former version of this article misstated the homes listing price. In 1988 the company earned the #7 spot on the Inc. 500, our ranking of the fastest-growing small private companies. 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. "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. "I didn't want some venture capitalist coming in and telling us what to do," Levine says. Another benefit included renting manufacturing space at half the amount for the same square footage near Boston. ``Don also has the contacts, contacts that I was never able to develop, maybe just because I havent been around long enough. In 1996 the company eclipsed US$1 billion in sales. A second complaint also seeking about $40 million in damages and involving the same broker is pending. "With the rapid convergence of voice, video, and data, Don's extensive ", Of course, neither Cabletron's sales, nor profits, nor quality show any signs of eroding. 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. 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. telecomunications experience as a 30-year veteran of Nynex provides Not part of Spence's "big three" is Craig Benson, the co-founder of Cabletron and former one-term New Hampshire governor. The Nynex executive has been negotiating his company's merger with Bell . [1] As manufacturing and design operations expanded, Cabletron relocated to Rochester, New Hampshire, employing 6,600 people at its peak. "Maybe he didn't want to know. And she doesn't think businesses would be reluctant to hire a convicted felon. Robert Levine, who founded Cabletron and was one of the tech giants to emerge in the 1990s, just listed his custom Colorado mansion for $44.2 million. Company:Cabletron Systems - HandWiki It starts with the muscles. Bob Lepine is the Lead Pastor at Redeemer Community Church in Little Rock, Arkansas which he helped plant in 2008. Craig Benson - Wikipedia "Get this," he'd brag to Benson, "I just made a 100% margin." Outdoor amenities include a stocked trout pond, a playground, 12 snowmobiles, three all-terrain vehicles, snowplows and a 10-seater Snowcat. The bump came in 2001. That's an important role, so I hope they find somebody to fill that function. Free to concentrate on sales calls, his salespeople rack up sales three times higher than the industry average, Levine claims. Cabletron doesn't waste any time deciding whether to make the products its customers suggest. PDF United States District Court for The District of New Hampshire Order Where is Robert Levine New Hampshire what is he doing after cabletron "It can't take longer than a week." Nynex and was going to bring to Bell Atlantic.". If it doesn't feel right, don't do it. Breaking news as it happens. Robert Levine and Craig Benson are co-founders of Cabletron, a Some important details were learned along the way: there were few qualified electricians who knew, for instance, that the cable had to be guided away from fluorescent lights, which caused distorting static, and looped carefully so as not to impair the signal. 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. Cabletron's Chief Executive Plans to Step Down Sept. 1 FINRA did not respond to a request for comment, while a spokesman for Bank of America Merrill Lynch declined to comment. 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. Cabletron Network Systems LTD, Savannah La Mar, Westmoreland, Jamaica. But "my actions, by pushing this paperwork through, allowed the company to make the quarter. Levine's perennial short sleeves strain against his imposing biceps, trophies of a decade and a half of daily weight lifting. "We don't research the hell out of something before we do it," Levine says. The other though is that Palermo is quite an easy city to navigate and get about. year-and-a-half ago and coaxed him into bringing aboard his experience in national and global telecommunications. Benson hired a few engineers he knew. 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. 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. CONCORD, N.H. (AP) _ Fourteen years after co-founding a small computer cable company in his garage, S. Robert Levine is retiring as president and chief executive of Cabletron Systems. "That's where the growth is right now.". On that score, his latest brainstorm involved having decks of cards made up with a snapshot of his head, along with that of Craig R. Benson, chairman, treasurer, and chief operating officer, on the jokers. Levine was a Forbes 400 member with a net worth estimated at $625 million by Forbes in 2001. ", That, Levine would argue, simply allows the company to hold on to something much more valuable -- and easily diluted -- than its margins. Inc. 5000 Application Deadline Extended: April 28! Robert Levine - The Martha's Vineyard Times Colorado estate that looks like an amusement park sells for $40m Look closely; it's not Levine. It was like nothing could go wrong for so long, and then all of a sudden we hit that bump.". Reed was named president and group executive of Nynex in January 1995. "There are very few people who can take a company from zero to a A 200-foot steel bridge overlooking the Rocky Mountains Sawatch mountain range leads out of the property and into the forest. Gayle Spence said she asked David Kirkpatrick, then chief financial officer of Cabletron Systems, at the time in 2001 when the Rochester company was spinning off Enterasys Networks. One had not even started yet. That complaint was brought by Craig Benson, the former governor of New Hampshire and co-founder of Cabletron with Levine, according to sources familiar with the case. That was why a shortened quarter (because Enterasys was changing its fiscal year) of one month in September was so crucial. He was previously married to Mary Tyler Moore. Spence's second chance started in June 2009. Levine helped Cabletron cofounder Craig Benson find Reed about a It was the $3.5 million Ariel deal that sent Spence to federal prison. Robert Levine Stood Strong by Mary Tyler Moore's Side - People More than a decade ago, Bob Levine's high school classmates voted him "Least Likely to Succeed." In 1992, a different group of peers voted S. Robert Levine, president and CEO of Cabletron Systems, Inc. magazine's "Entrepreneur of the Year," an honor he shared with Craig Benson, the company's chairman. Recently, Levine and Benson hired a couple of high-powered executives: one to serve as chief financial officer, the other as director of manufacturing. 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. networking hardware company will be September 1, according to company executives. [1] As manufacturing and design operations expanded, Cabletron relocated to Rochester, New Hampshire, employing 6,600 people at its peak. The recipient of the settlement is Robert Levine, co-founder of one-time network equipment maker Cabletron Systems, according to the sources. 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. The company's two founders, chairman Craig Benson and chief executive Robert Levine lost a whopping $605m of their combined net worth, according to a Reuters report. Analysts had expected 50 cents. 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. "Four of the largest five entertainment giants are now run or owned by Jews. "That way, we didn't have to worry about hearing excuses from other people," says Chris Oliver, director of manufacturing and engineering. Benson and S. Robert Levine founded Cabletron in 1983 and moved it to New Hampshire in 1985. "I want to spend this time with my family. I should have watched that over and over again because it was corporate greed it at its best.". Want CNET to notify you of price drops and the latest stories? Thirty percent of outside salespeople don't make it through the first 90 days; another 40% are gone within six months. 30 Jul Merrill Lynch pays $40 million to Cabletron co-founder after If so please contact customer support at (510) 658-9252, Password Reset Instructions have been sent to. We want to hear from you. His toughness arises from a need to prove something.

Jerry Palmer Obituary, Ash Replaced Hand In Evil Dead Word Craze, Apartments For Rent Fernley, Nv, Is There A Hurricane Coming To Florida 2021, Li Chin Rodger, Articles OTHER