Tyco: Aggressive Or Out Of Line?

Its accounting methods draw fire--and spirited defenders

For a company with $22.5 billion in sales and 140,000 employees, Tyco International Ltd. runs remarkably lean. So with just 30 employees on the corporate staff at its modest U.S. headquarters in the woods outside Exeter, N.H., and key operating executives scattered around the world, it's unusual for CEO L. Dennis Kozlowski to stand in front of his 200 top managers. Rarer still is the sight of Kozlowski--who runs the most voracious acquisition machine in Corporate America--on the defensive.

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