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Benson, who still had a full-time job, got swamped trying to keep up with the invoicing. "To counteract any problems associated with growth," suggests Casson, "Bob and Craig will simply shout louder.". "You gotta help me," he pleaded to Benson. I should have watched that over and over again because it was corporate greed it at its best.". After the stock slide, the two - who collect salaries of $52,000 a year and reportedly don't receive stock options - held a joint stake in the company that was valued at $1 . Dave Ayers, a regional sales manager in New York City, got so shaky and irrational at one point last year that Levine and Benson thought he had developed a drug problem. ATTN: Tax Department, 35 Industrial Way PO Box 5005, ROCHESTER, NH 03867; United States; Inactive Directors / Officers. "When we do, we optimize them by making them three times more effective.". It's a good thing too, because there wouldn't be anyplace for them to congregate. A 200-foot steel bridge overlooking the Rocky Mountains Sawatch mountain range leads out of the property and into the forest. The limit, as he well knew, was $70. <br><br>Robert was the loving son of the late Charles and Mary (Reid) LeVine and grew up in Dorchester. 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. year-and-a-half ago and coaxed him into bringing aboard his experience in national and global telecommunications. At Nynex, Reed is being replaced by Morrison DeS. She never finished school and went to work, ending up working for a Rochester travel agency that managed the Cabletron account. But with analysts predicting that sales could skyrocket as high as $170 million next year and more competitors streaming into the computer-networking market, Cabletron may start bumping up against the limitations of its rebellious style. ", Johnson said the decision to bring Reed on board will help the company The company was an early manufacturer of ethernet and other networking equipment necessary to make the internet. In the morning he made his case that the market was growing fast enough to support it; that afternoon he got a $1-million commitment. The other though is that Palermo is quite an easy city to navigate and get about. And awful. Contrary to Winston Churchill's belief that Italy was the "soft underbelly" of Axis-dominated Europe, the Allied campaign in Italy was a long and bloody undertaking. Mr. Benson remains with the company as chairman. It consists, he says, "of a couple of people with no real responsibility for anything. The two devices, which cost roughly $200,000 to produce, represented Cabletron's first foray into manufacturing. Revenue grew just 12 percent, to $362.7 million, from $323.5 million in the first quarter of the 1997 fiscal year. When customers called with problems, the only available equipment required shutting down the computer network -- testing customers' patience and often costing them money. Getty Images for IMDb. This was most apparent in those three-corner deals, she said. Cabletron was founded by S. Robert Levine and Craig Benson. The holding company was set up to control four networking firms: Enterasys Networks, now officially a Siemens Enterprise Communications company, continues to manufacture all manner of networking equipment and to make available most of the documentation of the original Cabletron Systems products within their knowledge base. Not part of Spence's "big three" is Craig Benson, the co-founder of Cabletron and former one-term New Hampshire governor. 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. An 8.5% unemployment rate and space at $1.40 per square foot. CABLETRON SYSTEMS, INC. :: Rhode Island (US) :: OpenCorporates And hardly any of them delivered it in less than six months. Before then, Levine and Benson, who have so far tried hard to avoid any structure that feels big, will need to figure out how best to preserve the company's cherished speed. Robert Levine, the founder the 1990s computer networking firm Cabletron . Benson attended Chatham High School in Chatham, New Jersey.After receiving a bachelor's degree in finance from Babson College in 1977, Benson attended Syracuse University, graduating with an MBA in 1979.. 2023 Fortune Media IP Limited. Cabletron CEO Levine Is Expected to Resign - WSJ In June 2014, 55 years after his father Leon had started Family Dollar . As a rep, he had dealt with far too many suppliers from whom he could not even get a firm delivery date. Cabletron started by making 5 a month; by 1986 it was up to as many as 50, and testing constituted 15% of revenues. "This is a unique opportunity to run a company in these extraordinary Storming in, he threatened, "If you people all have the time for this meeting, then I guess I really don't need this many people.". "I should have just said, 'You know what? CABLETRON SLIDE HIT FOUNDERS HARDEST - Tech Monitor It has even instituted a special program whereby salespeople hand out forms to customers, who are invited to fax in their product suggestions. Eager to stay on Benson's good side, Levine went out and bought 10,000 feet of cable -- the smallest amount he could find -- worth $30,000. He soon found out why. Tuesday, I received my indictment papers. Levine Robert - Previous President for Cabletron Systems, Inc. Nor, for that matter, is Levine much of a marketer. 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. One is that Palermo is a seriously sprawling space. "Get this," he'd brag to Benson, "I just made a 100% margin." They'll figure it out, right?". Robert Levine Net Worth & Biography 2022 - Stunning Facts You Need To Know Ultimately, the two founders persuaded Mr. Reed. 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 . And she doesn't think businesses would be reluctant to hire a convicted felon. continue to expand into the global market. Mr. Levine and Mr. Benson were furious. 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. Cabletron Systems, Inc. | Encyclopedia.com "There will not be a beat missed during the process.". 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. Nynex, was appointed to fill the chief executive slot. Cabletron was founded by S. Robert Levine and Craig Benson. He was known for making threats and being a wild character. Its very playful and all about discovery.. to leave the company about two years ago. Don has contacts that will open doors for us that have never been open before, Levine said. "Everybody does it," she said Kirkpatrick told her. View Levine S Robert's profile for company associations, background information, and partnerships. 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. "Four of the largest five entertainment giants are now run or owned by Jews. systems management software. Robert Levine Net Worth - Celebrity Net Worth Wiki Spence said she was referring to so-called "three-corner deals," some of which a federal jury later concluded violated securities law. Robert Levine was born on 22 September 1954 in Mineola, New York, USA. 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. Theyre [the owners] all about creating experiences, and because were in Colorado, that Western theme came through, Scrivens told The Post. It would be easy to pass off Levine and Benson's rejection of such big-company practices as superficial -- and, at times, absurd. 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. Reed's first day as head of the But even in making difficult and defining strategic decisions, the pair have consistently kept flexibility and speed as their top priorities. The town's winning traits? ", But, soon it appeared that "it was like we were force-feeding people. 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. He will be. 250 likes. 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. Cabletron has been known for its modular . For more details on our payment terms and how to cancel, click here. While that doesn't prevent get-togethers, both Levine and Benson argue that it does keep meetings to an average of 20 minutes or less. 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. Another benefit included renting manufacturing space at half the amount for the same square footage near Boston. He nearly hits his head on the picture hanging above him -- a sentimental shot of him and Benson outside a competitor's headquarters. They also had manufacturing facilities in Ironton, Ohio, and in Ireland. 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 . Ken Levine | Chief Executive Officer of Comodo Cybersecurity Actor Robert Hays is doing a variety of things these days. 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. Shares of Cabletron, based in Rochester, N.H., slipped 62.5 cents, to $36, on the New York Stock Exchange. What began as a part-time venture in a garage evolved into a billion dollar company by 1996. Levine amassed a fortune Forbes estimates at $625 million at. Transceivers, as Benson likes to explain, are the traffic cops of networks, transmitting and receiving signals. TimesMachine is an exclusive benefit for home delivery and digital subscribers. It's fair to ask, though, whether Levine might grow increasingly militant as the company becomes harder and harder to push around. 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. "That way, we didn't have to worry about hearing excuses from other people," says Chris Oliver, director of manufacturing and engineering. In this case, Merrill Lynch decided to settle after the final hearing. "We'll find a way to do this.". The Cabletron culture If so please contact customer support at (510) 658-9252, Password Reset Instructions have been sent to. Benson declined to comment to CNBC. Yes, I also want to receive the CNET Insider newsletter, keeping me up to date with all things CNET. She still remembers a woman named "New York," initially hostile, but ended up crying to her when it was time for Spence to leave prison, sobbing, "No one ever told me I was smart before.". Cabletron now a memory - Portsmouth Herald That's all I've ever seen," said Levine. Back then, Cabletron was not only the biggest thing in town, it was the biggest employer in the state. News Analysis Light Reading 8/6/2001. The Registered Agent on file for this company is C T Corporation System and is located at 118 North Congress Street, Jackson, MS 39205. Search our database of over 100 million company and executive profiles. 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Between 1987 and 1988, sales shot up more than 160%, from about $9.5 million to almost $25 million. Prior to mid-1986 Cabletron worked with a worthy supplier. They pose with Robert's motorcycle. 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. About Levine family. CABLETRON SYSTEMS, INC. :: Indiana (US) :: OpenCorporates Definition of Cabletron | PCMag The lawyers wrote all the agreements. This is the one time I'm asked to bird-dog something. NEW YORK (CNNfn) - A top executive at Nynex will become chief executive at . Official US Coast Guard photo, gift of Jeffrey and Mary Cole, from the . Cabletron | Article about Cabletron by The Free Dictionary 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. The loans started at $50,000. 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. And there was Levine, who, as a kid, shot birds because they woke him up with their chirping. Is this management by fear? Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection 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. Benson alleges Kenahan made similar churning violations, a FINRA public disclosure says. "It keeps me moving," he says. Push.'". "I'm not mechanically inclined," he says. For now. He was a graduate of Boston High School, Class of 1955 and later graduated Cum Laude with a degree in accounting from Massasoit Community College. He must have felt like he was drinking from a fire hose," she said. His office looks like a fun-house version of a standard CEO's work space. Sign up for Individual Select membership today. "I think I am an asset to any company who has the desire to go public or who is currently publicly traded. Coalesce's Select Membership is no longer active. Reed will resign from his post as president and group executive for There seems to be a problem with your Inman Select Membership. Cabletron, and then Enterasys, would "lend" money to small companies that used it to buy Cabletron or Enterasys equipment through a third-party distributor. Last spring, Casson approached Levine and Benson about opening a subsidiary in Australia. Perhaps the most stunning and understated amenity is a 200-foot steel viewing bridge over the forest. He runs into his office and, sidestepping some dumbbells, grabs a shirt that is hanging from the ceiling. It was like nothing could go wrong for so long, and then all of a sudden we hit that bump.". '90s tech founder lists Colorado mansion with ice cream parlor, prison 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. ''While my style may be different, I will be just as aggressive.''. Cabletron was founded by S. Robert Levine and Craig Benson. As generous as they are about firing, Levine and Benson are stingy about adding people -- "I don't even ask anymore," says Casson. 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. The complaint was filed in March 2018 for allegations of "unsuitable investment recommendations, excessive trading and misrepresentation from February 2012 until December 2017." The CABLETRON SYSTEMS, INC. principal address is 35 INDUSTRIAL WAY, P.O. 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. But "my actions, by pushing this paperwork through, allowed the company to make the quarter. She met her husband Luke Luacaw, the head of security for Levine. Levine's unique genius -- which has propelled Cabletron, in just seven years, to more than $100 million in sales with aftertax profits of about 21% -- is much rarer and broader than that. More important, perhaps, is how Cabletron followed that initial opportunity to its next leap: network-testing devices. Could I get some time? "With those three people, the culture changed," said Spence. "The thing that has made us different," he says, rising to his feet, "is that we are absolutely fearless.". "I had heard about the people who had preceded me," he says. telecomunications experience as a 30-year veteran of Nynex provides Robert Levine - IMDb Inc. 5000 Application Deadline Extended: April 28! Atlantic--expected within days, pending FCC approval--and said he The sheriffs office is a playful part of the area on the estate referred to as the car barn and apartment areas of the estate, Nobrega and Scrivens said. August 6, 1997: 8:30 a.m. [April 2007] Met his wife, Mary Tyler Moore, when she took her mother to the hospital and he was the doctor. That arbitration case was filed with FINRA in February 2018 and is pending. S. ROBERT LEVINE (PRESIDENT) CABLETRON SYSTEMS, INC. NEVADA FOREIGN CORPORATION: WRITE REVIEW: Address: 701 S Carson St Ste 200 Carson City, NV 89701: Registered Agent: C T Corporation System: Filing Date: February 27, 1989: File Number: C1533-1989: View People Named S. Robert Levine in New Hampshire 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. "I had never had a person work for me," says Levine, "so this was all pretty new.". "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. Cabletron has been known for its modular hubs and switches that support Ethernet, Token Ring, FDDI, SNA and ATM. He joined New England Telephone in 1966. Workman backdated it. Defendant Cabletron is a New Hampshire corporation in the business of manufacturing and selling networking hardware and software for large enterprise computer networks. Not wanting to sully their high-tech image -- or tie up inventory dollars in low-margin fare -- few computer companies supplied the cable. Want CNET to notify you of price drops and the latest stories? Cabletron was founded in 1983 in a Massachusetts garage by Craig Benson (who later became New Hampshire's governor) and Robert Levine. Profile of this year's Entrepreneur of the Year winners. At the time of their nuptials Moore was 45 and Levine 29-years-old. Two hours later Benson joined up. Levine and Benson identified a couple of good candidates to run foreign operations and, in June, traveled to the United Kingdom. Founder of Cabletron Systems, an internet networking company in New Hampshire that once rivaled Cisco, but went belly-up, owns this house. Cabletron Systems, Inc. -- Company History Indeed, the company's most dramatic -- and costly -- diversification began with what by now has become a standard pattern: spot a consumer need, get ideas on how to improve on what exists, and then put together enough money and people to do it quickly. It is a gradual process requiring passage through three gates before crossing over a dramatic, winding over a densely forested ravine, a sculptural feat of engineering that all by itself cost $1 million at that time., is a playful part of the area on the estate referred to as the car barn and apartment areas of the estate, Nobrega and Scrivens said. For many of us, Sunday nights won't be quite the same. User promo code onward25 during checkout to save 25% on your Inman Select Membership. Cabletron Systems - Wikipedia Kenahan has two pending arbitration claims listed on his BrokerCheck report, including one that has more than $42 million in alleged damages listed. I was not going to act like I did not do anything wrong.". "But we have to preserve the spirit.". Colorado estate that looks like an amusement park sells for $40m Only 3 days left to register for Inman Connect Las Vegas before prices go up! Commissioner They were not at liberty to discuss the sellers further. The Cabletron story starts in March of 1983 with then 25-year-old Robert Levine. Craig Benson & CEO Robert Levine of Cabletron Systems, NH. in some time,'' he said. Thanks for contacting us. He is, after all, prone to excess. Dr. The Allied Campaign in Italy, 1943-45: A Timeline, Part One Levine helped Cabletron cofounder Craig Benson find Reed about a "I want control over the people who sell my product," Levine says. Barbara Scrivens and Maria Nobrega of LIV Sotheby's International Realty are now the real estate agents trying to find a buyer to take over the sprawling estate. She found out how wrong she was when the Federal Bureau of Investigation showed up at her door in 2003. ``Ill have time to meet with more employees and customers than in the past, Benson said in a phone interview. Which is, to be sure, a remarkable achievement. Self: Being Mary Tyler Moore. The complaint was filed in March 2018 for allegations of "unsuitable investment recommendations, excessive trading and misrepresentation from February 2012 until December 2017." . Then the carefully slicked-down hair and the gleaming wire-rimmed glasses give way to something slightly more, well, menacing. God, how stupid could I have been? [citation needed], Cabletron was founded in 1983 in a Massachusetts garage by Craig Benson (who later became New Hampshire's governor) and Robert Levine. Breaking news as it happens. times 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. ET. 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. Robert Levine was born in 1954. Please contact the parent account holder or Inman customer service @ 1-800-775-4662 customerservice@inman.com. Outdoor amenities include a stocked trout pond, a playground, 12 snowmobiles, three all-terrain vehicles, snowplows and a 10-seater Snowcat. The lean company could, quite literally, work itself to death. ", At the news conference, Levine said he will stay with the company until November to assure a smooth transition. A connection is made when two people are officers, directors, or otherwise . 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. Cabletron was truly born to run. Cabletron CEO to leave - Aug. 6, 1997 - CNN Business "We were getting a lot of friction from our customer base," says Oliver, who designed the company's own transceiver in the spring of 1986. Benson differs. But, he notes, "I know what will happen if I relax at all. Stuart Robert Levine's Colorado Voter Registration One had not even started yet. Cabletron connection - eCoast Sales founder returns to familiar locale FINRA arbitration is not a public forum and is used as an alternative to litigation or mediation in order to resolve a dispute. 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. Back in 1984, when local-area networking was still new, customers asked for recommendations about whom they should have install it. The company moved to Rochester, New Hampshire in 1985 and went public . The house itself is a stylish mansion full of glass and stone. external affairs and corporate communications at Nynex. 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. native said he didn't believe he could give the amount of effort and '', For his part, Mr. Reed said he was attracted to Cabletron in large part because of its culture, and lack of bureaucracy. All Rights Reserved. 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. . 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. It is just gorgeous out there with the purple-pink peaks, said Nobrega. [citation needed]. They'd just slow things down. Alongside Craig Brenson, Levine founded Cabletron in 1983. Actually, not many of the employees stuck around for long. Sweet and salty: Estate with posh ice cream parlor and a jail hits market, Robert Levine, who founded Cabletron in the 1990s, listed his Colorado mansion this week. Stay in the know. ", She said she doesn't necessarily think her specific action in sending the e-mail about Ariel "was wrong" ("I was pushing it through based on a request from Bob Gagalis," she said.) In 1985, Cabletron was moved from Levine ' s garage to New Hampshire in order to take advantage of a lower tax rate and less expensive labor force. Benson and S. Robert Levine founded Cabletron in 1983 and moved it to New Hampshire in 1985. He also serves on the Board of Directors for the Great Commission Collective, a church planting ministry connecting more than 150 churches world wide.

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