They said the case went to a final hearing in front of an arbitration panel before Merrill decided to settle. ''Really, he hadn't functioned in the traditional role of a C.E.O. He nearly hits his head on the picture hanging above him -- a sentimental shot of him and Benson outside a competitor's headquarters. native said he didn't believe he could give the amount of effort and "His valuation was ludicrous, but I didn't mean to soak him," says Levine. Benson's contact took the first 1,000 feet of cable off Levine's hands, paying him $10,000. I was not going to act like I did not do anything wrong.". Building a sales team, of course, gets expensive. Stuart Robert Levine (born 1958) is listed at 25 Casteel Creek Rd Edwards, Co 81632 and is affiliated with the Colorado Republican Party. Call Them Nasty, or Tough. But Call Them Millionaires It's a good thing too, because there wouldn't be anyplace for them to congregate. 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. 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. 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. 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. Is this management by fear? Perhaps the most stunning and understated amenity is a 200-foot steel viewing bridge over the forest. Get the latest tech stories from CNET News every weekday. Cabletron Systems, Inc. in Rochester NH - Company Profile Stuart Robert Levine's Colorado Voter Registration. In his place was his handpicked successor, Patel, who joined Cabletron when it bought his California networking company. The company's principal address is 1 Cabletron Way, P O Box 5005 Attn: Tax Dept, Rochester, NH . By early 1985 the company was taking out loans of $850,000, borrowing against inventory and accounts receivable. Want CNET to notify you of price drops and the latest stories? More to the point, he wouldn't. The loans started at $50,000. User promo code onward25 during checkout to save 25% on your Inman Select Membership. Searching For Italy: Stanley Tucci Visits Sicily - Forbes Stay in the know. Though orders picked up at the rate of two or three a week, Levine did not expect much from Cabletron, and with good reason. Definition of Cabletron | PCMag CABLETRON SYSTEMS, INC. in Jackson, MS | Company Info & Reviews ", Perhaps so. Similarly, Benson had emerged from his previous job with an almost pathological hatred of vice-presidents. Defendant Cabletron is a New Hampshire corporation in the business of manufacturing and selling networking hardware and software for large enterprise computer networks. Levine, co-founder of Cabletron, is a pioneer computer-networking magnate noted by Forbes magazine. 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. Such trigger-happy behavior takes a toll on morale. Cabletron was founded in 1983 in a Massachusetts garage by Craig Benson (who later became New Hampshire's governor) and Robert Levine. "We needed more people," says Ayers, 36, "and we weren't getting them." 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. As she told that business class at UNH: "You need to trust your judgment, to follow your gut. CABLETRON SYSTEMS, INC. has been set up 8/15/1989 in state DE. "We don't research the hell out of something before we do it," Levine says. Electronics Levine, more interested in lifting sales than morale, was hard on them. "No matter how big we get, I've got to be able to touch enough people so that the electricity zips down to everyone. But most CEOs find it harder to remember, and more challenging to follow through on, as revenues soar. This is the one time I'm asked to bird-dog something. 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. Tuesday, I received my indictment papers. Dr. Webb, executive vice president and general counsel. Cabletron still moves as fast and as flexibly as a $25-million upstart. In fact, you can pretty comfortably walk around its historic centre. 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. They received the spreadsheets that were maintained. "Sicily," the final episode of the hit food travel show, Stanley Tucci: Searching for Italy, will air on CNN at . Many a growing company forgets the lessons of its earlier days. The advisor involved is Charles Kenahan, according to FINRA's BrokerCheck. And "if you use a flip chart, you don't belong here," he says. Then, with his father's help, he located a banker, who, he says, "kept lending us money. The pair first approached Reed a year-and-a-half ago, but Reed said he didnt want to leave Nynex in the middle of its merger with Bell Atlantic. Some people swear they've seen the magazine of the same name lying on his desk. Cabletron's uniqueness goes beyond moving faster than most companies to fill orders. The lawyers wrote all the agreements. 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. Recently, Levine and Benson hired a couple of high-powered executives: one to serve as chief financial officer, the other as director of manufacturing. That's an important role, so I hope they find somebody to fill that function. The digs are hardly ritzy: partitions, steel desks, small cubicles. "With the rapid convergence of voice, video, and data, Don's extensive ", However, in a larger sense, she said, "I knew what I did, and it was wrong. Robert Levine Bio/Wiki, Net Worth, Married 2018. Share. Benson had his doubts. 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. I don't know why, but he probably thought my father would make good." Connect with the definitive source for global and local news. History. ET. 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. Reed was named president and group executive of Nynex in January 1995. The company could have grown at 10% a year simply by becoming unbeatable in cable delivery, its original niche. Mary Tyler Moore's Husband Opens Up About Her Death - Heartbreaking weeks. 250 likes. Spence went on to plead guilty to securities fraud and was sentenced to more than two years in federal prison. That's not so easy, given that Cabletron -- like Levine -- can't sit still. As the company has grown, the two have become more fierce about stamping out anything that even remotely resembles bloat. Free and open company data on Rhode Island (US) company CABLETRON SYSTEMS, INC. (company number 000057845), PO BOX 5005, ROCHESTER, NH, 03867-00505 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. How long can they keep up the pace? and WAN switches, remote access products, and advanced network and "They made a mistake and wanted to go back home and get a second chance.". And she thought her role in them was relatively minor. CABLETRON SYSTEMS, INC. :: Rhode Island (US) :: OpenCorporates Benson explored the opportunity incognito, even printing up separate business cards. Get this delivered to your inbox, and more info about our products and services. Robert Levine Net Worth & Biography 2022 - Stunning Facts You Need To Know 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. 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. The normal lead time would have been about six months. Last summer, for kicks, he chased a pizza-delivery boy, and the following day while "four-wheeling in the woods," he ran smack into a tree. It was sold in 1998 to a private company. 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 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. Robert Levine, the founder the 1990s computer networking firm Cabletron . The pressure will be on Mr. Reed to put Cabletron back on the growth curve. Recently, he received $40 million in compensation from Merrill Lynch after accusing them of churning,or excessive trading to generate commissions against the best interest of their clients. Levine still owns nearly 40%, Benson claims 30%, and key employees own the balance. Cable installations now account for 4% of sales. People also asked That was why a shortened quarter (because Enterasys was changing its fiscal year) of one month in September was so crucial. They'll figure it out, right?". 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. ", That, Levine would argue, simply allows the company to hold on to something much more valuable -- and easily diluted -- than its margins. 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. Back in 1984, when local-area networking was still new, customers asked for recommendations about whom they should have install it. Colorado mega-mansion built by tech entrepreneur has its own Old West-style town with a saloon and sheriff's jail . Benson alleges Kenahan made similar churning violations, a FINRA public disclosure says. Last summer Benson joined 40 employees for a Sunday boat trip. John Ford. 2023 Fortune Media IP Limited. 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. year-and-a-half ago and coaxed him into bringing aboard his experience in national and global telecommunications. Follow-Through - Forbes He will be. And The VAR Guy loved writing about the duo. Jewish Media Power : JEWISH INFLUENCE IN THE MASS MEDIA '90s tech founder lists Colorado mansion with ice cream parlor, prison As a test, Levine told telemarketers to ask customers ordering cable if they were interested in having Cabletron do the job. Then, in 2004, shortly after her husband died, an agent called her on her cell phone to tell her she was the subject of a grand jury investigation. On September 12, 2013, Extreme Networks agreed to buy Enterasys Networks for $180 million. 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. times All rights reserved. Links: www.cbsnews.com 2,157 views 1.0 ( 1 votes) Categories Buildings > Residential Comments Policies (Photo by Peter Turnley/Corbis/VCG via Getty Images) 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. Workman backdated it. In-stock items are shipped within 48 hours. Although Cabletron has made a few small acquisitions, it has largely sat out the furious consolidation of the networking industry. Actually, not many of the employees stuck around for long. The case involved allegations of churning against former Merrill broker Charles Kenahan. Forgot your username? Cabletron, R.I.P. The 30,000-square-foot glass and stone home has eight bedrooms, 10 full bathrooms and six powder rooms and that doesnt include the 28,000-square-foot amenities lodge and the almost 10,000-square-feet of guest lodging. The few white-collar criminals were primarily there for embezzlement. There have been no vice-presidents since. 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. The one-of-a-kind estate is now up for sale, listed for $42 million. ''Bob is a flamboyant, energetic motivator, and as such, he has motivated people much like a football coach,'' he said. One of the rooms is a retro-style ice cream parlor with marble countertops and sleek cone and topping holders on the table. "And we don't have to deal with upset customers." It is a gradual process requiring passage through three gates before crossing over a dramatic steel bridge winding over a densely forested ravine, a sculptural feat of engineering that all by itself cost $1 million at that time.. About Levine family. Cabletron's success, thus far, has been built on knowing what it isn't; now it must define what it is. A connection is made when two people are officers, directors, or otherwise . 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. As a teenager, he "exercised the engine" of his mother's white Cordoba by zooming along at 101 miles per hour -- or at least that's what the police claimed when they caught up with him. At its height in the early 1990s, it employed nearly 4,000 workers in the state, with another 3,000 on . The house itself is a stylish mansion full of glass and stone. 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. In making the announcement, Benson emphasized Reed has a different management style, but Reed said he has no immediate plans to make changes. He runs into his office and, sidestepping some dumbbells, grabs a shirt that is hanging from the ceiling. The officials she testified against and helped convict got even more time. "It grew fast. Only 3 days left to register for Inman Connect Las Vegas before prices go up! But as it turns out, there was nothing frivolous about their partnership. 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. "There are very few people who can take a company from zero to a But, he notes, "I know what will happen if I relax at all. Afterward he ordered two of them fired immediately. 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. "You can always do a little more. Craig Benson & CEO Robert Levine of Cabletron Systems, NH. With Cabletron stock trading at about $25 last fall, Levine and Benson's combined ownership was worth about $440 million. . An 8.5% unemployment rate and space at $1.40 per square foot. How so and so had so much shares, stocks options and this and that. The buddy with him got 17 stitches. Craig Benson - Wikipedia Look closely; it's not Levine. Now he's lucky to visit them all in a year. When the company went public, they gave away $2.3 million worth of shares to employees. The company also developed a reputation for its advanced SPECTRUM network . You never really even have to leave the estate to have fun. Spence said she was referring to so-called "three-corner deals," some of which a federal jury later concluded violated securities law. 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. Nynex and was going to bring to Bell Atlantic.". Cabletron was truly born to run. Subscribe to Inman Select for Breaking News and Exclusive Industry Content. At the time of their nuptials Moore was 45 and Levine 29-years-old. There's no missing it: Cabletron clings to a distinct identity. Co-founder Levine leaving as head of Cabletron, replaced by Nynex exec As a rep, he had dealt with far too many suppliers from whom he could not even get a firm delivery date. Nynex executive will replace Cabletron founder Robert Levine. It was a way to invest in companies and give them a leg up. Cabletron doesn't waste any time deciding whether to make the products its customers suggest. "I'd sit in his car and find invoices between the seats," recalls Levine. But aside from that, there was more commonality than differences. Its very playful and all about discovery.. ``I was working full speed on that assignment with no thoughts of leaving the new Bell Atlantic, Reed said. 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 company also developed a reputation for its advanced SPECTRUM network . With their go-ahead, Oliver handed out 100 transceivers for testing. Founder of Cabletron Systems, an internet networking company in New Hampshire that once rivaled Cisco, but went belly-up, owns this house. Don has contacts that will open doors for us that have never been open before, Levine said. Analysts had expected 50 cents. 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. 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. "I had never had a person work for me," says Levine, "so this was all pretty new.". 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. Levine helped Cabletron cofounder Craig Benson find Reed about a Robert C. LeVine, 77 of East Bridgewater died peacefully on June 23. is Inc. 5000 Application Deadline Extended: April 28!Apply Now. At Nynex, Reed is being replaced by Morrison DeS. Cabletron's profits may be fat, but salespeople live under scrawny conditions. The Cabletron culture They pose with Robert's motorcycle. The move is also seen as a plus by analysts, because most of Cabletron's competitors have already dropped their founders from top management positions. ''On the one hand, it's part of the natural maturation; on the other, when the founder leaves a company it's always a big deal. 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. Founder and CEO of networking hardware maker Cabletron, S. Robert Levine, will voluntarily step down. People would say, 'I don't want to do that,' and they would say, 'You find a way to make them do it.'". The longest any of them had lasted was six weeks. ``Frankly, we wouldnt just turn Cabletron over to just anybody. I was a prisoner in a federal women's camp. Ken was CEO of then start-up NitroSecurity, a SIEM platform, before a successful acquisition by McAfee in 2011. Such "box movers," as he calls resellers, have no incentive to excel at customer service. 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. 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 company was an early manufacturer of ethernet and other networking equipment necessary to make the internet. He is also well known to radio and . Rochester, NH 03867 34 Raeder Dr Stratham, NH 03885 COUNTRY BROOK Stratham, NH 03885 19 Bay Shore Dr Greenland, NH . But then a series of disputes led Levine to conclude that the supplier had become "nonreactive and bureaucratic." Could I get some time? 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. Cabletron was founded by S. Robert Levine and Craig Benson. He will be succeeded by Donald B. Reed, 53, whose departure as president and group executive for external affairs at the Nynex Corporation was expected. 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. "I should have just said, 'You know what? Push.'". By submitting your email address, you agree to receive marketing emails from Inman. It was the $3.5 million Ariel deal that sent Spence to federal prison. Levine travels at least 30% of the time; Benson stays mostly at headquarters. 1. The final chapter in Cabletron Systems Inc. 's (NYSE: CS) rocky history was closed today as the company completed its name change and the . The recipient of the settlement is Robert Levine, co-founder of one-time network equipment maker Cabletron Systems, according to the sources. Current Analysis. "But if business ever goes bad. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and . BOX 5005, ROCHESTER, NH, 03867. "The class that I am taking now is about business ethics," she said. Robert Levine Mary Tyler Moore's husband - DailyEntertainmentNews.com 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. 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. Where is Robert Levine New Hampshire what is he doing after cabletron 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. "I just wanted to get rid of the stuff," he says, "but people really appreciated the fast delivery.". 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. 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.. Transceivers, as Benson likes to explain, are the traffic cops of networks, transmitting and receiving signals. A large part of this walkability is due to . Benson urged him to ease up. If I even have a sniff that something is wrong, my hand is going up. Cabletron has been known for its modular . Webb will stay on at Bell Atlantic in the same top-level posts Reed would have had. He was known for making threats and being a wild character. Cabletron | Article about Cabletron by The Free Dictionary "Let's go over there and do it until it gets done," Benson suggested. It was like nothing could go wrong for so long, and then all of a sudden we hit that bump.". Mary Tyler Moore's husband of more than 33 years, Dr. S. Robert Levine, opened up to People this week about his heartbreak following Moore's death at age 80 on Jan. 25. 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. Levine had a habit of wearing ostrich-skin boots and once used an armored tank to chase away a pizza delivery worker. A 200-foot steel bridge leads out of the property and into the forest overlooking the forest and Rocky Mountains Sawatch mountain range. It's fair to ask, though, whether Levine might grow increasingly militant as the company becomes harder and harder to push around. The 50,000-square-foot mega-mansion, which Levine built after retiring from tech in 1997, was built in fitting with the tech giant's unique tastes. That's no surprise since Palermo is the largest city in Sicily and one of the largest in Italy. Here was Benson, three years older, always urging that they think things through. Robert Levine's House in Edgartown, MA (Google Maps) It has even instituted a special program whereby salespeople hand out forms to customers, who are invited to fax in their product suggestions. US 1st Circuit Opinions and Cases | FindLaw Dr. S. Robert Levine, a physician, became Moore's husband in 1983. The CABLETRON SYSTEMS, INC. principal address is 35 INDUSTRIAL WAY, P.O. In all 126,000 square feet of Cabletron's headquarters, now in Rochester, N.H., there is not even one meeting room. More important, perhaps, is how Cabletron followed that initial opportunity to its next leap: network-testing devices.