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. 'Oh yeah, take all the time you need.' Search our database of over 100 million company and executive profiles. If someone would say, 'This deal is not going to work out,' they would say, 'Why don't you try harder? "On the eve of Thanksgiving, she regurgitates an old allegation, giving new meaning to the phrase an old stuffed bird," Karl said. It doesn't feel like there are 1,300 people here. 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. The Cabletron story starts in March of 1983 with then 25-year-old Robert Levine. Which is, to be sure, a remarkable achievement. Benson did not want to end up jobless, especially with his wife about seven months pregnant. Levine fires any salesperson who flies during company time. Levine still owns nearly 40%, Benson claims 30%, and key employees own the balance. "It can happen within 24 hours.". Levine said he decided almost two years ago to leave Cabletron, but he did not want to step down until he and Benson hired a new president and chief executive. The split was designed to increase shareholder value, and many of the shareholders were company executives. Forbes 400 member S. Robert Levine has stayed decidedly unbusy since retiring in 1997, at the ripe old age of 39. Now that I have your attention'". In February 1983 Levine was a sales rep for a couple of cable companies -- including Montrose Products Co., founded by his grandfather and run by his father -- when one of his accounts, in the person of Craig Benson, told him about a company that needed 1,000 feet of Teflon cable immediately. He emerged with one less tooth and a concussion. And she thought her role in them was relatively minor. I dont know of another place like it, co-listing agent Barbara Scrivens of LIV Sothebys International Realty told The Post. Get this delivered to your inbox, and more info about our products and services. The limit, as he well knew, was $70. Cabletron's Chief Executive Plans to Step Down Sept. 1, https://www.nytimes.com/1997/08/07/business/cabletron-s-chief-executive-plans-to-step-down-sept-1.html. Such "box movers," as he calls resellers, have no incentive to excel at customer service. 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. S. Robert Levine looks every inch the executive you'd expect to find running a fast-growing $105-million maker of computer products -- right from the top of his head down to the tips of his shoulders. Cabletron was founded by S. Robert Levine and Craig Benson. Benson urged him to ease up. 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. The two devices, which cost roughly $200,000 to produce, represented Cabletron's first foray into manufacturing. The digs are hardly ritzy: partitions, steel desks, small cubicles. Many a growing company forgets the lessons of its earlier days. Don't miss the premier event for real estate pros. 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. By signing up, you will receive newsletters and promotional content and agree to our. The complaint was filed in March 2018 for allegations of "unsuitable investment recommendations, excessive trading and misrepresentation from February 2012 until December 2017." At Danbury, most of the women were drug offenders, but Spence taught English and got to know the inmates. The deal with the China-based company closed on Aug. 31 to make the quarter, but two weeks later the Rochester office contained problematic terms that prevented it from going through. Benson and Levine said Reeds international experience also attracted them, as the computer company tries to expand its overseas operations. It is just gorgeous out there with the purple-pink peaks, said Nobrega. C T Corporation System, agent, 4 Sep 2000 - Michael D. Myeraw, secretary, 19 Jan 1990 - S. Robert Levine . 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. "I've got to get going," he says, checking to see if the weather will accommodate his flight plans. "To tell you the truth, I can't stand not doing this.". 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. In a company press release, S. Robert Levine, the president and chief executive officer, said these results represented Cabletron's "thirty-second quarter of consecutive record growth, the strongest and steadiest earnings growth rate among all S & P 500 companies." These impressive numbers did not last. Last spring, Casson approached Levine and Benson about opening a subsidiary in Australia. "You gotta help me," he pleaded to Benson. It was what she calls the "big three": Kirkpatrick, Cabletron chief executive Piyush Patel and vice president Eric Jaeger. A 200-foot steel bridge leads out of the property and into the forest overlooking the forest and Rocky Mountains Sawatch mountain range. 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. Levine also owns 15 guns, which he has, on occasion, used to shoot up his own sprinkler system. ", However, in a larger sense, she said, "I knew what I did, and it was wrong. "That way, we didn't have to worry about hearing excuses from other people," says Chris Oliver, director of manufacturing and engineering. Official US Coast Guard photo, gift of Jeffrey and Mary Cole, from the . When customers called with problems, the only available equipment required shutting down the computer network -- testing customers' patience and often costing them money. With summers that last from April to October and mild winters, Palermo is a year-round destination. "I didn't want some venture capitalist coming in and telling us what to do," Levine says. But as it turns out, there was nothing frivolous about their partnership. . 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. 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 left Levine with 9,000 feet, which he needed to sell within 90 days, when his bill came due. A second complaint also seeking about $40 million in damages and involving the same broker is pending. Though hardly sentimental, Levine has held tight to the principle that rewarded Cabletron with such staggering growth: keep your promises, and customers will take care of the rest. The Cabletron culture August 6, 1997: 8:30 a.m. "I don't stop," says the 34-year-old. systems management software. Not wanting to sully their high-tech image -- or tie up inventory dollars in low-margin fare -- few computer companies supplied the cable. " Welts doesn't worry as much anymore. 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.. I can always stay a few minutes later. "I had heard about the people who had preceded me," he says. At times Benson giddily compared them to The Blues Brothers of movie fame. By 1989 Cabletron's factory was fully automated. The complaint was filed in March 2018 for allegations of "unsuitable investment recommendations, excessive trading and misrepresentation from February 2012 until December 2017." 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 . 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. Reed will resign from his post as president and group executive for When Michael Welts, marketing manager, was hired, in November 1989, he was thrilled but a little scared. They are guaranteed a response within five working days. I want to have influence over the philosophy, not over every piddling decision. 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. 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. The once-public Cabletron, a competitor to Cisco, had annual revenues at one point of more than $1 billion. With Cabletron stock trading at about $25 last fall, Levine and Benson's combined ownership was worth about $440 million. TimesMachine is an exclusive benefit for home delivery and digital subscribers. FINRA did not respond to a request for comment, while a spokesman for Bank of America Merrill Lynch declined to comment. [citation needed]. Six months later they had developed two products: one tested the cable, the other tested other network equipment. Don has contacts that will open doors for us that have never been open before, Levine said. Ken was CEO of then start-up NitroSecurity, a SIEM platform, before a successful acquisition by McAfee in 2011. Robert Levine, the founder the 1990s computer networking firm Cabletron . With Cabletron stock trading at about $25 last fall, Levine and Benson's combined ownership was worth about $440 million. 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. Please update your billing information to reactivate your membership. And there was Levine, who, as a kid, shot birds because they woke him up with their chirping. After making a pitch over lunch, one venture capitalist found himself doused in 7-Up. He must have felt like he was drinking from a fire hose," she said. He nearly hits his head on the picture hanging above him -- a sentimental shot of him and Benson outside a competitor's headquarters. She met her husband Luke Luacaw, the head of security for Levine. When the company went public, they gave away $2.3 million worth of shares to employees. Levine has no plans to start another company. "Get this," he'd brag to Benson, "I just made a 100% margin." When the company wanted to open a factory outside New England, representatives talked to a dozen economic-development boards before settling on Ironton, Ohio, on the border of West Virginia. In his place was his handpicked successor, Patel, who joined Cabletron when it bought his California networking company. As a pair, they looked comical: one short, one tall; one husky, one thin; one impulsive, one careful. external affairs and corporate communications at Nynex. But by the summer of 1984, Cabletron had moved into a 4,000-square-foot office in Ashland, Mass. He shared the title of Inc. Magazines Entrepreneur of the Year with his co-founder, Craig Benson, in 1991. 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. 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. ", 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. 2400 Casteel Creek Rd, Edwards CO, is a Single Family home that contains 30350 sq ft and was built in 2001.It contains 8 bedrooms and 16 bathrooms.This home last sold for $40,000,000 in November 2022. Family Dollar had always been a family company. 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. <br><br>Robert was the loving son of the late Charles and Mary (Reid) LeVine and grew up in Dorchester. Mr. Benson said Mr. Levine's unusual style had nothing to do with the decision to seek a new chief executive. And "if you use a flip chart, you don't belong here," he says. But, he notes, "I know what will happen if I relax at all. It would be wrong to present Bob Levine's need for speed as simply a strategic imperative. Mary was my life, my light, my love. Why, Oliver wondered, couldn't we incorporate several light-emitting diodes so that users could do more of their own troubleshooting? 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. 15 stories covering tech, special reports, video and opinion. The Ariel deal.". The house itself is a stylish mansion full of glass and stone. We want to hear from you. The CABLETRON SYSTEMS, INC. principal address is 35 INDUSTRIAL WAY, P.O. 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. Bob also hosts Mornings on Family Radio, a network of more than 70 radio stations in the US. But the thin ranks mean that some employees get pushed to their limits -- or beyond. Earlier in the session, it was up as much as $1.875 a share. times 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. "You can always do a little more. Cabletron Systems was a manufacturer of networking computer equipment throughout the 1980s and 1990s primarily based in Rochester, New Hampshire, in the United States. "They were present at the weekly meetings. So in November 1984 he decided to bring aboard someone who could untangle the rest. To keep costs down, Levine has hardly modified the telemarketing system that his brothers perfected back in his garage days. "I should have just said, 'You know what? Then, with his father's help, he located a banker, who, he says, "kept lending us money. In a company press release, S. Robert Levine, the president and chief executive officer, said these results represented Cabletron's "thirty-second quarter of consecutive record growth, the strongest and steadiest earnings growth rate among all S P 500 companies." It was a way to invest in companies and give them a leg up. But aside from that, there was more commonality than differences. Levine, 32, likes to confound expectations. Such big-company prerogatives as vice-presidents and massive meetings have no place at Cabletron. 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. Back then, Cabletron was not only the biggest thing in town, it was the biggest employer in the state. And since one or both of his legs always shake with nervous energy, you can't help noticing his giant ostrich-skin boots. Actor Robert Hays is doing a variety of things these days. 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. The owners plan to keep the remaining 180 acres of the parcel for themselves, listing agents told The Post. 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. Last summer Benson joined 40 employees for a Sunday boat trip. Cabletron was founded in 1983 in a Massachusetts garage by Craig Benson (who later became New Hampshire's governor) and Robert Levine. It was wild and wooly. "Everybody does it," she said Kirkpatrick told her. Kenahan has two pending arbitration claims listed on his BrokerCheck report, including one that has more than $42 million in alleged damages listed. "I'd sit in his car and find invoices between the seats," recalls Levine. ET. Stuart Robert Levine's Colorado Voter Registration. Levine, co-founder of Cabletron, is a pioneer computer-networking magnate noted by Forbes magazine. Analysts said Mr. Levine's departure was not entirely unexpected, in part because of Cabletron's disappointing performance recently and because his unconventional management style was less suited to a nearly $1.5 billion company than to a start-up. ''I went so far, when I was head of New England Telecom, as to take my team up to Cabletron to get a glimpse of what Bob Levine and Craig Benson were about,'' he said. In June 2014, 55 years after his father Leon had started Family Dollar . Self: Being Mary Tyler Moore. S. Robert Levine, the eccentric founder of New Hampshire-based Cabletron Systems, a 1980s and 1990s computer networking company, recently sold for $40 million a massive Colorado estate with its . The loans started at $50,000. But battering the company into submission won't work. 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.
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