it was revealed he bought a $6000 shower curtain using tyco funds.$6000 shower curtain? number two, he held a massive party for his then wife, $2 million taken from tyco funds and it was a drunken revel in the center of the ballroom there was an ice sculpture urinating vodka. the media got pictures of both items and he was ruined. >> the judge permitted that information to go to the jury which does not in inform the jury, inflames the jury. not only did he pay back every penny, he paid a fine of $100 million on top of the $134 million he paid back. who received it? the prosecutors who prosecuted him. that is reprehensible. the government did not suffer $100 million in losses to prosecute the case. stuart: i did not know it was that bad. on january 17 on parole. he served the maximum i think he was sentenced to 8.33 years. >> up to 25. he served just about eight. stuart: i didn't expect him to come out. >> neither did i. very interesting book. forgive me, don't remember the author. a journalist who had access too many insight documents. she started ou

neil: that's right. >> it seems perhaps therefore a pay dispute between kozloswki and the tyco board at the time that should have been settled between the parties, at worse taken care of through civil litigation. but this happened post enron just after enron imploded. neil: weird timing on that. >> a hostile environment. prosecutors were looking for the next enron. and the next high profile executive that could be prosecuted and held up as the scapegoat. i am afraid that is what happened in this case. it was a bad time for corporate executives, kozloswki was among highest paid at the time. it made him an easy target. neil: i am really esighted about this -- excited about this book, i hope you can come down when it comes out thank you it will be a page turner. >> thank you uneil. neil: all right to a former corporate titan who served hid time even after prosecutor failed to nab him. when fed got a hold of former health south ceo for a second trial they did t, they used his life style to make his point, he must be doing something wrong becausely had a lot of plenty to supposedly get hi

using tyco funds to bankroll a lavish lifestyle including $2 million toga party for his ex-wife on thelian island. those were the go-go days. page $6000 for single shower curtain. but his tentative release is now set for january 17. if he does not find employment he has to go back to the big house and is working on work release. we will ask about that tomorrow in a fox business exclusive to talk about his next stage of his life. we are watching the markets. the nasdaq turned positive yet again. will it hold? and will any other indexes follow? stay tuned, we're going to watch it right there with you. we will be right back. if you've got copd like me, hey breathing's hard. know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged

on tyco, it wasn't accounting fraud, it wasn't enron.le to move ahead once he was gone. >> when you deal with an emerson, he and ivan seidenberg, these are business people. they want to do the right thing. when they see someone pyramiding, and i'm going to use that word, they're like -- and the stock's going higher, their stock's doing nothing. the pressure! that was the towiga party. >> now that koz has been granted parole, what will his welcome home party look look? we'll get "six in 60" with jim after a break. that's remarkable that so much energy is, is wasted. streetline has looked at the problem of parking, which has not been looked at for the last 30, 40 years, we wanted to rethink that whole industry, so we go and put out these sensors in each parking spot and then there's a mesh network that takes this information sends it over the internet so you can go find exactly where those open parking spots are. the collaboration with citi was important for providing us the necessary financing; allow this small start-up to go provide a se

i won't tell what you the david was depicted doing, tyco paid for that too.ll serve parole. you know what's interesting about this story. it's so precrash, remember we were worried about corporate greed and using funds. and then the whole world fell apart. >> no $6,000 shower curtains in the slammer, though. christine romans, thank you so much. >> be right back. something to love... so join the loyalty program that lets you earn free nights in any of them. plus, for a limited time, members can win a free night every day. only at hotels.com ♪ you know, ronny... folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jimmy? i'd say happier than a bodybuilder directing traffic. he does look happy. get happy. get geico. fifteen minutes could save you fifteen percent or more on car insurance. >>> welcome back, everyone. a brooklyn-born rabbi is taking his case to a higher authority. getting a hearing before the supreme court. he's challenging a decision by delta and northwest airlines to drop him from their frequent flier pr

i think he messed up on his timing. >> tyco is now a bad word at the company.ivity came on cnbc a few weeks ago and said there's a jar you put a coin in any time someone says tyco around the office. >> incredible. as of january 17th he'll be free. bertha coombs will continue to follow that story for us as well. much more ahead on today's market. first, though, courtney reagan joins us now with some breaking news on jcp. >> just getting word here from jcpenney of its november same store sales for the month of november, up 10.1%. that is very strong growth out of jcpenney. we know they've suffered a lot of trouble in october. they did see some positive same store sales for the first time in over a year. i don't have the comparison right here. we have not seen this strong of growth for jcpenney up 10.1% for november. this does include that black friday weekend, so it's november 30th which is through saturday of this past weekend. back to you guys. >> all right. 10% comp. if we can, i want to throw this out for the panel to react to. dan, we knew the jcpenney story

. >>> remember denise, the former ceo of tyco? he's famous for other successes, buying a $6,000 shower curtain with company money. after suerving the minimum 8 years, he was granted parole today. she's scheduled to be released on january 17th. >>> finally tonight, the publishing industry is banking on a hit this holiday season. command authority is the final work in the late author time clancy. it hit shelves today but will it be enough to give the blockbuster it desperately needs. julia boorstin joins us with the story. >>> the book industry is in trouble. physical book sales fell more than 7% and everyone digital book sales expected to be publishing savior declined 5%. last holiday season accounted for about 20% of annual sales. so this holiday season, the pressure is on. >> like all retail businesses, it's critically important for authors, publicers, book sellers, important for the physical book sellers. >> the period between thanksgiving and christmas is the busiest time of year. >> we give books the challenge we have is most

ex-tyco ceo dennis kozlowski will be set free prison january 17th after spending 8 years behind bars for corporate fraud. and, some abercrombie and fitch shareholders are making a pitch for the retailer to consider a ceo change as the store loses popularity. larry shover of sfg alternatives joins us now for a closer look at today's trading action. good morning to you larry. > >good morning. > >the market is now in a steep slide. how are traders reading that? > >differently than they were before. i think it was prerogative for traders to think that we're just gonna rally because every december we do that. but on the other hand, traders also are recognizing that we have had 8 consecutive weeks on the upside. so maybe just some healthy consolidation is in order here. > >how much of this has to do with the possibility of the fed tapering? we had that big jobs number everybody's focused on. what do you think is happening? > >i don't think a whole lot has to do with tapering. right now people understand that tapering isn't tightening. and the market has priced in the fact that we're going

finally after spending more than years in jail, tyco chief executive will be getting out of jail. once dubbed the poster boy for corporate greed, he was kwkded for stealing more than $100 million. his spending included a $2 million birthday party in 2001 for his then wife and who could forget the 6,000 dollar shower curtain. the executive will be released in january. >> thank you so much. we are celebrating the holidays here today talking about authentic italian food to a world of different foods. the chef joins us for a dish that would make your holiday dinner a lot better. and what are we making today? >> we will make -- a dumpling without the dough. >> let's go for it. >> it's a nice ricotta and spinach and parmesan. we are going assemble it all together. >> that's the ricotta? >> we have the spinach? >> it looks like it has been through something. >> and then we have the parmesan and you can also have a hint of nutmeg. that's good. a pinch of salt. not too much. a little flour. >> regular flour? >> regular flour for that. you want to help me out? i will hold it and you mix it.

. ♪ liz: former tyco's ceo was once as the poster child for corporate greed.he late 90's and early 2000's because he threw lavish parties, spent money on items, $30,000,000.5 avenue apartment to a $6,000 shower curtain. it turned out the money was not really his to spend. he landed in 8-25 year prison sentence for stealing. well, he has since paid 1,304,000,000 in restitution. and another 105 million in fines. on tuesday after other attempts which were rejected he was granted parole after you serve the minimum sentence of 100 months. out as early as january 17th. his attorney from carter never gave up, worked tirelessly and is here exclusively right here on fox business. what was that moment like when you heard that the parole board it said granted. >> it has been a long road, but obviously this is the time to be gratified to the parole board. they give careful consideration at this hearing. they recognized it is an exceptionally deserving candidate for parole. i am thrilled that he has been granted parole. i cannot imagine there is anyone deserves a more than

>> visiting spun off from tyco, this is another recurring revenue business following the same path as directv leveraging up at low rates and buying back their stock. -@david: they did not pay off ts year, you expected them to. why didn't they pay off this year? >> there is this new growth opportunity in home automation to turn on your lights, turn on your heat, unlocked doors and adp is a leader in that. some of the hardware companies as well. there is a potential for some competitive pressure to commence this market. the market is worried about it. liz: looking at the volatility index which gave people a little bit of conversation yesterday because it touched 15 and pulled back, but we're still seeing it in the high 14. does it continue to be a great indicator of when people should buy and sell stocks? >> it really derived from the options trading and when it is going down people are selling options which means they are comfortable and complacent which they think the market will continue to go higher. it is really no reason to panic. not even above the 200 day moving average. you can

congress and signed by president bush following the last big round of corporate scandals involving enron, tyco, and worldcom. it was supposed to restore confidence in american corporations and financial markets. the sarbanes-oxley act imposed strict rules for corporate governance, requiring chief executive officers and chief financial officers to certify under oath that their financial statements are accurate and that they have established an effective set of internal controls to ensure that all relevant information reaches investors. knowingly signing a false statement is a criminal offense punishable with up to five years in prison. frank partnoy is a highly regarded securities lawyer, a professor at the university of san diego law school, and an expert on sarbanes-oxley. >> the idea was to have a criminal statute in place that would make ceos and cfos think twice, think three times, before they signed their names attesting to the accuracy of financial statements or the viability of internal controls. >> and this law has not been used at all in the financial crisis? >> it hasn't been used to

a new york state parole board agreed to release former tyco ceo dennis kozlowski on parole. you may remember, kozlowski served prison time, years and years for his conviction in 134 million-dollar fraud case. he paid back all of the money and more. a spokesperson from the corrections department says dennis kozlowski's release is scheduled for january 17th. i interviewed him a couple years back, david in out tick a at the prison where he was for many years. he was telling me year after year he would watch murderers come in and serve less time than he did. of course he was that so-called, poster-child for corporate greed back in the late '90s. and a lot could be said about the fact that people believed that in some cases his board had actually signed off. david: but clearly he was ripping off a lot of stuff. he was one with those shower curtains worth $6,000 and the umbrella stand for 20,000. i mean the fact is this guy did rip off people. that is why he was in jail. but he is getting out. we have pretty good connections with him. might want to keep it in on fbn. neil cavuto i

we had the tyco. now they're just te. >>> the tis the season to talk retail. inventories are expanding faster than retailers want. the the paper says abper com by and fich, gap, victoria secret acknowledge inventory numbers are rising. they call those proipt. an analyst argues inventories are rising faster than sales. a retailer yesterday said he's cautious with his brands lane bryant, justice. he said he's not optimistic about consumers bouncing back at the beginning of next year. >> the other one was bigger than lane bryant or justice. >> justice is pretty big. >> is it? >> it is in our household. it's for tween girls. >> the other was a big lady. dress barn. that's right. that's the one that founded it. >> that's big. >>> as we a wait the report, 8:15 we get it this morning. let's get an outlook on the economy and what moves the feds might break. bruce is editing director and chief economist. chairman and ceo of millstein is going to fix detroit and chicago for us this morning. will you think about that? >> i'm working on it. >> you should know how to do th

former tyco executive, dennis kozlowski has been granted parole here in new york.that $2 million toga party for his wife. he said he was living in a ceo bubble that allowed him to rationalize all he did. >>> and near philadelphia, police are looking for this bridge, caught on camera, no less, helping herself to holiday donations set aside for needy children. she swiped the items from a toys for tots box, before casually strolling off. if this woman was in a financial bind, they would have helped her. the philly police. friends of samuel j. and here to present him with a special plaque. but i love recognizing philly's finest. >>> finally, instead of toys, no surprise here. kids are asking santa for an ipad this year. look at what your child might do with one. we sped this up. kyle lambert spent 200 hours using the finger painting app. this is not a photo. >> no way. >> this is a painting. >> wow. >> yeah. merry christmas to us all. >> wow. >> yeah. >> that's incredible. >> uh-huh. it's remarkable. >> that's morgan freeman. that looks perfect. >> you can do pictures

s >> in berlin, former russian tyco tycoon mikhail khordorkovsky is holding his first press conferencence being released from prison. he said he will not enter politics. >> world leaders, including president obama, secretary-general ban ki-moon are calling for an end to violence in central african republic. >> a train crash in kenya's capital injured six people. the kenyan red cross said dozens of others may be trapped in wreckage. the train came off its tracks in a city slum home to a quarter million people. >> this is day three of the christmas family vacation. before the president left for the sun and sand he faced tough quefkes in a news conference. al jazeera's correspondent has the story. >> president obama and the first family are hoping for an uninterrupted 17-day vacation in hawaii. it's the sixth time the president and his family returned for holidays. >> has this been the worst year of your presidency? >> i got tell you that's not how i think about it. >> the president went into damage control mode at the end of the year press conference, highlighting the improving economy.

. >>> remember former tyco ceo?onvicted of stealing more than $100 million from the company because of his lavish lifestyle. now he has been granted parole. after an at it-year sentence. but on one condition, he has to find a job. >>> an unusual family aware, unfolding in north korea. the uncle of the country's leader has been removed from power. why some see it as a seismic shift for that country. >>> plus a first class confrontation, a frequent flyer suing an airline. a case that has made its way all the way to the supreme court. >>> and a shocking discovery at the bottom of the ocean a man was trapped in a sunken boat for three days. >>> the new york yankees agreed to terms with a boston red sox all-star and they gave him a lot of money. we'll have the details. >>> and taking you live to denver where the roads are covered in snow, it's 7 degrees, and that snow will continue to fall throughout the day. ♪ agree to anything in washington no matter what. >> antonio mora, award winning and hard hitting. >> we've heard

. >>> other stock stories include tyco.ong the suitors for having -- which have placed initial bids for the security systems unit. that business is valued at about $1.6 billion. >>> and the "wall street journal" reports that the private equity firm is said to be looking for the $1 billion for the gun business. it doesn't get offers that met the expectations. the new investments would value that business at about $1.2 billion. >> remember, it tried to sell -- it's been trying to sell the business for a long time since sandy. >> since a year ago. >> yeah. yeah. >> sandy hook. >> sandy, then people get confused. >>> we have a great interview here. we're talking to the head of one of the largest u.s. mid-size commercial banks in the country. joining us is city national. does that get confused a lot? >> it's actually fading away. that's gone. thank you. >> this is pnc now, right? >> it is pnc. we keep talking about the taper. you're living with it. what does it mean? >> i think it's going to be a positive sign. and you guys have