REV: MAY 31, 2007
HAROLD F. HOGAN, JR.
On October 6, 1995, Tyco International, a diversified U.S. conglomerate, received some very
unflattering news. A respected investor monitoring organization, the Council of Institutional
Investors (CII), had included the firm in its list of the 20 worst-performing S&P 500 companies. CII
generated its list annually, based on a mechanical formula that calculated total shareholder
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