Chainsaw Al Dunlap Cuts His Last Deal
$500,000 to settle charges of accounting misdeeds at Sunbeam is small change. Even a lifetime ban from a top corporate job is mostly symbolic
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By John A. Byrne
When Albert J. Dunlap became chief executive of appliance maker Sunbeam Corp. in July, 1996, he was a legendary turnaround artist, lauded as the hero of the American investor and a role model for managers everywhere. Just the announcement that "Chainsaw Al" was joining Sunbeam caused its stock to rise by nearly 60%, at that time the largest one-day jump in the history of the New York Stock Exchange.