About this episode

The episode discusses Al Dunlap's controversial management style and the consequences of his aggressive turnaround strategies at Sunbeam.

They called him 'Chainsaw Al.' In 1996, Al Dunlap took over a struggling Sunbeam and did what he did best: he cut. He let go 6,000 employees and closed 18 factories. The stock price? It nearly quadrupled in less than two years. To Wall Street, he was a superstar. But the 'turnaround' was a house of cards. To meet impossible targets, Dunlap used 'cookie-jar' accounting and 'channel stuffing'—basically booking future sales today to hide massive losses. By 1998, the board fired him, ...

People in this episode

Host: Mark Gandy

Topics covered

• business turnaround
• corporate management
• accounting practices
• employee layoffs
• financial strategy

Keywords

• Chainsaw Al
• Sunbeam
• turnaround
• accounting
• employee layoffs
• financial strategy
• Wall Street

Mentioned in this episode

Organizations: Sunbeam

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