Who Was Chainsaw Al?

Albert J. Dunlap, a tough-talking executive whose ardor for turning around troubled companies by laying off workers and closing factories earned him the nickname Chainsaw Al, died in January. He passed away at the age of 81.

What happened to Al Dunlap?

There will be death. Dunlap died at his home in Florida after a brief illness. He was a major donor to Florida State University. His wife Judy and son Troy are still with him.

Was Al Dunlap a psychopath?

His reputation as a cutthroat corporate leader did not go away. Dunlap wrote that certain psychopathic traits were redefined as “leadership positives” and that he wrote off his time at Sunbeam as a “low point” in his career.

Why did Sunbeam hire Al Dunlap?

Albert Dunlap was hired by Japonica to be the CEO of Sunbeam Corporation in order to increase the value of the company prior to the IPO.

What happened to Kersh?

He was fired as Sunbeam’s chief executive in 1998 after the company’s stock price sank and sales plummeted amid allegations of fake accounting. Jeffrey Tew said that Kersh didn’t profit from his shares.

What did Al Dunlap do?

Dunlap, known as Chainsaw Al, passed away at the age of 81. Albert J. Dunlap was nicknamed “Chainsaw Al” for turning around troubled companies by laying off workers and closing factories, but his career ended in an accounting scandal.

Why do psychopaths make good CEOs?

It’s an irrational act to start a company and that’s why psychopaths are so common as CEOs. You have to be willing to sacrifice a lot for success in order to be uncompromising in your vision.

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What percentage of Fortune 500 CEOs are psychopaths?

According to some estimates, between 4% and 12% of CEOs have psychopathic tendencies, which is more than the 1% rate found in the general population and more than the 15% rate found in prisons.

What did Sunbeam do wrong?

There was a sale of parts inventory that Sunbeam did not recognize revenue from. In the fourth quarter of 1997, Sunbeam recorded $11 million in revenue and almost $5 million in income from a “sale” of its spare parts inventory to a fulfillment house that didn’t comply with GAAP requirements.

What was the Sunbeam scandal?

The suit was filed in federal court in Miami and stated that the turn around was a sham. The S.E.C. said that the executives created a fraudulent scheme to create the illusion of a successful restructuring of the company.

How did Sunbeam create revenues?

What happened to the revenues created by Sunbeam? The revenues were created by using a bill and holding practice. The company was able to hold onto the shipments with an agreement to deliver them later.

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