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Chainsaw: The Notorious Career of Al Dunlap in the Era of Profit-At-Any-Price
ProductGroup: Book Binding: Paperback Similar Items:
ASIN: B000HWYNYU |
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Al Dunlap was so ruthless in downsizing corporations for short-term shareholder profit that he earned nicknames such as "Chainsaw Al" and "Rambo in Pinstripes." Wall Street loved Dunlap at Scott Paper, where he laid off thousands, but then hated him at Sunbeam, where he himself was finally fired. Chainsaw, by Business Week writer John A. Byrne, dramatically documents the rise and fall of Dunlap, the havoc he wreaked on companies and people's lives, and how he came to power in the first place."Chainsaw Al was a creation of the Street and its ceaseless lust for profit at any cost. He came of age when the market routinely rewarded layoffs with lofty stock prices. The more people he tossed out in the street, the higher stock values went," writes Byrne, who cites "cutthroat investors" such as Michael Price and Ronald Perelman for helping Dunlap's rise. Superbly written and researched, the book vividly describes characters and scenes, and reveals the fictions that Dunlap told about himself. How cold was Chainsaw Al? Byrne writes that Dunlap never even attended the funerals for his mother and father. Byrne also tells the story of the questionable accounting and business practices that ultimately brought down Sunbeam and Dunlap, and the investigations that led to a restatement of the company's finances. Dunlap, unhappy about Byrne's reporting, once said of the Business Week writer, "If he were on fire, I wouldn't piss on him." It's a quote that Byrne uses to kick off his last chapter. Chainsaw is a compelling read for those interested in the inner workings of Wall Street and business, or just a well-told story. --Dan Ring
Book Description
At once praised as the darling of Wall Street and condemned as the foe of the working people, business executive Albert J. Dunlap--"Chainsaw Al"--is clearly one of the most controversial figures in American business.
This is the story of Dunlap's rise and fall. It reveals a notorious career that left a wake of fired employees, shuttered plants, devastated communities, gutted companies--and, often, enriched shareholders.
First breaking into the headlines with his draconian, expense-slashing firings at Scott Paper--and the subsequent boost in the value of the company's stock--his legend grew as he took on the task of turning around troubled Sunbeam Corporation. There, at the height of his career, Dunlap became a household name, lauded as the hero of the American investor and role model for managers.
But the darker side of the Dunlap legend began to emerge as questions arose about his methods and motivations. Was he selling out the company's future for quick, short-term gains? Did his plant closedowns make business sense, or were they done to impress the Wall Street analysts? Were his massive restructuring improving the company's competitiveness or just inflating the value of the stock and his own net worth? Was his harsh treatment of employees a justifiable business tactic or the symptom of egomania?
Eventually he is brought down by the virtual collapse of Sunbeam, investigators of accounting and business practices, and the subsequent restatement of Sunbeam's finances. As Chainsaw makes clear, Dunlap's relentless and destructive drive for profits is symptomatic of our times and Wall Street's insatiable greed.
Written by John A. Byrne, the distinguished Business Week journalist, Chainsaw reaches deep inside the world of business as it's practiced today. It's filled with players you'll recognize from the business headlines. And, throughout, you're a fly on the wall, witnessing the conversations and dramatic moments--everything from Dunlap's first get-together with Sunbeam executives, where he humiliates each of them in turn, right up to the last board of directors meeting, where he is fired. You'll meet Michael Price, whose mutual funds owned a large piece of Sunbeam and to whom Dunlap ultimately owed his job. Also present is Ron Perelman, the billionaire financier and chairman of Revlon, whose sale of camping equipment maker Coleman Co. to Dunlap eventually helped lead to Dunlap's fall from grace.
Chainsaw, finally, is about the mad pursuit of wealth in the last decade of the century. Loaded with implications for everyone with a stake in American business, Chainsaw will be to the 1990s what Barbarians at the Gate was to the 1980s.
Customer Reviews:
12 years later still worth reading!.......2007-05-08
A difference between tough and cruel.......2002-08-06
"Chainsaw" chronicles the rise and fall of "Chainsaw Al" Dunlap so compellingly that even those who wouldn't think to read a business book will be hooked. However, the book is in many ways fascinating the way that a car wreck is fascinating. The reader will marvel at the amount and intensity of abuse Dunlap hurls at even his closest friends and allies, the coldness with which he treats his family (he abandoned his son at age 2 and couldn't be bothered to attend the funerals of either of his parents), and the near-perverted bounds of his ego. In fact, as Sunbeam lurches toward collapse, his only apparent interest was in signing copies of his autobiography.
Defenders of Dunlap will say that he did the dirty work of downsizing and layoffs to save dying companies, sacrificing the needs of the few for the good of the many. And true, the modern business world is filled with harsh realities and tough decision-making. But Dunlap's approach to downsizing in "Chainsaw" teeters between indifference to those downsized and pure sadism. At points in the book, he actually seems to enjoy cutting jobs and closing factories (though he usually had others do the dirty deeds). As the author says, there is a business world between being tough and being cruel -- and Byrne leaves little doubt about where he places Dunlap. Worse, Dunlap's moves at Sunbeam didn't seem to have been done with any level of intelligence, other than to get Dunlap a quick win so he could cash out fast. The result was the near-total destruction of Sunbeam rather than long-term gains from short-term pain.
In "Chainsaw," Byrne stresses that either through fear, greed or naivetee, others enabled Dunlap. The way that each of these characters is drawn creates a fascinating if morbid portrait of a dysfunctional, cannibalistic organization revolving totally around Chainsaw Al.
Byrne is a terrific writer, and "Chainsaw" is a great read. My only quibble is that, since Byrne and Dunlap apparently have had great animosity toward each other, Byrne often sacrifices any attempt at objectivity. But perhaps objectivity isn't possible when chronicling such an extreme personality.
It's good to see "Chainsaw" returning to print in paperback. Now, in the era of Enron and WorldCom, Sept. 11 and the War on Terror reminding us what real toughness is all about, and with the Wall Street euphoria of the '90s in the rear-view mirror, its perspective is needed now more than ever...
If You Think You Work For A Jerk..........2002-04-03
Chainsaw primarily chronicles Chainsaw Al Dunlap's rocky two year tenure at Sunbeam Corp., where he closed numerous plants, fired almost half of its employees, ran roughshod over the half who remained, heaped more praise upon himself then the most conceited athlete or movie star and pretty much ran the company into the ground.
The author, John Byrne has spoken to several hundred people who have dealt with Dunlap's rage and unrealistic expectations and has been able to piece together a non-fiction work that reads like a novel. Significant amounts of dialog between Dunlap and his cronies are displayed and it basically says one thing. Chainsaw Al Dunlap ruled through total intimidation and with the exception of his right hand man, listened to nobody but himself, even though he had no experience with the products that Sunbeam sold. He fired (or actually had somebody else fire) everybody who didn't appear to him to be part of the team. Byrne perfectly sets out the tension that occurred when Dunlap was on a rampage.
The reader gets to see the desperate measures a company will go through to try to meet investor and Wall Street expectations, including accounting games which have come to the forefront as a result of the Enron debacle. I'm not an accountant, but I even have to admit that things they did were pretty shady.
Byrne wraps the book up with the final straws that led Al Dunlap to go down in flames at Sunbeam, ending in his firing at a secretive board meeting in New York City. I see that a paperback version is coming out soon, which I hope will bring the story of Dunlap up to date, including his required payment to a trust fund to settle civil lawsuits against him.
Byrne's only fault is that he is not totally objective. It's easy to tell that he despises Dunlap (he calls him a loudmouth, comments on the large size of his teeth, attacks his love of his dogs over everything else), so I knock the rating to four stars, but it's still a pretty good business case book. Bryne would be a great candidate to writeup the Enron story as he does have a way with story telling and research.
Fascinating story with one flaw.......2001-06-22
Byrne writes very well. Many business writers tend to get bogged down in detail when writing a book (as opposed to a small article) or get distracted or get stuck in flashbacks. Byrne does none of these and keeps your interest level high throughout.
If I have one gripe with the book (which is why I give it 4 rather than 5), its that it relies too much on people who dislike Dunlap or were trying to shift responsibility to him. Yes, the man is an egoist, a hypocrite, a braggart etc. But its a little hard for me to believe that every bad business decision at Sunbeam can be traced to Dunlap (or his consultants), and it seems to me that at least some of the other managers are trying to shift responsiblity to Dunlap on occasion. Also, Dunlap's attitude at Sunbeam was wrong in most ways -- still the company itself was unhealthy when he came in. The original management deserves at least some blame for the pre-Dunlap situation.
Similarly, a number of people in the book claim that they were always skeptical of Dunlap's business skills. Maybe after the Sunbeam collapse -- but I find it hard to believe they were all skeptical initially. Example -- an analyst claims that he doubted the Sunbeam turnaround story from the beginning, but he still kept on churning out positive reports on Sunbeam for his securities firm.
Corporate Hellhole.......2001-04-03
We've all had bad bosses. Very few of us have not had the joy of working for a barbarous, bullying taskmaster that makes you dread Monday mornings.
Then there's Chainsaw Al Dunlap. Think of the most egotistical, arrogant, selfish, greedy, low-class and verbally abusive manager from hell you can think of. According to John Byrne's "Chainsaw: The Notorious Career of Al Dunlap in the Era of Profit-At-Any-Price", Al Dunlap is all of these things, and maybe more. He makes Mr. Dithers look like Richard Branson.
Flying the pirate flag of cost cutting, Chainsaw Al made his name rampaging through companies as a high level executive in the 1980s. He cut thousands of jobs and closed factories in the blink of an eye. During his reign of terror, Dunlap became the scourge of those with a corporate conscience while becoming the darling of investors and a media icon.
It wasn't until the mid to late 90s that the financial world got wind of what "Rambo in Pinstripes" was up to. As CEO with Scott and then Sunbeam, Chainsaw ate the heart out of both companies, allegedly falsified financials, and wooed Wall Street to pretty them up for a quick sale. Chainsaw would pocket millions while thousands of regular working stiffs were out of jobs- many after decades of service.
It's the Sunbeam debacle that Byrne documents in "Chainsaw" and boy what a fun ride. From Dunlap screaming and shouting at his bewildered executive staff at his first meeting to the apocalyptic crash from $50 to $5 a share, you get to see and hear it all. The author does an excellent job of recreating what life working for the guy must have been like, and it is obvious that he did very careful research.
Talk about a corporate nightmare. Dunlap, in his pinstripe suits, tinted glasses, dyed blonde hair and very loud voice would arrogantly hand out copies of his autographed book "Mean Business" and scream at anyone that told him anything he didn't want to hear.
My favorite scene is Dunlap is yelling one of his staff. He begins his tirade by telling his victim to be quiet and not to utter a word. After piling on the poor sap, he asks if he is going to respond to his accusations or just sit there silent. The executive reminds Al that he wasn't allowed to talk during the meeting.
"Shut up!" bellows Dunlap, "You don't deserve to speak!" Priceless! Suddenly Gordon Gekko is Ghandi!
"Chainsaw" kind of plods at first as you are barraged with a cast of characters that you quickly lose track of. But time and again Byrne pulls you in with great narratives. For instance one scene depicts the dark side of Darwinian capitalism: the financial travails of a former laid off Sunbeam employee contrasted with a description of Big Al negotiating a new multimillion dollar contract over an expensive steak dinner.
By the second half of "Chainsaw", you are hooked. Wall Street catches on to his shenanigans, and Sunbeam quickly spirals out of control along with our anti-hero.
Besides way too many players, my only other problem with "Chainsaw" is a section devoted to his ill-fated first marriage and the treatment of his only son. The author uses divorce testimony to imply Dunlap abused his first wife, and interview quotes revealing he abandoned his son. We also learn that Dunlap didn't even go to his father's funeral. This is tricky ground. Whether or not this is true, the author already makes a good case that the guy was a creep without having to include so much of his personal life. And, as the saying goes, there are two sides to every story (in Byrne's defense, Dunlap refused to cooperate with the book, but still).
There are other instances where you can really feel the author's venom. Byrne covered the subject in several articles for "Business Week" and reveals a deep personal dislike for Dunlap. He even refers to him as a "loudmouth" and makes other nasty remarks. It may or may not be well deserved, but these comments and the personal detail make John Byrne border on being as mean-spirited as Chainsaw himself.
This is a terrific read, and is definitely a business model for NOT how to manage a company. In the same vein, I also recommend the educational but more tedious "Apple: The Inside Story of Intrigue, Egomania and Business Blunders" by Jim Carlton, and "Trumped" by John O'Donnell.
If nothing else, "Chainsaw" will definitely make your crummy job seem a lot easier!
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Chainsaw: The Notorious Career of Al Dunlap in the Era of Profit-At-Any-Price
John A. Byrne Manufacturer: Collins ProductGroup: Book Binding: Paperback ASIN: B000OFASL2 |
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Chainsaw: The Notorious Career of Al Dunlap in the Era of Profit-At-Any-Price
John A. Byrne Manufacturer: Collins ProductGroup: Book Binding: Paperback ASIN: B000OFDPEE |
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There are many people who are refugees of the corporate world. They experience the business environment as a chaotic, unnatural, unhealthy place that they escape from every weekend. They long for the time when they can retire to the Bahamas and only THEN begin to recover their relationships with their family, their personal values, and their sense of peace. It doesn t have to be that way. It is possible to be successful in a job with high pressure and high expectations without sacrificing your tranquility, your marriage, family and friends, or your sanity.
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David F. Smith Manufacturer: Routledge ProductGroup: Book Binding: Hardcover ASIN: 0415235324 |
Book Description
A range of important case studies from pasteurization in Britain to the E coli outbreak offers new material for those interested in science policy and the role of expertise in modern political culture. This book examines the twentieth century history of key aspects of this contemporary debate, including the relationship between food and science,the character of food policy, and the role of business in shaping or constraining new policies.
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Therese M. Donovan , and Charles Welden Manufacturer: Sinauer Associates ProductGroup: Book Binding: Paperback Similar Items:
ASIN: 0878931562 |
Book Description
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Customer Reviews:
Now available as a free download..........2007-09-13
Program a model from scratch.......2002-02-13
Each spreadsheet exercise provides a list of objectives, background material, and annotated step-by-step instructions (Windows and Macintosh) for creating a model on a given topic. Students then examine how various parameters affect model outcomes and, through a set of guided questions, are challenged to develop their model further. In the process, they become proficient with many of the functions available on most spreadsheet programs and learn to write and develop their own macros.
Spreadsheet Exercises in Ecology and Evolution and Spreadsheet Exercises in Conservation Biology and Landscape Ecology can be used independently as the basis of a laboratory course, or can supplement a variety of texts. The target audience is undergraduate and beginning graduate students.
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Ina Garten Manufacturer: Potter Style ProductGroup: Book Binding: Cards Similar Items:
ASIN: 1400045762 |
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With their delicious images and recipes, these lovely note cards are a pleasure to mail, share, and keep. The fold-Out format features a full-color photograph and recipe; the backs of the cards are blank so you can write a quick note to a friend and share a cooking tip.Customer Reviews:
Why haven't I received my book?.......2007-04-04
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Book Description
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Glossy and Forgettable.......2006-11-09
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Want a good start in your animaton career? Here's one........2006-03-01
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