Word: ceos
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...partly a response to the complexity of the deal, which calls for AT&T to bundle its consumer operations and TCI's cable systems into a new subsidiary, called AT&T Consumer Services that John Zeglis, who now serves as AT&T president, will run as chairman and CEO. The unit will issue a separate "tracking stock" that will let investors place bets on the consumer-related businesses of the new AT&T. A similar tracking stock already exists for Liberty Media, TCI's cable-programming arm, whose holdings include the Discovery Channel and Black Entertainment Television. Malone...
...media these days are awash in managerial pornography: adulatory profiles of the big-shot CEO, allegedly revealing the secrets of his success. The bookstores offer shelves of advice about how to be a successful manager. A middle manager with dreams, like so many others, of becoming an upper-middle manager reads the articles and scans the books looking for inspiration...
...help. Bromides and tautologies are common: Treat people like human beings, not automatons; cutting costs saves money. Self-contradiction masquerades as Zenlike philosophical balance: Never lose your temper, but don't be afraid to get angry. When they don't contradict themselves, these guides often contradict one another. One CEO succeeds because of his maniacal attention to detail. The next CEO's secret is setting broad goals and keeping her eye on the big picture. One CEO is glorified as a hyperkinetic workaholic. Another is praised for the wisdom of adopting a measured pace and leaving plenty of time...
When Stetson law professor Charles Elson joined the board at Sunbeam Corp. two years ago, the company's pugnacious CEO, Albert J. Dunlap, wanted him to think like an owner. So he insisted that Elson dig deep into his own pockets and buy $100,000 worth of Sunbeam stock. Two weeks ago, with the value of that stake fast eroding, Elson said, "You bet I looked at the company as an owner." So he and his similarly staked board mates moved fast to "Dunlap" Dunlap, sacking the job slasher whose name had become a Wall Street verb...
...rich. But he has lost more than $200 million on paper with his stock and stock options since Sunbeam shares began to slide last March, and his once vaunted reputation as a turnaround phenomenon is in tatters. That reputation is what landed him lucrative assignments, including previous stints as CEO at Scott Paper and Crown-Zellerbach, plus a high profile that he reveled in. It also put his book, Mean Business, on the best-seller list in 1996. That tome became a bible for those who followed Al's dictum that "the most important person in any company...