Word: sunbeam
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Dates: during 1990-1999
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...being behind the disappointment, then you pick up the phone, or go to your computer, and turn that unrealized loss into a realized loss, pronto. My rule is simple: companies nailed or fessing up for bogus numbers can't be owned. Many never come back. Waste Management, HBO McKesson, Sunbeam--these were all worth booting the moment the accounting problems surfaced. Don't try to rationalize or waffle. Just...
...heyday in the early 1960s, 70% of practicing physicians were members, and the A.M.A. wielded enough political clout to rewrite Medicare laws. Now roughly 30% of physicians belong, and the organization has been dogged by bungled decisions, like the short-lived deal it made two years ago to endorse Sunbeam products...
...Among the findings: 59% of the student group did not view a person who has had oral sex as having "had sex," which could be seen as supportive of Bill Clinton. The firing is the latest in a string of controversies. In 1997 the AMA agreed to endorse Sunbeam medical equipment in what many saw as a conflict of interest. Last year it alienated conservatives by supporting a health-care proposal to make HMOs liable for malpractice. Lundberg's lawyer disparaged the group for interfering in the "inviolable ground of editorial independence" and said his client...
...compared to "Chainsaw" Al Dunlap. A West Point graduate and former paratrooper, Dunlap struck like Sherman and crowed about it. At Lily Tulip he fired 50% of the corporate office; at Crown-Zellerbach, 20% of the work force; at Scott Paper, 11,000 employees. After firing 6,000 at Sunbeam, Chainsaw himself got axed by a pair of fire-breathing shareholders: Ronald Perelman, never mistaken for Mr. Congeniality, and Michael Price, a.k.a. the "scariest s.o.b. on Wall Street"--at least to CEOs...
...management suited to the task at hand? "Chainsaw" Al Dunlap drove Sunbeam's stock up fourfold last year by doing what he had done so well at Scott Paper and other firms: slashing costs. But Sunbeam's share price collapsed when he tried to push the business's growth. Two weeks ago, when CBS tapped Mel Karmazin to be CEO, replacing Michael H. Jordan, CBS stock jumped. But it wasn't so much a bet on Karmazin as a sigh of relief that Jordan was leaving. Under Jordan, CBS has run last among the big networks. But can Karmazin...