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BUSINESS
By Phyllis Brill and Phyllis Brill,Sun Staff Writer | January 27, 1995
Sunbeam Plastics Corp., an Evansville, Ind.-based maker of tamper-resistant bottle caps, will build a multimillion-dollar manufacturing plant in the Riverside Business Park in Harford County, County Executive Eileen M. Rehrmann said yesterday.Mrs. Rehrmann said Sunbeam's agreement to build the plant resulted from an incentive package created by county and state economic development officials. The package includes a $470,000 community development block grant and up to $150,000 in county property tax credits to the manufacturer.
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BUSINESS
By Susan Harrigan and Susan Harrigan,NEWSDAY | May 17, 2005
Billionaire financier Ronald O. Perelman stands to become even richer after a jury verdict yesterday in his fraud case against Morgan Stanley, the nation's second-largest securities firm. A jury in a Florida state court awarded $604.3 million in compensatory damages to Perelman, chairman of Manhattan-based Revlon Inc., whose net worth was estimated at $4.9 billion by Forbes magazine in a recent report on the world's wealthiest people. Perelman accused Morgan Stanley of defrauding him for the sake of earning investment banking fees when it advised him to sell his 82 percent stake in camping-gear maker Coleman Co. Inc. to Sunbeam Corp.
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NEWS
By Glenn Small and Glenn Small,Sun Staff Writer | June 25, 1995
A $20 million factory that will make plastic packaging materials will not open this year as planned at Riverside Business Park in Harford County because of internal delays encountered by the Indiana-based company building the plant.Instead, Sunbeam Plastics Inc. plans to begin construction of the 89,000-square-foot manufacturing plant in August or September, finish it by March and have the plant fully operational by next July 1.When Harford County Executive Eileen M. Rehrmann announced January that Sunbeam would move into the county, she said the plant would be open by the end of this year, possibly by October.
BUSINESS
By JAY HANCOCK | January 9, 2005
WILLY LOMAN didn't have to die. The loser protagonist in Arthur Miller's Death of a Salesman kills himself after missing sales goals, but he might be living in a McMansion and driving a Lincoln Navigator if he were working for the likes of Kmart or Krispy Kreme Doughnuts. They're the latest companies to be accused of "channel stuffing" - plumping up one quarter's results by counting sales that might properly be booked for the next. The allegations may or may not be proven, but they suggest that channel stuffing is here to stay - Sarbanes-Oxley and the Financial Accounting Standards Board notwithstanding.
BUSINESS
By Sean Somerville | November 17, 1996
ON TUESDAY, Sunbeam Chairman Albert Dunlap lived up to his nickname of "Chainsaw Al" when he announced he would cut about 6,000 of the company's 12,000 workers, close 39 of its 53 plants and other facilities and eliminate 10,000 products -- nearly nine of every 10. The executive also said he would restructure Sunbeam within 45 days and double its sales to $2 billion by 1999.Dunlap has tried this strategy before: as chief of Scott Paper, he laid off more than 10,000 employees and sold more than $2 billion in assets before selling the company to Kimberly-Clark.
BUSINESS
By KNIGHT RIDDER/TRIBUNE | January 15, 2002
Despite staunch denials of wrongdoing while head of Sunbeam Corp., Albert J. "Chainsaw Al" Dunlap has agreed to pay $15 million to settle a class-action lawsuit brought by shareholders who accused him and other former executives of manipulating the company's financial results. As part of the same suit, shareholders received $110 million in a May settlement with the accounting firm Andersen. Shareholders alleged that the firm - formerly Arthur Andersen - lied and misled them about the financial condition of Sunbeam.
BUSINESS
By KNIGHT RIDDER/TRIBUNE | November 4, 1998
CHICAGO -- A federal judge in Chicago gave the American Medical Association two weeks to come back with a list of reasons why its settlement with Sunbeam Corp. should be closed from review by another medical group.For the time being, U.S. District Judge Harry Leinenweber's ruling yesterday keeps alive efforts by the Tucson, Ariz.-based Association of American Physicians & Surgeons' effort to get access to documents that were part of the Chicago-based AMA's legal dispute with Sunbeam.The Association of American Physicians & Surgeons is best known for successfully suing President Clinton's task force on health care reform to discover who was on the task force -- led by Hillary Rodham Clinton -- and what kind of information was being gathered, in order to determine if any special interests were involved, the association's executive director, Jane Orient, said.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | March 3, 1998
Sunbeam Corp. yesterday announced plans to buy three companies for $2.5 billion -- deals that analysts said appear to rule out a purchase of Towson-based Black & Decker Corp."
NEWS
May 24, 1995
POLICE LOG* Scaggsville: 6300 block of Last Sunbeam Place: Someone took tile and mortar from a house under construction Friday, police said.
BUSINESS
By JAY HANCOCK | November 25, 1996
IF "Chain Saw Al" Dunlap did not exist, Wall Street would have to invent him.Jerk, ogre, fiduciary Philistine, able to double small stock prices with the wave of a pink slip, Dunlap embodies both the alleged meanness and the swollen expectations of today's corporate overseers.The stock levitation at Sunbeam Corp., Dunlap's latest project, seems as bizarre to some analysts as Dunlap's persona as a turnaround troll.Item: Since Dunlap's July arrival as chief executive, Sunbeam stock has risen 133 percent and now sells for more than 100 times this year's projected profits and for 23 times next year's estimates.
BUSINESS
By BLOOMBERG NEWS | September 10, 2002
NEW YORK - Sunbeam Corp. said the Justice Department is investigating former Chief Executive Officer Albert J. Dunlap's management of the company, as the largest U.S. maker of small appliances revised its bankruptcy recovery plan. The U.S. attorney's office in Manhattan is investigating events at Sunbeam from 1996 through 1998 while Dunlap was chief executive and Russell A. Kersh was chief financial officer, the company said in a bankruptcy court filing late Friday. Boca Raton, Fla.-based Sunbeam said the U.S. attorney hasn't told it the specific direction of the investigation.
BUSINESS
August 10, 2002
In the Region Flight attendants ratify give-back at US Airways US Airways flight attendants ratified a contract with the ailing airline yesterday, giving up $75.8 million in annual wage and benefits concessions in exchange for job guarantees. The Association of Flight Attendants AFL-CIO said 80 percent of eligible flight attendants voted and 73 percent voted in favor of the new contract. In exchange for the concessions, the flight attendants have guarantees that they will be protected should the airline file for bankruptcy.
BUSINESS
By KNIGHT RIDDER/TRIBUNE | January 15, 2002
Despite staunch denials of wrongdoing while head of Sunbeam Corp., Albert J. "Chainsaw Al" Dunlap has agreed to pay $15 million to settle a class-action lawsuit brought by shareholders who accused him and other former executives of manipulating the company's financial results. As part of the same suit, shareholders received $110 million in a May settlement with the accounting firm Andersen. Shareholders alleged that the firm - formerly Arthur Andersen - lied and misled them about the financial condition of Sunbeam.
BUSINESS
By BLOOMBERG NEWS | February 7, 2001
NEW YORK -Hobbled by debt from the acquisitions of former Chief Executive Officer Albert Dunlap, Sunbeam Corp., the largest U.S. maker of small appliances, filed for Chapter 11 bankruptcy protection yesterday. The 104-year-old company said that it does not foresee any plant closings or layoffs as it seeks to reorganize its $1.7 billion bank debt and that it expects to emerge from bankruptcy proceedings in six to nine months. The company, based in Boca Raton, Fla., also said it has received $485 million in new credit from its banks and from GE Capital Corp.
BUSINESS
By BLOOMBERG NEWS | May 11, 2000
BOCA RATON, FLA. - Sunbeam Corp., the largest U.S. maker of small appliances, said yesterday that its first-quarter loss was almost as big as a year ago because of interest expenses after $2.6 billion in acquisitions. The company had a loss of $59.4 million, or 55 cents a share, compared with $60.7 million, or 60 cents, a year earlier. Sales rose 2.9 percent to $539.1 million. Sunbeam continues to suffer from costs stemming from fired Chairman Albert Dunlap's 1998 purchases of Coleman Co., First Alert Inc. and Signature Brands USA Inc. The company has had losses for nine consecutive quarters.
ENTERTAINMENT
By Jon Healey and Jon Healey,KNIGHT RIDDER/TRIBUNE | January 24, 2000
You might think your oven and refrigerator work just fine. What you might not realize is that they're too dumb to keep up with the demands of your hectic lifestyle. That, at least, is the way top appliance manufacturers see it. Last week they unveiled plans for an array of "smart" devices that can cook, stock the pantry and tackle household chores with little or no help from you. Their vision is of a house filled with devices chattering silently to each other or to sites on the Internet, grabbing information about the weather or sending off an order for milk.
BUSINESS
By Susan Harrigan and Susan Harrigan,NEWSDAY | May 17, 2005
Billionaire financier Ronald O. Perelman stands to become even richer after a jury verdict yesterday in his fraud case against Morgan Stanley, the nation's second-largest securities firm. A jury in a Florida state court awarded $604.3 million in compensatory damages to Perelman, chairman of Manhattan-based Revlon Inc., whose net worth was estimated at $4.9 billion by Forbes magazine in a recent report on the world's wealthiest people. Perelman accused Morgan Stanley of defrauding him for the sake of earning investment banking fees when it advised him to sell his 82 percent stake in camping-gear maker Coleman Co. Inc. to Sunbeam Corp.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | January 8, 1998
Black & Decker Corp. shares jumped more than 9 percent yesterday after the company said earnings in its pivotal fourth quarter would be stronger than expected.The Towson-based company said strong power tool sales in the U.S. offset a weak retail climate in Brazil, economic turmoil in Asia and foreign currency fluctuations in Europe."Although final, audited numbers are not yet available, it looks as though our operating results for the fourth quarter were the strongest in Black & Decker's history," said Nolan D. Archibald, chairman and chief executive officer.
FEATURES
By Kevin Cowherd | July 22, 1999
I HAVE JUST returned from nine days on the beach at Ocean City, and have the healthy glow and ruddiness of skin which signals initial-stage melanoma to prove it.Look, tanning is a problem for those of us with that kind of waxy, semi-translucent northern European skin.So before hitting the beach I slather on the sunscreen -- thick, greasy stuff with a Sun Protection Factor so high you wouldn't pink up at ground zero of a nuclear blast.Then I sit on the beach -- oh, yes, that's a sight -- and read my newspapers and books, and within an hour I look like I've been napping inside a blast furnace.
BUSINESS
By KNIGHT RIDDER/TRIBUNE | November 4, 1998
CHICAGO -- A federal judge in Chicago gave the American Medical Association two weeks to come back with a list of reasons why its settlement with Sunbeam Corp. should be closed from review by another medical group.For the time being, U.S. District Judge Harry Leinenweber's ruling yesterday keeps alive efforts by the Tucson, Ariz.-based Association of American Physicians & Surgeons' effort to get access to documents that were part of the Chicago-based AMA's legal dispute with Sunbeam.The Association of American Physicians & Surgeons is best known for successfully suing President Clinton's task force on health care reform to discover who was on the task force -- led by Hillary Rodham Clinton -- and what kind of information was being gathered, in order to determine if any special interests were involved, the association's executive director, Jane Orient, said.
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