October 24, 1997 |
Declaring the yearlong restructuring of Sunbeam Corp. complete, Chairman Al Dunlap on Thursday opened the door to deal makers, saying he is interested in selling, merging or buying big early next year. The home-appliance maker hired Morgan Stanley Group Inc. as its investment banker, and Dunlap said he will consider "any and all types of transactions."
August 22, 1997 |
The American Medical Assn., saying it made a mistake, on Thursday backed away from a product endorsement scheme with Sunbeam Corp. that critics had condemned as a sellout of the physicians group. The nation's largest medical group issued a statement signed by the chairman of its board, Thomas Reardon, and the executive vice president, P. John Seward, saying the decision to approve the pact with Sunbeam "was an error." "As a result, our credibility was called into question.
August 21, 1997 |
Sunbeam Corp.'s exclusive marketing agreement with the American Medical Assn., which lets the company use the group's symbol on its products, is being reviewed by the association after it drew widespread criticism. Consumer and watchdog groups worry that the endorsement, unveiled last week, will detract from the AMA's reputation as an unbiased source of medical information. The nation's largest doctors organization will announce sometime this week its decision on the five-year agreement.
January 30, 1997 |
Philip Morris Cos. said Wednesday that its profit climbed 15.6% in the fourth quarter, propelled by an industry-leading tobacco business led by the top-selling Marlboro brand. The New York conglomerate, which also owns the growing Kraft food business and the struggling Miller Brewing operation, also said its earnings rose 15.7% for all of last year compared with 1995. It cited market research that estimated its cigarette brands accounted for nearly one of every two cigarettes sold in the U.S.
November 13, 1993 |
Sunbeam-Oster Co. Recalls Grills: The appliance maker issued a recall of 4,500 indoor electric grills, saying they could pose a fire hazard if accumulated grease is not removed from the grill between uses. Sunbeam said consumers can return the grills, which have a gray Nu-Stone plastic base and were sold between September, 1992, and June, 1993, to the manufacturer for refund or replacement. The grills, bearing model numbers Sunbeam 4757 and Oster 4772, sold for $30 to $45, the Providence, R.I.
July 23, 1993 |
Sunbeam-Oster Pays $3.9 Million to Ousted CEO: The settlement ended a $3.2-billion lawsuit filed by Paul Kazarian against two investment partners with whom he had remade the appliance maker as an independent company in 1990. Kazarian, 37, was fired in January after executives complained he was behaving irrationally and had allegedly harassed women. In addition to the severance payment, Sunbeam agreed to buy back from Kazarian 12.4 million shares of company stock for $173 million.