Vice Presidents Anonymous is a support group for recovering VPs, much like Alcoholics Anonymous is for alcoholics. But instead of sharing stories about struggles with alcohol, we share stories about struggles with greed, sleaze, aggression, delusion, paralysis and imbecility .
Stop if you've heard this before: aggressive loaning methods; junk bonds; LBO's; high-risk, high-return; "took good care of shareholders"; aggressive shedding of under-performing business; loss of 23,000 jobs; high-interest loans constitute over 85% of the asset portfolio; and, ultimately, "scrambling to contain the financial meltdown." But hey, he kept the Pirates in Pittsburgh.
DeNunzio, Ralph—Kidder Peabody
See Carpenter, Michael.
Dunlap, Al—Scott Paper
Once a bum, always a bum
Another example, like James Dutt, of someone being ousted because they are simply such an asshole.
...Dunlap just so happens to be an asshole who looks like this:
Sunbeam wasn't the beginning, nor was it the end, nor was it the beginning of the end for Al Dunlap. But we could see the beginnings of how things ultimately for assholes who can't even cover for their own sleaziness.
Dutt, James—Beatrice Foods
A small Nebraskan operation meant to make the processing of cream more profitable for farmers. Following WWII, the company sought to expand a massive amount and go fully international.
Dutt Era. By 1984, they own companies like Avis Rent a Car and Playtex. Spawns ad campaign “We’re Beatrice” aimed at showing consumers just how much of what they buy is owned by Beatrice. This is supposedly an effort to “court” other corporations and financial investors (while unfortunately “alienating” consumers). Part of Dutt’s aggressive rebranding. Dutt manages to run the whole place to the ground with his temper and personal vindictiveness—not to mention, his awful business practices (worked in South Africa during Apartheid, dumped toxic waste into an aquifer).
Aftermath—Dutt not invited to the reunion. But he was correct about the investments—“fear and loathing in executive suite trickled down and paralyzed company…Dutt was leading but nobody seemed to follow.” His personal acidity completely undercut his ability to capitalize on the correct investments he made.