But at least in the corporate world, chainsaw-wielding executives have an abysmal record of effectively cutting costs, Forbes executive editor Matt Schifrin writes. In 1996, for instance, investors recruited the infamous Albert Dunlap, known as Chainsaw Al, to turn around the beleaguered consumer products company Sunbeam. 

As two stories we’ve republished from the archives show, Forbes was skeptical at the time about whether such an approach could work. A few years later, we were the first to uncover that Dunlap, who passed away in 2019, had been cooking the books to prop up sales.

Let’s get into the headlines,

MORE: High-ranking officials at multiple agencies have directed employees to not respond to Musk’s email, including the FBI, and the Departments of State, Defense, Justice and Health and Human Services, among others that deal with classified information. The American Federation of Government Employees, the largest union representing federal workers, decried the Musk directive as “plainly unlawful” and said it does not believe there’s any authority requiring workers to respond to it.

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The SEC has agreed to drop its lawsuit against Coinbase, following what the crypto exchange said was a change in “political leadership” at the agency. The SEC sued Coinbase, the largest crypto firm in the U.S., in 2023, accusing it of failing to register as a securities exchange, one of several crypto firms targeted under the Biden Administration.