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To: T Bowl who wrote (3492)	6/6/1998 7:50:00 PM
From: Frodo Baxter	Respond to of 9256

Todd, you'll like this. Dangerous Games Did "Chainsaw Al" Dunlap manufacture Sunbeam's earnings last year? interactive.wsj.com Note especially this: "Our dour view of Sunbeam's current financial health is only confirmed by the company's consolidated statement of cash flow in the latest 10-K. These numbers, of course, are harder to finesse because they track the actual cash that flowed in and out of the company during 1997. And the statement doesn't paint a pretty picture. Despite 1997's eye-catching $109.4 million net profit, Sunbeam still suffered negative cash flow from operations of $8.2 million, after taking into account the explosion in Sunbeam's inventory and accounts receivable during the year. And that operating cash flow deficit would have been an even larger $67.2 million if not for the sale of $59 million in receivables in the last week of 1997. After capital expenditures of $58.3 million is thrown into the equation, Sunbeam's free cash flow deficit amounts to more than $125 million." And the beat goes on...