Such drastic cost-cutting reorganizations symbolize the management strategy of Albert J. Dunlap, Sunbeam's chairman and chief executive, and in other circumstances might have bolstered Sunbeam stock.

The value of his Sunbeam stock has fallen from $425 million two years ago to a recent $9.7 million.

Or, in his course description: "Any serious Shakespeare scholar would have shorted Sunbeam stock" during the reign of Albert J. Dunlap.

Unfortunately, most of the payment was to be in Sunbeam stock, which cratered amid questions about the company's accounting that led to Mr. Dunlap's ouster.

With the additional compensation he received in Sunbeam stock in subsequent years, the total value of Mr. Elson's holdings rose to $250,000.

Sunbeam stock plunged 84 percent that year, after the discovery of accounting irregularities and the resignation of its chief executive, Albert J. Dunlap, whom Mr. Price and his aides had helped hire.

Believing that Sunbeam stock would continue to rise, Mr. Perelman agreed to take mostly Sunbeam stock in the deal.

Mr. Dunlap said he would buy $3 million of Sunbeam stock, and Sunbeam said the company's shares would be a major part of his pay package.

The day he was hired, for example, Sunbeam stock jumped 59 percent on his reputation alone.

He may have gotten a higher price for Coleman than its operations warranted, as Sunbeam later claimed, but he did not sell his Sunbeam stock to realize that gain.