“Chainsaw” Al Dunlap in Australia. 1989-93 Through his association with Sir James Goldsmith, Dunlap came to know Kerry Packer, a wealthy Australian with a diverse range of business investments. In 1989, when Packer purchased Australian National Industries (ANI), a large engineering enterprise that had run into major financial and strategic difficulty by diversifying into manufacturing and equipment leasing, he asked Dunlap to come to Australia to put the once-strong operation back on sound footing. Dunlap did a quick study of ANI and reported to Packer that the operation lacked focus, had excessive costs, and was poorly managed. Packer gave Dunlap a free hand in restructuring the company. Over the next 11 months, Dunlap orchestrated a series of actions that amounted to radical surgery (see Exhibit 3). In 1991, Packer sold his inter-est in ANI for a profit of $ 180 million.