It is hard to imagine where Jim Profit might have received his M.B.A., but whatever the school, it was a place where he learned the art of downsizing all too well. Profit, an intensely focused executive at Gracen & Gracen, the 15th largest company in the world, eliminates manpower with the sort of effectiveness AT&T;'s CEO Robert Allen might admire. When Profit wants someone out of the way, he might have him framed for selling contraband chemicals to Saudi terrorists or set him up for the murder of a subordinate who died of a heart attack--or both. And no outplacement counseling.
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