Publications

November 1991 (Revised December 1993)
Case

Southland Corp. (C)

Examines pre-packaged bankruptcy of Southland. View Details

Keywords: Insolvency and Bankruptcy

November 1991
Article

The Price of Risk in the United States and Japan

By: W. C. Kester and T. A. Luehrman

Keywords: Risk and Uncertainty; Price; United States; Japan

3 Oct 1991
Lecture

How are Changes in the Global Capital Markets Affecting Interaction between Shareholders and Corporations?

Keywords: Capital Markets; Business and Shareholder Relations

October 1991 (Revised December 1992)
Background Note

Note on Corporate Governance Systems: The United States, Japan, and Germany

By: W. Carl Kester and Robert W. Lightfoot

Describes and compares the corporate governance systems commonly found in the United States, Japan, and Germany. View Details

Keywords: Corporate Governance; United States; Japan; Germany

27 Sep 1991 - 28 Sep 1991
Lecture

Takeover Bids and the Relative Prices of Shares that Differ in their Voting Rights

Keywords: Stock Shares

September 1991 (Revised November 1997)
Case

Gillette's Launch of Sensor

By: Pankaj Ghemawat and Benjamin C. Esty

The introduction of the Sensor Shaving System, one of the biggest product launches ever, forced Gillette to reevaluate its strategy in its shaving and non-shaving business. It had to decide whether to go ahead with the launch and if so, at what scale. Permits analysis... View Details

Keywords: Product Launch; Technological Innovation; Innovation Strategy; Business Strategy; Marketing Strategy; Measurement and Metrics; Consumer Products Industry

September 1991
Article

A Theory of Workouts and the Effects of Reorganization Law

By: David S. Scharfstein and Robert Gertner

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July 1991
Case

Pioneer Petroleum Corp.

Pioneer is an integrated oil company. Its operations include exploration and development, production, transportation, and marketing. The case focuses on Pioneer's cost of capital calculations and its choice between a single company-wide cost of capital or divisional... View Details

Keywords: Cost of Capital; Energy Industry; Mining Industry

summer 1991
Article

Japanese Corporate Governance and the Conservation of Value in Financial Distress

By: W. C. Kester

Keywords: Value; Finance; Japan

July 1991
Case

Managing the U.S. Dollar in the 1980s

By: W. Carl Kester and Richard P. Melnick

Provides numerical data and alternative explanations concerning the U.S. dollar's rise and subsequent fall in value from 1981 through 1987. Students are challenged to study the evidence and make their own inferences concerning the dollar's movements and the degree of... View Details

Keywords: Macroeconomics; Currency Exchange Rate; Price; Theory; United States

June 1991
Case

Continental Carriers, Inc.

A U.S. trucking company is considering using debt for the first time to acquire another company. The directors of the company are divided in their opinion of the likely impact of leverage on Continental Carriers' performance. Their differences must be reconciled and a... View Details

Keywords: Debt Securities; Financing and Loans; Acquisition; Borrowing and Debt; Equity; Transportation Industry; United States

summer 1991
Article

Managing Default: Some Evidence on How Firms Choose between Workouts and Chapter 11

By: S. C. Gilson

Keywords: Insolvency and Bankruptcy; Management; Business Ventures

10 May 1991
Lecture

Financial Sources of Competitive Advantage: America vs. Japan

Keywords: Finance; Competitive Advantage; United States; Japan

April 1991 (Revised July 1994)
Case

Southland Corp. (B)

Examines Southland's financial difficulties following the LBO in 1987 up to the first restructuring plan in July 1990. The teaching objectives are: to explore the complexities of a failed leverage buyout and the operating restrictions that result from financial... View Details

Keywords: Leveraged Buyouts; Restructuring; Equity; Insolvency and Bankruptcy; Financing and Loans; Crisis Management

April 1991 (Revised December 1997)
Case

Southland Corp. (A)

Examines the Thompson's $4.9 billion leveraged buyout of the Southland Corp. in 1987. As the original founders of Southland, the Thompsons were concerned about losing control over the company upon learning of the Belzberg family's acquiring interest. The teaching... View Details

Keywords: Leveraged Buyouts; Governance Controls; Corporate Governance; Bids and Bidding; Valuation; Forecasting and Prediction; Management Analysis, Tools, and Techniques; Strategy; Cash Flow

April 1991 (Revised July 1992)
Case

Koito Manufacturing Ltd.

By: W. Carl Kester and Robert W. Lightfoot

Having acquired a 26% stake in Koito Manufacturing, a Japanese automotive parts supplier in the Toyota Group, T. Boone Pickens seeks a seat on Koito's board of directors. Koito's management resists, claiming Pickens is an unhelpful greenmailer, not a true long-term... View Details

Keywords: Acquisition; Debates; Corporate Governance; Production; Supply Chain; Performance Efficiency; Welfare; Auto Industry; Japan; United States