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February 2016 (Revised March 2019)
Case

Bankruptcy at Caesars Entertainment

By: Kristin Mugford and David Chan

Caesars Entertainment was a large casino operator in the United States that had been purchased in a 2008 leveraged buyout by Apollo and TPG. In January 2015, Caesars Entertainment Operating Company (CEOC), its largest subsidiary, filed for Chapter 11. This set up a... View Details

Keywords: Gaming; Chapter 11; Fraudulent Conveyance; Apollo; TPG; Bankruptcy; Leveraged Buyouts; Restructuring; Capital Structure; Insolvency and Bankruptcy; Private Equity; Financial Management; Lawsuits and Litigation; Negotiation; Games, Gaming, and Gambling; Entertainment and Recreation Industry; Las Vegas

November 2023 (Revised April 2024)
Case

Celsius Network Inc.: Fear, Uncertainty, and Doubt in the Brave New World of Crypto Bankruptcy

By: Stuart C. Gilson and Sarah L. Abbott

In July 2022, Celsius Network filed for Chapter 11 bankruptcy. CEO Alex Mashinsky acknowledged that Celsius had grown its assets “faster than the Company was prepared to deploy [them]” and as a result had made “certain poor asset deployment decisions.” Two months after... View Details

Keywords: Cryptocurrency; Chapter 11; Restructuring; Insolvency and Bankruptcy; Asset Management; Acquisition; Borrowing and Debt; Financial Services Industry; United States

June 2010 (Revised August 2021)
Case

Vereinigung Hamburger Schiffsmakler und Schiffsagenten e.V. (VHSS): Valuing Ships

By: Benjamin C. Esty and Albert Sheen

After booming for more than five years, the global shipping (maritime) industry experienced a dramatic crash in late 2008 as the global financial system froze and the global economy slid into recession. Ship charter rates (revenue) fell by as much as 90% causing prices... View Details

Keywords: Fair Value Accounting; Financial Crisis; Capital Markets; Financial Liquidity; International Finance; Globalized Markets and Industries; Valuation; Banking Industry; Shipping Industry; Germany

April 2023
Case

Burning the Sails to Save the Ship: The Pilati Family Dilemma

By: Lauren Cohen, Hao Gao, Jiawei Ye and Grace Headinger

Octavian Graf Pilati, rising generation member of an Austrian princely family, prepared to sell the palace his family had held for over three hundred years. In recent years, the Pilati family lands had been leveraged as loan collateral for an international venture that... View Details

Keywords: Family Office; Family; Plant-Based Agribusiness; Agribusiness; Family Business; Property; Identity; Culture; Ethics; Insolvency and Bankruptcy; Governance; Crisis Management; Family and Family Relationships; Agriculture and Agribusiness Industry; Real Estate Industry; Austria

Article

Early Withdrawal of Pandemic Unemployment Insurance: Effects on Earnings, Employment and Consumption

By: Kyle Coombs, Arindrajit Dube, Calvin Jahnke, Raymond Kluender, Suresh Naidu and Michael Stepner

In June 2021, 22 states ended all supplemental pandemic unemployment insurance (UI) benefits, eliminating benefits entirely for over 2 million workers and reducing benefits by $300 per week for over 1 million workers. Using anonymous bank transaction data and a... View Details

Keywords: COVID-19 Pandemic; Unemployment Insurance; Health Pandemics; Insurance; Employment; Financial Condition; Spending; Government Administration

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16 Jul 2020
Research & Ideas

Restaurant Revolution: How the Industry Is Fighting to Stay Alive

It’s never been easy to make money in the restaurant industry. A highly fragmented sector dominated by 70 percent independent owners and operators, the average restaurant’s annual revenue hovers around $1 million and generates an operating profit of just 4-5 percent. A... View Details

Keywords: by Michael S. Kaufman, Lena G. Goldberg, and Jill Avery; Food & Beverage

2008
Simulation

DEC v. Riverside

By: David A. Lax, James K. Sebenius, Lawrence Susskind and Thomas Weeks

Riverside Lumber is a pulp manufacturer in a small town in the Pacific Northwest. Riverside regularly dumps effluent into a nearby river. The Division of Environmental Conservation (DEC) claims that the effluent is toxic and jeopardizes the local salmon catch.... View Details

Keywords: Competition; Conflict Management; Cooperation; Courts and Trials; Decision Choices and Conditions; Natural Environment; Negotiation; Pulp and Paper Industry; Northwestern United States

March 2017 (Revised July 2019)
Case

Interline Brands: Don't Stop Believing

By: Nori Gerardo Lietz and Ricardo Andrade

Interline Brands, a leading distributor of residential housing maintenance and repair parts and equipment in the U.S., had just held its November 2014 board meeting. The meeting had been productive but not without some soul searching for both the company’s management... View Details

Keywords: Private Equity Exit; Consumer Goods; IPO; Private Equity; Initial Public Offering; Decision Choices and Conditions

Web

1.19 Immersive Field Courses (IFC) - MBA

Learning/Independent Projects 1.18 FIELD Global Capstone 1.19 Immersive Field Courses (IFC) 1.20 Joint Degree Programs 1.21 Use of Course Work & Materials 1.22 Disability Access 1.23 Pregnancy, Childbirth & Adoption during Business School 1.24 Commencement 2. Integrity... View Details

April 2006 (Revised December 2006)
Case

The Barber of Buenos Aires: Argentina's Debt Renegotiation

By: Noel Maurer and Aldo Musacchio

Tells the story of Argentina's aggressive strategy for renegotiating its sovereign debt from 2003 to 2005. Most creditors accepted the offer to swap their debt for new securities worth 35 cents on the dollar, with no recognition of all past-due interest. Many holdouts,... View Details

Keywords: Private Sector; Borrowing and Debt; Insolvency and Bankruptcy; International Finance; Foreign Direct Investment; Sovereign Finance; Government and Politics; Negotiation Tactics; Outcome or Result; Situation or Environment; Argentina

01 Sep 2023
News

History Matters

The stunning collapse of three high-profile banks in recent months—Silicon Valley Bank, Signature Bank, and First Republic Bank—churned up a host of headlines and fears: Are these signs of major instability? The first dominos to fall? In the second edition of their... View Details

Keywords: Jen McFarland Flint; Publishing Industries (except Internet); Information

Fast Answer

Search Funds

of companies covered as well as availability of private company financial information. PPP loan data - the SBA has a dataset available related to the COVID-19 Paycheck Protection Program. Includes company address information,... View Details

16 Dec 2014
First Look

First Look: December 16

advertising system in which a certain amount of waste and fraud has become the norm, despite the system's fundamental capability to offer unprecedented accountability. Publisher's link: http://www.benedelman.org/publications/accountable-adfraud-ieeesp-nov2014.pdf... View Details

Keywords: Sean Silverthorne

05 Jun 2009
What Do You Think?

What Does Slower Economic Growth Really Mean?

opportunistic ." forms of growth (such as "financial securitization"). Milton Puryear added "truck-type SUV sales" to the list of activities deserving low multiples, commenting that, "How is it growth if it is only sustainable under View Details

Keywords: by Jim Heskett; Financial Services; Financial Services; Financial Services

December 2020 (Revised September 2023)
Case

PG&E and the First Climate Change Bankruptcy

By: Stuart C. Gilson and Sarah L. Abbott

In early 2020, the California-based utility PG&E filed a second amended plan of reorganization. PG&E had filed for Chapter 11 bankruptcy in the face of more than $30 billion of legal claims brought against it for its alleged role in causing California wildfires. The... View Details

Keywords: Chapter 11; Utilities; Liabilities; Restructuring; Insolvency and Bankruptcy; Debt Securities; Legal Liability; Climate Change; Utilities Industry; United States

September 2009
Article

Spousal Control and Intra-Household Decision Making: An Experimental Study in the Philippines

By: Nava Ashraf

Using an experimental design I elicit causal effects of spousal observability and communication on financial choices of married individuals in the Philippines. Making choices public moves men from putting money into their own account to consumption; communication with... View Details

Keywords: Intra-household; Bargaining; Experiments; Economic Development; Saving; Governance Controls; Decision Choices and Conditions; Personal Finance; Family and Family Relationships; Household; Gender

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28 May 2008
First Look

First Look: May 28, 2008

on a systematic selection and analysis of articles, the paper outlines an emerging consensus on the definition and process of institutional entrepreneurship. It also presents the previously identified enabling conditions for, and reviews... View Details

Keywords: Martha Lagace

21 Dec 2011
Research & Ideas

The Most Common Strategy Mistakes

profit. I believe that many companies undermine their own strategies. Nobody does it to them. They do it themselves. Their strategies fail from within. Then there is the host of strategy killers in the external environment. These range from so-called industry experts... View Details

Keywords: by Joan Magretta

September 1997 (Revised August 2007)
Case

Bankruptcy and Restructuring at Marvel Entertainment Group

By: Benjamin C. Esty and Jason Auerbach

Marvel Entertainment Group is the leading comic book publisher in the United States, with superheros like Spider-Man, the Incredible Hulk, the X-Men, and Captain America. It is also one of the leading manufacturers of sports and entertainment trading cards under the... View Details

Keywords: Restructuring; Decision Choices and Conditions; Borrowing and Debt; Insolvency and Bankruptcy; Governance Controls; Courts and Trials; Planning; Entertainment and Recreation Industry