Publications

29 Jan 2015
Op-Ed

The Fall of Greece

Editor's note. On Sunday, the left-leaning Syriza party and its leader Alexis Tsipra won a decisive national victory in Greece, partly on pledges to reduce current austerity measures and to seek a restructuring of debt commitments to... View Details

Keywords: by George Serafeim

01 Dec 2002
News

Alumni Bookshelf

organization. Stressing that such trust requires much more than personal credibility, they provide self-assessment exercises that show executives where they currently stand as trusted leaders and where they could stand. Downturns, mergers, and View Details

1993
Chapter

Troubled Debt Restructurings: An Empirical Analysis of Private Reorganization of Firms in Default

By: S. C. Gilson

Keywords: Insolvency and Bankruptcy; Restructuring; Borrowing and Debt

February 1996 (Revised November 1998)
Case

Brown Group, Inc.--The Dividend Decision

By: Joseph L. Bower

Keywords: Corporate Strategy; Restructuring; Investment Return

November 2021 (Revised March 2022)
Case

Pacesetters

By: Jeffrey J. Bussgang and Mel Martin

City Sealcoating CEO Keith Chaney had just publicly called out the Boston Chamber of Commerce for their slow progress on their supplier diversity program, Pacesetters. Established in 2018 by regional business leaders, Pacesetters was supposed to facilitate... View Details

Keywords: Racial Wealth Gap; Procurement; Suppliers; Diversity; Programs; Small Business; Restructuring; Contracts; United States; Boston

June 2013
Supplement

Union Corrugating Co. (A) (Spreadsheet Supplement)

This is the spreadsheet supplement for HBS Case 803065, containing Exhibit 3 as an Excel document. View Details

August 2008
Background Note

Divisive Reorganizations

By: Henry B. Reiling and Kevin Wall

The note (1) describes "spin-offs" and "split-offs," (2) summarizes the requirements to qualify for tax postponement, and (3) identifies the public policy considerations justifying this favorable treatment. View Details

Keywords: Business Units; Restructuring; Policy; Taxation

January 1998
Case

Transformation at Ernst & Young, United Kingdom

By: John J. Gabarro and Samantha Graff

Describes a major organizational transformation process at Ernst & Young, United Kingdom, and the events leading up to the first deal since its introduction. Raises questions of leadership, organizational design, and organizational change. View Details

Keywords: Organizational Change and Adaptation; Change Management; Leadership; Organizational Design; Restructuring; Accounting Industry; United Kingdom

Keywords: Consumer Products & Packaged Goods;#20;#Ecommerce;#19;#Digital Health;#29;#Entertainment;#30;#Fashion, Beauty, Apparel, & Retail;#31;#Finance;#55;#Music

Profile

John Schupbach

changes to restructure the health-care experience. There's never been a more exciting time in history for being able to improve quality and the health and length of human life." But doing so means reaching beyond traditional... View Details

Keywords: Healthcare/Biotech

Profile

Alex Slusky

guiding new enterprises through slow periods. “There were plenty of VC firms,” says Alex, “but not private equity firms that had deep technology expertise that could be used to restructure and turn around companies that had fallen on hard... View Details

Michael Kaplan

positions in the venture capital and financial space before his entrepreneurial spirit led him and his brother to launch Fashion to Figure as a single store they ran themselves for two years before expanding the business. Recently, Kaplan has been an advisor and... View Details

01 Dec 2017
News

2017 in Energy: A Future of Lower Energy Prices

hand, it creates all kinds of interesting opportunities for energy-intensive manufacturing. You will also see restructuring in the power generation sector, as low oil and natural gas prices reduce power prices. It may be a contrarian... View Details

Keywords: Sarah Wright (MBA 1997), founder, Hull Street Energy

January 2017 (Revised May 2020)
Case

Sesame Workshop (A): Bringing Big Bird Back to Health

By: Rosabeth Moss Kanter, Ryan Raffaelli and Jonathan Cohen

Sesame Workshop was transforming in 2016. CEO Jeff Dunn had reorganized and shifted the iconic institution to respond to digital disruption and a consensus culture. This case examines his efforts to turn Sesame Workshop around. It notes Sesame's storied history and the... View Details

Keywords: Restructuring; Organizational Change and Adaptation; Leadership; Information Technology; Education; Media; Strategy; Education Industry

1999
Case

Nucor Corporation (B)

By: Vijay Govindarajan

In January, 1999, Ken Iverson, the thirty-year leader of Nucor Corporation, was forced into retirement. Five months later, his successor, John Correnti, was asked to leave. The board of directors wanted fundamental shifts in Nucor's strategy and organization that... View Details

Keywords: Governing and Advisory Boards; Restructuring; Management Teams; Business Strategy

July 1995
Teaching Note

Air Products and Chemicals, Inc.: MIS Reorganization (A) and Project ICON (A), (Abridged) TN

By: F. Warren McFarlan

Teaching Note for (9-193-008). View Details

Keywords: Restructuring; Management Teams; Transformation; Decisions; Management Succession; Chemical Industry; London

February 2005 (Revised March 2005)
Case

The Trustees of Reservations

By: Michael Chu

The executive director and chairman of the board of The Trustees of Reservations, one of the nation's oldest land conservation institutions, undertake a major governance restructuring. Reviews the forces leading to the change, the process by which its undertaken, and... View Details

Keywords: Restructuring; Governance Controls; Performance Effectiveness; Problems and Challenges; Social Enterprise

December 2000 (Revised December 2016)
Technical Note

Valuing Companies in Corporate Restructurings: Technical Note

By: Stuart C. Gilson

This case provides a technical overview of different valuation techniques for use in valuing companies in corporate restructuring. Techniques covered include adjusted present value, WACC, capital cash flow, and discounted cash flow valuation. Specific numerical... View Details

Keywords: Restructuring; Capital; Cash Flow; Interest Rates; Valuation

2009
Case

Mercury Athletic Footwear, Inc.: Valuing the Opportunity: Brief Case No. 4050.

By: Timothy A. Luehrman and Joel L. Heilprin

In January 2007, West Coast Fashions, Inc., a large designer and marketer of branded apparel, announced a strategic reorganization that would result in the divestiture of their wholly owned footwear subsidiary, Mercury Athletic. John Liedtke, the head of business... View Details

Keywords: Mergers and Acquisitions; Restructuring; Valuation; Apparel and Accessories Industry

February 1996
Case

USX Corporation

By: Stuart C. Gilson and Jeremy Cott

A large diversified steel and energy firm is pressured by a corporate raider to spin off its steel business in order to increase its stock price. As an alternative to the spinoff, management proposes replacing the company's common stock with two new classes of... View Details

Keywords: Restructuring; Stocks; Valuation; Financial Institutions; Cash Flow