Publications

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December 1993 (Revised April 2006)
Case

Marriott Corporation (A)

By: Lynn S. Paine and Charles A. Nichols

Marriott Corp.'s chairman and CEO must decide whether to recommend a restructuring of the company to the board of directors. The proposal he is considering would split the Marriott Corp., a premier hotel developer, owner, and manager, into two separate companies by a... View Details

Keywords: Business or Company Management; Restructuring; Governing and Advisory Boards; Decision Making; Ethics; Management Teams; Business and Shareholder Relations; Accommodations Industry

November 1993 (Revised January 1995)
Case

Orit Gadiesh: Pride at Bain & Co. (A)

Describes the events surrounding Bain & Co.'s financial and organizational struggles between 1988 and 1991. Focuses on the role of Orit Gadiesh, then vice chairman of Bain & Co., in leading the effort to restructure the company and restore company pride. View Details

Keywords: Restructuring

February 1997
Case

RPG Enterprises--1995

By: Tarun Khanna

As in most emerging markets, a significant portion of the Indian private sector is dominated by extensively diversified, often family-owned or controlled, business groups. This case examines the strategy and structure of one of the largest business groups in India, at... View Details

Keywords: Emerging Markets; Restructuring; Corporate Strategy; Alignment; Policy; Problems and Challenges; India

March 1992 (Revised April 1995)
Case

Saatchi & Saatchi Co. PLC: Corporate Strategy

By: David J. Collis

Saatchi & Saatchi, founded in 1970, became the world's largest advertising agency in 1986. It then diversified into consulting and other managerial areas before crashing in 1989. Under a new CEO, the company restructured and refocused on its advertising agencies. View Details

Keywords: Restructuring; Globalized Firms and Management; Corporate Strategy; Diversification; Advertising Industry

February 2008
Case

Campbell Soup Company: Selling Channel Innovation to Customers

Campbell Soup, like most food manufacturers, faced grocery chain and wholesale demand for its goods driven by Campbell's own promotional pricing structure rather than retail consumer demand. Former policies to encourage overstock created huge swings in production and... View Details

Keywords: Information Technology; Distribution Channels; Order Taking and Fulfillment; Manufacturing Industry; Food and Beverage Industry

2010
Book

Creating Value through Corporate Restructuring: Case Studies in Bankruptcies, Buyouts, and Breakups

By: Stuart C. Gilson

A collection of case studies illustrates real-world techniques, implementation, and strategies on corporate restructuring. Over the period 1981-1998, public companies with combined assets of over half a trillion dollars filed for Chapter 11 bankruptcy. Over the same... View Details

Keywords: Restructuring; Insolvency and Bankruptcy; Management Analysis, Tools, and Techniques; Public Ownership; Value Creation

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September 2022
Case

BancoSol: Financial Inclusion in the Perfect Storm

By: Michael Chu and Carla Larangeira

In the pandemic, financial inclusion icon BancoSol faces a government-mandated year-long deferral of all loan payments, followed by the sudden Covid death of its CEO. In a Bolivia mired in political turmoil following a failed presidential election, with clients not... View Details

Keywords: Decision Making; Crisis Management; Management Succession; Business Strategy; Innovation Leadership; Risk and Uncertainty; Financing and Loans; Restructuring; Financial Services Industry; Latin America; Bolivia

July 2014
Case

Paramount Equipment, Inc.

By: Carliss Y. Baldwin and Wei Wang

Paramount Equipment, Inc., based in Fort Wayne, Indiana, is a large manufacturer of cranes and compact construction equipment, aerial work platforms, and food service equipment. Founded in 1987, Paramount now had manufacturing operations in 24 countries. However, it... View Details

January 2002 (Revised September 2002)
Case

Corporate Renewal in America

By: Bruce R. Scott and Thomas S. Mondschean

Discusses various macroeconomic, regulatory, technological, and financial forces that led to increased corporate restructuring in the United States beginning in the mid-1980s. The U.S. financial system is often viewed as the most developed in the world and a model for... View Details

Keywords: Performance Evaluation; Corporate Governance; Macroeconomics; Economic Systems; Restructuring; Markets; Private Sector; Corporate Finance; Germany; Japan; United States

31 Mar 2002
Research & Ideas

You’re Wasting Your Employees! What You Can Do About It

Most managers today understand the strategic implications of the information-based, knowledge-driven, service-intensive economy. They know what the new game requires: speed, flexibility and continuous self-renewal. They even are recognizing that skilled and motivated... View Details

Keywords: by Christopher A. Bartlett & Sumantra Ghoshal

13 Apr 2021
Working Paper Summaries

Deregulation, Market Power, and Prices: Evidence from the Electricity Sector

Keywords: by Alexander MacKay and Ignacia Mercadal; Energy

November 2008
Supplement

NEC Electronics (CW)

By: C. Fritz Foley, Robin Greenwood and James Quinn

Why do shares in NEC Electronics, a publicly listed subsidiary of Japan conglomerate NEC trade at a discount to their fundamental value? Can Perry Capital, a U.S. hedge fund, restructure this subsidiary and generate significant returns? This case provides students with... View Details

Keywords: Business Conglomerates; Business Subsidiaries; Restructuring; Decisions; Investment Return; Investment Funds; Price; Ownership; Agency Theory; Business and Shareholder Relations; Value Creation; Electronics Industry; Japan; United States

13 Aug 2015
News

The Example Larry and Sergey Should Follow (It’s Not Buffett)

October 2008 (Revised November 2010)
Case

NEC Electronics

By: C. Fritz Foley, Robin Greenwood and James Quinn

Why do shares in NEC Electronics, a publicly listed subsidiary of Japan conglomerate NEC, trade at a discount to their fundamental value? Can Perry Capital, a U.S. hedge fund, restructure this subsidiary and generate significant returns? This case provides students... View Details

Keywords: Restructuring; Private Equity; Investment Return; Ownership Stake; Business and Shareholder Relations; Financial Services Industry; Japan

October 1990
Article

Bankruptcy, Boards, Banks, and Blockholders: Evidence on Changes in Corporate Ownership and Control When Firms Default

By: S. C. Gilson

In 111 publicly traded firms that either file for bankruptcy or privately restructure their debt between 1979 and 1985, bank lenders frequently become major stockholders or appoint new directors. On average, only 46% of incumbent directors remain when bankruptcy or... View Details

Keywords: Insolvency and Bankruptcy; Governance; Banks and Banking; Change; Business Ventures; Ownership

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December 1998 (Revised May 1999)
Case

Flagstar Companies, Inc.

By: Stuart C. Gilson and Jeremy Cott

A large restaurant chain undergoes a leveraged buyout and subsequent recapitalization. Financial and operating problems at the company force it to consider various restructuring options, including a "prepackaged" Chapter 11 exchange offer to its public bondholders. A... View Details

Keywords: Leveraged Buyouts; Restructuring; Capital; Insolvency and Bankruptcy; Debt Securities; Financial Services Industry; United States

November 2000 (Revised December 2000)
Case

Loewen Group Inc., The

By: Stuart C. Gilson and Jose Camacho

A publiclytraded funeral home and cemetery consolidator faces imminent financial distress. The company has aggressively grown through use of debt. Restructuring the debt is potentially very costly to creditors, shareholders, suppliers, and other corporate stakeholders.... View Details

Keywords: International Accounting; Restructuring; Capital Structure; Cost of Capital; Debt Securities; Cross-Cultural and Cross-Border Issues; Crisis Management; Business and Shareholder Relations; Business and Stakeholder Relations; Service Industry

November 1978 (Revised January 1995)
Case

McGregor's Ltd. Department Store

President has decided to restructure the discount scheme. Every staff member would be affected, good or bad. Information would have to be tailored to each group--worst off would be managers. Task is to write to managers/supervisors. View Details

Keywords: Organizational Change and Adaptation; Communication Intention and Meaning; Compensation and Benefits; Retail Industry