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This case comments on the responsibility of professional organizations to respond openly to public accusations of wrongdoing by its members. It briefly relates the circumstances of the sexual abuse scandal in the Boston archdiocese of the Roman Catholic Church and the American Institute of Certified Public Accountants' handling of concerns about auditor independence. The case suggests that professional associations can learn from these unsuccessful attempts to suppress public concerns about practitioners.

In the mid-1980s, Arrow, the world's largest electronics distributor, implemented a college recruiting program to hire salespeople. The program was part of an effort to increase the professionalism and skill set of the sales force in an industry where few salespeople had college degrees. After an expensive and thorough training program, many of the new college grads hired were poached by Arrow's competitors for higher salaries. Arrow was ultimately unsuccessful in persuading the college grads to stay, and the recruiting program ended after five years. In 1997, CEO Steve Kaufman decided to start a new college recruiting program, determined not to repeat the mistakes of the past. A rewritten version of an earlier case.

Supplements the (A) case. A rewritten version of an earlier supplement.

Supplements the (A) case.

Why shouldn't engineers study success? Because failures tell you so much more, civil engineering professor Henry Petroski contends.

Too much friendship can make teams insular and ineffective, Joe LaBianca's research shows. Far better for team members to socialize across the company.

Software CEO Bernard Liautaud explains how he's kept growth manageable by building his global sales force incrementally.

They're in your organization--and they're easy to mistake for high potentials. But psychologists Robert Hare and Paul Babiak are readying a test to flush them out.

Should the CEO and chair be one person or two? It doesn't matter, argues corporate governance professor Charles Elson.

Solid-state is the first new lighting technology in 100 years. Soon it may drastically reduce your costs.

Oil shocks, war, tax cuts, deficits, market bubbles--nothing has really affected the long-run rate of GDP growth in the last 30 years.

Working women are well respected at the office--until they have children, finds law professor Joan C. Williams.

You can overdo feedback, HR professor Alain Gosselin's field research reveals.

Humorist and Clinton speechwriter Mark Katz reveals the awesome power of self-deprecation.

CEO Herb Baum thinks R&D is not the same as innovation, and he thinks innovation should be everyone's business at Dial.

In a gradual but profound transition, New York's park system had become dependent on private partners. The private sector's involvement was pervasive by 2003, but came in very different forms. This case, a companion to "Adrian Benepe's Challenge," highlights specific items to map the spectrum of engagement ranging from contracts where government is clearly in control, to philanthropy where government is mostly passive, to a range of complex collaboration in between. The five points of focus are: ·Outsourcing much of the maintenance of the Parks Department's fleet of vehicles; ·The evolution of the Central Park Conservancy from an informal group of volunteers to a sophisticated and well-funded non-profit with full responsibility for managing New York's flagship park; ·Bryant Park's transformation from a drug market to a glittering landmark, under the auspices of a private corporation subject to only limited Parks Department influence; ·The emergence of the Bronx River Alliance, comprising dozens of public and private organizations, as steward for the troubled river and the lands on its banks; ·The single-minded (and almost single-handed) campaign of the entertainer Bette Midler to realize her unique vision for a public park in a rough area of Harlem. HKS Case Number 1744.0

This case tells the story of the establishment and growth of public television in New Jersey, focused on the rise and fall of its first executive director, Lawrence Frymire. It implicitly raises the question of why Frymire-someone with a distinguished broadcasting career who had overseen the network of publicly-owned stations for a decade and had been responsible for getting them on the air in the first place-seemed suddenly to lose the confidence of the gubernatorially-appointed board to whom he reported. Were the motives of the board, and perhaps New Jersey's Governor, high-minded or narrowly political? What warning signs might Frymire have noted to forestall his dismissal? The case provides a vehicle for discussion about the politics of public authorities and the careers of those who work for them. HKS Case Number 1772.0

Case A: To extract cheap volatility in Duke Energy convertible bonds, Mark Punt, a convertible arbitrageur at KBC AIM, purchases the bonds and delta hedges them with a short position in the company's shares. To manage the credit risk of his long convertible bond position, Mark faces a choice of hedging with CDS, shares of the company or out-of-the-money puts on the company's stock. Key to his hedging strategy is an understanding of the observed negative correlation between credit spreads and share prices for Duke Energy.

Case B: Based on a Merton-type structural model of credit risk, Steve Dash, a trader at KBC AIM, perceives that British Airways'CDS are mispriced relative to the company's share price. Steve has to figure out which trades to put on to exploit the potential mispricing and what the main profit drivers of this strategy are. At the same time, he needs to be aware of the risks of his strategy and whether the "mispricing" could be attributable to factors that his capital structure arbitrage model isn't able to capture.