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In the spring of 2011, JPMorgan Chase realised that their synthetic credit portfolio (SCP), which represented less than 1% of the bank's total assets, had grown to become more than half of the bank's total risk. An article in the WSJ would soon make it public knowledge that the bank was in a difficult situation. How could an institution known for its diligence, which had survived the global financial crisis, and was led by a highly respected CEO (Jamie Dimon), end up in such dire straits?

An entrepreneur is reviewing her business plan for a proposed new venture that would provide billing services to emergency room physicians in a hospital setting. She has to make a final recommendation regarding the feasibility of the plan. The entrepreneur must ensure that her financial analysis provides a realistic projection of the revenue and profit. She also wants to consider all the pertinent factors that could potentially affect the viability of this business before she invests $20,000 of personal funds in the venture.

Spreadsheet for KEL778

In 2012, the manager of commercial accounts at the central Montreal, Quebec, branch of the Dominion Bank of Canada considers a loan request from the founder and chief executive officer of a growing wholesaler of housewares and textiles to independent and multi-national retailers across Canada. The owner is requesting a $4 million long-term loan to purchase and equip a building in an industrial area of Montreal into which the company could move from its present location.

Okey Enelamah is the CEO of the African Capital Alliance (ACA), a private equity firm based in Nigeria. ACA has spent more than a year arranging a $500 million consortium bid to acquire and recapitalize Union Bank, Nigeria's sixth largest bank. Several weeks before the deal is scheduled to close, the unexpected exit of several international investors has put the group's ability to fund the deal in question. With time running out, Enelamah and the ACA investment committee must decide whether the Union Bank acquisition is still a wise investment, or whether the firm's time, talents, and capital would be better invested in other parts of the fast-growing Nigerian economy.

This is a two-part case which examines the events that led to CEO Michael Dell's decision to bring his company private in 2013. Case A is a global business strategy case about transforming and turning around a $60 billion technology company, and the challenge of valuing that business as its legacy declined and its ambitious diversification program progressed; and case B is a deal case about a very public going private process and the financial and transactional issues that gripped the market for close to a year, prompting both public and private market participants to debate the value and future of Dell. The cases also address important policy questions about the incentives and roles of various participants, the adequacy of public disclosure about large complex businesses, and the problems board face in managing turnarounds and exits of large complex enterprises. The case presumes some working knowledge of corporate finance.

This is a two-part case which examines the events that led to CEO Michael Dell's decision to bring his company private in 2013. Case A is a global business strategy case about transforming and turning around a $60 billion technology company, and the challenge of valuing that business as its legacy declined and its ambitious diversification program progressed; and case B is a deal case about a very public going private process and the financial and transactional issues that gripped the market for close to a year, prompting both public and private market participants to debate the value and future of Dell. The cases also address important policy questions about the incentives and roles of various participants, the adequacy of public disclosure about large complex businesses, and the problems board face in managing turnarounds and exits of large complex enterprises. The case presumes some working knowledge of corporate finance.

Spreadsheet Supplement for Product #914541.

The note traces the evolution of the Insurance Industry in India and looks at its state in the year 2012. It throws light on the size, products, major players and other details of the industry like penetration and density. The case also compares the Indian Insurance industry with the world insurance market and a few other countries like the USA. The case concludes with the challenges faced and the road ahead for the industry.

In September 2013, Miles Griffin, CEO and chairman of the board of Newfield Energy, prepares to present financial proposals to the board of directors for approval. Newfield (based in Houston, Texas) was a large independent energy company primarily engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. It had experienced declines in earnings and cash flows in recent years because of the decline of natural gas prices and asset write-downs. The proposals to the board, prepared by the CFO, included (1) a press release outlining that the company was planning to divest several natural gas projects immediately, probably at significant book losses; (2) a significant reduction of common stock dividends; and (3) an exchange offer under which the company would exchange up to 20% of its common stocks into newly issued preferred stocks. Griffin was concerned that the breadth and complexity of the proposals might cause investors to worry. This case is ideal for use in first- or second-year MBA courses in corporate finance or capital markets or in a finance course for advanced undergraduates.

This case is a multi-party M&A negotiation between companies in the liquor business. The target company National Distilleries Corporation (NDC) is the target of two competitors, namely Liquor America (LA) and International Liquor (IL).

This case is a multi-party M&A negotiation between companies in the liquor business. The target company National Distilleries Corporation (NDC) is the target of two competitors, namely Liquor America (LA) and International Liquor (IL).

This case is a multi-party M&A negotiation between companies in the liquor business. The target company National Distilleries Corporation (NDC) is the target of two competitors, namely Liquor America (LA) and International Liquor (IL).

This case is a multi-party M&A negotiation between companies in the liquor business. The target company National Distilleries Corporation (NDC) is the target of two competitors, namely Liquor America (LA) and International Liquor (IL).

It is five years since the Great Recession, and Morgan Stanley and its competitors are still trying to regain the confidence of investors. To that end, James Gorman, Morgan Stanley CEO and chairman, has taken the bold step of creating an institute for sustainable investing, for which Morgan Stanley will provide the initial $1 billion of investment capital in hopes of raising 10 times that amount. The pledge is the largest to date from an impact fund - toping Goldman Sachs' $250-million social impact fund as well as initiatives by UBS and JP Morgan & Chase. Students are tasked with assessing the plan's rollout and comparing and contrasting Morgan Stanley's strategy to that of its competitors. They are ultimately asked to answer the question of whether investment banking firms can drive sustainability in the marketplace.

Potatoes are grown across 130 countries and form the largest non-cereal food crop consumed in large per-capita measures in some of the Eastern European and South American countries. India is the world's third-largest producer of the crop and is estimated to consume about 25 million tonnes each year. Calcutta-based Sumangal Industries Limited launched a high yield investment program under the banner of the Flexi-Potato Purchase Scheme. Market regulator, Securities and Exchange Board of India (SEBI), took exception to the company's collecting uncollateralized deposits from the members of the public without due registration, and issued prohibitive orders.This case puts the facts underlying the offering in perspective and conducts a micro-economic analysis to assess the strengths of the business proposition. The statistical analyses reveal that the volatility and predictability of seasonal pricing patterns that the company seeks to exploit may not continue beyond the short-term. Further, the early success of the scheme is likely to attract entry into the segment, thereby squeezing arbitrage margins and enhancing business process costs. This case also lays out facts relating to exogenous influences on the local potato market and encourages policy makers to adequately inform potential investors as a means to empower them to make sound resource allocation decisions. The conclusions of the case could be applied beyond West Bengal, and beyond India, to other agricultural produce and pyramidal investment schemes, qualified by local conditions.

Potatoes are grown across 130 countries and form the largest non-cereal food crop consumed in large per-capita measures in some of the Eastern European and South American countries. India is the world’s third-largest producer of the crop and is estimated to consume about 25 million tonnes each year. Calcutta-based Sumangal Industries Limited launched a high yield investment program under the banner of the Flexi-Potato Purchase Scheme. Market regulator, Securities and Exchange Board of India (SEBI), took exception to the company’s collecting uncollateralized deposits from the members of the public without due registration, and issued prohibitive orders.<br><br>This case puts the facts underlying the offering in perspective and conducts a micro-economic analysis to assess the strengths of the business proposition. The statistical analyses reveal that the volatility and predictability of seasonal pricing patterns that the company seeks to exploit may not continue beyond the short-term. Further, the early success of the scheme is likely to attract entry into the segment, thereby squeezing arbitrage margins and enhancing business process costs. This case also lays out facts relating to exogenous influences on the local potato market and encourages policy makers to adequately inform potential investors as a means to empower them to make sound resource allocation decisions. The conclusions of the case could be applied beyond West Bengal, and beyond India, to other agricultural produce and pyramidal investment schemes, qualified by local conditions.

This overview describes how the United States funds and finances infrastructure investment to maintain its economic competitiveness. It considers the roles of taxpayers, users, government allocators and lenders, and private investors in the infrastructure funding system and shows that there are creative tools that can be used. It focuses on five major areas: the problematic state of fuel taxes; the increasing promise of user fees; innovations in debt financing; the challenges of privatization; and the promise (and challenges) of public-private partnerships, with particular attention to a model project in Miami, the Port Tunnel. The overview concludes with a call for cross-sector coalitions to develop strategies with long-term impact goals and short-term visible improvements for users.

Provides the opportunity to value a leveraged buy-out; and to examine the nature and extent of a company's responsibilities to its bondholders. Here, the context is a "going private" transaction in Europe, where the financing plan called for the addition to the company's balance sheet of a significant amount of new debt and a reshaping of the capital structure. While leveraged buyouts had been used in Europe for several years, this was likely the first LBO done with a company that had publicly traded investment grade debt outstanding. The increased debt from the deal would increase the risk to the company and to the existing bonds, and the bonds' prices would fall significantly as a result. Students can use discounted cash flow techniques to value the LBO. They can then consider the wisdom of undertaking the LBO at the offered price, and work out a sensible debt schedule for the company. Students must also evaluate the effect of the transaction on the existing bonds, and understand the principles governing contractual duties (and how they differ from fiduciary obligations) towards bondholders (accounting for a business and social culture outside the United States) in order to determine the best course of action for the private equity buyers.