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LoJack is a corporation founded in 1978, which was the global leader in the development and delivery of a system that tracked and recovered stolen vehicles headed for chop shops. Despite their leadership position, company management was well aware of the risk they faced by being so closely aligned with the volatile US auto industry. In the early 2000s, the company undertook a venturing strategy that had produced four new business units. The case addresses the details about the product and its competition. It also outlines the new opportunities that were available to LoJack in the form of untapped markets and geographic expansion.

What do you do if one of your largest and oldest customers is now one of your most unprofitable? That's the dilemma faced by Tommy Bamford, director of the fictional UK-based interior fixtures manufacturer Egan & Sons. Activity-based costing analysis reveals that Westmid Builders, a long-standing client of Egan's, has become a big drag on the bottom line. But Jane Oldenburg, a regional sales manager for Egan who has deep ties with the Westmid account, argues against dropping it. After all, Westmid has stuck with Egan through thick and thin, even as many of Egan's other customers turn to Chinese manufacturers. Besides, there's a publicity angle. Case author Robert S. Kaplan, of Harvard Business School, asks whether Egan should sever its 63-year-old relationship with Westmid. Commentary comes from Timothy J. Jahnke, of Elkay Manufacturing; Jacquelyn S. Thomas, of Southern Methodist University; and HBR's online readers.

What do you do if one of your largest and oldest customers is now one of your most unprofitable? That's the dilemma faced by Tommy Bamford, director of the fictional UK-based interior fixtures manufacturer Egan & Sons. Activity-based costing analysis reveals that Westmid Builders, a long-standing client of Egan's, has become a big drag on the bottom line. But Jane Oldenburg, a regional sales manager for Egan who has deep ties with the Westmid account, argues against dropping it. After all, Westmid has stuck with Egan through thick and thin, even as many of Egan's other customers turn to Chinese manufacturers. Besides, there's a publicity angle. Case author Robert S. Kaplan, of Harvard Business School, asks whether Egan should sever its 63-year-old relationship with Westmid. Commentary comes from Timothy J. Jahnke, of Elkay Manufacturing; Jacquelyn S. Thomas, of Southern Methodist University; and HBR's online readers.

What do you do if one of your largest and oldest customers is now one of your most unprofitable? That's the dilemma faced by Tommy Bamford, director of the fictional UK-based interior fixtures manufacturer Egan & Sons. Activity-based costing analysis reveals that Westmid Builders, a long-standing client of Egan's, has become a big drag on the bottom line. But Jane Oldenburg, a regional sales manager for Egan who has deep ties with the Westmid account, argues against dropping it. After all, Westmid has stuck with Egan through thick and thin, even as many of Egan's other customers turn to Chinese manufacturers. Besides, there's a publicity angle. Case author Robert S. Kaplan, of Harvard Business School, asks whether Egan should sever its 63-year-old relationship with Westmid. Commentary comes from Timothy J. Jahnke, of Elkay Manufacturing; Jacquelyn S. Thomas, of Southern Methodist University; and HBR's online readers.

The Singapore Exchange Limited (SGX) proposed takeover of the ASX Limited (ASX) is a watershed event, and the first of its kind involving two exchanges in Asia-Pacific. This case showcases the multifaceted dimensions and intricacies in forging corporate marriages. It covers several issues, including: Was the offer price right? Was the takeover strategy appropriate? Were the preparations adequate for key stakeholders' buy-ins for the takeover? Were employees' job security assured? What were the synergies and sustainable value-propositions and how were these transacted into corporate financial and cultural wellbeing? The case also presents the "twists and turns" of events that unfolded upon the announcement of the deal. It focuses on the concerns of key stakeholders critical to the success of this pioneering endeavour.

In late December 2011, Hayman Capital founder and portfolio manager Kyle Bass was reviewing Japanese government budget projections for 2012. The projections appeared contrary to Hayman Capital's views on Japan, where the fund had built a bearish position. Japan had the world's highest debt burden, whether expressed as a percentage of GDP or government revenue. Guided by recent global events, Bass forecast that Japan would soon experience increases in interest rates, a devaluation of the currency, and eventually, a restructuring of the country's debt.

We provide a primer on the market for securities' lending of equities in the United States. We describe the basic market structure, along with descriptions of the relevant market participants. We build intuition for the basic economic forces in this decentralized market through a series of examples that sequentially build on each other layering on the particular fees and collateral requirements commonly levied in short-selling transactions. We also provide a survey of the academic literature to date on the relationship between short selling and securities' prices.

Casino owner considers whether to implode, complete, or do nothing with a 26 story vacant new building on the Las Vegas Strip. This case continues a series of pieces about the progress of CityCenter, an $11bn project in Las Vegas said to be the largest private construction project in the history of the United States. As in the prior observations of this project, issues around measurement of demand, architecture, construction, scheduling, and finance all interact. At the time of the case, court hearings have just started with a possible swing in the outcomes of $600,000,000.

The chief financial officer (CFO) of TELUS Corporation (Telus) has just been informed that Moody's, a bond rating service, has downgraded the firm's credit rating to one notch below investment grade. The CFO's challenge is to determine what specific actions, if any, to recommend to the firm's audit committee. First, this case facilitates a discussion on how changes in capital structure impact a firm's earnings, stock price and flexibility to carry out plan. Second, students learn about how bond ratings are set and how a firm's bond rating affects its bond yield. Last, by focusing on the situation faced by Telus during challenging market conditions in 2002, students learn how to manage relationships with investors while in the midst of change.

Spreadsheet supplement for case 297-047

The case illustrates how a leading German hospital group has invested deeply in the measurement of patient-level outcomes and costs, the foundations of a health care value framework. The company launches a pilot project to use time-driven activity-based costing (TDABC) for measuring the cost of total knee replacements. The costing project complements an existing initiative for comprehensive outcomes measurement. The combination of accurate measurement of outcomes and costs empowers local personnel - physicians, nurses, and administrators - to improve the value of care they deliver. It also permits benchmarking across the group's multiple hospital sites to identify best practices that can be shared. The case concludes with a decision on using outcome and cost measurement to inform the adoption of a new recuperative approach that promises to dramatically lower post-surgical length-of-stays.

Clarks at a Crossroads (A) describes how this venerable British shoe company falls behind its competition and into financial trouble. The case ends with a pivotal vote by shareholders on whether to sell this family company.

Clarks (B) summarizes the results of the shareholders vote described in the (A) case.

Clarks (C) describes the turnaround of C&J Clarks Ltd., 1993-2002. It describes the roles of family chairman Roger Pedder, and CEO Timothy Parker, in this successful effort.

Spreadsheet supplement for case 212-051.

On December 22, 2010, the chief executive office (CEO) of Al Hilal Bank was preparing to address a group of international banking executives who were interested in understanding what decisions had contributed to Al Hilal's success thus far, and what challenges the bank would face for 2011 and beyond. In two and a half years, Al Hilal had developed a respected and fast-growing Islamic bank. The Al Hilal team had combined a foundation of strong corporate governance practices, a strong risk management framework and an innovative customer service culture. As concrete proof of its success, it had become profitable in the third quarter of 2009, and profits were rising rapidly.

Once a sleepy old boys' club, the U.S. financial sector is now a dynamic and growing business that attracts the best and the brightest. It is tempting to declare the industry a roaring success. But its purpose is to serve the needs of U.S. households and firms, and by this standard its performance has been mixed. The sector's growth has been beneficial for U.S. corporations, which enjoy ready access to the deepest capital markets in the world. Venture capital, for example, and the public equity markets that support it, has channeled money to innovative ideas that have transformed industries and generated new ones. The rest of the economy, however, has not been well served by the financial sector's boom. First, the shift from deposit-based banking to a market-based "shadow banking" system, without adequate regulatory adjustments, has left the financial system vulnerable to crisis. Second, trillions of dollars have been steered into residential real estate and away from more productive investments. Third, the cost of professional investment management is too high, which drains talent from other industries. The financial sector could promote the health and competitiveness of the U.S. economy by increasing capital and liquidity requirements, reorienting the discussion around housing finance reform from keeping mortgage credit cheap to ensuring financial stability, and instituting measures that compel asset managers to compete on the true value of the services they provide.

Jamie Bailey, owner and president of C. R. Plastics, had successfully grown his business every year since 1994 when he began producing recycled plastic outdoor furniture. This rapid growth had provided its own challenges in terms of constrained financing and by summer 2010, Bailey was desperate for a new source of cash. He subsequently auditioned to be on Dragon’s Den, a television show where entrepreneurs could pitch their business to a group of venture capitalists, who could then choose to invest their own cash in exchange for a share of the business. With a week remaining before he had to present his final pitch, Bailey had to make a difficult prediction: How much money would he need to meet the growing demand into 2011? Complicating his analysis were competing proposals to fundamentally change how production was managed. In addition to reconfiguring labour allocation, one method required significant investment in equipment, while the other increased inventory during the off-season. Which alternative would allow the company to retain a greater share of the equity when Bailey pitched his business to the Dragon’s Den panel?

Spreadsheet supplement for case 212-060.