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This case explores the considerations of an executive compensation analyst as he finalizes a report to the compensation and benefits committee of Charter Communications (Charter), a leading broadband and communications company, on the appropriate compensation structure for Charter's CEO, Thomas Rutledge. Charter's board clearly wanted to retain Rutledge, but in the world of executive compensation, it was not enough to have the biggest payment package. Proper incentives and moving performance targets were essential for companies that wanted their executives to strike the right balance between risky maneuvers and safe, consistent success. The analyst must be careful to cover all of his bases in his report, balancing outright monetary rewards with proper long-term incentives.

Student spreadsheet to case UV7860

After the British government searched for a venture capital organization to create a new dementia fund, it selected SV Health, a UK- and US-based healthcare VC fund. The case follows Kate Bingham, a partner at SV Health, as she starts the fund, raises money, makes investments, and hires a fund CEO.

This case teaches students the importance of maintaining a strong FICO score by illustrating the consequences of paying bills late or not at all. The protagonist is David Molina, a waiter at a struggling Italian restaurant located down the block from where he lives. Money is tight for Molina right now-his limited income means he lives paycheck to paycheck. However, Molina knows things will be looking up for him soon because he recently accepted a job as a bank teller across town-his first desk job. Molina has been putting off paying two of his bills: a cable bill and his Bank of America credit card bill, both of which are late and have been issued, this time, in the form of threats to impact Molina's credit score if he doesn't pay them. He has just enough money to afford the minimum payments on each overdue bill. But then he receives a phone call from his friend, Jim Lindsey, reminding him about an invitation to go to Myrtle Beach for the upcoming weekend. Molina knows he cannot afford it, but a woman he's attracted to, Jessica, will be there too. Should Molina put off the bills yet again, and if so, how exactly will being late on them hurt his credit score?

In December 2010, Shridhar Sethuram was evaluating an investment in a joint development of residential flats in Gachibowli, an information and technology (IT) hub near the city of Hyderabad in central India. Sethuram and his team at AMII Advisors, a private equity (PE) investment firm, had recently raised US$170 million with a mandate to invest the funds in the real estate market in India. Sethuram, on behalf of his investment firm, had to decide whether to invest in the Gachibowli project and how to structure the investment deal. This case is written from the perspective of a decision maker at a private equity investment fund. It provides a look at the manner in which a private equity real estate fund evaluates an opportunity and structures a real estate investment in a developing country. The case is set in India, where a large corpus of capital sourced from the US has been deployed since the early 2000s.

An investment analyst at a fictional wealth fund (SWF) is concentrating on India's high-growth, high-potential fast moving consumer goods (FMCG) sector and selects a few strong performers in both public and private markets to recommend to the management as an investment. The Indian FMCG sector has been trading at high market multiples compared to other sectors, and thus, he also needs to analyze if these high valuation levels are justified. In valuing Patanjali, a privately-held company that is a very strong performer with an unusually rapid growth trajectory, he needs to factor in both tangible and intangible information, giving special attention to the company's unusual origins and atypical management.

Background note for "Patanjali Ayurved: Valuation of an Unusual FMCG Company in India", case ISB178.

This case covers the initial public offering (IPO) of the Siemens AG subsidiary Healthineers. The case offers the opportunity to discuss IPOs and to value the company. In contrast to "Healthineers: A Strategic IPO" (UV7866), which provides some base case valuation analysis, this version of the case is designed to be used when a primary teaching objective is to have students perform more of the analysis. The material is set in 2018, when CEO Joe Kaeser and the management board of Siemens planned an IPO of its Healthineers subsidiary to support the company's continued success and spur entrepreneurial independence. The IPO would position Healthineers to compete successfully in the global health care market, which was quite different from other sectors in which Siemens, a global technology conglomerate, operated. While Siemens would maintain a substantial equity interest, Healthineers would become a separate public company with increased flexibility and autonomy. In the immediate term, the management team was especially interested in what value financial markets would place on Healthineers once it was a public company.

In January 2019, the account manager of a social finance program that provided loans to early-stage, high-growth social enterprises, was reviewing a working capital and long-term loan request for a non-profit urban farm. The farm's board of directors needed the funds to further scale the company for its third growing season. The account manager needed to consider the business’s feasibility and social impact when making the decision.

In October 2016, the board of Tata Sons, a company in the Tata Group, India's largest business group, decided to remove Cyrus Mistry from the chairmanship of its board. Subsequently, Tata Sons appealed to the shareholders of the other Tata Group companies, including Tata Steel Limited, to also remove Mistry from their boards. The shareholders of Tata Steel were informed that an extraordinary general meeting had been called to vote on two resolutions that would decide whether Mistry and another independent board member should continue as directors of Tata Steel or be removed from their positions. How could the shareholders make a thoughtful and forward-thinking decision on the two resolutions?

Student spreadsheet to case W19489

The Beiteddine Art Festival (BAF) is a non-profit organization that manages an art and musical festival in Lebanon with the aim of using cultural activity to bridge the political divide in a country torn by war and neighboring countries' conflicts. As a non-profit, the BAF relied heavily on donated funds and grants, which were at many times uncertain on all levels (amount and collection), forcing the festival to resort to bank loans to close the gap in its financing needs, often at a heavy cost. The insecurity and instability of its revenues, coupled with escalating expenses that were usually opportunistic given a deteriorating political and security situation in Lebanon and the region, posed a serious threat to the financial sustainability of BAF. In early 2017, the management of the festival was facing an exceptional situation. On one hand revenues were shrinking considerably because of a deteriorating political and financial situation in the region with Lebanon on the verge of bankruptcy; on the other hand, costs were ever more erratic because of difficulty of planning and budgeting, and with additional taxes being levied by a struggling government. The team had to decide on whether they could sign upcoming contracts with artists, and if so, create a process to ensure that financial ends met, with a clear focus on preserving the quality of performances while maintaining the impact the festival had on the social, humanitarian, and economic levels.

This case considers the buyout of Panera Bread from the perspective of a private equity fund. In early 2017, KLG Managing Director Tom Denning is considering a leveraged buyout of Panera Bread, a rapidly growing fast-casual restaurant company. A surprising Bloomberg News story signals that the deal process is broadening and KLG will have to act quickly if it hopes to buy Panera Bread. Students assume the role of Tom Denning as he prepares an investment recommendation for KLG's investment committee. In doing so, students are required to consider a very large and expensive investment. Students are challenged to create an investment recommendation by performing due diligence, determining additional questions to ask, and pricing a buyout bid that incorporates an optimal capital structure and meets KLG's return requirements. The Panera Bread case is designed to give students insight into the private equity investment process.

Student model spreadsheet for case KE1153.

Demand for healthcare and insurance is increasing as India's middle income earners seek to reduce risk. As a new MBA graduate, Krishna Chaitanya wondered if insurance would effectively protect his financial goals, what products would suit his needs, and how to find the most cost-effective life and health insurance policies. With this in mind, he wondered if by applying his financial knowledge, using concepts he learned while studying for his MBA he could find solutions to this dilemma.

India's burgeoning middle class are increasingly interested in investment opportunities and Krishna Chaitanya, a young MBA graduate was keen to create a financial plan that met his aims in life. When faced with the challenges of an investment strategy, asset allocation implementation, mutual fund selection and rebalancing a portfolio, would his plan achieve his goals when faced with the challenges of investment and personal objectives? He wondered if he could solve this problem by applying his knowledge, using concepts he learned while studying for his MBA.

The need for personal financial planning is increasing as India's growing middle class aspired to secure future wealth. Krishna Chaitanya, a recent MBA graduate, realized he needed to create a personal financial plan that included insurance, investment strategies, and a retirement plan, as early as possible in order to meet his goals in life. However, he questioned whether he could achieve his goals, due to unexpected risks. Faced with this dilemma, Krishna wondered if he could solve this problem by applying his financial knowledge, using concepts he learned while studying for his MBA.

Retirement planning is gaining importance for India's growing middle class. Like many young professionals, Krishna Chaitanya, a recent MBA graduate, questioned how he could balance his investment portfolio with a desire to achieve a comfortable retirement. Since market volatility coupled with inflation could prevent him from achieving this objective, Krishna wondered if he could solve this problem by applying his financial knowledge, using concepts he learned while studying for his MBA.

Mary Chia Holdings Limited (MCH) was a provider of lifestyle and wellness services for women and men in Singapore and Malaysia. Listed on the Singapore Catalist, the company had experienced a decline in financial performance and share price. On August 24, 2017, MCH announced that its founder would sell her 60.98 per cent stake to Suki Sushi Private Ltd., an unlisted company tightly controlled by the daughter and son-in-law of MCH's founder. Suki Sushi's offer was at SG$0.111 per share, which was almost double the closing price. Should current MCH shareholders accept Suki Sushi's offer and sell their shares, and does Suki Sushi's offer constitute an investment opportunity for investors not currently holding MCH shares?