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Pershing Square 2.0
Greenwood, Robin; Hanson, Samuel G.; Biery, DavidCase HBS-216003-EFinanceIn June 2015 William A. Ackman, the CEO and Founder of New York Hedge Fund Pershing Square Capital, reflects on the success of the fund he has spent over a decade building. Since its inception in 2004, Pershing Square's assets under management had grown from $500 million to well over $18 billion. Ackman is now considering a sizable new portfolio position and must decide how he should raise capital to undertake this new investment. This choice is ...Starting at €8.20
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TravelCenters of America
Greenwood, Robin; Goldberg, Daniel; Quinn, JamesCase HBS-209030-EFinanceA New York-based hedge fund must decide whether to invest in TravelCenters of America (TA), a recent spin-off from a U.S.-based real estate investment trust. The case confronts students with the question: To what extent is this spin-off opportunity attractive from a value-investing standpoint? Historically, spin-offs have been attractive investments because of supply-demand dynamics associated with their investor base. The case is an opportunity ...Starting at €8.20
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JPMorgan Chase & Co.: Open Banking
Robert D. Austin; Jashan PuniyaCase IVEY-9B21M060-EInformation Technologies, Knowledge and CommunicationJPMorgan Chase & Co. (JPMC), one of the world’s largest banks, was confronting the advent of open banking in its retail banking business. In late 2020, policy makers and regulators were advocating movement toward open banking with growing enthusiasm as a way to stimulate competition in the financial services sector and thus, encourage greater value creation for consumers.
JPMC, however, seemed to embrace open banking while also resisting i...Starting at €8.20
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Digital Transformation at GE: What Went Wrong
Robert D. Austin; Genevieve PelowCase IVEY-9B19M110-EStrategyAs recently as 2017, General Electric (GE) had been touted as an example of how established companies could pre-emptively transform their businesses digitally, without waiting to be forced to do so by their competition. But in 2018, the wheels appeared to fall off GE's transformation, amid a crisis that included leadership changes, dividend cuts, credit downgrades, and a stock price crash. The company announced that it would sell GE Digital, the ...Starting at €8.20
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MyTime (Spanish Version)
Begenau, Juliane; Greenwood, RobinCase HBS-217S10FinanceEthan Anderson, el director general de MiHora empresa de comercio electrónico basada en San Francisco, debe decidir sobre la estrategia de crecimiento de la compañía. El primer producto de MiHora era un sitio web y aplicación móvil que ofrece a los consumidores una manera conveniente de reservar citas con los comerciantes locales en todo Estados Unidos. El estudiante debe evaluar la estrategia de crecimiento de la compañía y desarrollar un modelo...Starting at €8.20
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Knight Capital Americas LLC
Robert D. Austin; Darren MeisterCase IVEY-9B15E008-EInformation TechnologiesIt took 19 years to build Knight Capital Americas LLC into the largest market maker on the New York Stock Exchange, but on August 1, 2012, it took only 45 minutes for the firm to be wiped out by an information technology (IT) problem: a change in the company's software caused it to lose more than $450 million dollars in less than an hour. Although it was ultimately saved from bankruptcy when it was acquired two days later, the terms of acquisitio...Starting at €8.20
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Hart Schaffner Marx: Neurodiversity at a Classic American Suit Maker
Robert D. AustinCase IVEY-9B18C048-ELeadership and People ManagementIn 2015, the chief executive officer (CEO) of Hart Schaffner Marx, a 130-year-old U.S. maker of men’s suits and sport coats in Des Plaines, Illinois, set out to create an employment program for people with autism with the help of the company's partner, AuStarting at €8.20
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H Partners and Six Flags (B)
Greenwood, Robin; Gorzynski, MichaelCase HBS-211096-EFinanceRehan Jaffer, the founder of hedge fund H Partners, is considering what to do with his investment in Six Flags. H Partners had invested a significant amount of the firm's capital in the senior bonds of U.S.-based Six Flags, following that company's bankruptcy filing.Starting at €5.74
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The Financial Crisis: Hank Paulson in 2008
Sunderam, Adi; Greenwood, Robin; Hanson, Samuel G.; Scharfstein, David S.Case HBS-219037-EEconomicsOn the afternoon of Monday October 13, 2008, Hank Paulson Jr., the Secretary of the Treasury of the United States, walked into the large conference room across the hall from his office in the Treasury Department. Joining him were Federal Reserve Chairman Ben Bernanke, President of the Federal Reserve Bank of New York Timothy Geithner, Chair of the Federal Deposit Insurance Corporate Sheila Bair, and the Chief Executive Officers of nine of the lar...Starting at €8.20
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Williams--2002 (Spanish version)
Coval, Joshua D; Tufano, Peter; Greenwood, RobinCase HBS-206S12FinanceWilliams, a Tulsa, Oklahoma-based firm in various energy businesses, must decide whether to accept a financing package offered by Berkshire Hathaway and Lehman Brothers. The proposed one-year credit facility would provide the firm with financial resources in a difficult period.Starting at €8.20