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The $85.4 Billion Merger of AT&T and Time Warner: Valuation Analysis
Xiaokang Zhao; Zhichuan (Frank) LiCase IVEY-9B19N022-EFinanceOn October 22, 2016, U.S. telecom operator AT&T Inc. and television media giant Time Warner Group announced that AT&T Inc. would acquire Time Warner Group for $107.50 per share, using half cash and half stock, to a total equity value of $85.4 billion. Although the chief executive officers from both companies were very confident about the future prospects for their shareholders once the transaction was approved and completed, there was much contro...Starting at €8.20
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Identifying Industries: Financial Statement Analysis and Financial Ratio Analysis
Zhichuan (Frank) Li; Imran Yousaf; Aaqib NawazCase IVEY-W25421-EAccounting and Control, FinanceStudents were provided with the financial data for 10 major companies listed on the New York Stock Exchange in 2019. They were also given a list of 10 major industries. As an exercise, students were then asked to identify which company operated within which industry. The exercise would test the students' understanding of how a company’s financial data can be specific to a particular industry. Using only financial figures, could the student identi...Starting at €8.20
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Ford Motor Company: Basic Financial Ratios
Zhichuan (Frank) Li; Xiaojun Zhu; Daniela Zapata; Tabish MunirCase IVEY-9B18N027-EFinanceIn January 2018, an investment portfolio manager learned of a safety recall for Ford Motor Company (Ford) involving faulty airbags that failed to deploy upon collision. An investigation by U.S. regulators found that the company had been aware of these faulty airbags but had not taken proactive measures to mitigate the potential damage. As a result, in just one day, the share price for Ford dropped from $13.10 to $12.18 per share. The portfolio ma...Starting at €8.20
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Tesla: The Solarcity Acquisition
Zhichuan (Frank) Li; Tomiwa AdemidunCase IVEY-9B17N011-EFinanceIn mid-2016, the chief executive officer of Tesla, a U.S. manufacturer of electric cars, was interested in acquiring SolarCity, a U.S. solar power manufacturer and distributor. Both Tesla and SolarCity operated in young, high-growth industries; however, despite their high growth rates, both companies were also losing money every year. Both companies had similar products and could be a strong strategic fit. The chief executive officer needed to co...Starting at €8.20
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Barack Obama and the Bush Tax Cuts (B), Teaching Note
Weinzierl, Matthew C.; Kuipers, JacobTeaching Note HBS-712013-EEconomicsTeaching Note for 712-012.Starting at €0.00
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1996 Welfare Reform in the United States
Weinzierl, Matthew C.; Flanagan, Katrina; Su, AlastairCase HBS-715030-EEconomicsOn August 22, 1996, U.S. President Bill Clinton signed into law the Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA)-a dramatic reform of the American system of economic assistance for the poor that, as its title suggested, attempted to encourage labor force participation rather than reliance on federal support. Clinton's decision to support a proposal that substantially cut spending on economic assistance was controversia...Starting at €8.20
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California's Budget Crises, Tax Reform, and Domestic and International Tax Competition
Weinzierl, Matthew C.; Kuipers, JacobCase HBS-710038-EEconomicsHow do (and how should) governments design fiscal policies to compete in a globalized economy while meeting internal policy priorities including redistribution? In 2009, Governor Arnold Schwarzenegger repeatedly declared fiscal emergencies as California's state budget deficit reached all-time highs. The Governor and legislative leaders established the Commission on the Twenty-first Century Economy to recommend tax reforms that would improve the s...Starting at €8.20
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Donald Trump and the Tax Cuts and Jobs Act
Weinzierl, Matthew C.; Scherf, RobertCase HBS-719002-EEconomicsSome technology transitions are exceedingly difficult for incumbent firms to execute. The bankruptcy filing by the Eastman Kodak Company highlighted the difficulty companies faced when their core business transitioned from an analog to a digital world. Kodak's business was built on the sale of a complex manufactured product - color photographic film that was exceedingly difficult to manufacture - with correspondingly high barriers to entry. Over ...Starting at €8.20
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National Economic Accounting
Weinzierl, Matthew C.; Scherf, RobertCase HBS-719028-EEconomicsBy 2013, Google, while not a traditional manufacturer of automobiles, had invested millions of dollars in its self-driving cars which had logged over 500,000 miles of testing. The Google management team faced several questions. Should Google continue to invest in the technology behind self-driving cars? How could Google's core software-based and search business benefit from self-driving car technology? As large auto manufacturers began to invest ...Starting at €8.20
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FinSAS Financial Research: Financial Data and SAS Programming
Zhichuan (Frank) LiCase IVEY-9B16N005-EFinanceIn early January 2016, FinSAS Financial Research Inc. needed to recruit more programmers because of its rapid growth. However, the average annual salary for financial programmers had been increasing significantly. The financial research company decided that it needed advice from a “programming strategist” from the software engineering industry. The company contacted such a strategist to build a reusable module for use by all company programmers, ...Starting at €8.20