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• Teaching Note | HBS Case Collection | 2013

  The Fall of Enron (TN)

  Paul Healy

  Citation:

  Healy, Paul. "The Fall of Enron (TN)." Harvard Business School Teaching Note 113-128, April 2013.

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• Case | HBS Case Collection | 2013

  Value Partners and the Evergrande Situation

  Paul Healy and Keith Chi-ho Wong

  In June 2012, Cheah Cheng-Hye and his colleagues at Value Partners, a Hong-Kong-based investment firm, received a copy of a short-seller report alleging that Evergrande, one of China's largest property developers, was using fraudulent accounting and paying bribes to secure business. Evergrande's stock plummeted, and Value Partners, which had a sizable holding of Evergrande stock, had to determine how to respond to the allegations. The case provides an opportunity to review Value Partners' research approach to investing in Chinese companies and to assess the merits of the Evergrande allegations.

  Keywords: asset management; financial analysis; value investing; China; Asset Management; Crime and Corruption; Financial Services Industry; China;

  Citation:

  Healy, Paul, and Keith Chi-ho Wong. "Value Partners and the Evergrande Situation." Harvard Business School Case 113-113, April 2013.

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• Case | HBS Case Collection | 2013 (Revised from original 2010 version)

  Aubrey McClendon's Special Incentive Compensation at Chesapeake Energy (A)

  Paul Healy, Clayton S. Rose and Aldo Sesia

  Aubrey McClendon, founder and CEO of Chesapeake Energy, was, according to Fortune Magazine, the highest paid U.S. CEO in 2008 receiving over $100 million in total compensation. McClendon received this compensation despite a significant drop in the company's stock price and financial performance during the year. The (A) case addresses the specifics of the compensation and the rationale for the compensation from the perspective of Chesapeake's board and its compensation committee including McClendon's role in consummating several joint ventures, which the board and committee believed positioned the company for future growth in the relatively young industry of unconventional natural gas exploration and extraction. In addition, the (A) case describes the role of the compensation committee and the company's executive performance measurement factors.

  Keywords: Financial Statements; Financial Reporting; Price; Stock Options; Valuation; Joint Ventures; Business Growth and Maturation; Economic Growth; Growth and Development Strategy; Change Management; Energy Industry; United States;

  Citation:

  Healy, Paul, Clayton S. Rose, and Aldo Sesia. "Aubrey McClendon's Special Incentive Compensation at Chesapeake Energy (A)." Harvard Business School Case 110-047, April 2013. (Revised from original January 2010 version.)

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