Case | HBS Case Collection | December 2005 (Revised November 2006)

Corning, 2002

by Malcolm P. Baker and James Quinn


Corning, with large investments in fiber optic technology, was hit particularly hard by the collapse of the telecommunications industry in 2001. With over $4 billion in debt, the firm's survival appears to rest on raising additional equity capital. The protagonist is considering whether to invest in Corning or in a new mandatory convertible preferred stock that is being offered to the public.

Keywords: Financial Strategy; Financial Condition; Financial Instruments; Valuation; Capital; Public Equity; Stock Shares; Business or Company Management; Strategy; Manufacturing Industry; Industrial Products Industry;


Baker, Malcolm P., and James Quinn. "Corning, 2002." Harvard Business School Case 206-018, December 2005. (Revised November 2006.)