William E. Fruhan
George E. Bates Professor, Emeritus
Professor WILLIAM E. FRUHAN, JR. is Baker Foundation Professor at the Harvard Business School. He received his BS degree from Yale University, and his MBA and DBA degrees from Harvard University. He has served as Senior Associate Dean and Director of Faculty Development; Chairman of the Executive Education Advanced Management Program; Chairman of the Finance Area at the School; and as course head for Finance in the first year of the MBA Program.
Professor Fruhan is the author of Revitalizing Businesses; Financial Strategy; and The Fight for Competitive Advantage. He is co-editor of Case Problems in Finance (6th through 11th editions). His articles include "Corporate Raiders: Head'em Off at Value Gap;" "Management, Labor and the Golden Goose;" "How Fast Should Your Company Grow?;" "Is Your Stock Worth Its Market Price" (with T. R. Piper), all in the Harvard Business Review; and "Levitz Furniture: A Case History in the Creation and Destruction of Shareholder Value," Financial Analysts Journal.
At various times Prof. Fruhan has served as a director of 15 different corporations. Six were firms with publicly traded stock and nine were privately owned. Professor Fruhan is one of the early developers of the concept of value based management, and currently conducts his research in developing business level and corporate strategies aimed at enhancing shareholder value.
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Manual
| 1992
Teacher's Manual for Case Problems in Finance
W. E. Fruhan Jr., W. C. Kester, S. P. Mason, T. R. Piper and R. S. Ruback
Keywords: Finance;
Cases;
Citation: Fruhan, W. E., Jr., W. C. Kester, S. P. Mason, T. R. Piper, and R. S. Ruback, eds. Teacher's Manual for Case Problems in Finance. 10th ed. Homewood, IL: Irwin, 1992.
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Book
| 1997
Case Problems in Finance
W. C. Kester, W. E. Fruhan Jr., T. R. Piper and R. S. Ruback
Keywords: Finance;
Citation: Kester, W. C., W. E. Fruhan Jr., T. R. Piper, and R. S. Ruback, eds. Case Problems in Finance. 11th ed. Irwin, 1997.
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Book
| 1992
Case Problems in Finance
W. E. Fruhan Jr., W. C. Kester, S. P. Mason, T. R. Piper and R. S. Ruback
Keywords: Finance;
Citation: Fruhan, W. E., Jr., W. C. Kester, S. P. Mason, T. R. Piper, and R. S. Ruback, eds. Case Problems in Finance. 10th ed. Irwin, 1992.
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Book
| 1985
Revitalizing Businesses: Shareholder/Work Force Conflicts
W. E. Fruhan Jr.
Keywords: Business and Shareholder Relations;
Employees;
Conflict and Resolution;
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Manual
| 1985
Teacher's Manual for Revitalizing Businesses: Shareholder/Work Force Conflicts
W. E. Fruhan Jr.
Keywords: Business and Shareholder Relations;
Employees;
Conflict and Resolution;
Books;
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Book
| 1979
Financial Strategy
W. E. Fruhan Jr.
Keywords: Finance;
Strategy;
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Book
| 1972
The Fight for Competitive Advantage
W. E. Fruhan Jr.
Keywords: Competitive Advantage;
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Supplement
| HBS Case Collection
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2013
Sterling Household Products Company, Spreadsheet for Instructors (Brief Case)
William E. Fruhan and Craig Stephenson
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Supplement
| HBS Case Collection
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2013
Sterling Household Products Company, Spreadsheet for Students (Brief Case)
William E. Fruhan and Craig Stephenson
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Teaching Note
| HBS Case Collection
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2013
Sterling Household Products Company (Brief Case)
William E. Fruhan and Craig Stephenson
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Case
| HBS Case Collection
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2013
Sterling Household Products Company
William E. Fruhan and Craig Stephenson
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Supplement
| HBS Case Collection
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2013
New Earth Mining, Inc., Spreadsheet for Students (Brief Case)
William E. Fruhan and Wei Wang
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Supplement
| HBS Case Collection
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2013
New Earth Mining, Inc., Spreadsheet for Instructors (Brief Case)
William E. Fruhan and Wei Wang
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Teaching Note
| HBS Case Collection
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2013
New Earth Mining, Inc. (Brief Case)
William E. Fruhan and Wei Wang
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Case
| HBS Case Collection
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2013
New Earth Mining, Inc.
William E. Fruhan and Wei Wang
New Earth Mining is one of the largest producers of precious metals in the U.S. While the firm operates mines primarily in the U.S. and Canada, it has also made substantial investments in gold exploration projects in Australia and Chile. New Earth has been very successful and has a large amount of cash on the balance sheet, a simple debt structure, and a reasonable leverage ratio with no risk of liquidity. With a strong financial position, the firm considers reducing its dependence on precious metals by diversifying into base metals and other minerals. An investment opportunity for mining iron ore in South Africa looks promising but still carries substantial risk. A high risk of civil war in neighboring countries along with strong fears that the South African government will nationalize mining operations combine to create an unstable political environment. The tentative financing package is complex and creates challenges for determining a value for the project. Students must complete a quantitative analysis of 4 proposals with different valuation methods before making a final recommendation.
Keywords: South Africa;
capital budgeting;
international business;
valuation;
Return on investment;
risk management;
mining;
Risk and Uncertainty;
Risk Management;
Valuation;
Investment;
Diversification;
Mining Industry;
Australia;
South Africa;
Chile;
Canada;
United States;
Citation: Fruhan, William E., and Wei Wang. " New Earth Mining, Inc." Harvard Business School Brief Case 913-548, February 2013.
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Background Note
| HBS Case Collection
|
2012
(Revised from original 2006 version)
The Company Sale Process
William E. Fruhan Jr.
Lays out the steps, the timeline, and the process by which a company is sold. Focuses on the sale of companies with enterprise values greater than $100 million. These transactions are large enough to require the help of a financial adviser and attract both strategic and financial bidders. The sale process described is that of a private auction, including a confidential information memorandum and a "roadshow" to sell the high-yield debt needed to fund the transaction. Covers issues such as identifying and attracting bidders; dealing with the concerns of the managers of the selling company; negotiating issues in a definitive merger agreement; and post-sale issues.
Keywords: Mergers and Acquisitions;
Auctions;
Bids and Bidding;
Agreements and Arrangements;
Sales;
Citation: Fruhan, William E., Jr. " The Company Sale Process." Harvard Business School Background Note 206-108, April 2012. (Revised from original April 2006 version.)
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Background Note
| HBS Case Collection
|
2012
(Revised from original 2006 version)
The Role of Private Equity Firms in Merger and Acquisition Transactions
William E. Fruhan Jr.
Explores the importance of private equity firms in merger and acquisitions activity around the globe. In many countries, these firms now account for one quarter of the total merger and acquisition activity of all firms. The larger private equity firms generate fees for investment banking firms that exceed $350 million per year. Shows how the general partners of the fund financing the acquisition; the limited partners of the fund financing the acquisition; and the management team running the acquired firm for the private equity sponsor share the shareholder value creation in a successful leveraged buyout sponsored by a private equity firm.
Keywords: Leveraged Buyouts;
Mergers and Acquisitions;
Private Equity;
Investment Funds;
Value Creation;
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Background Note
| HBS Case Collection
|
2012
Note: Net Cash, Share Repurchases and EPS Growth
William E. Fruhan Jr.
How companies with large net cash positions can enhance earnings/share through share repurchase in an environment of low interest rates.
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Case
| HBS Case Collection
|
2012
(Revised from original 2011 version)
Braddock Industries, Inc.
William E. Fruhan
This case examines the drivers of economic value creation for shareholders, and how these drivers are reflected in various incentive compensation programs for management. The case also looks at how the economic performance of business units can be evaluated using measures of economic value creation.
Keywords: Business Units;
Investment;
Executive Compensation;
Measurement and Metrics;
Performance Evaluation;
Business and Shareholder Relations;
Motivation and Incentives;
Value Creation;
Citation: Fruhan, William E. " Braddock Industries, Inc." Harvard Business School Case 211-061, April 2012. (Revised from original February 2011 version.)
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Teaching Note
| HBS Case Collection
|
2012
(Revised from original 2011 version)
Braddock Industries, Inc. (TN)
William E. Fruhan
Teaching Note for 211061.
Keywords: Value Creation;
Business and Shareholder Relations;
Motivation and Incentives;
Compensation and Benefits;
Economics;
Business Units;
Performance Evaluation;
Citation: Fruhan, William E. " Braddock Industries, Inc. (TN)." Harvard Business School Teaching Note 211-069, April 2012. (Revised from original February 2011 version.)
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Case
| HBS Case Collection
|
2011
Pacific Grove Spice Company
William E. Fruhan and Craig Stephenson
Pacific Grove Spice Company is a profitable, rapidly growing manufacturer, marketer, and distributor of quality spices and seasonings. The company's business model requires significant investment in accounts receivable, inventory, and fixed assets to support sales. Although the company is profitable and all of its net income is reinvested in the firm, the firm must utilize significant amounts of debt to fund the necessary growth in assets to support sales. The bank is concerned about the total amount of interest-bearing debt on Pacific's balance sheet and has asked the company to provide a plan to reduce it. Debra Peterson, president and CEO, believes the current four-year financial projections are reasonable and attainable. She is also considering three opportunities: sponsoring a cable cooking show, raising new capital by selling shares of common stock, and acquiring a privately owned spice company. Students must analyze the company's financial projections to determine if the reduction in debt meets the bank's requirements. They must also analyze the opportunities and consider their individual and combined impacts on the company's financial position. The case illustrates the interaction between investment and financing decisions. This multifaceted case can be taught in a single class session or extended over several sessions and can be used as a final exam for an introductory MBA-level Finance course.
Keywords: capital budgeting;
Capital expenditures;
Investments;
Acquisitions;
Securities analysis;
valuation;
Debt Securities;
Opportunities;
Cost of Capital;
Valuation;
Investment;
Capital Budgeting;
Business Model;
Cash Flow;
Financing and Loans;
Acquisition;
Retail Industry;
Food and Beverage Industry;
Citation: Fruhan, William E., and Craig Stephenson. " Pacific Grove Spice Company." Harvard Business School Brief Case 114-366, November 2011.
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Teaching Note
| HBS Case Collection
|
2011
Pacific Grove Spice Company (Brief Case)
William E. Fruhan, Jr. and Craig Stephenson
Teaching Note for Product Number 4366.
Keywords: capital budgeting;
Capital expenditures;
Investments;
Acquisitions;
Securities analysis;
valuation;
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Supplement
| HBS Case Collection
|
2011
Pacific Grove Spice Company, Spreadsheet Supplement (Brief Case)
William E. Fruhan, Jr. and Craig Stephenson
Keywords: valuation;
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Supplement
| HBS Case Collection
|
2011
Pacific Grove Spice Company, Faculty Spreadsheet (Brief Case)
William E. Fruhan, Jr. and Craig Stephenson
Keywords: valuation;
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Teaching Note
| HBS Case Collection
|
2011
(Revised from original 2007 version)
Nike Inc. - Heading Toward 2012 (TN)
William E. Fruhan Jr.
Keywords: Apparel and Accessories Industry;
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Background Note
| HBS Case Collection
|
2011
(Revised from original 2008 version)
Note: Credit Rating Agencies
William E. Fruhan
The note examines the role of credit rating agencies in capital markets, with emphasis on the role of these agencies in the recent credit crisis and recommendations for change.
Keywords: Financial Crisis;
Capital Markets;
Credit;
Governing Rules, Regulations, and Reforms;
Standards;
Citation: Fruhan, William E. " Note: Credit Rating Agencies." Harvard Business School Background Note 209-056, September 2011. (Revised from original September 2008 version.)
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Case
| HBS Case Collection
|
2011
(Revised from original 2007 version)
Nike Inc. - Heading Toward 2012
William E. Fruhan Jr.
This is a short case (2 pages), which can be distributed and discussed in class as an update through 2006 of the Nike case series. It follows Nike, Inc.: Entering the Millennium (Case #299-084).
Keywords: Business History;
Brands and Branding;
Apparel and Accessories Industry;
Retail Industry;
Citation: Fruhan, William E., Jr. " Nike Inc. - Heading Toward 2012." Harvard Business School Case 207-105, July 2011. (Revised from original March 2007 version.)
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Background Note
| HBS Case Collection
|
2011
(Revised from original 2009 version)
Note: Fair Value Accounting for Investments in Debt Securities
William E. Fruhan
The note describes how fair value accounting applies to debt securities that are classified by financial institutions as (1) "trading" securities, (2) "available for sale" securities, or (3) "hold to maturity" securities. It explains the hierarchy for inputs used in valuing Level 1, Level 2, and Level 3 financial assets. Finally, it notes the percentage of assets held by four types of financial institutions that are (a) accounted for at "fair value," (b) the hierarchical categorization of the assets, and (c) the percentage of assets held by each institution category where changes in the fair market value affect that institution's reported income.
Keywords: Fair Value Accounting;
Financial Reporting;
Assets;
Debt Securities;
Investment;
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Teaching Note
| HBS Case Collection
|
2011
(Revised from original 2009 version)
State Street Corporation (TN)
William E. Fruhan
Teaching Note for [209112].
Citation: Fruhan, William E. " State Street Corporation (TN)." Harvard Business School Teaching Note 209-136, February 2011. (Revised from original March 2009 version.)
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Case
| HBS Case Collection
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2011
Stanley Black & Decker, Inc.
William E. Fruhan
This case allows instructors to explore shareholder value creation and transfer opportunities in merger and acquisition transactions. It also invites an examination of corporate governance issues surrounding CEO compensation. This case is quite brief (a total of 4 pages) so the balance between thinking time and reading set-up time for students is quite attractive.
Keywords: Mergers and Acquisitions;
Corporate Governance;
Executive Compensation;
Business and Shareholder Relations;
Value Creation;
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Case
| HBS Case Collection
|
2010
Flash Memory, Inc.
William E. Fruhan and Craig Stephenson
The CFO of Flash Memory, Inc. prepares the company's investing and financing plans for the next three years. Flash Memory is a small firm that specializes in the design and manufacture of solid state drives (SSDs) and memory modules for the computer and electronics industries. The company invests aggressively in research and development of new products to stay ahead of the competition. Increased working capital requirements force the CFO to consider alternatives for additional financing. In addition, he must also consider an investment opportunity in a new product line that has the potential to be extremely profitable. Students must prepare financial forecasts, calculate the weighted average cost of capital (WACC), estimate cash flows, and evaluate financing alternatives. This case is especially recommended as a final exam case for a standard MBA-level course in corporate finance.
Keywords: Cash flow;
Forecasting;
capital budgeting;
Cash Flow;
Forecasting and Prediction;
Capital Budgeting;
Computer Industry;
Electronics Industry;
United States;
Citation: Fruhan, William E., and Craig Stephenson. " Flash Memory, Inc." Harvard Business School Brief Case 104-230, August 2010.
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Teaching Note
| HBS Case Collection
|
2010
Flash Memory, Inc. (Brief Case)
William E. Fruhan Jr. and Craig Stephenson
Teaching Note for 4230.
Keywords: Cash flow;
Forecasting;
capital budgeting;
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Supplement
| HBS Case Collection
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2010
Flash Memory, Inc., Spreadsheet Supplement (Brief Case)
William E. Fruhan, Jr. and Craig Stephenson
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Supplement
| HBS Case Collection
|
2010
Flash Memory, Inc., Faculty Spreadsheet Supplement (Brief Case)
William E. Fruhan, Jr. and Craig Stephenson
Keywords: Cash flow;
Forecasting;
capital budgeting;
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Case
| HBS Case Collection
|
2010
(Revised from original 2009 version)
State Street Corporation
William E. Fruhan
To maximize their effectiveness, color cases should be printed in color. State Street Corp. reports a 13% gain in EPS in 2008 amidst a global financial crisis. The stock price declines 59% on the day of the earnings report. This one day decline was exceeded in the prior 12 month period by only one non-bankrupt S&P 500 company. That company was AIG, Inc. which declined 61 % on the day Lehman Brothers declared bankruptcy. While State Street reported $5.0 billion in profits over the 4-year period 2005-2008, the company also sustained $10.0 billion in after tax mark-to-market losses on its "available for sale" investment portfolio and the investment portfolios of its conduits. The question is, how has the firm performed over the past four years? Has it earned $5.0 billion or lost $5.0 billion? Fair value accounting plays a key role in the dilemma. How should a financial services firm measure and report income in the face of disorderly and illiquid markets for its principal assets? The case also examines how management at State Street responded to the deterioration in its capital ratios generated by "fair value" accounting.
Keywords: Fair Value Accounting;
Financial Reporting;
Financial Crisis;
Financial Liquidity;
Financial Markets;
Crisis Management;
Financial Services Industry;
Citation: Fruhan, William E. " State Street Corporation." Harvard Business School Case 209-112, July 2010. (Revised from original March 2009 version.)
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Background Note
| HBS Case Collection
|
2010
(Revised from original 2008 version)
The Hedge Fund Industry
William E. Fruhan Jr.
This note describes the hedge fund industry as of the end of the year 2007.
Keywords: Investment Return;
Investment Funds;
Investment Portfolio;
Financial Services Industry;
Citation: Fruhan, William E., Jr. " The Hedge Fund Industry." Harvard Business School Background Note 208-126, April 2010. (Revised from original April 2008 version.)
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Background Note
| HBS Case Collection
|
2010
(Revised from original 2009 version)
Restructuring Distressed Companies -- Cross-National Comparisons
William E. Fruhan
This note describes briefly bankruptcy regimes and out of court restructuring in 5 countries, the U.S., the U.K., Germany, France and Japan.
Keywords: Restructuring;
Insolvency and Bankruptcy;
Cross-Cultural and Cross-Border Issues;
Laws and Statutes;
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Case
| HBS Case Collection
|
2010
Saginaw Parts Co. and the General Motors Corp. Credit Default Swap
William E. Fruhan
This two-page case demonstrates how to unbundle the cost of credit extensions from product prices by observing the price of a credit default swap. It also explores how credit default swaps work, and how trade creditors are treated under U.S. bankruptcy law. Finally it provides a quick overview of the bankruptcy of General Motors Corp.
Keywords: Trade;
Credit;
Insolvency and Bankruptcy;
Credit Derivatives and Swaps;
Laws and Statutes;
Risk Management;
Auto Industry;
United States;
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Teaching Note
| HBS Case Collection
|
2010
Saginaw Parts Co. and the General Motors Corp. Credit Default Swap (TN)
William E. Fruhan
Teaching Note for [210056].
Keywords: Credit Derivatives and Swaps;
Insolvency and Bankruptcy;
Law;
Cost of Capital;
United States;
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Teaching Note
| HBS Case Collection
|
2009
Nike, Inc.--Entering the Millennium (TN)
William E. Fruhan
Teaching Note for 299084.
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Case
| HBS Case Collection
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2008
(Revised from original 2007 version)
The Case of the Unidentified Industries - 2006
William E. Fruhan Jr.
Helps students to understand how the characteristics of a business are reflected in its financial statements.
Keywords: Financial Statements;
Business Ventures;
Forecasting and Prediction;
Financial Management;
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Case
| HBS Case Collection
|
2008
(Revised from original version)
Congoleum Corp. (Abridged)
William E. Fruhan Jr.
Describes the development and terms of the largest leveraged buyout up to the date of the case. The main problem is to value the positions of the various participants: lenders, equity holders, investment bankers, and management. This is an abridged version of an earlier case by D.W. Mullins, Jr.
Keywords: Leveraged Buyouts;
Mergers and Acquisitions;
Financial Management;
Negotiation Participants;
Valuation;
Citation: Fruhan, William E., Jr. " Congoleum Corp. (Abridged)." Harvard Business School Case 287-029, February 2008. (Revised from original October 1986 version.)
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Case
| HBS Case Collection
|
2007
(Revised from original 1993 version)
Duckworth Industries, Inc.--Incentive Compensation Programs
William E. Fruhan Jr.
A private company is considering an introduction of a long-run incentive compensation system in which payoffs to managers are determined by the economic value added for shareholders by their individual business units. The proposed new system is compared to a number of earlier incentive schemes utilized by the firm.
Keywords: Executive Compensation;
Management Teams;
Business and Shareholder Relations;
Motivation and Incentives;
Value Creation;
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Teaching Note
| HBS Case Collection
|
2007
The Case of the Unidentified Industries - 2006 (TN)
William E. Fruhan Jr.
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Teaching Note
| HBS Case Collection
|
2006
The Capital Structure Decision - Underlying Theory (TN)
William E. Fruhan Jr.
Keywords: Capital Structure;
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Case
| HBS Case Collection
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2006
(Revised from original 1987 version)
Arley Merchandise Corporation
William E. Fruhan Jr.
Involves the initial public offering of a firm's stock. The offering includes a money-back guarantee to investors from the issuing firm which comes in the form of a "put" option. Option valuation is thus an important issue in this case.
Keywords: Initial Public Offering;
Stocks;
Cases;
Valuation;
Stock Options;
Apparel and Accessories Industry;
Service Industry;
Citation: Fruhan, William E., Jr. " Arley Merchandise Corporation." Harvard Business School Case 287-063, March 2006. (Revised from original February 1987 version.)
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Teaching Note
| HBS Case Collection
|
2005
(Revised from original 2004 version)
Offshoring at Global Information Systems, Inc. (TN)
William E. Fruhan Jr.
Teaching Note to (9-204-144).
Keywords: Job Cuts and Outsourcing;
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Case
| HBS Case Collection
|
2005
(Revised from original 2004 version)
Offshoring at Global Information Systems, Inc.
William E. Fruhan Jr.
This case explores the topic of offshoring high-tech jobs several perspectives. The issues presented include determining the stock price consequences of offshoring, examining the economic consequences of the offshore job to both the transferring and receiving countries, considering the competitive consequences of not offshoring, and thinking through the challenge of investing in a career that is vulnerable to future offshoring.
Keywords: Economy;
Stocks;
Job Cuts and Outsourcing;
Personal Development and Career;
Competition;
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Teaching Note
| HBS Case Collection
|
2004
Yield Curves and Bond Ratings Tutorial (TN)
William E. Fruhan Jr.
Teaching Note to (9-204-712).
Keywords: Online Technology;
Education;
Debt Securities;
Service Operations;
Measurement and Metrics;
Performance Evaluation;
Education Industry;
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Case
| HBS Case Collection
|
2004
(Revised from original 1982 version)
Esmark, Inc. (B)
William E. Fruhan Jr.
Esmark's management sells its most valuable business and its most unattractive business in an effort to reposition itself and maximize shareholder value.
Keywords: Business Exit or Shutdown;
Product Positioning;
Business and Shareholder Relations;
Reputation;
Value;
Citation: Fruhan, William E., Jr. " Esmark, Inc. (B)." Harvard Business School Case 283-014, July 2004. (Revised from original July 1982 version.)
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Tutorial
|
2004
Yield Curves and Bond Ratings Tutorial
William E. Fruhan Jr.
To preview this online product, Authorized Faculty can call our customer service department at 1-800-545-7685 or 617-783-7600. This online tutorial explains what drives the shape of the yield curve for traded debt securities. Also describes the metrics used by rating agencies to evaluate both corporate and sovereign debt. Presents data that show median values for a number of key rating metrics. To order this Web-delivered product, call our customer service department at 1-800-545-7685 or 617-783-7600.
Keywords: Bonds;
Investment Return;
Financial Services Industry;
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Teaching Note
| HBS Case Collection
|
2004
(Revised from original 1996 version)
Arley Merchandise Corporation TN
William E. Fruhan Jr. and Andre F. Perold
Teaching Note for (9-287-063).
Keywords: Apparel and Accessories Industry;
Service Industry;
Citation: Fruhan, William E., Jr., and Andre F. Perold. " Arley Merchandise Corporation TN." Harvard Business School Teaching Note 296-070, January 2004. (Revised from original February 1996 version.)
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Case
| HBS Case Collection
|
2003
(Revised from original 2003 version)
STMicroelectronics N.V., 2003 Convertible Bond Offering
William E. Fruhan Jr.
Focuses on the valuation of a complex option embedded in a convertible debenture with a negative yield to maturity.
Keywords: Bonds;
Valuation;
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Teaching Note
| HBS Case Collection
|
2003
STMicroelectronics N.V., 2003 Convertible Bond Offering (TN)
William E. Fruhan Jr.
Teaching Note to (9-204-092).
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Case
| HBS Case Collection
|
2003
(Revised from original 1996 version)
Crown Cork & Seal/CarnaudMetalbox
William E. Fruhan Jr. and William DeWitt
A U.S. packaging firm acquires a French packaging firm with the objective of creating the largest global packaging firm in the world.
Citation: Fruhan, William E., Jr., and William DeWitt. " Crown Cork & Seal/CarnaudMetalbox." Harvard Business School Case 296-019, September 2003. (Revised from original April 1996 version.)
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Case
| HBS Case Collection
|
2003
(Revised from original 2002 version)
Restructuring the U.S. Steel Industry
William E. Fruhan Jr.
Focuses on the competitive decline of the integrated steel producers in the United States from 1970 to 2002. Issues include: Should the U.S. government impose tariffs to try to protect the industry? What should labor unions do, if anything, to protect jobs and wage rates of employees in failing companies?
Keywords: Restructuring;
Jobs and Positions;
Labor Unions;
Wages;
Business and Government Relations;
Integration;
Steel Industry;
United States;
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Exercise
|
2003
Restructuring the U.S. Steel Industry: Spreadsheet Exercise
William E. Fruhan Jr.
Description of an EXCEL spreadsheet exercise to test the impact of changes in wage rates on the value of debt and equity securities.
Keywords: Equity;
Debt Securities;
Valuation;
Wages;
Restructuring;
Steel Industry;
Citation: Fruhan, William E., Jr. "Restructuring the U.S. Steel Industry: Spreadsheet Exercise." Harvard Business School Exercise 203-070, February 2003.
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Teaching Note
| HBS Case Collection
|
2003
Restructuring the U.S. Steel Industry (TN)
William E. Fruhan Jr.
Teaching Note for (9-203-042).
Keywords: Steel Industry;
United States;
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Supplement
| HBS Case Collection
|
2003
Steel Cash
William E. Fruhan Jr. and Katherine A. Codega
Spreadsheet to (9-203-042). Test the impact of changes in wage rates on the value of debt and equity securities. Download only.
Keywords: Change;
Equity;
Debt Securities;
Wages;
Citation: Fruhan, William E., Jr., and Katherine A. Codega. " Steel Cash." Harvard Business School Spreadsheet Supplement 203-703, February 2003.
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Background Note
| HBS Case Collection
|
2002
Note on the Equivalency of Methods for Discounting Cash Flows
William E. Fruhan Jr.
Uses a numerical example to demonstrate that when you discount the cash flows to capital from a project at the weighted average cost of capital, you get same net present value result as you obtain when discounting the cash flows to equity at the cost of equity. Also demonstrates why it is far easier to do a net present value calculation using the weighted average cost of capital (assuming a fixed debt ratio and market value weights) than it is to do the same calculation using the cost of equity.
Keywords: Capital Structure;
Cash Flow;
Cost of Capital;
Equity;
Valuation;
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Case
| HBS Case Collection
|
2001
(Revised from original 1995 version)
Microsoft/Intuit
William E. Fruhan Jr.
Microsoft Corp. proposes to acquire Intuit Corp. Examines the strategic fit and the price proposed to complete the transaction.
Citation: Fruhan, William E., Jr. " Microsoft/Intuit." Harvard Business School Case 295-121, November 2001. (Revised from original May 1995 version.)
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Case
| HBS Case Collection
|
2001
(Revised from original 1999 version)
Nike, Inc.--Entering the Millennium
William E. Fruhan Jr.
Traces the evolution of Nike from 1987 through 1998. Through a series of eight assignment questions, it examines how the company has created and sustained a competitive advantage, and how that competitive advantage is reflected in growth, profitability, and share price performance.
Keywords: Competitive Advantage;
Profit;
Corporate Strategy;
Business Growth and Maturation;
Sports Industry;
Apparel and Accessories Industry;
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Teaching Note
| HBS Case Collection
|
2001
(Revised from original 1996 version)
Case of the Unidentified Industries--1995, The TN
William E. Fruhan Jr.
Teaching Note for (9-296-049).
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Teaching Note
| HBS Case Collection
|
1998
(Revised from original 1996 version)
General Mills, Inc.: Appendix of Comparable Company Data TN
William E. Fruhan Jr.
Teaching Note for (9-197-037).
Keywords: Food and Beverage Industry;
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Background Note
| HBS Case Collection
|
1998
Note on Alternative Methods for Estimating Terminal Value
William E. Fruhan Jr.
Reviews basic techniques for estimating terminal value in the valuation of businesses. Among the techniques discussed are perpetuities, growing perpetuities, use of multiples, and liquidation value. A rewritten version of an earlier note.
Keywords: Financial Liquidity;
Bonds;
Valuation;
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Case
| HBS Case Collection
|
1998
(Revised from original 1989 version)
Dynatronics, Inc.
William E. Fruhan Jr.
The student must determine the financing requirements posed by growth, change of inventory policy, and introduction of new product and then select the best method of financing them. Has been used as a four-hour exam. A revised and updated version of an earlier case by L.E. Thompson and V.L. Andrews.
Keywords: Financial Strategy;
Financing and Loans;
Growth and Development;
Product Launch;
Citation: Fruhan, William E., Jr. " Dynatronics, Inc." Harvard Business School Case 289-063, April 1998. (Revised from original May 1989 version.)
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Teaching Note
| HBS Case Collection
|
1998
Crown Cork & Seal/CarnaudMetalbox TN
William E. Fruhan Jr.
Teaching Note for (9-296-019).
Keywords: Service Industry;
United States;
France;
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Teaching Note
| HBS Case Collection
|
1998
American Distilling Company (A) TN
William E. Fruhan Jr.
Keywords: Food and Beverage Industry;
Citation: Fruhan, William E., Jr. "American Distilling Company (A) TN." Harvard Business School Teaching Note 298-110, March 1998.
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Teaching Note
| HBS Case Collection
|
1998
American Distilling Company (B) TN
William E. Fruhan Jr.
Keywords: Food and Beverage Industry;
Citation: Fruhan, William E., Jr. "American Distilling Company (B) TN." Harvard Business School Teaching Note 298-111, March 1998.
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Teaching Note
| HBS Case Collection
|
1998
Esmark, Inc. (A) TN
William E. Fruhan Jr.
Teaching Note for (9-283-013).
Keywords: Food and Beverage Industry;
Citation: Fruhan, William E., Jr. " Esmark, Inc. (A) TN." Harvard Business School Teaching Note 298-112, March 1998.
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Teaching Note
| HBS Case Collection
|
1998
Esmark, Inc. (B) TN
William E. Fruhan Jr.
Teaching Note for (9-283-014).
Citation: Fruhan, William E., Jr. " Esmark, Inc. (B) TN." Harvard Business School Teaching Note 298-113, March 1998.
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Teaching Note
| HBS Case Collection
|
1998
Kennecott Copper Corporation TN
William E. Fruhan Jr.
Teaching Note for (9-278-143).
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Teaching Note
| HBS Case Collection
|
1998
Kennecott Corp. (B), Teaching Note
William E. Fruhan Jr.
Citation: Fruhan, William E., Jr. "Kennecott Corp. (B), Teaching Note." Harvard Business School Teaching Note 298-105, February 1998.
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Teaching Note
| HBS Case Collection
|
1997
Microsoft/Intuit TN
William E. Fruhan Jr.
Teaching Note for (9-295-121).
Citation: Fruhan, William E., Jr. " Microsoft/Intuit TN." Harvard Business School Teaching Note 297-087, April 1997.
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Case
| HBS Case Collection
|
1996
(Revised from original 1991 version)
Pressco, Inc.--1985
William E. Fruhan Jr.
A capital budgeting problem is viewed from the context of a marketing representative attempting to make a sale of energy saving heavy industrial equipment. Tax law changes promise to have a significant impact on the customer's decision process. Teaching purpose: To surround the capital budgeting decision with the complexities often found in the actual decision making process. These include taxes, inflation rates, and uncertainty about cost savings to be realized.
Keywords: Capital Budgeting;
Machinery and Machining;
Valuation;
Taxation;
Customer Value and Value Chain;
Cost vs Benefits;
Inflation and Deflation;
Cost Management;
Product Marketing;
North and Central America;
Citation: Fruhan, William E., Jr. " Pressco, Inc.--1985." Harvard Business School Case 292-085, December 1996. (Revised from original November 1991 version.)
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Teaching Note
| HBS Case Collection
|
1996
(Revised from original version)
Duckworth Industries, Inc.--Incentive Compensation Programs TN
William E. Fruhan Jr.
Teaching Note for (9-293-091).
Keywords: Compensation and Benefits;
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Case
| HBS Case Collection
|
1996
Case of the Unidentified Industries--1995, The
William E. Fruhan Jr.
Helps students to understand how the characteristics of a business are reflected in its financial statements.
Keywords: Financial Management;
Financial Condition;
Forecasting and Prediction;
Financial Statements;
Corporate Finance;
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Case
| HBS Case Collection
|
1995
(Revised from original 1980 version)
American Chemical Corp.
William E. Fruhan Jr. and John P. Goldsberry III
A large chemical manufacturer divests a plant that is acquired by a small specialty chemicals manufacturer. The acquisition decision is viewed from the vantage point of the small specialty chemicals manufacturer.
Keywords: Mergers and Acquisitions;
Chemicals;
Factories, Labs, and Plants;
Decision Making;
Manufacturing Industry;
Chemical Industry;
Citation: Fruhan, William E., Jr., and John P. Goldsberry III. " American Chemical Corp." Harvard Business School Case 280-102, December 1995. (Revised from original March 1980 version.)
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Case
| HBS Case Collection
|
1995
(Revised from original version)
Globe Industries, Inc. (A)
William E. Fruhan Jr.
Citation: Fruhan, William E., Jr. " Globe Industries, Inc. (A)." Harvard Business School Case 282-035, March 1995. (Revised from original October 1981 version.)
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Case
| HBS Case Collection
|
1995
(Revised from original version)
Globe Industries, Inc. (B)
William E. Fruhan Jr.
Citation: Fruhan, William E., Jr. " Globe Industries, Inc. (B)." Harvard Business School Case 282-036, March 1995. (Revised from original October 1981 version.)
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Case
| HBS Case Collection
|
1995
(Revised from original version)
Globe Industries, Inc. (C)
William E. Fruhan Jr.
Citation: Fruhan, William E., Jr. " Globe Industries, Inc. (C)." Harvard Business School Case 282-037, March 1995. (Revised from original October 1981 version.)
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Background Note
| HBS Case Collection
|
1994
(Revised from original version)
Capital Structure Decision: Underlying Theory
William E. Fruhan Jr.
Demonstrates hypothetically and numerically the share price valuation impact of changes in a firm's capital structure.
Keywords: Capital Structure;
Decisions;
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Case
| HBS Case Collection
|
1994
(Revised from original 1994 version)
KENETECH Corporation
William E. Fruhan Jr.
Involves a strategic decision about how fast to ramp up sales. Improvements in technology have driven down the cost of electric power generated from wind turbines to the point where they are competitive with fossil-fuel plants. KENETECH needs to raise equity capital to finance its growth. A fast growth strategy requires a greater amount of capital to be raised prior to the time when the new technology is fully proven, possibly requiring a lower per share stock price in an initial public offering. A slower growth strategy may allow powerful competitors time to enter the market, limiting KENETECH's total share of the wind turbine market.
Keywords: Renewable Energy;
Borrowing and Debt;
Equity;
Initial Public Offering;
Growth and Development Strategy;
Market Entry and Exit;
Going Public;
Sales;
Competition;
Energy Industry;
Citation: Fruhan, William E., Jr. " KENETECH Corporation." Harvard Business School Case 294-111, September 1994. (Revised from original April 1994 version.)
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Teaching Note
| HBS Case Collection
|
1994
KENETECH Corporation TN
William E. Fruhan Jr.
Teaching Note for (9-294-111).
Keywords: Energy Industry;
Citation: Fruhan, William E., Jr. " KENETECH Corporation TN." Harvard Business School Teaching Note 295-032, September 1994.
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Case
| HBS Case Collection
|
1994
Intuit, Inc.
William E. Fruhan Jr.
The merger of two computer software firms with very rapidly growing non-overlapping products makes great strategic sense, but presents difficult valuation and accounting problems. How can a firm pay $225 million to acquire another firm with negligible current earnings, and which promises to produce an immediate $150 MM one-time charge to earnings which will be followed over a five-year period by $65 million of amortization of intangible assets?
Keywords: Valuation;
Software;
Mergers and Acquisitions;
Accounting;
Financial Strategy;
Goodwill Accounting;
Corporate Finance;
Information Technology Industry;
United States;
Citation: Fruhan, William E., Jr. " Intuit, Inc." Harvard Business School Case 295-028, August 1994.
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Case
| HBS Case Collection
|
1994
(Revised from original version)
Levitz Furniture Corp.
William E. Fruhan Jr.
Keywords: Manufacturing Industry;
Citation: Fruhan, William E., Jr. " Levitz Furniture Corp." Harvard Business School Case 274-117, June 1994. (Revised from original December 1973 version.)
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Background Note
| HBS Case Collection
|
1993
(Revised from original 1989 version)
Note: Valuing a Business Acquisition Opportunity
William E. Fruhan Jr.
Describes how to value an acquisition opportunity as a capital budgeting problem. Cash flows are discounted at the cost of capital and debt is deducted to value the equity capital of the target company. A key contribution of the note is the discussion of five methods for establishing a terminal value for future cash flows extending beyond the normal planning horizon.
Keywords: Valuation;
Acquisition;
Opportunities;
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Case
| HBS Case Collection
|
1993
(Revised from original 1993 version)
Friendly Cards, Inc.
William E. Fruhan Jr.
Involves analysis of a major capital investment proposal, an acquisition of another company, an estimate of the funds required for these two possible outlays, and a recommended course of management action.
Keywords: Mergers and Acquisitions;
Capital;
Capital Budgeting;
Investment;
Citation: Fruhan, William E., Jr. " Friendly Cards, Inc." Harvard Business School Case 293-135, June 1993. (Revised from original May 1993 version.)
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Case
| HBS Case Collection
|
1993
(Revised from original 1981 version)
Harris Seafoods, Inc.
William E. Fruhan Jr. and William A. Sahlman
Presents data relevant to a major capital expenditure--the construction of a shrimp plant. Designed to test student's ability to identify relevant cash flows, to estimate the cost of capital, and to decide whether or not to invest.
Keywords: Decision Making;
Cash Flow;
Cost of Capital;
Factories, Labs, and Plants;
Food and Beverage Industry;
Agriculture and Agribusiness Industry;
Citation: Fruhan, William E., Jr., and William A. Sahlman. " Harris Seafoods, Inc." Harvard Business School Case 281-054, June 1993. (Revised from original February 1981 version.)
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Background Note
| HBS Case Collection
|
1993
(Revised from original 1992 version)
Finance Course Overview
William E. Fruhan Jr.
Keywords: Finance;
Curriculum and Courses;
Citation: Fruhan, William E., Jr. " Finance Course Overview." Harvard Business School Background Note 293-081, May 1993. (Revised from original November 1992 version.)
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Teaching Note
| HBS Case Collection
|
1993
(Revised from original version)
Kyocera/AVX, Teaching Note
William E. Fruhan Jr.
Citation: Fruhan, William E., Jr. "Kyocera/AVX, Teaching Note." Harvard Business School Teaching Note 292-130, March 1993. (Revised from original June 1992 version.)
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Case
| HBS Case Collection
|
1992
(Revised from original version)
Kyocera/AVX
William E. Fruhan Jr.
Keywords: Technology Industry;
Telecommunications Industry;
Citation: Fruhan, William E., Jr. " Kyocera/AVX." Harvard Business School Case 291-003, February 1992. (Revised from original July 1990 version.)
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Case
| HBS Case Collection
|
1992
(Revised from original version)
Meiwa/Citicorp
William E. Fruhan Jr.
Keywords: Financial Services Industry;
Citation: Fruhan, William E., Jr. " Meiwa/Citicorp." Harvard Business School Case 291-004, February 1992. (Revised from original July 1990 version.)
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Teaching Note
| HBS Case Collection
|
1992
Southport Minerals, Inc. TN
William E. Fruhan Jr.
Teaching Note for (9-274-110).
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Teaching Note
| HBS Case Collection
|
1992
Dynatronics TN
William E. Fruhan Jr.
Teaching Note for (9-289-063).
Citation: Fruhan, William E., Jr. " Dynatronics TN." Harvard Business School Teaching Note 292-049, January 1992.
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Teaching Note
| HBS Case Collection
|
1992
Tandy Corporation (A) TN
William E. Fruhan Jr.
Keywords: Retail Industry;
Electronics Industry;
Citation: Fruhan, William E., Jr. "Tandy Corporation (A) TN." Harvard Business School Teaching Note 292-015, January 1992.
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Teaching Note
| HBS Case Collection
|
1992
Pressco, Inc. (1985) TN
William E. Fruhan Jr.
Teaching Note for (9-292-085).
Keywords: North and Central America;
Citation: Fruhan, William E., Jr. " Pressco, Inc. (1985) TN." Harvard Business School Teaching Note 292-016, January 1992.
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Teaching Note
| HBS Case Collection
|
1992
MRC, Inc. (A) TN
William E. Fruhan Jr.
Teaching Note for (9-274-118).
Keywords: Valuation;
Acquisition;
Organizations;
Perspective;
Negotiation Deal;
Strategy;
Citation: Fruhan, William E., Jr. " MRC, Inc. (A) TN." Harvard Business School Teaching Note 292-044, January 1992.
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Teaching Note
| HBS Case Collection
|
1992
Communications Satellite Corporation TN
William E. Fruhan Jr.
Teaching Note for (9-276-195).
Keywords: Cost of Capital;
Equity;
Risk and Uncertainty;
Communications Industry;
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Teaching Note
| HBS Case Collection
|
1992
Carrefour S.A. TN
William E. Fruhan Jr.
Teaching Note for (9-273-099).
Keywords: Retail Industry;
Citation: Fruhan, William E., Jr. " Carrefour S.A. TN." Harvard Business School Teaching Note 292-045, January 1992.
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Teaching Note
| HBS Case Collection
|
1992
Note on the Theory of Optimal Capital Structure TN
William E. Fruhan Jr.
Teaching Note for (9-279-069).
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Teaching Note
| HBS Case Collection
|
1992
Colt Industries, Inc. TN
William E. Fruhan Jr.
Teaching Note for (9-289-012).
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Case
| HBS Case Collection
|
1990
(Revised from original 1973 version)
Carrefour S.A.
William E. Fruhan Jr.
Involves a very rapidly growing retail chain that is financing itself in an unusual (and at first glance) risky fashion.
Keywords: Growth and Development Strategy;
Financing and Loans;
Risk and Uncertainty;
Retail Industry;
Citation: Fruhan, William E., Jr. " Carrefour S.A." Harvard Business School Case 273-099, September 1990. (Revised from original January 1973 version.)
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Case
| HBS Case Collection
|
1990
(Revised from original version)
Kelor Chemical Corp. (A)
William E. Fruhan Jr.
Citation: Fruhan, William E., Jr. " Kelor Chemical Corp. (A)." Harvard Business School Case 274-108, September 1990. (Revised from original November 1973 version.)
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Case
| HBS Case Collection
|
1988
Holiday Greetings, Inc. (Abridged)
William E. Fruhan Jr., Dwight B. Crane and Jonathan Tiemann
Keywords: Consumer Products Industry;
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Background Note
| HBS Case Collection
|
1988
(Revised from original version)
Note on Financing the Working Capital Cycle
William E. Fruhan Jr.
Keywords: Working Capital;
Finance;
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Case
| HBS Case Collection
|
1987
(Revised from original version)
Kennecott Corp. (B)
William E. Fruhan Jr.
Citation: Fruhan, William E., Jr. " Kennecott Corp. (B)." Harvard Business School Case 282-001, November 1987. (Revised from original November 1981 version.)
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Case
| HBS Case Collection
|
1987
(Revised from original 1986 version)
Pressco, Inc.--1984
William E. Fruhan Jr.
A marketing representative of heavy industrial equipment needs to evaluate the net present value of his equipment from the perspective of the buyer under changing tax regulations.
Keywords: Machinery and Machining;
Valuation;
Product Positioning;
Performance Evaluation;
Taxation;
Price;
United States;
Citation: Fruhan, William E., Jr. " Pressco, Inc.--1984." Harvard Business School Case 287-025, August 1987. (Revised from original September 1986 version.)
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Background Note
| HBS Case Collection
|
1987
(Revised from original version)
Note on Restructuring Meat Packers in the 1980s
William E. Fruhan Jr.
Keywords: Food and Beverage Industry;
Agriculture and Agribusiness Industry;
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Case
| HBS Case Collection
|
1987
(Revised from original version)
Standard Oil Co.: Oil Indexed Units
William E. Fruhan Jr.
Keywords: Valuation;
Energy Industry;
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Case
| HBS Case Collection
|
1986
Selected Investment Alternatives
William E. Fruhan Jr.
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Case
| HBS Case Collection
|
1986
(Revised from original version)
PQ Corp.: Adjustable Tender Security
William E. Fruhan Jr.
Keywords: Financial Instruments;
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Case
| HBS Case Collection
|
1986
Fred Johnson's Adjustable Rate Convertible Note, Software Case
William E. Fruhan Jr.
Keywords: Financial Instruments;
Financial Services Industry;
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Case
| HBS Case Collection
|
1986
Harris Seafoods, Inc., Software Case
William E. Fruhan Jr.
Keywords: Food and Beverage Industry;
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Case
| HBS Case Collection
|
1986
Hi-Tech Corp., Software Case
William E. Fruhan Jr.
Keywords: Technology Industry;
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Case
| HBS Case Collection
|
1986
(Revised from original version)
Fred Johnson's Adjustable Rate Convertible Note
William E. Fruhan Jr.
Keywords: Financial Instruments;
Valuation;
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Teaching Note
| HBS Case Collection
|
1985
Hi-Tech Corp., Teaching Note
William E. Fruhan Jr.
Teaching Note for (9-283-045).
Keywords: Technology Industry;
Europe;
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Case
| HBS Case Collection
|
1985
Revitalizing Businesses: Shareholder/Work Force Conflicts, Course Module
William E. Fruhan Jr.
Keywords: Business Ventures;
Conflict and Resolution;
Business and Shareholder Relations;
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Case
| HBS Case Collection
|
1984
(Revised from original version)
American Distilling Co. (A)
William E. Fruhan Jr.
Keywords: Health Industry;
Beauty and Cosmetics Industry;
Pharmaceutical Industry;
Citation: Fruhan, William E., Jr. " American Distilling Co. (A)." Harvard Business School Case 281-008, December 1984. (Revised from original July 1981 version.)
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Case
| HBS Case Collection
|
1984
(Revised from original version)
American Distilling Co. (B)
William E. Fruhan Jr.
Keywords: Health Industry;
Beauty and Cosmetics Industry;
Pharmaceutical Industry;
Citation: Fruhan, William E., Jr. " American Distilling Co. (B)." Harvard Business School Case 281-009, December 1984. (Revised from original July 1981 version.)
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Case
| HBS Case Collection
|
1984
(Revised from original version)
Esmark, Inc. (A)
William E. Fruhan Jr.
Involves the management of a firm with a market value of a going concern that is less than its breakup value. How does management maximize value for shareholders in this environment?
Keywords: Finance;
Markets;
Business and Shareholder Relations;
Value;
Food and Beverage Industry;
Citation: Fruhan, William E., Jr. " Esmark, Inc. (A)." Harvard Business School Case 283-013, December 1984. (Revised from original July 1982 version.)
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Case
| HBS Case Collection
|
1984
(Revised from original version)
Weirton Division, National Steel
William E. Fruhan Jr.
Keywords: Steel Industry;
Citation: Fruhan, William E., Jr. " Weirton Division, National Steel." Harvard Business School Case 284-040, December 1984. (Revised from original November 1983 version.)
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Case
| HBS Case Collection
|
1984
(Revised from original 1982 version)
Hi-Tech Corp.
Fred K. Foulkes and William E. Fruhan Jr.
Hi-Tech examines the financial implications of a reduction in the work force via a voluntary severance program which offers up to two and a half times annual pay if an employee voluntarily terminates employment.
Keywords: Job Cuts and Outsourcing;
Financial Management;
Retirement;
Employees;
Compensation and Benefits;
Corporate Finance;
Technology Industry;
Europe;
Citation: Foulkes, Fred K., and William E. Fruhan Jr. " Hi-Tech Corp." Harvard Business School Case 283-045, December 1984. (Revised from original December 1982 version.)
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Case
| HBS Case Collection
|
1984
Wilson Foods
William E. Fruhan Jr.
Keywords: Food and Beverage Industry;
Citation: Fruhan, William E., Jr. " Wilson Foods." Harvard Business School Case 285-005, November 1984.
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Case
| HBS Case Collection
|
1984
Systems Engineering Laboratories, Inc. (Abridged)
William E. Fruhan Jr. and Thomas R. Piper
Keywords: Computer Industry;
Electronics Industry;
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Case
| HBS Case Collection
|
1983
A&P--1981
William E. Fruhan Jr.
Keywords: Food and Beverage Industry;
Citation: Fruhan, William E., Jr. " A&P--1981." Harvard Business School Case 283-039, June 1983.
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Case
| HBS Case Collection
|
1983
(Revised from original version)
Kennecott Copper Corp.
William E. Fruhan Jr.
Involves a $550 million cash tender offer by Kennecott Copper Corp. for all of the outstanding common shares of the Carborundum Corp.
Keywords: Mergers and Acquisitions;
Cash;
Mining Industry;
Citation: Fruhan, William E., Jr. " Kennecott Copper Corp." Harvard Business School Case 278-143, June 1983. (Revised from original March 1978 version.)
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Background Note
| HBS Case Collection
|
1983
(Revised from original version)
Capital Structure Decision
William E. Fruhan Jr.
Keywords: Capital Structure;
Decision Making;
Citation: Fruhan, William E., Jr. " Capital Structure Decision." Harvard Business School Background Note 283-021, May 1983. (Revised from original August 1982 version.)
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Case
| HBS Case Collection
|
1983
(Revised from original version)
General Electric Co.--1970
William E. Fruhan Jr.
Keywords: Manufacturing Industry;
Consumer Products Industry;
Citation: Fruhan, William E., Jr. " General Electric Co.--1970." Harvard Business School Case 271-175, April 1983. (Revised from original April 1971 version.)
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Case
| HBS Case Collection
|
1983
(Revised from original version)
Southport Minerals, Inc.
William E. Fruhan Jr.
Examines how the attractiveness of an investment project can be enhanced by making financing and operating decisions which either manage investment returns or reduce project risks.
Keywords: Decisions;
Financing and Loans;
Investment;
Investment Return;
Risk Management;
Operations;
Projects;
Citation: Fruhan, William E., Jr. " Southport Minerals, Inc." Harvard Business School Case 274-110, April 1983. (Revised from original November 1973 version.)
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Background Note
| HBS Case Collection
|
1983
(Revised from original version)
Sulfur Industry, Background Note
William E. Fruhan Jr.
Keywords: Chemical Industry;
Citation: Fruhan, William E., Jr. " Sulfur Industry, Background Note." Harvard Business School Background Note 274-111, April 1983. (Revised from original November 1973 version.)
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Case
| HBS Case Collection
|
1982
Pressco, Inc. (ACRS)
William E. Fruhan Jr.
Citation: Fruhan, William E., Jr. " Pressco, Inc. (ACRS)." Harvard Business School Case 282-069, February 1982.
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Supplement
| HBS Case Collection
|
1981
American Distilling Co. (C)
William E. Fruhan Jr.
Keywords: Food and Beverage Industry;
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Supplement
| HBS Case Collection
|
1981
American Distilling Co. (D)
William E. Fruhan Jr.
Keywords: Food and Beverage Industry;
-
Supplement
| HBS Case Collection
|
1981
American Distilling Co. (E)
William E. Fruhan Jr.
Keywords: Food and Beverage Industry;
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Case
| HBS Case Collection
|
1980
(Revised from original version)
Pressco, Inc. (Abridged)
William E. Fruhan Jr.
Citation: Fruhan, William E., Jr. " Pressco, Inc. (Abridged)." Harvard Business School Case 280-120, September 1980. (Revised from original June 1980 version.)
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Case
| HBS Case Collection
|
1980
(Revised from original version)
General Public Utilities Corp. (B)
John H. McArthur and William E. Fruhan Jr.
Keywords: Utilities Industry;
Citation: McArthur, John H., and William E. Fruhan Jr. " General Public Utilities Corp. (B)." Harvard Business School Case 213-119, April 1980. (Revised from original October 1969 version.)
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Case
| HBS Case Collection
|
1980
(Revised from original version)
Coalfield Railroad Co., Inc.
William E. Fruhan Jr.
Keywords: Rail Industry;
Citation: Fruhan, William E., Jr. " Coalfield Railroad Co., Inc." Harvard Business School Case 280-090, March 1980. (Revised from original February 1980 version.)
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Case
| HBS Case Collection
|
1980
Affiliated Department Stores
William E. Fruhan Jr.
Keywords: Retail Industry;
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Case
| HBS Case Collection
|
1979
Pressco, Inc.
William E. Fruhan Jr.
Keywords: Pulp and Paper Industry;
Citation: Fruhan, William E., Jr. " Pressco, Inc." Harvard Business School Case 280-041, November 1979.
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Case
| HBS Case Collection
|
1979
Systems Engineering Laboratories, Inc.
William E. Fruhan Jr.
Choosing an equity offering or an offering of straight subordinated debt with a CCC credit rating and a 12.5% coupon.
Keywords: Decision Choices and Conditions;
Borrowing and Debt;
Corporate Finance;
Computer Industry;
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Background Note
| HBS Case Collection
|
1979
Note on the Theory of Optimal Capital Structure
William E. Fruhan Jr.
Examines the interrelationship between the maximization of the share value of a firm's common stock and the minimization of the firm's weighted average cost of capital. Presents a revised version of a case by J.W. Mullins, Jr.
Keywords: Capital Structure;
Cost of Capital;
Stock Shares;
Core Relationships;
Value;
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Case
| HBS Case Collection
|
1979
Georgia Power Co.
William E. Fruhan Jr.
Keywords: Energy Industry;
Citation: Fruhan, William E., Jr. " Georgia Power Co." Harvard Business School Case 279-089, January 1979.
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Case
| HBS Case Collection
|
1975
(Revised from original version)
Ling Temco Vought, Inc.
William E. Fruhan Jr.
Keywords: Business Conglomerates;
Citation: Fruhan, William E., Jr. " Ling Temco Vought, Inc." Harvard Business School Case 272-102, October 1975. (Revised from original January 1971 version.)
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Case
| HBS Case Collection
|
1975
(Revised from original version)
Kellogg Co., Inc.
William E. Fruhan Jr.
Keywords: Food and Beverage Industry;
Citation: Fruhan, William E., Jr. " Kellogg Co., Inc." Harvard Business School Case 274-122, May 1975. (Revised from original January 1974 version.)
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Case
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1975
(Revised from original version)
Kelor Chemical Corp. (B)
William E. Fruhan Jr.
Keywords: Chemical Industry;
Citation: Fruhan, William E., Jr. " Kelor Chemical Corp. (B)." Harvard Business School Case 274-109, February 1975. (Revised from original November 1973 version.)
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Case
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1973
A&P--1972
William E. Fruhan Jr.
Keywords: History;
Citation: Fruhan, William E., Jr. " A&P--1972." Harvard Business School Case 274-114, December 1973.
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Case
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1973
British Petroleum Co. Ltd.
William E. Fruhan Jr.
Keywords: Energy Industry;
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Background Note
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1973
International Oil, Background Note
William E. Fruhan Jr.
Keywords: Energy Industry;
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Case
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1972
(Revised from original version)
Super G Corp.
William E. Fruhan Jr.
Citation: Fruhan, William E., Jr. " Super G Corp." Harvard Business School Case 271-095, September 1972. (Revised from original February 1971 version.)
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Case
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1972
(Revised from original version)
Holiday Greetings, Inc.
Fred K. Foulkes and William E. Fruhan Jr.
Keywords: Consumer Products Industry;
Citation: Foulkes, Fred K., and William E. Fruhan Jr. " Holiday Greetings, Inc." Harvard Business School Case 271-080, March 1972. (Revised from original January 1971 version.)
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Case
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1971
Compulease Co. (C): A Sequel
William E. Fruhan Jr.
Keywords: Computer Industry;
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Case
| HBS Case Collection
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1971
Compulease Co. (D): The Denouement
William E. Fruhan Jr.
Keywords: Computer Industry;
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Case
| HBS Case Collection
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1970
(Revised from original version)
General Public Utilities Corp. (A)
John H. McArthur and William E. Fruhan Jr.
Keywords: Utilities Industry;
Citation: McArthur, John H., and William E. Fruhan Jr. " General Public Utilities Corp. (A)." Harvard Business School Case 213-118, October 1970. (Revised from original November 1968 version.)
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Case
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1968
ICA Corp.
John H. McArthur and William E. Fruhan Jr.
Citation: McArthur, John H., and William E. Fruhan Jr. " ICA Corp." Harvard Business School Case 213-125, April 1968.
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Case
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1955
Compulease Co. (A)
John H. McArthur and William E. Fruhan Jr.
Keywords: Computer Industry;
Citation: McArthur, John H., and William E. Fruhan Jr. " Compulease Co. (A)." Harvard Business School Case 213-123, January 1955.
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Case
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1955
Compulease Co. (B)
John H. McArthur and William E. Fruhan Jr.
Keywords: Computer Industry;
Citation: McArthur, John H., and William E. Fruhan Jr. " Compulease Co. (B)." Harvard Business School Case 213-124, January 1955.
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