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Background Note
| HBS Case Collection
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2012
(Revised from original 2010 version)
Assessing a Company's Future Financial Health
Thomas R. Piper
The case provides students with (1) an understanding of the essence of long-term financial health; (2) familiarity with the calculation and meaning of various financial ratios; and (3) an understanding of the influence of a company's operating and competitive characteristics on its investment in various type assets, on the profitability of these investments, and on the financial structure of its balance sheet. The case also allows a discussion of (1) the incomplete and lagging nature of financial measures; (2) the influence of financial measures on behavior; and (3) the reality that financial analysis often results in better, more focused questions to be asked of management, not conclusive answers.
Keywords: Financial Condition;
Forecasting and Prediction;
Investment Return;
Operations;
Competitive Strategy;
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Teaching Note
| HBS Case Collection
|
2011
(Revised from original 2010 version)
Assessing a Company's Future Financial Health (TN)
Thomas R. Piper
Teaching Note for 911412.
Keywords: Financial Condition;
Forecasting and Prediction;
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Case
| HBS Case Collection
|
2010
Monmouth, Inc.
Thomas R. Piper and Heide Abelli
The management of Monmouth Inc. is considering whether to acquire the Robertson Tool Company and the value and form that the acquisition should take. Value can be assessed using a variety of approaches including a DCF with WACC analysis, impact on EPS and market multiples. The case also requires the student to consider how the offer should be designed and implemented.
Keywords: Competitive bidding;
Forecasting;
Stock offerings;
Mergers ＆ Acquisitions;
Valuation, Margins;
Citation:
Piper, Thomas R., and Heide Abelli. "
Monmouth, Inc." Harvard Business School Brief Case 104-226, July 2010.
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Teaching Note
| HBS Case Collection
|
2010
Monmouth, Inc. (Brief Case)
Thomas R. Piper and Heide Abelli
Teaching Note for 4226.
Keywords: Competitive bidding;
Forecasting;
Stock offerings;
Mergers ＆ acquisitions,;
Valuation, Margins;
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Supplement
| HBS Case Collection
|
2010
Monmouth, Inc., Spreadsheet Supplement (Brief Case)
Thomas R. Piper and Heide Abelli
Keywords: Margins;
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Supplement
| HBS Case Collection
|
2010
Monmouth, Inc., Spreadsheet Supplement for Instructors (Brief Case)
Thomas R. Piper and Heide Abelli
Keywords: Margins;
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Case
| HBS Case Collection
|
2010
(Revised from original 2010 version)
Malden Mills (A) (Abridged)
Nitin Nohria and Thomas R. Piper
CEO Aaron Feuerstein of Malden Mills decided to pay idled workers after a massive fire at his mill in 1995. Focuses on the decisions made post-fire and the rebuilding process and eventual bankruptcy of the company. Also outlines creditors' struggle to decide whether to lend Feuerstein additional funds to enable him to regain control of the company after emerging from bankruptcy.
Keywords: Insolvency and Bankruptcy;
Financing and Loans;
Employees;
Leadership;
Crisis Management;
Social Issues;
Manufacturing Industry;
Massachusetts;
Citation:
Nohria, Nitin, and Thomas R. Piper. "
Malden Mills (A) (Abridged)." Harvard Business School Case 410-083, June 2010. (Revised from original March 2010 version.)
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Case
| HBS Case Collection
|
2010
(Revised from original 2001 version)
Sarnia Corporation
Thomas R. Piper
A division manager must explain why his division failed to meet its budgeted profit performance as well as meet with members of his management team to discuss corrective action.
Keywords: Budgets and Budgeting;
Business Divisions;
Profit;
Management Teams;
Managerial Roles;
Failure;
Performance;
Strategy;
Citation:
Piper, Thomas R. "
Sarnia Corporation." Harvard Business School Case 202-051, May 2010. (Revised from original October 2001 version.)
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Case
| HBS Case Collection
|
2010
Jones Electrical Distribution
Thomas R. Piper and Jeffrey DeVolder
Jones Electrical Distribution is faced with a need for increased bank financing due to its rapid sales growth. Students must determine the reasons for the rising bank borrowing, estimate the amount of borrowing needed and assess the attractiveness of the loan to the bank. Allows students to practice ration analysis, financial forecasting and evaluating financing alternatives.
Keywords: financial analysis;
Cash flow;
Forecasting;
financing;
Bank loans;
Growth Management;
Cash Flow;
Financing and Loans;
Forecasting and Prediction;
Distribution Industry;
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Teaching Note
| HBS Case Collection
|
2010
Jones Electrical Distribution (Brief Case)
Thomas R. Piper and Jeffrey DeVolder
Teaching Note for 4179.
Keywords: financial analysis;
Cash flow;
Forecasting;
financing;
Bank loans;
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Supplement
| HBS Case Collection
|
2010
Jones Electrical Distribution, Student Spreadsheet Supplement (Brief Case)
Thomas R. Piper and Jeffrey DeVolder
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Supplement
| HBS Case Collection
|
2010
Jones Electrical Distribution, Faculty Spreadsheet (Brief Case)
Thomas R. Piper and Jeffrey DeVolder
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Teaching Note
| HBS Case Collection
|
2010
(Revised from original 2007 version)
Malden Mills (TN) (A), (B), and (A) (Abridged)
Thomas R. Piper and Aldo Sesia
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Case
| HBS Case Collection
|
2009
(Revised from original 2004 version)
Getting Participant-centered Learning to Work
Thomas R. Piper, James L. Heskett and Gustavo Herrero
The newly appointed dean of a South American business school is eager to transform the learning process from the traditional lecture method to one that actively engages students and contributes to the development of critical managerial skills, attitudes, and world view. To be successful, a number of organizational processes must be changed, and strong alliances must be created with key members of the faculty, administrative staff, alumni, and students.
Keywords: Change Management;
Transformation;
Business Education;
Leading Change;
Business Processes;
Organizational Change and Adaptation;
Alliances;
Education Industry;
South America;
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Case
| HBS Case Collection
|
2008
(Revised from original 2004 version)
Johnson & Johnson's Corporate Credo
Thomas R. Piper
No corporate credo is better known than that of Johnson & Johnson. Describes the history of the credo, including the credo challenge initiated by the CEO, James Burke, in 1975 and the role the credo played during the Tylenol poisoning crisis.
Keywords: History;
Mission and Purpose;
Goals and Objectives;
Corporate Accountability;
Reputation;
Crisis Management;
Corporate Governance;
Management Teams;
Citation:
Piper, Thomas R. "Johnson & Johnson's Corporate Credo." Harvard Business School Case 304-084, May 2008. (Revised from original January 2004 version.)
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Supplement
| HBS Case Collection
|
2007
(Revised from original 2007 version)
Dressen (Abridged) (B)
Thomas R. Piper
Citation:
Piper, Thomas R. "
Dressen (Abridged) (B)." Harvard Business School Supplement 207-126, August 2007. (Revised from original June 2007 version.)
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Case
| HBS Case Collection
|
2007
(Revised from original 2007 version)
Dressen (Abridged) (A)
Thomas R. Piper
John Lynch, CEO of the Dressen Division of Westinghouse, was elated by the proposed leveraged buyout by the private equity firm, Warburg Pincus Ventures. The buyout would rid the division of a 'bad' parent and place the division's destiny in its own hands. A recently instituted restructuring plan seemed likely to improve profitability, but the turnaround was in its infancy. Would sources of finance support a financing plan that relied heavily on debt? Would Warburg Pincus Ventures be prepared to pay a price sufficient to win the bidding contest?
Keywords: Leveraged Buyouts;
Restructuring;
Forecasting and Prediction;
Private Equity;
Bids and Bidding;
Valuation;
Citation:
Piper, Thomas R. "
Dressen (Abridged) (A)." Harvard Business School Case 207-125, August 2007. (Revised from original June 2007 version.)
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Case
| HBS Case Collection
|
2007
(Revised from original 1996 version)
Nicholson File Company Takeover (A), The
Thomas R. Piper
The financial vice president must decide the value and form of an acquisition offer to be made to a small hand tool company.
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Case
| HBS Case Collection
|
2007
(Revised from original 1996 version)
Nicholson File Company Takeover (B), The
Thomas R. Piper
Management of a small hand tool company must decide on the terms and conditions of its sale to a "friendly" acquirer.
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Case
| HBS Case Collection
|
2007
(Revised from original 2000 version)
Dressen
Thomas R. Piper and Jeremy Cott
Divisional management must decide whether to support a leveraged buyout by a private equity group and, if so, what percent of ownership should go to the various partners involved. The appropriateness of the financing structure and the value of the equity depend on the sustainability of the turnaround effected less than one year earlier.
Keywords: Private Equity;
Partners and Partnerships;
Leveraged Buyouts;
Valuation;
Capital Structure;
Forecasting and Prediction;
Cooperation;
Corporate Finance;
Citation:
Piper, Thomas R., and Jeremy Cott. "
Dressen." Harvard Business School Case 200-041, May 2007. (Revised from original January 2000 version.)
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Supplement
| HBS Case Collection
|
2006
Marriott Corporation (A) Financial Projections Exercise
Thomas R. Piper
Keywords: Corporate Finance;
Accommodations Industry;
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Teaching Note
| HBS Case Collection
|
2006
Marriott Corporation (TN) (A) and (B) (LCA)
Lynn S. Paine, Thomas R. Piper, Charles Nichols and Aldo Sesia
Keywords: Accommodations Industry;
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Teaching Note
| HBS Case Collection
|
2006
Columbia/HCA, 1992-1997 (TN)
Thomas R. Piper and Aldo Sesia
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Case
| HBS Case Collection
|
2006
(Revised from original 2003 version)
Malden Mills (A)
Nitin Nohria, Thomas R. Piper and Bridget Gurtler
CEO Aaron Feuerstein of Malden Mills decided to pay idled workers after a massive fire at his mill in 1995. Focuses on the decisions made post-fire and the rebuilding process and eventual bankruptcy of the company. Also outlines creditors' struggle to decide whether to lend Feuerstein additional funds to enable him to regain control of the company after emerging from bankruptcy.
Keywords: Wages;
Situation or Environment;
Ethics;
Financing and Loans;
Resignation and Termination;
Employees;
Insolvency and Bankruptcy;
Manufacturing Industry;
Massachusetts;
Citation:
Nohria, Nitin, Thomas R. Piper, and Bridget Gurtler. "
Malden Mills (A)." Harvard Business School Case 404-072, August 2006. (Revised from original December 2003 version.)
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Case
| HBS Case Collection
|
2006
(Revised from original 2003 version)
STAR 2003
Thomas R. Piper
A shift in strategy from broadcasting standardized programs throughout its footprint to localized programming necessitates a review of STAR's organizational structure. Growing complexity and a need for local responsiveness point toward adoption of a country-based organizational structure. The question arises concerning the systems that must be in place if headquarters is truly to decentralize decision rights. The case also raises the issue of the need for senior executives at corporate to redefine their roles.
Keywords: Corporate Strategy;
Organizational Structure;
Management Teams;
Decision Choices and Conditions;
Organizational Design;
Complexity;
Entertainment and Recreation Industry;
Service Industry;
Citation:
Piper, Thomas R. "
STAR 2003." Harvard Business School Case 204-014, July 2006. (Revised from original November 2003 version.)
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Case
| HBS Case Collection
|
2006
(Revised from original 1999 version)
Advanced Technologies, Inc.
Thomas R. Piper
The CEO of a semiconductor equipment manufacturer is assessing the financial forecasts and financing plan prepared by the chief financial officer. Continued rapid growth will create substantial financing pressures, especially if profitability fails to recover and/or if a major, unexpected economic downturn occurs.
Keywords: Forecasting and Prediction;
Earnings Management;
Financial Condition;
Financial Reporting;
Risk and Uncertainty;
Economic Slowdown and Stagnation;
Outcome or Result;
Growth and Development;
Crisis Management;
Profit;
Financial Strategy;
Semiconductor Industry;
Manufacturing Industry;
Citation:
Piper, Thomas R. "
Advanced Technologies, Inc." Harvard Business School Case 299-042, June 2006. (Revised from original January 1999 version.)
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Case
| HBS Case Collection
|
2004
(Revised from original 2004 version)
Cartwright Lumber Company
Thomas R. Piper
The Cartwright Lumber Co. faces a need for increased bank financing due to its rapid sales growth and low profitability. A rewritten version of an earlier case.
Keywords: Growth Management;
Forecasting and Prediction;
Financing and Loans;
Corporate Finance;
Construction Industry;
Forest Products Industry;
Citation:
Piper, Thomas R. "
Cartwright Lumber Company." Harvard Business School Case 204-126, March 2004. (Revised from original February 2004 version.)
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Case
| HBS Case Collection
|
2004
(Revised from original 2003 version)
Scott Lawson's Dilemma
Thomas R. Piper
The head of SysCom's test equipment division is concerned about how to answer employee and customer questions concerning the possible sale or liquidation of the division. The consequences of alternative approaches (full transparency vs. strong optimism and reassurance) for the various parties differ substantially. Also involves important legal, regulatory, and reporting requirements.
Keywords: Business Exit or Shutdown;
Interpersonal Communication;
Business Divisions;
Corporate Governance;
Ethics;
Manufacturing Industry;
Technology Industry;
Citation:
Piper, Thomas R. "
Scott Lawson's Dilemma." Harvard Business School Case 204-107, February 2004. (Revised from original December 2003 version.)
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Case
| HBS Case Collection
|
2004
Bob Holgrom and the Buyout of the Carlson Division
Thomas R. Piper
The head of the Carlson Division stands to benefit substantially in financial terms if a private equity firm wins the bid for the division. The division is in the early stages of a performance turnaround, with only three quarters of profit improvement and no audited figures. The division head has a well-developed plan to improve performance and is confident that operating profits will double within five years. If this occurs and if the private equity firm is successful in buying the division at its target price, the division head's equity interest may be worth $60 million in five years. How much should he disclose to strategic buyers and to the parent company in terms of the turnaround plans and prospects? What are the legal and ethical requirements?
Keywords: Leveraged Buyouts;
Private Equity;
Accounting Audits;
Financial Statements;
Decision Choices and Conditions;
Ethics;
Negotiation Preparation;
Accrual Accounting;
Laws and Statutes;
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Case
| HBS Case Collection
|
2003
(Revised from original 2000 version)
Nissan Motor Company
Thomas R. Piper and Jeremy Cott
Senior executives of Nissan and Renault are considering a major investment in Nissan by Renault. An important consideration is whether a major restructuring of Nissan's operations will be possible, given the value placed on lifetime employment and the impact on communities. Also of concern is the likely decrease in commitment to restructure once the equity investment has been made.
Keywords: Values and Beliefs;
Restructuring;
Investment;
Management Teams;
Equity;
Corporate Finance;
Manufacturing Industry;
Auto Industry;
Citation:
Piper, Thomas R., and Jeremy Cott. "
Nissan Motor Company." Harvard Business School Case 200-067, January 2003. (Revised from original June 2000 version.)
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Case
| HBS Case Collection
|
2002
(Revised from original 1991 version)
Butler Lumber Company
Thomas R. Piper
The Butler Lumber Co. is faced with a need for increased bank financing due to its rapid sales growth and low profitability. Students must determine the reasons for the rising bank borrowing, estimate the amount of borrowing needed, and assess the attractiveness of the loan to the bank. A rewritten version of an earlier case. Allows students to practice ratio analysis, financial forecasting, and evaluating financing alternatives.
Keywords: Commercial Banking;
Financial Crisis;
Borrowing and Debt;
Financial Strategy;
Financing and Loans;
Capital Structure;
Forecasting and Prediction;
Citation:
Piper, Thomas R. "
Butler Lumber Company." Harvard Business School Case 292-013, January 2002. (Revised from original October 1991 version.)
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Case
| HBS Case Collection
|
2001
(Revised from original 1996 version)
Atlantic Corporation-Abridged
Thomas R. Piper
A major paper company is considering acquiring the assets of a company that is threatened by a hostile takeover. The acquisition can be evaluated in terms of industry attractiveness, comparative advantage, and cash-flow analysis.
Keywords: Projects;
Cash Flow;
Interest Rates;
Valuation;
Mathematical Methods;
Horizontal Integration;
Acquisition;
Competitive Advantage;
Aerospace Industry;
Citation:
Piper, Thomas R. "
Atlantic Corporation-Abridged." Harvard Business School Case 297-015, June 2001. (Revised from original July 1996 version.)
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Case
| HBS Case Collection
|
2001
(Revised from original 1998 version)
Concordia Electronic Systems Test
Thomas R. Piper
The management of an electronics company must decide whether to use a single hurdle rate for all projects or to move to a system of different hurdle rates for each of its two divisions. The divisions differ substantially in terms of risk and seem to have substantially different costs of capital.
Keywords: Business Model;
Risk and Uncertainty;
Cost of Capital;
Valuation;
Business Divisions;
Electronics Industry;
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Exercise
|
2000
(Revised from original 1997 version)
Capital Budgeting: Discounted Cash Flow Analysis
Thomas R. Piper
This exercise comprises seven problems that collectively allow students to work through each type of cash flow that is encountered in capital budgeting. The instructor can also address such issues as product cannibalization and real options.
Keywords: Capital Budgeting;
Cash Flow;
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Case
| HBS Case Collection
|
1998
(Revised from original 1998 version)
Infinity Carpets, Inc.
Ronald W. Moore and Thomas R. Piper
A turnaround expert must determine whether a firm in distress is worth more as a going concern than its liquidation value. If so, the finances of the firm must be restructured in a way consistent with the bargaining power of the holders of the various securities. The restructuring requires a delay in principal repayment, rate concessions, and a debt-for-equity swap.
Keywords: Restructuring;
Borrowing and Debt;
Financial Liquidity;
Crisis Management;
Value;
Apparel and Accessories Industry;
Citation:
Moore, Ronald W., and Thomas R. Piper. "
Infinity Carpets, Inc." Harvard Business School Case 299-014, December 1998. (Revised from original September 1998 version.)
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Case
| HBS Case Collection
|
1998
Hilton Manufacturing Company (B)
Thomas R. Piper
Keywords: Manufacturing Industry;
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Case
| HBS Case Collection
|
1997
Intercontinental Breweries (Abridged)
Thomas R. Piper
A senior executive of a U.S. multinational is attempting to develop a set of financial, operating, and ownership arrangements that will be acceptable to the management and employees of a major Polish company and to the Ministry of Privatization. The arrangements must also be consistent with the financial and strategic objectives of the U.S. multinational. A rewritten version of two earlier cases.
Keywords: Food and Beverage Industry;
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Case
| HBS Case Collection
|
1997
(Revised from original version)
Takeover of the Norton Co., The
Thomas R. Piper
After a decade of mediocre performance, the Norton Co. enters 1990 with the prospect of increased sales in the next few years. Yet Norton is pursuing slow growth industries, and a lower than expected earnings announcement at the beginning of 1990 has depressed earnings forecasts by brokerage firms. BTR, a large highly successful British conglomerate, is considering making a takeover offer of Norton but is troubled by a number of issues. This case takes a behind-the-scenes look at how a company like BTR would value a potential takeover target and analyze how the acquisition would impact BTR's operations and performance, and how it might stave off competing bids if it were to make an offer.
Keywords: Mergers and Acquisitions;
Business Conglomerates;
Goals and Objectives;
Forecasting and Prediction;
Performance Evaluation;
Revenue;
Bids and Bidding;
Business Processes;
Ownership Stake;
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Background Note
| HBS Case Collection
|
1997
Assessing a Company's Financial Health (Abridged)
Thomas R. Piper
Keywords: Financial Condition;
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Teaching Note
| HBS Case Collection
|
1997
(Revised from original 1997 version)
Atlantic Corporation--Abridged TN
Thomas R. Piper
Teaching Note for (9-297-015).
Keywords: Aerospace Industry;
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Teaching Note
| HBS Case Collection
|
1997
Clarkson Lumber Company, Teaching Note
Thomas R. Piper
Teaching Note for (9-297-028).
Keywords: Financial Services Industry;
Retail Industry;
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Case
| HBS Case Collection
|
1996
(Revised from original 1996 version)
Clarkson Lumber Company
Thomas R. Piper
The owner of a rapidly growing retail lumber company is considering the financial implications of continued rapid growth. The magnitude of the company's future financing requirements must be assessed in the context of the company's access to bank finance and/or equity finance. A rewritten version of an earlier case.
Keywords: Business Growth and Maturation;
Financial Reporting;
Forecasting and Prediction;
Business Strategy;
Financial Strategy;
Commercial Banking;
Borrowing and Debt;
Equity;
Corporate Finance;
Citation:
Piper, Thomas R. "
Clarkson Lumber Company." Harvard Business School Case 297-028, October 1996. (Revised from original September 1996 version.)
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Case
| HBS Case Collection
|
1994
(Revised from original version)
Science Technology Co.
Thomas R. Piper
The president of a medium-sized electronics company is evaluating the financial forecasts and proposed financing program submitted by the chief financial officer. The forecasts are prepared in constant dollars, on which basis the proposed financing plan seems reasonable. However, when inflation is incorporated into the forecasts, the financing need far exceeds available sources of funds, and adjustment on the operating side is necessary. The danger of relying on a single set of forecasts based on the most likely outcome is also demonstrated.
Keywords: Currency;
Financial Strategy;
Forecasting and Prediction;
Inflation and Deflation;
Risk and Uncertainty;
Outcome or Result;
Technology Industry;
Electronics Industry;
Citation:
Piper, Thomas R. "
Science Technology Co." Harvard Business School Case 275-058, May 1994. (Revised from original November 1974 version.)
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Case
| HBS Case Collection
|
1994
Intercontinental Breweries
Thomas R. Piper
Keywords: Food and Beverage Industry;
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Case
| HBS Case Collection
|
1994
Ministry of Privatization
Thomas R. Piper
Keywords: International Finance;
Joint Ventures;
Privatization;
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Case
| HBS Case Collection
|
1993
(Revised from original 1973 version)
Cooper Industries, Inc.
Thomas R. Piper
The executive president of a major industrial company must decide 1) whether to acquire a small hand tool company and, if so, 2) the value and form that the acquisition package should take.
Citation:
Piper, Thomas R. "
Cooper Industries, Inc." Harvard Business School Case 274-116, November 1993. (Revised from original December 1973 version.)
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Case
| HBS Case Collection
|
1993
(Revised from original 1991 version)
Play Time Toy Co.
Thomas R. Piper
The president of a toy company is considering the adoption of level production in a business characterized by highly seasonal sales. The issues include balancing the cost savings and the inventory risk, estimating the seasonal financing need, and determining the appropriate approach to the bank. A rewritten version of an earlier case.
Keywords: Production;
Cost Management;
Banks and Banking;
Sales;
Goods and Commodities;
Financial Management;
Risk Management;
Entertainment and Recreation Industry;
Citation:
Piper, Thomas R. "
Play Time Toy Co." Harvard Business School Case 292-003, November 1993. (Revised from original October 1991 version.)
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Case
| HBS Case Collection
|
1993
(Revised from original 1991 version)
Dynashears, Inc.
Thomas R. Piper
A senior loan officer is reviewing the recent performance of a company that has failed to repay its loan as scheduled. The failure results from a cyclical downturn in sales, coupled with a lag in cutting back production. Inventory risk is minimal. Teaching objective: Practice in financial analysis and in understanding the impact of business cycle on durable goods companies. Also an opportunity to evaluate the situation from a lender's perspective. A rewritten version of an earlier case.
Keywords: Borrowing and Debt;
Business Cycles;
Financial Condition;
Risk and Uncertainty;
Failure;
Citation:
Piper, Thomas R. "
Dynashears, Inc." Harvard Business School Case 292-017, November 1993. (Revised from original October 1991 version.)
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Case
| HBS Case Collection
|
1993
(Revised from original 1989 version)
ProTech, Inc.
Thomas R. Piper
A company is considering the elimination of a product line. As part of that consideration, it must develop possible strategies for closing the division, and identify the economic and non-economic implications of the strategy. The situation is complicated by the company's need for an infusion of equity capital.
Keywords: Marketing Strategy;
Decision Making;
Business Exit or Shutdown;
Equity;
Problems and Challenges;
Citation:
Piper, Thomas R. "
ProTech, Inc." Harvard Business School Case 289-054, March 1993. (Revised from original April 1989 version.)
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Case
| HBS Case Collection
|
1993
(Revised from original 1990 version)
Dynatronics, Inc. (Abridged)
Thomas R. Piper
Provides an opportunity to evaluate an investment in a new product line in strategic, competitive, organizational, and economic terms. The economic analysis involves an estimation of the relevant cash flows and discounting them at an appropriate hurdle rate.
Citation:
Piper, Thomas R. "
Dynatronics, Inc. (Abridged)." Harvard Business School Case 290-064, January 1993. (Revised from original June 1990 version.)
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Case
| HBS Case Collection
|
1992
(Revised from original version)
Benguet Corp.--1983
Thomas R. Piper
Keywords: History;
Citation:
Piper, Thomas R. "
Benguet Corp.--1983." Harvard Business School Case 285-097, May 1992. (Revised from original January 1985 version.)
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Teaching Note
| HBS Case Collection
|
1992
(Revised from original 1992 version)
Butler Lumber Company TN
Thomas R. Piper
Teaching Note for (9-292-013).
Keywords: Forest Products Industry;
Citation:
Piper, Thomas R. "
Butler Lumber Company TN." Harvard Business School Teaching Note 292-014, April 1992. (Revised from original January 1992 version.)
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Teaching Note
| HBS Case Collection
|
1992
Cooper Industries, Inc. TN
Thomas R. Piper
Teaching Note for (9-274-116).
Keywords: Electronics Industry;
Manufacturing Industry;
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Teaching Note
| HBS Case Collection
|
1992
Consolidated Edison Company (Abridged) TN
Thomas R. Piper
Teaching Note for (9-275-116).
Keywords: Service Industry;
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Teaching Note
| HBS Case Collection
|
1992
Economy Shipping Company (Abridged) TN
Thomas R. Piper
Teaching Note for (9-274-092).
Keywords: Shipping Industry;
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Teaching Note
| HBS Case Collection
|
1992
Pioneer Petroleum Corporation TN
Thomas R. Piper
Teaching Note for (9-292-011).
Keywords: Cost of Capital;
Production;
Transportation;
Equity;
Measurement and Metrics;
Energy Industry;
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Teaching Note
| HBS Case Collection
|
1992
Dynashears, Inc. TN
Thomas R. Piper
Teaching Note for (9-292-017).
Citation:
Piper, Thomas R. "
Dynashears, Inc. TN." Harvard Business School Teaching Note 292-018, January 1992.
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Teaching Note
| HBS Case Collection
|
1992
Hampton Machine Tool Company TN
Thomas R. Piper
Teaching Note for (9-280-103).
Keywords: Financing and Loans;
Cash;
Budgets and Budgeting;
Financial Statements;
Stocks;
Machinery and Machining;
Manufacturing Industry;
Auto Industry;
United States;
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Teaching Note
| HBS Case Collection
|
1992
Advanced Medical Technology Corporation TN
Thomas R. Piper
Teaching Note for (9-287-028).
Keywords: Pharmaceutical Industry;
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Teaching Note
| HBS Case Collection
|
1992
Play Time Toy Company TN
Thomas R. Piper
Teaching Note for (9-292-003).
Keywords: Entertainment and Recreation Industry;
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Teaching Note
| HBS Case Collection
|
1992
Science Technology Company (1985) TN
Thomas R. Piper
Teaching Note for (9-289-040).
Keywords: Manufacturing Industry;
Electronics Industry;
United States;
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Teaching Note
| HBS Case Collection
|
1992
Crown Corp., Teaching Note
Thomas R. Piper
Citation:
Piper, Thomas R. "Crown Corp., Teaching Note." Harvard Business School Teaching Note 292-070, January 1992.
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Case
| HBS Case Collection
|
1991
(Revised from original 1975 version)
Consolidated Edison Co. (Abridged)
Thomas R. Piper
Faced with large external financing needs and a low stock price, Con Ed management must decide whether to pay a cash dividend in April 1974. Based on Consolidated Edison by G.C. Lodge.
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Case
| HBS Case Collection
|
1991
(Revised from original version)
Advanced Medical Technology Corp.
Thomas R. Piper
A loan officer must decide whether to lend $8 million to a rapidly growing, high technology company. The company has had a series of relationships with three other banks. Reports from loan officers at these banks are mixed and raise questions as to the ease with which a relationship would proceed. The full range of issues must be considered in evaluating the credit worthiness (character, collateral, capacity, conditions, pricing). The loan officer must also determine how much weight to place on a comfort letter from a major pharmaceutical firm.
Keywords: Decision Making;
Commercial Banking;
Financing and Loans;
Financial Condition;
Technology Industry;
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Case
| HBS Case Collection
|
1991
(Revised from original version)
Economy Shipping Co. (Abridged)
Thomas R. Piper
Shipping company must choose among several mutually exclusive investment projects.
Keywords: Decision Choices and Conditions;
Investment;
Projects;
Shipping Industry;
Citation:
Piper, Thomas R. "
Economy Shipping Co. (Abridged)." Harvard Business School Case 274-092, November 1991. (Revised from original November 1973 version.)
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Case
| HBS Case Collection
|
1991
(Revised from original version)
Science Technology Co.--1985
Thomas R. Piper
The CEO of a U.S. electronics firm is assessing the financial forecasts and the financing plan prepared by the chief financial officer. Given the cyclicality of the industry and the volatility of the firm's performance, the CEO is unsure as to the usefulness of forecasts based on straight line extrapolation of rapid sales growth and stable relationships of profits and assets to sales. The teaching objectives include: 1) how many years into the future should the forecasts run given the level of uncertainty, 2) how can one deal with the high uncertainty when preparing the forecasts or designing a financing plan, and 3) how to estimate the financing needs under conditions of adversity.
Keywords: History;
Risk and Uncertainty;
Groups and Teams;
Industry Growth;
Sales;
Change Management;
Business Plan;
Financial Condition;
Forecasting and Prediction;
Profit;
Financial Strategy;
Volatility;
Manufacturing Industry;
Electronics Industry;
United States;
Citation:
Piper, Thomas R. "
Science Technology Co.--1985." Harvard Business School Case 289-040, November 1991. (Revised from original February 1989 version.)
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Case
| HBS Case Collection
|
1991
(Revised from original 1985 version)
Universal Circuits, Inc.
Thomas R. Piper
The manager of international finance of a major U.S. electronics company is concerned about the exposure of the firm to changes in exchange rates. Of particular concern is the exposure of operations to changes in real exchange rates. The teaching objectives include: 1) understanding operating exposure and contractual exposure; 2) understanding the issues in estimating operating exposure; 3) understanding possible actions to neutralize operating exposure; and 4) assigning responsibility for the management of operating exposure.
Keywords: Credit Derivatives and Swaps;
International Finance;
Currency Exchange Rate;
Business Plan;
Risk and Uncertainty;
Financial Management;
Financial Strategy;
Electronics Industry;
United States;
Citation:
Piper, Thomas R. "
Universal Circuits, Inc." Harvard Business School Case 286-006, July 1991. (Revised from original August 1985 version.)
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Case
| HBS Case Collection
|
1991
(Revised from original 1981 version)
Ocean Drilling, Inc.
Thomas R. Piper
Management must choose between two mutually exclusive bids to build two drilling rigs. Both bids involve attractive export credit financing denominated in foreign currencies.
Keywords: Credit;
Currency;
Financing and Loans;
Bids and Bidding;
Natural Environment;
Citation:
Piper, Thomas R. "
Ocean Drilling, Inc." Harvard Business School Case 282-050, July 1991. (Revised from original December 1981 version.)
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Case
| HBS Case Collection
|
1991
(Revised from original 1983 version)
Hintz-Kessels-Kohl A.G.
Thomas R. Piper
A truck manufacturer must decide whether to bid on the sale of 120 trucks to a private firm in Costa Rica. If a bid is submitted, a decision must be made on whether to protect against the credit, exchange rate, and sovereign risks.
Citation:
Piper, Thomas R. "
Hintz-Kessels-Kohl A.G." Harvard Business School Case 284-019, July 1991. (Revised from original July 1983 version.)
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Case
| HBS Case Collection
|
1991
(Revised from original version)
Wilson Lumber Co.
Thomas R. Piper
The Wilson Lumber Co. is faced with a need for increased bank financing due to its rapid sales growth and low profitability. Students must determine the reasons for the rising bank borrowing, estimate the amount of borrowing needed, and assess the attractiveness of the loan to the bank. A rewritten version of an earlier case by J.K. Butters.
Keywords: Borrowing and Debt;
Financing and Loans;
Banks and Banking;
Forecasting and Prediction;
Sales;
Financial Strategy;
Citation:
Piper, Thomas R. "
Wilson Lumber Co." Harvard Business School Case 286-122, February 1991. (Revised from original May 1986 version.)
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Case
| HBS Case Collection
|
1990
Nova Chemical Corp. (Abridged)
Thomas R. Piper
Keywords: Chemical Industry;
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Case
| HBS Case Collection
|
1989
Managerial Decision Making and Ethical Values, Instructor's Manual
Mary C. Gentile, Kenneth E. Goodpaster and Thomas R. Piper
Keywords: Decision Making;
Values and Beliefs;
Ethics;
Citation:
Gentile, Mary C., Kenneth E. Goodpaster, and Thomas R. Piper. "Managerial Decision Making and Ethical Values, Instructor's Manual." Harvard Business School Case 2-321, December 1989.
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Case
| HBS Case Collection
|
1989
Managerial Decision Making and Ethical Values, Course Module
Kenneth E. Goodpaster and Thomas R. Piper
Keywords: Decision Making;
Ethics;
Values and Beliefs;
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Teaching Note
| HBS Case Collection
|
1989
The Poletown Dilemma and Poletown Dilemma: The Outcome, Teaching Note
Thomas R. Piper
Teaching Note for (9-389-017) and (9-390-068).
Keywords: Auto Industry;
Michigan;
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Teaching Note
| HBS Case Collection
|
1989
ProTech, Inc., Teaching Note
Thomas R. Piper
Teaching Note for (9-289-054).
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Teaching Note
| HBS Case Collection
|
1989
Whistleblower, Teaching Note
Thomas R. Piper
Citation:
Piper, Thomas R. "Whistleblower, Teaching Note." Harvard Business School Teaching Note 390-016, November 1989.
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Supplement
| HBS Case Collection
|
1989
The Poletown Dilemma: The Outcome
Thomas R. Piper
Summarizes the outcome.
Keywords: Auto Industry;
Michigan;
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Teaching Note
| HBS Case Collection
|
1989
H.J. Heinz Co.: The Administration of Policy (A), (B), (C), and (D), Teaching Note
Kenneth E. Goodpaster and Thomas R. Piper
Teaching Note for (9-382-034, 035, 036, and 037).
Keywords: Business Earnings;
Management Practices and Processes;
Motivation and Incentives;
System;
Ethics;
Policy;
Business Divisions;
Organizational Change and Adaptation;
Food and Beverage Industry;
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Case
| HBS Case Collection
|
1989
(Revised from original 1988 version)
Poletown Dilemma, The
Thomas R. Piper
Senior management of General Motors must select a site for a new assembly plant to replace two plants located in Detroit. The economics strongly favor a site in an adjacent state. However, a relocation would have substantial, negative impact on the existing work force, the City of Detroit, and suppliers in the Detroit area. Selection of a Detroit site would result in higher costs and would require the taking by eminent domain of 1,200 homes in the community of Poletown. The case raises issues of corporate responsibility, business-government relations, and stakeholder analysis.
Keywords: Factories, Labs, and Plants;
Business and Government Relations;
Corporate Social Responsibility and Impact;
Business Offices;
Management Teams;
Restructuring;
Economics;
Auto Industry;
Michigan;
Citation:
Piper, Thomas R. "
Poletown Dilemma, The." Harvard Business School Case 389-017, August 1989. (Revised from original August 1988 version.)
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Case
| HBS Case Collection
|
1989
(Revised from original 1986 version)
Biltwell Shears, Inc.
Thomas R. Piper
A senior loan officer is reviewing the recent performance of a company that has failed to repay its loan as scheduled. The failure results from a cyclical downturn in sales, coupled with a lag in cutting back production. Inventory risk is minimal. This case is an updated version of Cutrite Shears.
Keywords: Financial Condition;
Financing and Loans;
Corporate Finance;
Manufacturing Industry;
Citation:
Piper, Thomas R. "
Biltwell Shears, Inc." Harvard Business School Case 286-021, May 1989. (Revised from original June 1986 version.)
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Case
| HBS Case Collection
|
1989
(Revised from original version)
Good Time Toy Co.
Thomas R. Piper
Keywords: Entertainment and Recreation Industry;
Citation:
Piper, Thomas R. "
Good Time Toy Co." Harvard Business School Case 286-102, May 1989. (Revised from original June 1986 version.)
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Case
| HBS Case Collection
|
1987
(Revised from original version)
Chinon, S.A.
Thomas R. Piper
Citation:
Piper, Thomas R. "
Chinon, S.A." Harvard Business School Case 278-157, January 1987. (Revised from original June 1978 version.)
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Case
| HBS Case Collection
|
1986
(Revised from original version)
Marriott Corp.
Thomas R. Piper
Marriott is considering the repurchase of ten million shares. This is apparently at odds with the financial policies that the Board of Directors passed two years earlier. Students must discuss why the policies were passed and why changes are now necessary. Includes a discussion of debt policy, financing policy and dividend policy. Students also discover stock is currently undervalued.
Keywords: Stocks;
Policy;
Governing and Advisory Boards;
Change;
Financial Strategy;
Valuation;
Citation:
Piper, Thomas R. "
Marriott Corp." Harvard Business School Case 282-042, September 1986. (Revised from original December 1981 version.)
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Case
| HBS Case Collection
|
1986
(Revised from original version)
Synerdyne, Inc.
Thomas R. Piper
Citation:
Piper, Thomas R. "
Synerdyne, Inc." Harvard Business School Case 274-095, September 1986. (Revised from original November 1973 version.)
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Case
| HBS Case Collection
|
1986
Premier Furniture Co.
Thomas R. Piper
A credit analyst for a furniture manufacturer is confronted with two customers who have exceeded their credit limits. The financial performance of each has been weak, and one of the customers has a highly leveraged balance sheet. Industry conditions are weak; the manufacturer apparently has excess capacity; and the credit analyst is caught between the conflicting demands of the sales managers and the credit manager. The case provides an opportunity for ratio analysis.
Keywords: Credit;
Financial Statements;
Cost vs Benefits;
Outcome or Result;
Performance Evaluation;
Forest Products Industry;
Utilities Industry;
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Case
| HBS Case Collection
|
1986
Cutrite Shears, Inc., Software Case
Thomas R. Piper
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Case
| HBS Case Collection
|
1986
Science Technology Co., Software Case
Thomas R. Piper
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Case
| HBS Case Collection
|
1986
Chinon, S.A., Software Case
Thomas R. Piper
Keywords: Software;
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Case
| HBS Case Collection
|
1986
Sunshine Toy Co., Software Case
Thomas R. Piper
Keywords: Entertainment and Recreation Industry;
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Case
| HBS Case Collection
|
1986
Cooper Industries, Inc., Software Case
Thomas R. Piper
Keywords: Software;
Information Technology Industry;
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Case
| HBS Case Collection
|
1985
Multichemical, Inc. (Abridged)
Thomas R. Piper
Keywords: Chemical Industry;
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Case
| HBS Case Collection
|
1984
(Revised from original 1975 version)
Enzone Petroleum Corp.
Thomas R. Piper
A large integrated oil company is debating whether to switch from a single hurdle rate to multiple hurdle rates for project analysis purposes. Raises questions on: 1) determination of the cost of equity; 2) the usefulness of multiple hurdle rates to adjust for project risk; 3) differences between a project's risk and its impact on overall corporate risk; and 4) the limitations of project analysis and capital budget systems.
Keywords: Investment Return;
Equity;
Cost;
Risk and Uncertainty;
Competitive Strategy;
Valuation;
Budgets and Budgeting;
Transition;
Energy Industry;
Citation:
Piper, Thomas R. "
Enzone Petroleum Corp." Harvard Business School Case 275-113, November 1984. (Revised from original April 1975 version.)
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Case
| HBS Case Collection
|
1984
(Revised from original version)
Multichemical, Inc.
Thomas R. Piper
Keywords: Chemical Industry;
Citation:
Piper, Thomas R. "
Multichemical, Inc." Harvard Business School Case 284-055, April 1984. (Revised from original January 1984 version.)
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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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Background Note
| HBS Case Collection
|
1984
U.S. Taxation of Foreign Source Income
Thomas R. Piper
Keywords: Taxation;
United States;
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Case
| HBS Case Collection
|
1984
Teleleader, Inc.
Thomas R. Piper
Citation:
Piper, Thomas R. "
Teleleader, Inc." Harvard Business School Case 284-056, January 1984.
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Case
| HBS Case Collection
|
1983
(Revised from original version)
Sunshine Toy Co.
Thomas R. Piper
Keywords: Entertainment and Recreation Industry;
Citation:
Piper, Thomas R. "
Sunshine Toy Co." Harvard Business School Case 275-039, October 1983. (Revised from original December 1974 version.)
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Background Note
| HBS Case Collection
|
1983
(Revised from original version)
Deviations from Purchasing Power Parity and the Implications for the Multinational Business
Thomas R. Piper
Keywords: Multinational Firms and Management;
Finance;
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Background Note
| HBS Case Collection
|
1982
Exchange Rate Determination and Foreign Exchange Equilibrium Conditions, Study Note
Thomas R. Piper
Keywords: Currency Exchange Rate;
International Finance;
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Case
| HBS Case Collection
|
1981
(Revised from original version)
Southern Peru Copper Corp. and Monmouth National Bank
Thomas R. Piper
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Case
| HBS Case Collection
|
1981
Kato Group
Thomas R. Piper
Citation:
Piper, Thomas R. "
Kato Group." Harvard Business School Case 282-041, November 1981.
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Case
| HBS Case Collection
|
1980
(Revised from original version)
AT&T Co.--1974
Thomas R. Piper
Keywords: Telecommunications Industry;
Citation:
Piper, Thomas R. "
AT&T Co.--1974." Harvard Business School Case 274-156, August 1980. (Revised from original February 1974 version.)
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Case
| HBS Case Collection
|
1980
(Revised from original version)
Verenigde Machinefabrieken Stork, N.V. (A) (Abridged)
Thomas R. Piper
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Case
| HBS Case Collection
|
1980
(Revised from original version)
Chrysler U.K. (A)
Thomas R. Piper
Keywords: Auto Industry;
United Kingdom;
Citation:
Piper, Thomas R. "
Chrysler U.K. (A)." Harvard Business School Case 278-119, June 1980. (Revised from original December 1977 version.)
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Case
| HBS Case Collection
|
1980
(Revised from original 1976 version)
Dana Pharmaceutical
Thomas R. Piper
Keywords: Pharmaceutical Industry;
Citation:
Piper, Thomas R. "
Dana Pharmaceutical." Harvard Business School Case 277-073, June 1980. (Revised from original October 1976 version.)
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Case
| HBS Case Collection
|
1980
(Revised from original version)
Gulfport Mining, Inc.
Thomas R. Piper
Keywords: Mining Industry;
Citation:
Piper, Thomas R. "
Gulfport Mining, Inc." Harvard Business School Case 276-112, April 1980. (Revised from original October 1975 version.)
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Case
| HBS Case Collection
|
1980
(Revised from original version)
GenRad
Thomas R. Piper
Citation:
Piper, Thomas R. "
GenRad." Harvard Business School Case 279-002, March 1980. (Revised from original July 1978 version.)
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Case
| HBS Case Collection
|
1979
(Revised from original version)
Fiat-Trattori
Thomas R. Piper and Ulrich E. Wiechmann
Keywords: Auto Industry;
Citation:
Piper, Thomas R., and Ulrich E. Wiechmann. "
Fiat-Trattori." Harvard Business School Case 279-063, August 1979. (Revised from original February 1979 version.)
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Case
| HBS Case Collection
|
1979
Hesston Corp. (Consolidated)
Thomas R. Piper
Keywords: Agriculture and Agribusiness Industry;
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Supplement
| HBS Case Collection
|
1978
British Petroleum Co. Ltd.: Financing Alternatives in 1971, Additional Information
Thomas R. Piper
Keywords: Financing and Loans;
Energy Industry;
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Supplement
| HBS Case Collection
|
1978
Chrysler U.K. (A): Long-Range Projections
Thomas R. Piper
Keywords: Auto Industry;
United Kingdom;
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Case
| HBS Case Collection
|
1977
Chrysler U.K. (B)
Thomas R. Piper
Keywords: Auto Industry;
United Kingdom;
Citation:
Piper, Thomas R. "
Chrysler U.K. (B)." Harvard Business School Case 278-120, December 1977.
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Case
| HBS Case Collection
|
1977
Imperial Chemical Industries
Thomas R. Piper
Keywords: Chemical Industry;
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Case
| HBS Case Collection
|
1977
MRC, Inc. (Consolidated)
Thomas R. Piper
A large diversified company must develop a strategy for a division whose performance has deteriorated due to its aging product. Alternatives range from liquidation to a major investment in a new product. The formal capital budgeting system is compared with the informal process by which projects are identified and presented. This case is a consolidation of MRC, Inc. (A) and (B) by R.W. Moore.
Keywords: Restructuring;
Goods and Commodities;
Global Strategy;
Transformation;
Failure;
Decisions;
Business Strategy;
Product Design;
Problems and Challenges;
Investment;
Budgets and Budgeting;
Performance;
Manufacturing Industry;
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Case
| HBS Case Collection
|
1976
NCR Corp.
Thomas R. Piper
Keywords: Information Technology Industry;
Citation:
Piper, Thomas R. "
NCR Corp." Harvard Business School Case 276-178, February 1976.
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Case
| HBS Case Collection
|
1975
(Revised from original version)
Crown Corp.
Thomas R. Piper
Citation:
Piper, Thomas R. "
Crown Corp." Harvard Business School Case 273-086, September 1975. (Revised from original January 1973 version.)
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Case
| HBS Case Collection
|
1975
(Revised from original version)
Cutrite Shears, Inc.
Thomas R. Piper
Citation:
Piper, Thomas R. "
Cutrite Shears, Inc." Harvard Business School Case 274-064, September 1975. (Revised from original September 1973 version.)
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Case
| HBS Case Collection
|
1972
United Terminal Corp.
Thomas R. Piper
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Case
| HBS Case Collection
|
1971
(Revised from original version)
Cyclops Cement Co. (Abridged)
Thomas R. Piper
Keywords: Construction Industry;
Citation:
Piper, Thomas R. "
Cyclops Cement Co. (Abridged)." Harvard Business School Case 271-030, December 1971. (Revised from original November 1970 version.)