• July 2018 (Revised January 2019)
• Teaching Note

MC Tool

By: Richard S. Ruback, Royce Yudkoff and Ahron Rosenfeld

Sean Witty and Jason Premo acquired MC Tool, a machine shop located in South Carolina in 2007 with the intent to transform it into a precision manufacturer. Witty and Premo were able to more than double revenue to $6 million in their first year of managing MC by...  View Details

Keywords: Small ＆ Medium-sized Enterprises; Small Business; Production; Transformation; Problems and Challenges; Financial Condition; Business Strategy; Manufacturing Industry; United States

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Ruback, Richard S., Royce Yudkoff, and Ahron Rosenfeld. "MC Tool." Harvard Business School Teaching Note 219-004, July 2018. (Revised January 2019.)

• June 2018
• Case

Japan: Deficits, Deflation and Debt

By: Richard H.K. Vietor and Haviland Sheldahl-Thomason

In April 2018, Prime Minister Shinzo Abe was again in Washington to petition Donald Trump. After years of rapid, export-led growth, Japan had slumped into recession in 1991 and never really recovered. For the past 27 years, its economy has grown at 1.1% annually,...  View Details

Keywords: Deflation; Debt; Country Analysis; Monetary Expansion; Population Growth; Inflation and Deflation; Borrowing and Debt; Economy; Energy; National Security; Japan

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Vietor, Richard H.K., and Haviland Sheldahl-Thomason. "Japan: Deficits, Deflation and Debt." Harvard Business School Case 718-063, June 2018.

• May 2018 (Revised January 2019)
• Teaching Note

Lind Equipment

By: Richard S. Ruback, Royce Yudkoff and Ahron Rosenfeld

Teaching Note for HBS No. 212-012. Lind Equipment, a Canadian manufacturer and distributor of industrial electrical safety equipment, was purchased in December 2007 by Brian Astl (HBS 2006) and Sean Van Doorselaer. Lind’s performance was negatively impacted by the...  View Details

Keywords: Recession; Seller Debt; Equity; Financial Condition; Borrowing and Debt; Capital; Revenue; Financing and Loans; Financial Strategy; Financial Management; Acquisition; Financial Crisis; Currency Exchange Rate; Insolvency and Bankruptcy; Manufacturing Industry; Industrial Products Industry

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Ruback, Richard S., Royce Yudkoff, and Ahron Rosenfeld. "Lind Equipment." Harvard Business School Teaching Note 218-119, May 2018. (Revised January 2019.)

• Article

How Did the Great Recession Affect Charitable Giving?

By: Arthur C. Brooks

A great deal of research has studied the effects of income and tax changes on charitable giving. However, little work has focused on how these relationships were affected by the Great Recession. This article estimates the tax and income effects using the 2009 Panel...  View Details

Keywords: Charitable Giving; Great Recession; Philanthropy; Philanthropy and Charitable Giving; Financial Crisis; Taxation; Policy

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Brooks, Arthur C. "How Did the Great Recession Affect Charitable Giving?" Public Finance Review 46, no. 5 (September 2018): 715–742.

• November 2017
• Article

Credit-Induced Boom and Bust

By: Marco Di Maggio and Amir Kermani

Can a credit expansion induce a boom and bust in house prices and real economic activity? This paper exploits the federal preemption of national banks in 2004 from local laws against predatory lending to gauge the effect of the supply of credit on the real economy....  View Details

Keywords: Great Recession; Subprime; Credit Supply; Credit Expansion; Household Leverage; Household Debt; Preemption Rule; Mortgages; Laws and Statutes; Credit; Household; Borrowing and Debt; Economic Slowdown and Stagnation

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Di Maggio, Marco, and Amir Kermani. "Credit-Induced Boom and Bust." Review of Financial Studies 30, no. 11 (November 2017): 3711–3758. (Lead article and Editor's choice Winner of the 2018 RFS Rising Scholar Award.)

• September 2016
• Case

Truly Human Leadership at Barry-Wehmiller

By: Dylan Minor and Jan Rivkin

The chief executive of Barry-Wehmiller, a large maker of industrial equipment, has resolved to run the company via “truly human leadership” in which “success is measured by the way we touch the lives of people.” With unusual people practices and a distinctive strategy,...  View Details

Keywords: Job Cuts and Outsourcing; Values and Beliefs; Organizational Culture; Employees; Business Strategy; Manufacturing Industry

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Minor, Dylan, and Jan Rivkin. "Truly Human Leadership at Barry-Wehmiller." Harvard Business School Case 717-420, September 2016.

• May 2016
• Case

RegionFly: Cutting Costs in the Airline Industry

By: Susanna Gallani and Eva Labro

RegionFly is a small, private airline specializing in ultra-premium services. Founded shortly after the "Golden Age of airline travel," RegionFly's financial performance had been strong for several decades. More recently, however, the results have taken a downward...  View Details

Keywords: Cost Management; Profit; Air Transportation Industry

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Gallani, Susanna, and Eva Labro. "RegionFly: Cutting Costs in the Airline Industry." Harvard Business School Case 116-047, May 2016.

• March 2016 (Revised August 2018)
• Case

JPMorgan Chase after the Financial Crisis: What Is the Optimal Scope of the Largest Bank in the U.S.?

By: David Collis and Ashley Hartman

When Jamie Dimon took over as CEO of JPMorgan Chase & Co. (JPMorgan Chase) in 2005, he reaffirmed the commitment to pursue a "universal bank" strategy—providing a full range of products and services to both retail and wholesale clients. Yet the merits of the universal...  View Details

Keywords: Scope; Regulatory Reforms; Universal Banking; Synergy; Optimization; Simplification; Finance; Strategy; Business Strategy; Financial Crisis; Consolidation; Corporate Strategy; Diversification; Governing Rules, Regulations, and Reforms; Banking Industry; Financial Services Industry

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Collis, David, and Ashley Hartman. "JPMorgan Chase after the Financial Crisis: What Is the Optimal Scope of the Largest Bank in the U.S.?" Harvard Business School Case 716-448, March 2016. (Revised August 2018.)

• February 2016
• Article

Positive and Normative Judgments Implicit in U.S. Tax Policy, and the Costs of Unequal Growth and Recessions

By: Benjamin B. Lockwood and Matthew Weinzierl

Calculating the welfare implications of changes to economic policy or shocks to the economy requires economists to decide on a normative criterion. One way to make that decision is to elicit the relevant moral criteria from real-world policy choices, converting a...  View Details

Keywords: Judgments; Taxation

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Lockwood, Benjamin B., and Matthew Weinzierl. "Positive and Normative Judgments Implicit in U.S. Tax Policy, and the Costs of Unequal Growth and Recessions." Journal of Monetary Economics 77 (February 2016): 30–47. (Also Harvard Business School Working Paper, No. 14-119, June 2014.)

• January 2016
• Article

Making Do with Less: Working Harder During Recessions

By: Edward P. Lazear, Kathryn L. Shaw and Christopher Stanton

Why did productivity rise during recent recessions? One possibility is that average worker quality increased. A second is that each incumbent worker produced more. The second effect is termed "making do with less." Using data from 2006 to 2010 on individual worker...  View Details

Keywords: Performance Productivity; Economic Slowdown and Stagnation

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Lazear, Edward P., Kathryn L. Shaw, and Christopher Stanton. "Making Do with Less: Working Harder During Recessions." Journal of Labor Economics 34, no. S1 (January 2016): S333–S360.

• 2015
• Report

Clusters and Regional Economies: Implications for the Great Lakes - St. Lawrence Region

By: Christian H.M. Ketels

The Great Lakes – St. Lawrence Region, covering eight U.S. states and two Canadian provinces located around the lakes and waterways that have given this region its name, is what economic developers call a 'macro region'. It is an area of intensive economic interaction...  View Details

Keywords: Clusters; Regional Policy; Great Lakes; Economic Development; Industry Clusters; Economy; Canada; United States

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Ketels, Christian H.M. "Clusters and Regional Economies: Implications for the Great Lakes - St. Lawrence Region." Report, Conference of Great Lakes and St. Lawrence Governors and Premiers, Chicago, IL, August 2015.