{"product_id":"creating-value-through-corporate-restructuring-isbn-9780470503522","title":"Creating Value Through Corporate Restructuring","description":"\u003cp\u003eAn updated look at how corporate restructuring really works\u003c\/p\u003e \u003cp\u003eStuart Gilson is one of the leading corporate restructuring experts in the United States, teaching thousands of students and consulting with numerous companies. Now, in the second edition of this bestselling book, Gilson returns to present new insight into corporate restructuring.\u003c\/p\u003e \u003cp\u003eThrough real-world case studies that involve some of the most prominent restructurings of the last ten years, and highlighting the increased role of hedge funds in distressed investing, you'll develop a better sense of the restructuring process and how it can truly create value. In addition to \"classic\" buyout and structuring case studies, this second edition includes coverage of Delphi, General Motors, the Finova Group and Warren Buffett, Kmart and Sears, Adelphia Communications, Seagate Technology, Dupont-Conoco, and even the Eurotunnel debt restructuring.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eCovers corporate bankruptcy reorganization, debt workouts, \"vulture\" investing, equity spin-offs, asset divestitures, and much more\u003c\/li\u003e \u003cli\u003eAddresses the effect of employee layoffs and corporate downsizing\u003c\/li\u003e \u003cli\u003eExamines how companies allocate value and when a corporation should \"pull the trigger\"\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eFrom hedge funds to financial fraud to subprime busts, this second edition offers a rare look at some of the most innovative and controversial restructurings ever.\u003c\/p\u003e \u003cp\u003eForeword xi\u003c\/p\u003e \u003cp\u003eIntroduction xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One Restructuring Debt and Liabilities 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1 Investing in Distressed Situations: Strategies, Opportunities, and Risks 17\u003c\/p\u003e \u003cp\u003eChapter 2 Note on the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) 69\u003c\/p\u003e \u003cp\u003eChapter 3 Kmart and ESL Investments (A) 85\u003c\/p\u003e \u003cp\u003eChapter 4 Kmart and ESL Investments (B): The Sears Merger 115\u003c\/p\u003e \u003cp\u003eChapter 5 National Convenience Stores Incorporated 129\u003c\/p\u003e \u003cp\u003eChapter 6 Continental Airlines—1992 157\u003c\/p\u003e \u003cp\u003eChapter 7 Flagstar Companies, Inc. 185\u003c\/p\u003e \u003cp\u003eChapter 8 The Finova Group, Inc. 225\u003c\/p\u003e \u003cp\u003eChapter 9 Arch Wireless, Inc. 259\u003c\/p\u003e \u003cp\u003eChapter 10 Adelphia Communications Corp.’s Bankruptcy 291\u003c\/p\u003e \u003cp\u003eChapter 11 Buenos Aires Embotelladora S.A. (BAESA): A South American Restructuring 341\u003c\/p\u003e \u003cp\u003eChapter 12 Alphatec Electronics PCl 377\u003c\/p\u003e \u003cp\u003eChapter 13 Groupe Eurotunnel S.A. 417\u003c\/p\u003e \u003cp\u003eChapter 14 Delphi Corp. and the Credit Derivatives Market 447\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two Restructuring Equity and Assets 473\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 15 Humana Inc.: Managing in a Changing Industry 487\u003c\/p\u003e \u003cp\u003eChapter 16 USX Corporation 511\u003c\/p\u003e \u003cp\u003eChapter 17 E.I. du Pont de Nemours and Company: The Conoco Split-off 535\u003c\/p\u003e \u003cp\u003eChapter 18 Seagate Technology Buyout 561\u003c\/p\u003e \u003cp\u003eChapter 19 The Loewen Group Inc. 587\u003c\/p\u003e \u003cp\u003eChapter 20 Donald Salter Communications Inc. 617\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three Restructuring Employees’ Claims 641\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 21 Restructuring at Delphi Corporation 651\u003c\/p\u003e \u003cp\u003eChapter 22 Navistar International 683\u003c\/p\u003e \u003cp\u003eChapter 23 Scott Paper Company 713\u003c\/p\u003e \u003cp\u003eChapter 24 UAL Corporation 747\u003c\/p\u003e \u003cp\u003eAppendix A Closing the Value Gap: A Simple Framework for Analyzing Corporate Restructuring 781\u003c\/p\u003e \u003cp\u003eAppendix B Valuing Companies in Corporate Restructurings: Technical Note 785\u003c\/p\u003e \u003cp\u003eAbout the Author 803\u003c\/p\u003e \u003cp\u003eIndex 805\u003c\/p\u003e  \u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eSTUART C. GILSON\u003c\/b\u003e is the Steven R. Fenster Professor of Business Administration at Harvard Business School and is an expert in corporate restructuring, valuation, and corporate finance. He teaches corporate restructuring in the school’s MBA program and also teaches restructuring, valuation, and corporate finance in a number of senior executive education programs. Gilson’s research on restructuring has been widely cited in numerous national news and business periodicals, and has received a number of awards, including the prestigious Graham and Dodd Award. He has been named one of the nation’s top bankruptcy academics by \u003ci\u003eTurnarounds and Workouts\u003c\/i\u003e magazine.   \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eNearly a decade has passed since \u003ci\u003eCreating Value through Corporate Restructuring\u003c\/i\u003e was originally published. During this time, the business and financial world has faced incredible challenges, and the practice of corporate restructuring has been transformed in a number of significant ways. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eThat’s why Harvard Business School Professor Stuart Gilson, one of the leading corporate restructuring experts in the United States and a consultant to numerous companies, has created the Second Edition of this bestselling book. Emphasizing learning through analysis of real-world case studies, the book is organized around three modules, each highlighting a particular area of restructuring, including the restructuring of debt and liabilities, equity and assets, and employees’ claims. By giving you a unique “insider’s” perspective on these cases, this reliable resource will help you develop a deeper understanding of the restructuring process and how it impacts corporate financial performance and value. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eFeaturing thirteen additional new case studies and technical chapters, this book will equip you with the insights and tools that you will need to capitalize on future restructuring challenges and opportunities, and to create value for your shareholders and other constituencies. In addition to addressing new strategies and practices in corporate restructuring, the new cases in this book highlight a number of important industry sectors that have been particularly hard hit by economic turmoil—including retailing (Kmart), technology (Arch Wireless Communications and Seagate Technology), finance (The Finova Group), and auto manufacturing (Delphi). Along the way, other case studies will provide you with valuable insights into issues such as the investment strategies used by hedge funds to trade in the debt of distressed companies (Kmart), the increasing use of Chapter 11 as a platform for auctioning off bankrupt firms’ assets (Adelphia Communications), credit derivatives (Delphi Corp. and the Credit Derivatives Market), corporate restructuring practices outside the United States (Groupe Eurotunnel S.A. and Buenos Aires Embotelladora S.A.), and equity split-offs, equity carve-outs, and share repurchases (DuPont). \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eBased on interviews with executives, investment bankers, attorneys, creditors, investors, and other key participants, the cases found here involve some of the most innovative, complex, and controversial restructurings of the past two decades, and represent a broad cross-section of management and restructuring challenges. Engaging and informative, they offer an inside look at how a corporate restructuring actually gets done, and how restructuring could financially impact a company and those associated with it. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eAs global markets continue to become more integrated and competitive, corporate restructuring will play an increasingly important role in how companies create value. With the \u003ci\u003eSecond Edition\u003c\/i\u003e of \u003ci\u003eCreating Value through Corporate Restructuring\u003c\/i\u003e as your guide, you’ll discover how to effectively weigh your restructuring options and choose the best path forward.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989002141925,"sku":"NP9780470503522","price":105.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470503522.jpg?v=1761782387","url":"https:\/\/k12savings.com\/products\/creating-value-through-corporate-restructuring-isbn-9780470503522","provider":"K12savings","version":"1.0","type":"link"}