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Abstract:
In late 2008, Orange (aka France Telecom) must decide if launching Read&Go, an electronic newsstand built around an e-paper reader, would be successful. The case describes: 1) Orange's strategy; 2) the company's new product development process; 3) e-paper technology, which simulates the appearance of printed paper on a screen; 4) consumer demand for e-paper services; 5) potential competitors, including Amazon's Kindle; 6) business model options for Orange's service; and 7) the reactions of French newspapers - crucial content partners - to Orange's proposal.

Abstract:
In September 2008, during the global economic downturn that followed the credit crunch crisis, Robert Polet, the CEO of the Gucci Group, a London based multi-brand luxury goods company, had learned that after four years of growth, the Group's largest business, the fashion brand Gucci, would report a slowdown for the first semester. Polet had joined Gucci in 2004 after 26 years at one of the largest consumer goods companies Since his arrival, the Gucci Group had grown both in revenues and profitability. Part of his secret was his decentralized management style. Polet was worried because the economic crisis was reaching out the luxury world. He knew that he should leave the primary decisions for the Gucci brand to Lee. Yet, given the urgency of the situation, Polet wondered if more involvement from him in the brand's decision making process would not be more effective. The case also presents students with a series of actions that could help boost Gucci's sales and asks them to analyze what could Polet do.

Abstract:
In the summer of 2006 the chairman and CEO of Eurotunnel Group is faced with the decision whether to file for bankruptcy protection, after having failed to gain creditor approval of an ambitious out-of-court restructuring plan. The company, which has been attempting to restructure its debt and operations for the last ten years, faces a number of daunting challenges. Eurotunnel is jointly listed in the U.K. and France, and its shareholders, who are largely based in France, face the prospect of significant dilution under any restructuring plan. The current chairman and CEO has been with the company for only a year-and-a half, following a decade of senior management turbulence in which the company has seen nine different CEOs and chairmen. Eurotunnel's capital structure is staggeringly complex, and a large fraction of its debt has come to be held by U.S.-based hedge funds that specialize in investing in distressed companies. Finally, Eurotunnel's business is extremely challenging to value, and is faced with significant competition. If the current chairman/CEO decides to file for bankruptcy, he faces the additional choice whether to file for bankruptcy in the U.K. or in France, which take quite different approaches to restructuring troubled companies.

Abstract:
In mid-2007 the chairman and CEO of Eurotunnel Group, having elected to file for bankruptcy under a newly-enacted French insolvency law, awaits the outcome of a vote by creditors and shareholders. At least 50% of the shareholders must approve the plan, however they face significant dilution of their ownership interests in Eurotunnel. If the vote fails to pass, the possibility that the company may have to be liquidated becomes increasingly likely.

Abstract:
SUBJECT AREAS: Currency, Foreign exchange, Foreign exchange rates, Hedging, Travel

CASE SETTINGS: London; Education industry; Travel industry; $200 million; 100 employees; 2004

The American Institute for Foreign Studies (AIFS) organizes study abroad programs and cultural exchanges for American students. The firm's revenues are mainly in U.S. dollars, but most of its costs are in eurodollars and British pounds. The company's controllers review the hedging activities of AIFS. AIFS has a hedging policy, but the controllers want to review the percentage of exposure that is covered and the use of forward contracts and options. AIFS sets guaranteed prices for its exchanges and tours a year in advance, before its final sales figures are known. The controllers need to ensure that the company adequately hedges its foreign exchange exposure and achieves an appropriate balance between forward contracts and currency options. To obtain executable spreadsheets (courseware), please contact our customer service department at custserv@hbsp.harvard.edu.

Abstract:
SUBJECT AREAS: Bonds, Capital markets, Financial instruments, Institutional investments

CASE SETTINGS: London; 2003

Deutsche Bank's Fixed Income Research Group is looking for yield curve trades to pitch to clients as well as for their proprietary trading desk. The group has data on recent bond trades and a proprietary term structure model, which they can use to develop trading ideas.