Pearson Ford has done recently as CEO of HLB, a Chicago-based product design and development firm (and once one of the largest in the industry) to help turn it around after a series of crises that seriously their survival was threatened. Pearson has personally invested in the company, re-organized many aspects of its operations and hired a younger executive and turnaround expert Andrew Macey, as COO to help him in the effort. Pearson and Macey have to consider several options: If HL … Read more »

Pearson Ford has done recently as CEO of HLB, a Chicago-based product design and development firm (and once one of the largest in the industry) to help turn it around after a series of crises that seriously their survival was threatened. Pearson has personally invested in the company, re-organized many aspects of its operations and hired a younger executive and turnaround expert Andrew Macey, as COO to help him in the effort. Pearson and Macey have to consider several options: If HLB raise $ 1 million in debt financing and focus on a turnaround or should it be a private equity investor and raise an additional $ 4,000,000 and pursue an aggressive growth strategy and improve productivity? While to consider these options in September 2008, the credit markets are jamming to closed as a global financial crisis is around the corner.
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from
Lynda M. Applegate
Bhaskar Chakravorti,
Laura Winig
Source: Harvard Business School
27 pages.
Release Date: 18, November 2009. Prod #: 810023-PDF-ENG
The HLB turnaround HBR case solution

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