Rating: 
Summary: Timely information for the dynamic investor
Review: This book comes out at an especially opportune time, given the current economic slump. The case studies and essays are a good read, and provide lots of useful information for students and managers (although since they are teaching cases, it would have been ideal to see them actually taught by the author). I found the material on corporate bankruptcy and vulture investing to be highly useful.
Rating: 
Summary: Amazingly Disappointing
Review: This book had great potential, but instead I returned it. If you are a student at Harvard Business School and this book is on your REQUIRED reading list, then you should buy this book. If you are anyone else, you'll be sorry you paid the ridiculous price. The unfortunate reality of this book is that it is simply a compilation of a number of HBS case studies bound up with a hefty price tag. These "cases" give students a lot of deep background research on restructuring issues that corporations faced. All the "case" does is ask the question--what do they do? I assume that at HBS, the instructor (and students) would then discuss various scenarios and the instructor would teach the class the results of what the corporation actually did and how it ended up. The problem is that the book doesn't come with the instructor, and the author didn't take the time to write the second half of each chapter which would have made the book useful. So, what you get when you buy this book is questions without answers -- akin to a movie without the 3rd act -- just when you get into the film and your hero's life is in jeopardy, the projector turns off and the lights go up. You'll learn very little about corporate restructuring through this book. It's really too bad, because the author clearly has done enough research to make it a great book; but, it appears that in the name of not giving away answers which might help HBS students, the author has eviscerated the value of the book for the rest of us.
Rating: 
Summary: Not very useful for self-study
Review: This book is a collection of Harvard-Style business-case-studies on the subject of companies in distress. No more.For those who don't know case-studies vey well: a situation is sketched including the history and background of a company as well as its industry. The case usually is accompanied by a number of tables, balance sheets and other items that help the student analyse the situation of the company. After reading the case, the students usually are sent off to construct a course of action for the management to take. The various solutions are then discussed afterwards. The problem with this book is: the second half of the process is lacking. Chapters typically conclude leaving the situation/problem completely open! Fine, if you're going to discuss the issue with fellow-students afterwards. Extremely frustrating if you're sitting in your study, trying to learn something. I have bought the book expecting case-studies including answers and found none. All of this would't be to bad if it was transparent, but in my opinion both the editors notes and most of the reviews here carefully avoid making this aspect of the book too visible.
Rating:
Summary: Just a collection of old cases
Review: This book is a complete waste of time. It is just a collection of case studies bundled together and resold. There is no analysis done. The cases are merely reprinted word for word from the original HBS cases. There are three short intros to the different sections, but once again nothing useful. Great marketing ploy, lousy book.
Rating:
Summary: An excellent book
Review: This book is a very timely publication as restructuring is becoming ever more important in today's business environment. I found the book educational, interesting and extremely helpful. I read the prior review and note the reviewer's concerns. One of the things that I did after I analyzed the cases was to look up articles on the companies profiled to find out "what happened". The articles are assessable from the websites of business magazines and business newspapers. Websites of the companies profiled also provide information that is helpful. In conclusion, I recommend this book highly; the amount of time you spend with it will be time well spent indeed.
Rating:
Summary: Fine as a text book but of little use to professionals
Review: This book would be fine for an MBA case text book that asks for participation and discussion; however, it is of little use to business professionals. The reason is simple; Gilson stops well short of helping the reader understand the resolution to the problems faced by the Company. It is like reading a good novel only to come to the last 50 pages and getting no closure. As a business professional looking for information on SOLUTIONS to troubled situations, this book falls flat on its face. As an example, the ending sentence to two of the chapters are "the CEO sat back in his chair to determine what he would recommend to the Board" and "the CEO thought it's going to get interesting now". It seems like Gilson wrote this book hoping that the reader would then follow up and buy the instructors manual to understand the ACTUAL outcome. Gilson should have written the book so the reader could actually not only understand the facts leading up to the available options but also understand the options that were chosen and the outcome of the choice. I have already been to college and gotten my MBA - I didn't buy the book to complete a case study - I bought the book for answers and Gilson provides NONE.
Rating: 
Summary: More Than Just a Bound Coursepak of Case Studies
Review: This is a TERRIFIC book, but it is a collection of terrific case studies and by that I mean the kind of case studies you would use in an MBA program. There are no conclusions drawn or analysis of the case or even questions to think about. There is also no follow up on the corporations included and how their plans were actually implemented or if they survived. However, the cases are divided up into three parts and each part has a short essay that introductes the general theme for the cases and offers a paragraph summary of each case. There is also a reding list of academic papers and books that can be used to delve deeper on that parts topic. This does add real value to this book. Just like in b-school, you are expected to dig, dig, dig. And this is a good thing. Don't get me wrong. You will learn more by asking yourself questions about what all the information means. And if you are an experienced case reader you will pretty much know what you should go after. And these cases have a extremely useful financials associated with them (analyzing these is where the real payoff is). You can do a lot of the follow up on your own by digging through Internet resources such as WSJ, Yahoo, and Hoovers, etc. Just don't expect any easy conclusions in the book because it is designed for use in class so all of the conclusions have to be held back or the cases become useless for teaching. However, since discussion of cases is the best place to get new insights above your own analysis, it would be GREAT if the publisher or the author put up a website where purchasers of this book could discuss the cases with each other. Maybe this would be the same problem as publishing analysis. However, my only frustration with this wonderful book is that even though I have gotten a great deal from it and will continue to benefit from it as a resource text for years to come, I KNOW I could get more out of it by discussing it with others. Each of these cases would be terrific for class use. The cases are all five star. I gave the book four stars only because of my personal frustrations in not being able to get other discussion about the cases and because of its very specialized topic. If you are interested in this topic and understand what cases are and are not - then for you this is a five star book.
Rating:
Summary: Good book but needs a companion text
Review: This is a very good case book, complete with intricate case studies illustrating numerous aspects of challenges often faced in restructuring in bankruptcy. However, the book assumes a level of knowledge about M&A concepts that many readers may not have. Consequently, I would recommend using this book in conjunction with another excellent text by DePamphilis entitled Mergers and Acquisitions: Integrated Approach. There are two editions. The second edition is more complete and up to date. It also tackles some of the problems illustrated in this book.
Rating:
Summary: Absolutely a must read
Review: This is an excellent book on understanding the framework used to analyze corporate restructurings and how corporate restructurings are playing an increasingly important role in creating shareholder value. Using recent case studies from various industries, Dr. Gilson effectively illustrates how companies restructure debt, contracts with shareholders, and contracts with employees. Topics such as Chapter 11 bankruptcy protection, out-of-court restructurings, corporate spin-offs, equity carve-outs, tracking stocks, and layoffs are covered. The case study method is extremely helpful in providing the ever important management's viewpoint of the restructuring process. With input from executives, investment bankers, attorneys, investors, and other key participants, readers have access to the inside scoop of various transactions that is generally not available to the public. Based on my experience executing various "Corporate Clarity" transactions with the M&A group at J.P. Morgan, I can say Dr. Gilson has done a fantastic job explaining why companies restructure and how it impacts market valuation. This book is a must read for anyone seriously interested in understanding the rationale behind mergers and acquisitions from a strategic, financial, and legal perspective.
Rating:
Summary: The only reference guide for the restructuring/turnaround
Review: This is an extremely important book that nimbly moves where no one has gone before to explain the value creation through corporate restructuring and turnaround. It does so by complementing real world case studies with well-focused introductions of theoretical concepts, analytical tools, and legal/tax framework. As a restructuring consultant, I found that the book contains much useful practical information on the restructuring process that turnaround practitioners can find helpful in their practice. The case studies themselves include useful applied, institutional information about how various types of restructuring are done, what motivates restructuring, what different restructuring options are available for dealing with a particular problem or challenge, etc. I find that it goes far beyond the legal framework of bankruptcy resolution to show how conflicting stakeholders claims play to create or destroy value. The book undoubtely breaks new ground in explaining the restructuring strategies and processes. I recommended the book to many of my colleagues in reorganization and restructuring services as I believe it shoud become essential reading for students, creditors, debtors and consultants as they face the complex operational, legal and financial challenges of distressed situations. The price: I found it steep at first glance but then I changed my mind when I compared it to other professional books in the industry.
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