The Cross-Subsidy

What this pack runs.

An acquisition of the same size gets a paper, a hurdle rate, a committee and a name against it. The same money moved internally arrives as capex in one division, working capital in another and a funded loss in a third, so no single figure ever grows and nobody has ever had to defend it. This pack produces the two numbers a group already has the reporting to produce and almost never does: the cover, which is group operating profit recomputed at the payer's worst year in the last ten — not a scenario, a year that already happened — and the return on the transfer, which carries what the funded units consume forward at the group's own hurdle rate and sets it against what they are worth today. It stops on two conditions: what the funded units consume has never been separated, and no required return has been set. The objective is not to end a transfer. Most are defensible and the people running them know it. The objective is to make somebody decide one.

The casebooks these cases come from.

The pack reads nine sourced decisions through the framework. They are drawn from these casebooks, each one a set of verified records on a single decision type.

A verified record has passed a mechanical claim-versus-source check, a second model's read, and human approval. The count is what exists today, not a target.