9-913-530
OCTOBER 22, 2012
W. CARL KESTER
SUNRU YONG
Winfield Refuse Management, Inc.:
Raising Debt vs. Equity
It was early June 2012, and Mamie Sheene was checking her team’s calculations yet again. The
next board of directors meeting was in just two days, and she needed to be sure her presentation was
perfect. As chief financial officer of Winfield Refuse Management, a vertically integrated,
nonhazardous waste management company, it was Sheene’s responsibility to lead the discussion