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Mainstreet Equity Corp. (A)
As a major player in Western Canada's real estate market, Mainstreet Equity Corp. has a unique strategy for success: instead of simply buying and selling properties, Mainstreet also upgrades and manages them, thereby enhancing their value. In particular, Mainstreet concentrates its efforts on the multifamily sector, acquiring apartment buildings and townhouses to rented or sold at a profit under the Mainstreet brand. The company president and chief executive officer is at a professional crossroads where the future of Mainstreet is concerned. He wants to ride the wave of rapid growth that his young company is experiencing, yet at the same time, he wants to preserve the values of a small entrepreneurial firm. Control over issues such as quality, service, buying and staffing is important to him and easy to facilitate under current conditions. But the opportunity to expand is also tempting and at hand. Mainstreet's board of directors must work towards a decision regarding whether or not to expand the business, and if so, how rapidly and where? Or if not, the board must decide on an alternative course of action that would prepare the company for expansion in the future.
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