Family Business: The guide for building and managing family companies
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  'A company that makes good on its word': Harold Yochlowitz (in orange jacket) with ABC Recycling employees and family members (front row, from left) Karen Bichin, Melvyn Yochlowitz, Helen Alko, David Yochlowitz, Mike Yochlowitz and Amber Quiring. Karen's husband, Mark Bichin, is third from left in the group of employees standing in front of the vehicle at right.

Summer 2009 Contents

Communication and commitment  The multicultural Yochlowitz family, who grew their business from its scrap-peddling roots into ABC Recycling, now the largest recycling firm in British Columbia, took an emotional journey to address tough transitional issues.   — Deanne Stone

Planning a smooth succession  Bill Darley took an unusual approach to selecting his successor at W.S. Darley & Co. He asked the top candidates to choose the new president themselves.   — Margaret Steen

A 125-year-old heavy hitter  Hillerich & Bradsby, a fifth-generation family firm, has been making Louisville Slugger baseball bats since 1884.   — Thomas W. Durso

An elephant in the family business: A covert addiction  When the addict is a high-ranking family business member, the situation is tough to confront. Yet ignoring the problem imperils the business and the family.   — Florence W. Kaslow

COPING IN THE ECONOMIC DOWNTURN

Cash is king … or is it?  In today’s economy, a family business is wise to hang on to cash. But this strategy won’t necessarily result in a strong, sustainable company. What really matters is a business family’s attitude toward debt.   — Dave Donelson

Financing family firms in a time of frenzy  Managerial skill plays a major role in a company’s ability to survive in the current economic mess.   — James E. Barrett

Pursuing trivia  At the Hussey family’s annual Family Forum, members of the seventh generation learned about the family business by competing in a trivia contest/scavenger hunt.   — Tim Hussey

 

Also in this issue
 

DEPARTMENTS

From the Editor   A challenging time to take the reins.   —Barbara Spector

Publisher’s Page   Reclaiming a legacy.   —Caro U. Rock

Openers   A CEO’s plea to public companies: ‘Keep your employees working.’   —Andrea K. Hammer

Contrarian’s Notebook   Madoff’s unwitting victims; good news for family felons; two lessons from Alfred A. Knopf Jr.   —Dan Rottenberg

Family Business Legends   Q&A with Alan Hassenfeld, chairman of the executive committee at Hasbro.   —John Resnick

Toolbox  A herculean effort to sell a company; a how-to guide that focuses on a board’s function; an art dealer writes his family business story.   —Barbara Spector

Directory   Advisers for family companies.

Travelogue  Birthplace of the waffle cone.   — Kissa Fernandez

Profile  A cut above.   — Sally M. Snell

ADVISERS

Cliff Atherton:   Independent advisers’ pivotal role in tough times.

Carmen Bianchi:   Working ‘on’ vs. ‘in’ the business.

Michael J. Walker:   Avoiding exit strategy missteps.

Joe Paul:   Blood is not enough.