Coping in the Economic Downturn: 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. Here are ten family business examples.
By James E. Barrett
It’s been more than a year since the wars in the Middle East were driven from the front pages by the hurricane of economic and financial trouble. Here’s a report on the character-building experiences ten family-owned firms I know have had during that time.
1. Money-management firm
A money-management boutique in the New York City area had been exploring combining with another firm. Firm A’s experienced second generation ran the place day to day; the founder, nearing age 70, held the reins loosely. The leader of firm B, age 60 and without a successor, had to hold his key professionals, who were valued …
You must be logged in as a Family Business Magazine subscriber to read the full text online. Articles may be purchased individually for $10.00.