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A trust can be a valuable interim way to run the business while next-generation leaders get ready.
—Michael L. Fay
Ernest Gallo felt his brother's inexpensive cheese cheapened the wine family's name. He vowed to stop "Joseph Gallo Cheese" and forced a battle in court.
Tradition and dynamism sustain the world's greatest family businesses.
Planning a leadership transition is hard, stressful work. Not every family has the stamina to stay the course, or the courage to face the choices that must be made.
After buyout talks failed, one side of the Blommer Chocolate family sold 50 percent of the voting stock to Cargill Inc.
An irrevocable trust can protect the beneficiaries and encourage their career achievement.
Beretta—the name is synonymous with elegant weaponry. Ugo Gussalli Beretta, 13th-generation leader of the Italian dynasty, reveals the secrets of remaining a family business for five centuries.
Dismissing a relative is never easy. But the company can't afford those who subvert the goals of management.
A succession strategy articulates how the process will be carried out and the values guiding it.
When the Mennen Company was sold last March, one well-qualified scion faced rampant prejudice by employers and bosses. Be prepared, he warns.
—William G. Mennen IV
A study compares what you value most in a banking relationship—with what bankers think you value.
—Bonnie M. Brown, James F. Nielsen, Rowan M. Traylor
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