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Summer 1993
Trusting the Business to Trustees
A trust can be a valuable interim way to run the business while next-generation leaders get ready.
—Michael L. Fay
Guarding the Family Name
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.
—Ellen Hawkes
The Immortals
Tradition and dynamism sustain the world's greatest family businesses.
—Howard Muson
Twelve Tasks in Succession
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.
—Ivan Lansberg
Sweet Company, Bitter Fight
After buyout talks failed, one side of the Blommer Chocolate family sold 50 percent of the voting stock to Cargill Inc.
—Charles Storch
Anticipating the Needs of the Grandkids
An irrevocable trust can protect the beneficiaries and encourage their career achievement.
—Mike Cohn
How To Build A Dynasty
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.
—Howard Muson
Family Employees Should Not Be Fireproof
Dismissing a relative is never easy. But the company can't afford those who subvert the goals of management.
—Leon Danco
Key Choices To Be Made Before Planning Starts
A succession strategy articulates how the process will be carried out and the values guiding it.
—Peter Davis
‘Why Does This Kid Want To Work?’
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
What Your Banker Needs To Know
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
