R.M. Wade & Co., founded in Oregon in 1865 as a hardware and dry goods store, soon began selling agriculture implements, buggies and hardware to farmers. The company opened a manufacturing division after an acquisition in 1927. The company began offering irrigation systems in the mid-1930s and exported Wade Rain...Read more
What capabilities does the next generation need?
Family business adviser and researcher Dennis Jaffe, Ph.D., has been working on a “100-Year Family Enterprise Project,” a study of successful business families from around the world. The study has been conducted by Wise Counsel Research, a public charity and think tank, with funding from Merrill Lynch.
In 2014, seven years into his tenure as CEO of the Leonard Holding Company, Neal Leonard was forced to make the decision his family had tried for years to forestall: closing L&H Packing, the cow boning and trading company co-founded by his grandfather in San Antonio a half-century earlier. A...Read more
Christmas at Cliff Lawn
Cliff Lawn, the 105-year-old Hill family home in Nashville, has hosted six generations of the Hill family at Christmastime. Home to Barry and Wentworth Caldwell Jr. since 1973, Cliff Lawn has been in the H.G. Hill family for three generations. Wentworth Caldwell Jr.—my father—is chairman of the H.G. Hill Company,...Read more
Greg Norman's 200-year foresight
Most businesses owe their existence to their founder's genius, talent, luck or just plain hard work. One of the major obstacles to passing those companies to family members is the need to replace the founder's vision, not to mention his or her personal connections. The closer the company's success is...Read more
What your estate and trust plans say about your family legacy
As successful business owners, you understand that carefully crafted estate and trust plans provide the tools for families to safeguard assets and protect their financial security. But these plans can also ultimately help families create their legacies. How can you have confidence that the planning strategies used in estate and...Read more
10 Fates That Can Befall Your Business
Barbara Roberts, entrepreneur-in-residence at Columbia Business School, serves as a board member and consultant to family-owned and venture-backed private companies and consults to families on succession planning; she also chairs peer learning groups and runs succession planning workshops.
Roberts believes that television shows like Shark Tank...Read more